haha you know how they can fall over!!?
i still find it difficult to trade the news iam afraid !
what i find is that regardless of what the news result is, on many news days even if the news is positive, the market still goes down ! so how on earth you guys get a head start on the news i dont know !
a few days back i was trading the GBP USD. there were 2 important GBP data coming out on the day. both the data were positive. they came out at 1.30pm. the market seemed to be moving up. i entered long at around 1.31pm.
but then the market reversed and went down by 140 pips ! there were no other important news releases on the day on any of other pairs. so i dont know what happened, and why the market reversed.
my conclusion then is that regardless of the news the markets are affected by other factors . and before the news comes out on the day the market would have already taken this into account and already start to move accordingly before the news event ?
i have also found on many days that if i enter both buy and sell stop orders according to S/R levels on the day of the news release, then a lot of the times both orders are executed resulting in a loss of the gap between the orders.
so iam skeptical of news trading.
can you explain how you determine S/R levels on the day of news release on 30 min candles ?
also what if on the day of news release there are several important news release coming out on several pairs one after another ? would this therefore not trigger both the buy and sell orders ? say for example you are trading EUR USD. you then have EUR red news coming out at say 1.30pm and then USD red news coming out at 2.00pm. how would you then adjust your trading style ? as both buy and sell could be triggered.
can you tell us which news events you trade, is it just the important red news only or the medium orange news release as well ? how do you use the data from tradethenews website ?
this info would be really helpful.
regards
