Trade the News System

Hello everybody! I am Noeliu and want to share a system to trade the News. And when I say News I mean big Market moving News.Understand that this system ignores indicators or what pair do you choose. We will discuss what pairs react better for this system.
This thread is to explain this very simple system, and then, everybody please post the results (trade size in % of account / reward or rewards / problems in a particular trade)


1st Look at the Calendar and choose the bigger Market Mover News (we will refer to them simpli with News)

2nd Set an alarm clock or reminder on your phone 15 minutes before those News. (This way you can turn on your computer, login to your broker and find the correct chart)

3rd 2 or 3 minutes before the News watch as the price nearly stalls (consolidate), and then place 2 market orders. One Long / One Short.

4th Set the TP of the two trades at 5/10/15 pips depending on the size of the News. (If your broker allows for that, set a tight Trailing Stop of 5 pips) (We will discuss what way gives better results, and if trailing works on high volatility spikes with your broker)

5th Watch both TP get triggered

6th Smile

7th Come to this thread and post your results.


This system is very simple, so, any updates will be always on the first post (or references to them)


edit:Similar system explanation attached on post N 5.

You obviously have not tried this, if you had you would know that it will not work

reasons:

1) at major news time the allowable SL levels get widened, ie: 10-20 pips for EU is normal on a retail mt4 account so you will not be able to put your stops where you want

2) close liquidity disappears at the moment of the news, hence the spikes - often in both directions. So even if you have stops there are likely to get jumped giving much bigger losses than you think

3) with the often double spike, it is more likely both SL will get triggered than either TP and the TP even if triggered could end in a loss as they will get executed during the spiking.



There is a way to do this kind of trading, but you will find that this is not it.

regards

Like said MaxDoom, this will be the SL you will have to watch ...

On a LIVE account, you have very small chance to survive with that kind of strategy.

Here's an update . . .

Ignore this "system."

let's say we trade non farm payroll, this event will makes spread bigger than normal.
For example GBPUSD has spread 5-10 pips, in big news situation this spread will change into 50+ pips!! so I think your system wouldn't work

--------
atr system

Maxdoom and pindang: What broker do you use? My broker has fixed spread and that does NOT happen. ¿?¿
And yes... I've tried it live and it works. It's a variation of this system I will post. I'm not saying that you have to try it, but anyone can give it a try on demo and see if for himself.

If you play with no stop loss, what makes you think they won't be two much bigger winners than you think?

I'll do this tomorrow on USDFed Chairman Bernanke Speaks and will post the results.

did you mean pending order?
last time , 3 mei 2013 , im lost in nfp , i use this strategy, buy stop 10 pip above the price, sell stop 10 pip below the price.

what happen? my pending order, is open all , iam lost......