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  • #2,161
  • May 11, 2011 3:57am May 11, 2011 3:57am
Guys ther is some big news tonight for the US, the GBP and CAD. I find it hard to get my head around putting a trade on without taking this into account....it has a massive impact if the figures are not as expected.
Do you guys just ignore it or do you take it into account??
  • #2,162
  • May 11, 2011 3:57am May 11, 2011 3:57am
Opps, I missed an opportunity to get pips...

This morning AUDUSD & USDCAD daily chart showing good Buy n Sell signal.
But i coded limit order didn't hit by the price....

Now both of them are 40pips away from my limit order price:-(
  • #2,163
  • May 11, 2011 4:01am May 11, 2011 4:01am
Quoting dean
Guys ther is some big news tonight for the US, the GBP and CAD. I find it hard to get my head around putting a trade on without taking this into account....it has a massive impact if the figures are not as expected.
Do you guys just ignore it or do you take it into account??
Id also be interested to hear more about what Eelfranz or another more seasoned trader does with news coming up in 1,2, or 8 hours. News really does my head in when it comes to decision making.

And how long do you stay out of the market for afterwards? If its NFP or another more critical red flag news, will you stay out longer?
  • #2,164
  • May 11, 2011 4:07am May 11, 2011 4:07am
What the heck, an attempt on the AUS/CAD going short.

All comments welcome

SR
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  • #2,165
  • May 11, 2011 4:12am May 11, 2011 4:12am
Got filled on demo trade on U/J 4 H chart.

All comments welcome.

cheers

SR
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  • #2,166
  • May 11, 2011 4:12am May 11, 2011 4:12am
Im short UJ. Heiken Ashi is pretty small, but there always seems to be something keeping me out of a trade, so im in this one.
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  • #2,167
  • May 11, 2011 4:17am May 11, 2011 4:17am
SJR

looks ok to me did not each the last high so I would be in on this
I'm new at this as well
  • #2,168
  • May 11, 2011 4:22am May 11, 2011 4:22am
Quoting allan_mc
Id also be interested to hear more about what Eelfranz or another more seasoned trader does with news coming up in 1,2, or 8 hours. News really does my head in when it comes to decision making.

And how long do you stay out of the market for afterwards? If its NFP or another more critical red flag news, will you stay out longer?
This is a good question, i'd be interested too to hear peoples views and experiences on handling news particulary like today where we have lots of major news coming out 30 minutes after the 4hr candle formed.
  • #2,169
  • May 11, 2011 4:35am May 11, 2011 4:35am
Quoting check2011
Many thanks AlienFrog... maybe Karma comes around in pips?

And your earlier reply is appreciated. The good old 'KISS' rule... because flipping between TFs would stall me from opening any positions!

Btw... considering your stats (10-2) with pip profit in the hundreds... when are you taking your show live?
Check, I hope you are right - I think my karma account it pretty big, but I know my bank account doesn't match it yet!

When to go live? I will do some due diligence because this is a business. I will test a couple of other pairs, through the same time period and maybe March and April.

Here's my plan:
1) Backtest 2-3 other pairs in Jan-Feb period, maybe March and April, too
2) Trade demo account for at least 1 month, or until positive
3) Phase in trading my live $100 account

Eventually my plan is to live like Eelfranz - trade the H4 charts and get up every 4 hours every night to check them.
Luck occurs when preparation meets with opportunity.
  • #2,170
  • May 11, 2011 4:37am May 11, 2011 4:37am
Quoting babnz48
SJR

looks ok to me did not each the last high so I would be in on this
I'm new at this as well
Thanks fellow Kiwi.
Im new as well. Been bouncing around the forum for a while looking for a system to fit "me". So far the way Big E describes this method looks good.
Although looks can be deceptive, proof is in the trading.

