Good Broker for news trade | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

any broker with good spreads during news releases? 4 replies

Is it another "good news is bad news" day? 8 replies

No news is good news 0 replies

good broker needed for a online broker venture 3 replies

Good Broker for news trade

  • #1
  • First Post: Jun 4, 2006 8:17am Jun 4, 2006 8:17am
Any onw know which broker could execute trade properly during news hour?

1)When the price show up, it will execute the trade with minimum slipage or no slippage.

2)Spread stay between 4 to 5 pips max

3) Allow auto trading..

Any suguestion?
  • #2
  • Jun 4, 2006 9:02am Jun 4, 2006 9:02am
I doubt that is possible...It just moves too fast.
  • #3
  • Jun 4, 2006 9:15am Jun 4, 2006 9:15am
on most news day, oanda is fine. I experienced slippage for the first time on friday during the nonfarm employment release.
  • #4
  • Jun 4, 2006 9:28am Jun 4, 2006 9:28am
Doesn't Oanda increase spreads during news events?

Quoting nitman
on most news day, oanda is fine. I experienced slippage for the first time on friday during the nonfarm employment release.
  • #5
  • Jun 4, 2006 11:20am Jun 4, 2006 11:20am
I use FXSolutions and I've hit a slippage of a few pips, but that's only because I couldn't click the 'buy' button fast enough and had to deal with network latency, so that was my doing, not their's. Static spreads (that are quite reasonable as well), so no weird nonsense with the news trades. Their platform may not have the best charting package (but I heard that's supposed to change this month anyways), but it's simple and intuitive unlike some I've used, making news trading easier. On top of all of this, you can change your account structure on the fly by changing your leverage (up to 400:1), lot size, and default number of lots per trade, which es muy bueno para con trading the news.
  • #6
  • Jun 4, 2006 12:16pm Jun 4, 2006 12:16pm
Try www.northfinance.com
They use metatrader platform but you can set a rule called "maximum deviation" wich is ideal for what you wanna do (Scalping during news I mean or trade the data). Of course any metatrader would do but I noticed that northfinance are the less to move. Or request a demo of www.propfx.com by fxcm, no requoting, but minimum 10000$ account and needs extremely fast connection (Minimum 256k speed) and 2 pip spread but it is extremely fast, maybe faster than metatrader
  • #7
  • Jun 4, 2006 2:28pm Jun 4, 2006 2:28pm
You might checkout forex.com (Gain capital) , I used them and was satisified very much with their filling of orders. Their pip spreads do not change during news time (pretty sure about that). They have some nice convenience factors, but they don't pay interest on your margin.
  • #8
  • Jun 4, 2006 2:30pm Jun 4, 2006 2:30pm
Quoting rongshihong
Doesn't Oanda increase spreads during news events?
Yes, it does. It can go up to 10 pips, or maybe more. Depending on the market conditions.
Try hard, think fast, die young
  • #9
  • Jun 4, 2006 3:34pm Jun 4, 2006 3:34pm
I do not understand why you would trade news During volatility.
Talk to some professional News Traders and see how they do things.

What they have are things like bloomberg live news and other news provides where they get their Numbers.

Then they put in their trades before the Dumb money starts surfing with the created spread


So to wrap up, you have 2 options

1) Smart Trade with a news provider like real traders.
2)Trade the after effect with Elliot Waves ot such.

So, Good luck man.

Not to me hard about it, but I dont want to see you blow your account.




------------------------------------

Here you go, Hope this helps.






Overall, just stay away from big news. Use the FF calendar!


http://fxtrade.oanda.com/resources/s...ad_EUR_USD.png

http://fxtrade.oanda.com/resources/s...ad_GBP_USD.png

http://fxtrade.oanda.com/resources/s...ad_USD_CAD.png
  • #10
  • Jun 5, 2006 5:55am Jun 5, 2006 5:55am
Quoting avlasov
I do not understand why you would trade news During volatility.
Talk to some professional News Traders and see how they do things.

What they have are things like bloomberg live news and other news provides where they get their Numbers.

Then they put in their trades before the Dumb money starts surfing with the created spread


So to wrap up, you have 2 options

1) Smart Trade with a news provider like real traders.
2)Trade the after effect with Elliot Waves ot such.

So, Good luck man.

Not to me hard about it, but I dont want to see you blow your account.




------------------------------------

Here you go, Hope this helps.









Overall, just stay away from big news. Use the FF calendar!







Appreciate for all of the people who respond to the Q.
My plan is trade with breakout for NEWS. It seem work after some analysis and study, but it just miss my buystop on last NFP JUNE 2nd.

I will research more on all of your suggestion.

