I will buy the EURUSD at 1.2885 .
- #729,023
- Dec 7, 2012 7:17am Dec 7, 2012 7:17am
- | Commercial User | Joined Feb 2010 | 13,260 Posts
The ballsy approach to NFP.......
1. decide on the amount you are willing to lose as a SL
2. using the current price a few minutes before news release place a buy order half your SL above price a sell order half SL below
3. do not place SL orders on those trades each is the sl for the other
Possible outcomes.....
1. It leaps one direction you get filled move the other trade to the entry price of the first you are now BE in direction of travel
2. It goes one way triggers your order, goes the other way triggers the other you are now flat with two open orders running P&L is your SL value (-ve) you can try and manage this - hopefully it will trend onwards close the loser keep the winner for a net gain. otherwise close both at same time you hit your SL
Risks: it leaps your price and you get filled miles away then it reverses to your other trade and your running SL is greater than wanted
VERY VERY HIGH RISK but it can be done
1. decide on the amount you are willing to lose as a SL
2. using the current price a few minutes before news release place a buy order half your SL above price a sell order half SL below
3. do not place SL orders on those trades each is the sl for the other
Possible outcomes.....
1. It leaps one direction you get filled move the other trade to the entry price of the first you are now BE in direction of travel
2. It goes one way triggers your order, goes the other way triggers the other you are now flat with two open orders running P&L is your SL value (-ve) you can try and manage this - hopefully it will trend onwards close the loser keep the winner for a net gain. otherwise close both at same time you hit your SL
Risks: it leaps your price and you get filled miles away then it reverses to your other trade and your running SL is greater than wanted
VERY VERY HIGH RISK but it can be done
- #729,025
- Dec 7, 2012 7:20am Dec 7, 2012 7:20am
- | Joined Dec 2011 | Status: NZ Trader | 1,652 Posts
Even the worst trade can close with profit. Just give it time.
- #729,026
- Dec 7, 2012 7:20am Dec 7, 2012 7:20am
- | Commercial User | Joined Feb 2010 | 13,260 Posts
Max,
do you see NFP as a trigger to short?
oh but I am already long
- #729,027
- Dec 7, 2012 7:22am Dec 7, 2012 7:22am
- | Membership Revoked | Joined Mar 2009 | 16,693 Posts
- #729,030
- Dec 7, 2012 7:24am Dec 7, 2012 7:24am
- Joined Aug 2008 | Status: Fear makes us see who we really are | 4,822 Posts
If 25/30 does not cap NFP first move upwards, then all this crap is a dip, whole week 
Dollar index is in position where it will test open-close weekly big sell candle half way 3 weeks back then.
That would mean right now around 40-50 pip drop from 1.2910. (up to half way in index).
Dollar index is in position where it will test open-close weekly big sell candle half way 3 weeks back then.
That would mean right now around 40-50 pip drop from 1.2910. (up to half way in index).
They think they are smarter than I am.
- #729,031
- Dec 7, 2012 7:25am Dec 7, 2012 7:25am
- | Joined Dec 2011 | Status: NZ Trader | 1,652 Posts
Even the worst trade can close with profit. Just give it time.
- #729,032
- Dec 7, 2012 7:25am Dec 7, 2012 7:25am
- Joined Aug 2009 | Status: Trader | 12,448 Posts
Good luck, you're definately going to need it!!!!
im with KillerWhale, no way in hell buying Euro
If you are new to Forex? Say Goodbye to your account!!
- #729,034
- Dec 7, 2012 7:27am Dec 7, 2012 7:27am
- | Joined Dec 2011 | Status: NZ Trader | 1,652 Posts
CAD/JPY good short @ 83.50ish imo
Even the worst trade can close with profit. Just give it time.
- #729,035
- Dec 7, 2012 7:28am Dec 7, 2012 7:28am
- | Joined Dec 2011 | Status: NZ Trader | 1,652 Posts
Go on, I dare you
Even the worst trade can close with profit. Just give it time.
- #729,039
- Dec 7, 2012 7:33am Dec 7, 2012 7:33am
city bank target $1.20
Note that Citi was also bailed out, due to bad mortages, credits, collections and of course, forecasts:
Nov 23 Citigroup Bailed Out The Treasury announces that it will invest $20 billion more in Citigroup; this is in addition to a $25 billion investment in October through the Capital Purchase Program. The government also agrees to use up to $5 billion to help Citi absorb losses from a $301 billion pool of assets.
(from) http://projects.propublica.org/bailout/main/timeline
your domestic HSBC will be able to give you a more accurate forecast for 2013.
not affiliated with them but I learned to use them from the company I used to work with. After 8 years, still impeccable!
