*** Question to all those who trade UNDER NEWS ***

Quoting ItalianSharp

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Do you place stop entry orders before the news at your desired level or you enter at market?

Assuming you place entry stops, how are you orders handled when the market gaps by 20-30 pips?

This whole news thing is one of the few things I am still not getting about FOREX.

For example, today I had a short signal on EURUSD with entry @ around 2640.

Prices ranged before trade balance announcement, so at 8am i removed my stop entries and waited for the news to come out.

My rule is that I only participate to news announcements if my order gets filled at least 30 minutes prior to the news. If I am not in the market by then, I'll wait another 15-30 mins after the news and wait for volatility to settle down.

By doing this, I capitalized on many opportunities created by news announcements and exploit new patterns created by high volatility.

However, its pretty frustrating to sit here and watch the dollar make new lows when I had a short signal...

I dont mean to be too conservative, but I feel like trading under news is pure speculative trading which doesnt need tech analysis at all.

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Quoting ItalianSharp

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Do you place stop entry orders before the news at your desired level or you enter at market?

Assuming you place entry stops, how are you orders handled when the market gaps by 20-30 pips?

This whole news thing is one of the few things I am still not getting about FOREX.

For example, today I had a short signal on EURUSD with entry @ around 2640.

Prices ranged before trade balance announcement, so at 8am i removed my stop entries and waited for the news to come out.

My rule is that I only participate to news announcements if my order gets filled at least 30 minutes prior to the news. If I am not in the market by then, I'll wait another 15-30 mins after the news and wait for volatility to settle down.

By doing this, I capitalized on many opportunities created by news announcements and exploit new patterns created by high volatility.

However, its pretty frustrating to sit here and watch the dollar make new lows when I had a short signal...

I dont mean to be too conservative, but I feel like trading under news is pure speculative trading which doesnt need tech analysis at all.

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Quoting ItalianSharp

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This whole news thing is one of the few things I am still not getting about FOREX.

..................
I dont mean to be too conservative, but I feel like trading under news is pure speculative trading which doesnt need tech analysis at all.

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Quoting renasdad

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Here is a thread from Oanda. It is very long. The way those guys bash each other over at Oanda (like any other forum but forex factory), this one has gone on a very long time so I think it has alot of really good stuff in it.http://www2.oanda.com/cgi-bin/msgboa...;f=15;t=004549

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Quoting trucco

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yes, is speculative for sure.
But I dont understand, you have to put an order 30 minutes before to be accepted ?!

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Quoting trucco

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all forex is speculative, why shouldn't news be also ?

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Quoting witchazel

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im begining to think the news doesnt have anything to do with the market change. but since there is an "event" everyone is there to grab it.


It is fun to make more money then you did all week at once tho

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Quoting ItalianSharp

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If my system produces a trading signal BEFORE the news, I am allowed to enter the market up to 30 minutes before news announcement.

Lets take EURUSD today as an example.

At 6am ET I had a short signal on the EURUSD. Entry level was around 2640.

My rules allow me to seek for entry at that level up to 8am, i.e. 30 minutes prior to trade balance figures being released.

As EURUSD never hit 2640 by 8am, I removed my orders and waited for news announcement to come out.

At that point, I am just waiting to see how the market reacts to the news and re-evaluate the whole picture again after volatily has settled down. It usually takes 15 to 30 minutes for volatility to settle down to normal levels depending on the news.

Right now, after seeing the EURO making new lows and retracing all the way back up and make new highs, I am happy I stayed out of this trade as it would have been a small loser or a scratch at best.

This is how I adjust my trading to important news announcements. I feel more comfortable trading under less volatility and less speculation.

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Quoting ItalianSharp

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If my system produces a trading signal BEFORE the news, I am allowed to enter the market up to 30 minutes before news announcement.

Lets take EURUSD today as an example.

At 6am ET I had a short signal on the EURUSD. Entry level was around 2640.

My rules allow me to seek for entry at that level up to 8am, i.e. 30 minutes prior to trade balance figures being released.

As EURUSD never hit 2640 by 8am, I removed my orders and waited for news announcement to come out.

At that point, I am just waiting to see how the market reacts to the news and re-evaluate the whole picture again after volatily has settled down. It usually takes 15 to 30 minutes for volatility to settle down to normal levels depending on the news.

Right now, after seeing the EURO making new lows and retracing all the way back up and make new highs, I am happy I stayed out of this trade as it would have been a small loser or a scratch at best.

This is how I adjust my trading to important news announcements. I feel more comfortable trading under less volatility and less speculation.

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Quoting PeterFM

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Hi
I don't profess to any great knowledge or skills but newbies like me are advised to stay clear.
I got burned just now on the EUR (read it all wrong) but got my losses back and a bit more shorting the retracement on the Swissie. (James and Dial have just thrown their hands in the air, wondering if they're wasting their time with some of us LOL). But I did watch for a pin that developed on the 15 min chart before I played. (Do I hear another loud sigh?)
I know of at least one full time trader who never plays the news, you can watch some serious discussions on this link in the forum.

http://www.forexfactory.com/forexfor...ighlight=video

(Hope that worked)

Peter

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Quoting trucco

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Im sorry Italiansharp, i cant get you. You have a broker which does not allow you to put an order just a minute before the news ?!

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Quoting ItalianSharp

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No way, my broker is just fine!

I can place orders anytime I want to, its just my personal trading rules that dont allow me to trade 30 mins prior to and 30 mins after the news.

Clear now?

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Quoting Bemac

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I think what ItalianSharp is saying is that...

He Places an Entry Stop Order based soley on his system {irregardless of any pending news}

If the price does not reach {trigger} his Entry Stop Level at least 30 minutes before a major News Release, he cancells the order and now is resolved to wait ~ 45 minutes before he will consider entering a New Trade.

45 Minutes because 30 Minutes BEFORE release + 15 Minutes AFTER Release is his "NO NEW TRADE ZONE".

It's not about his Brkr taking 30 minutes to fill a Mkt Order.

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Quoting trucco

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ah, ok, thats clear now
by the way , your english is perfect, you lived abroad ?

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