To avlasov: Bloomberg live news really faster than the those broker price quote?
  • #11
  • Jun 5, 2006 6:01am Jun 5, 2006 6:01am
Yes, bloomberg tv breaknews for me are quicker then my broker, but you must consider that bloomberg sells a quite expencive service to his clients (banks, etc) and for sure these big clients pay to receive the news on their bloomberg terminals before it is told in tv to us. And also 2 seconds make a big difference in news trading.
I saw most of times It was too late to see results on bloomberg tv and trade those.
  • #12
  • Jun 5, 2006 6:52am Jun 5, 2006 6:52am
Quoting trucco
Yes, bloomberg tv breaknews for me are quicker then my broker, but you must consider that bloomberg sells a quite expencive service to his clients (banks, etc) and for sure these big clients pay to receive the news on their bloomberg terminals before it is told in tv to us. And also 2 seconds make a big difference in news trading.
I saw most of times It was too late to see results on bloomberg tv and trade those.
Trucco do you know the website for bloomberg for selling their news service?
  • #13
  • Jun 5, 2006 6:56am Jun 5, 2006 6:56am
Web page of bloomberg is bloomberg.com, but for what i know they don't provide services via the web, but they have a dedicated network with connected terminals in the banks etc.
They install their own computers by the clients which are connected to their own private network and deliver infortation in this way. This service , which I guess inclused not only news, is quite expencive for a small trader like us.
I think this is their service.
  • #14
  • Jun 5, 2006 7:03am Jun 5, 2006 7:03am
but in my opinion trading the news after you see the data realease is too late.

To trade the news you must have a news system like bloomberg terminal for instance and be a very quick clicker

Getting into the trade after you see a news which the big fishes saw 2 seconds before you is too late. You risk to loose intead of profit
  • #15
  • Jun 5, 2006 7:14am Jun 5, 2006 7:14am
Place buystop or sellstop before the news is coming out.

Like NPF. Price always move at 14:30 CET time zone, we can place buystop or sellstop at 14:29 or 14:28. When the price move in either buystop or sellstop, our trade should be actived!

This is just my theory. I try on June 2nd(NFP) with metatrader,with EA program inside. I open 10 demo acct and run simutatenously.......

but only 1 acct is activated with BUY. It do help make profit theoretical...but practically..it seem hard.........Hope i can find a broker with can fill my buystop or sellstop during BIG news HOUR.
  • #16
  • Jun 5, 2006 7:31am Jun 5, 2006 7:31am
Trade the News has a service with 4x headlines and audible reports. I use that package for about $175/month. Personally, I am extremely satisfied with their service and you can try it for free for 1 week. I did the free trial and subscribed on the 4th day, it pays for itself easily with 1 trade.

I assume you are "scalping" the news which is the only way I have been able to make money in forex. But it's not always scalping, some of my trades last several hours, but never more than 24 hours. Maybe I don't understand the meaning of scalping though.

I have no idea how you plan to "auto-trade" the news though. Anyway, I hope the info on TTN helps you. Broker provided news is useless for this type of approach though. Good luck.
  • #17
  • Jun 5, 2006 8:46am Jun 5, 2006 8:46am
Quoting squat1962
Trade the News has a service with 4x headlines and audible reports. I use that package for about $175/month. Personally, I am extremely satisfied with their service and you can try it for free for 1 week. I did the free trial and subscribed on the 4th day, it pays for itself easily with 1 trade.

I assume you are "scalping" the news which is the only way I have been able to make money in forex. But it's not always scalping, some of my trades last several hours, but never more than 24 hours. Maybe I don't understand the meaning of scalping though.

I have no idea how you plan to "auto-trade" the news though. Anyway, I hope the info on TTN helps you. Broker provided news is useless for this type of approach though. Good luck.
I am not sure whether i am scalping or not. My trade is base on history data study on NFP. It got certain SL & TP. I know the price move too fast, and the news we usually receive is too slow. So that I come out with ideas of BUYstop & sellstop before those news come out.

I trading base on breakout certain range of price.
  • #18
  • Jun 5, 2006 9:03am Jun 5, 2006 9:03am
Well, then I only make scalping with forex. my trades don't last more then 30 minutes for sure, and in the news maybe also 30 seconds.
But what is so wrong ? I guess this is the nature of forex. What shell we do ?
shell we wait to close an operation until our profit turns into a loss ?
  • #19
  • Jun 5, 2006 9:06am Jun 5, 2006 9:06am
if your stop limit order dont work, you can always use mirroring eur/usd or bpg/usd with usd/chf and enter the position both in long or both in short and put a stop on both 15 pips or similar (this depends on you)
  • #20
  • Jun 5, 2006 9:07am Jun 5, 2006 9:07am
only for usd related news ofcourse
0 traders viewing now