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  • #21
  • Apr 8, 2006 1:39am Apr 8, 2006 1:39am
Quoting WTB
In my opinion, NFP and any other single fundamental announcement, barely affect the general direction of a currency. They sure spike the price in the intraday scope, but once the dust settles, the price resumes its merry way as it was meant to.

In the other hand, interest rates (or announcements that might influence the Central Bank rates policy) is where the real sauce of fundamentals is.
Before the news came out I already was up with the dollar and then when the news came out it spiked negative and then corrected itself by going to the positive for the dollar . Made some good pips and still going to that direction.
  • #22
  • Apr 8, 2006 4:09am Apr 8, 2006 4:09am
Quoting mvitachi
Before the news came out I already was up with the dollar and then when the news came out it spiked negative and then corrected itself by going to the positive for the dollar . Made some good pips and still going to that direction.
Not be disrespectful, but doesnt that kind of sound like playing a lottery where the trader is under the market's (or announcement's) mercy and without any control whatsoever of the situation?
  • #23
  • Apr 8, 2006 10:30am Apr 8, 2006 10:30am
It is not at all playing a lottery or gambling if you place the trade after the news event, when the risk has disapated. see my last few posts in the Trading the news thread... Posts #90 thru 100 is the detailed description. This was a high probability trade with sound MM and %R, for my account size. I have been making this type of trade for about three years with about 83% success.
The opposite side of the channel is the stop.

Mine is now a solid V4 trade.

SMJ


Quoting WTB
Not be disrespectful, but doesnt that kind of sound like playing a lottery where the trader is under the market's (or announcement's) mercy and without any control whatsoever of the situation?
  • #24
  • Apr 8, 2006 11:46am Apr 8, 2006 11:46am
Quoting smjones
It is not at all playing a lottery or gambling if you place the trade after the news event, when the risk has disapated...This was a high probability trade with sound MM and %R, for my account size...SMJ
Thanks for that post S. I too only enter "news-trades" after the noise settles and there is confirmation on TA/MM rules of engagement. . . And i find them to be some of the most successful trades in my short time (~10 months) of trading. I must say i don't go in full guns, each has been far less than 2% even if i've added additional units after confirming...the confirmation ; - ) I will begin a news-trade with 2 units of my allocated 1%mm.

And hey, i'm still a bit of an adrenalin junkie even as i near my 50th!

Thom
  • #25
  • Last Post: Apr 9, 2006 3:37pm Apr 9, 2006 3:37pm
Quoting WTB
Not be disrespectful, but doesnt that kind of sound like playing a lottery where the trader is under the market's (or announcement's) mercy and without any control whatsoever of the situation?
Well, I didn't think of it as a lottery. I just had a big stoploss and if it did hit my stoploss then it would be fine and when it didn't it was much better. I was just going with the trend of my strategy.
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