Yah i didnt have the balls to take the countertrend trade which was worth another 100pips lol but ok, dont get greedy. Tomorrow's another day. The only rule i do not stick to from Fav...i love trading NFP fridays tbh..just wait until price settles into one direction and hop on the train. Like today. Should be fine.
Daytrading/scalping with high leverage - my proven strategy
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Oh well Im done for today, doubled my account and plus some! 
But the sale took 110 pips.
Today is a great day for our system! I wonder how many took the Favourite?
{quote} A ver, creo que eres espaņol por el "saludos" jeje, tienes en las instrucciones las noticias importantes, a no ser que cambies de par y tengas que buscar tu las noticias que le afecten. Las del manual son para EURJPY. HOY SEGUN LAS REGLAS NO SE HACE TRADING = NFP EN EEUU. Esto pasa creo que todos los primeros viernes de mes. Lo del empleo de austria no afecta, lo demas sí que moverá el precio, asi que mejor quedarse fuera 60min antes, pero lo dicho, te da igual porque hoy no se debe hacer trading en todo el dia. EDITO: Disculpa...
Gracias tonimg. I'm a native english speaker but I do speak lots of spanish too. Currently living in latin america. Visited Barcelona a couple of years back. Where in Spain are you? Beautiful country. I'd like to live there one day.
Back to the news... It sounds like most of you are trading the London open. So on a NFP day (like this Friday) at what time (GMT?) would you stop trading? I know Fav said that he wouldn't trade all day but does that mean an hour before the NFP (which is announced one hour before the New York open) or would that be the whole London session before the NFP as well?
Thanks for your reply. Saludos y disfruta unos pinchos para mi
Tight Stop Losses are False Economy - RJ
{quote} Hy Fav do not trade on NFP day...if i remember correct...and today we have Minimum Bid Rate... I do not think that you have to take very strictly the rule of 30m before/60m after In my opinion...this is a scalping strategy, so...we have small SL/TP For that, we are more exposed to haotic moves of the market in the news time (fake spikes, high spread, etc).For ex...yesterday at 19:00GMT (FOMC Statement) I chose not to trade from 1 to 3 May...but is only my low risk apetit...
way to go!)So I to be a 'safe' trader according Fav's system we could stay out of the market 30M prior to news and 60M after if we see the price action is very volatile. If the news is as expected and the market digests it quickly we are free to get back in... (I'm thinking out loud right now, haha)
Thank you for the feedback.
Tight Stop Losses are False Economy - RJ
- #3,592
- May 2, 2013 8:57am May 2, 2013 8:57am
{quote} Gracias tonimg. I'm a native english speaker but I do speak lots of spanish too. Currently living in latin america. Visited Barcelona a couple of years back. Where in Spain are you? Beautiful country. I'd like to live there one day. Back to the news... It sounds like most of you are trading the London open. So on a NFP day (like this Friday) at what time (GMT?) would you stop trading? I know Fav said that he wouldn't trade all day but does that mean an hour before the NFP (which is announced one hour before the New York open) or would that...
. dont know if its the right approach but if it gets hit at BE with slippage obviously i just settle in on the established trend then.
{quote} I wont open new trades 30 minutes before the news, and try to exit my negative trades asap. If im in the positive i will set BE and just hope it goes my direction
Thanks
Tight Stop Losses are False Economy - RJ
{quote} I like that approach Baccarat. On a similar thought, it seems Simonik puts her SL to BE when she has 5 pips profit on the EUR/USD which I think is great trade management. Anyone else do this with Babon? I would think on JPY crosses 8 pips would be more suitable... Thoughts? Thanks
I do not have a strong rule about BE...but if i "bend" some rules of the system, or i see that PA is moving funny...i secure the position ASAP
By putting sl at be...you will have many trades closing... and after that ....going to your direction
but
By putting sl at be (or be+x)...you will be more relaxed
difficult choice.....
Look like a girl, act like a lady, think like a man and work like a dog.
{quote} It is a loooong discussion about BE... there is positive/negative things about that.... I do not have a strong rule about BE...but if i "bend" some rules of the system, or i see that PA is moving funny...i secure the position ASAP By putting sl at be...you will have many trades closing... and after that ....going to your direction
Yeah I find the same thing too. Maybe a trailing stop would be better. The hard part for me is leaving the original stop and manually closing the trade if its going against me so I need to use some sort of SL manipulation to cut losses.
Tight Stop Losses are False Economy - RJ
{quote} Yeah I find the same thing too. Maybe a trailing stop would be better. The hard part for me is leaving the original stop and manually closing the trade if its going against me so I need to use some sort of SL manipulation to cut losses.
There are some good ea`s here on FF for set SL at BE automatic
Look like a girl, act like a lady, think like a man and work like a dog.