Time will tell. I will say thou, eelfranz seems to be a straight shooter...
  • #2,171
  • May 11, 2011 4:37am May 11, 2011 4:37am
Quoting Chillypiper
VERY IMPRESSIVE MR.ALIENFROG!
Chilly, thanks but the pip machine was built by Eelfranz . I'm just turning the crank handle and the pips come out the other end of the machine!
Luck occurs when preparation meets with opportunity.
  • #2,172
  • May 11, 2011 4:38am May 11, 2011 4:38am
Quoting 2scoops
This is a good question, i'd be interested too to hear peoples views and experiences on handling news particulary like today where we have lots of major news coming out 30 minutes after the 4hr candle formed.
And there is a good reason to stay out I reckon....G/U has just gone up near 100pips
  • #2,173
  • Edited 4:59am May 11, 2011 4:43am | Edited 4:59am
Quoting allan_mc
Im short UJ. Heiken Ashi is pretty small, but there always seems to be something keeping me out of a trade, so im in this one.
Allan, I think your signal looks good, Just check it at the next 4H candle: if the green line continues down, stay in. If it turns up, get out.

Also, to quote an authority on the subject: Backtest on old charts to gain confidence in your entries.
Luck occurs when preparation meets with opportunity.
  • #2,174
  • May 11, 2011 4:46am May 11, 2011 4:46am
Quoting dean
And there is a good reason to stay out I reckon....G/U has just gone up near 100pips
Just got in there in time then and got back 114 of the pips I lost last night.
more good luck than any thing else
  • #2,175
  • May 11, 2011 4:53am May 11, 2011 4:53am
I was in UC trade from 2 hours after daily open, but exited because of news in 2 or so hours. Would have liked to hold that overnight so bummer!
  • #2,176
  • May 11, 2011 5:04am May 11, 2011 5:04am
all the gu trades were in my opinion quite lucky - news driven and not due to technical factors, i took a punt on gj and made a few pips but was quite aware that it could have easily gone the other way
  • #2,177
  • Edited 5:37am May 11, 2011 5:07am | Edited 5:37am
I've never used money management rules like most people use it... 2-3% on a trade... never seemed to fit my personality and I'm sure it's frustrated more than a few of you out in Forex Land...

Most of my trades use from 15-30% of my account... why? That's where I feel most comfortable trading.... and why one of MY PERSONAL RULES is to exit the trade at the 12-15 pip pullback region... Regardless of the time frame... It's always worked for me... and made me pips...

I take the best trade set ups... I got the patience of Job and Moses...

I've always had the nack of making up any losses pretty fast so it doesn't scare me... I'm confident !

This secret is just between you and me...

I don't recommend it for anyone else...

Back Off Buffalo Man...

First of all, this is what separate forex gurus from those that are struggling to take higher risk. Big E enjoying what he does because he believed in his system and enjoy every bit of his trading.
I have seen many chats that the newbies posted and traded that suppose not to have taken. Why? because the body of the HA is small. You may make few pips, but it may not be reliable on the long run. It is even easier to trade on demo but, not always on live account.According to big E, he waits to the best trade.
I will advice that looking for momentum on HA in accordance with TDI crossing should be the best set ups (IMHO). If you don't know how to read HA patterns, please Google it immediately because it is quite different and reliably better than candle sticks pattern. It will help you to understand every move and it will enlighten you to trade the best. It has helped me a lot.
Again, i dont advice average or new traders to demo trade much. Dont get me wrong!. Tt is good but quite wasting of time.
Open micro account of around $100-$200 you can give away. Feel live market move and use the least leverages. I USE OANDA that allows me to change leverage of every trade. That should be your starting point. TRADE WELL , AND TRADE THE BEST JUST AS BigE and you will keep doubling your account easily. Who knows you may not even need to add fund to your account again with this system if you trade with compound interest for the next couple of months. CHEERS!
We Win Some, We Loose Some, But Let your Win Rates be More to be Successful
  • #2,178
  • May 11, 2011 6:02am May 11, 2011 6:02am
anybody on any usd pair trade should be careful of the next 90 minutes CAD AND US TRADE BALANCE news release . They can harm your trading
We Win Some, We Loose Some, But Let your Win Rates be More to be Successful
  • #2,179
  • May 11, 2011 6:09am May 11, 2011 6:09am
Quoting adeforex
anybody on any usd pair trade should be careful of the next 90 minutes CAD AND US TRADE BALANCE news release . They can harm your trading
Thanks for heads up, tightening stops
  • #2,180
  • May 11, 2011 6:13am May 11, 2011 6:13am
eurchf 4h short anybody?
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