Tony correct me if I am wrong, we want a buy stop entry 7 pips above with a 7 pip stop loss and a 20 pip profit tgt or a sell stop entry 7 pips below with a 7 pip stop loss and 20 pip profit tgt one cancels other correct?
Tony correct me if I am wrong, we want a buy stop entry 7 pips above with a 7 pip stop loss and a 20 pip profit tgt or a sell stop entry 7 pips below with a 7 pip stop loss and 20 pip profit tgt one cancels other correct?
Ignored
place buy and sell stop at current price 15 to 30 seconds before news
both with 7 pip SL
close asap the one that didn't get filled.
try to set SL at BE asap.
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Joined Aug 2010
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Status: Forex Trader
|135 Posts
Again I thank Tony for this information again. I know that Tony does not like EAs, but to operate in news, is recommended because it automates the process and so is safest.
Invest in creating their EAs, because one day you need one!
Tony correct me if I am wrong, we want a buy stop entry 7 pips above with a 7 pip stop loss and a 20 pip profit tgt or a sell stop entry 7 pips below with a 7 pip stop loss and 20 pip profit tgt one cancels other correct?
Ignored
You got it right, if you have the balls you can set a tp 50 - 100 pips for major news
{quote}i would recommend you do this on a live account, even if it means you are doing on mini lots. Live and Demo are totally different while news trading.
Ignored
I know and I agree. Learning the mechanics now. When I start to show some profits then go live with small lots. Then prove profits before going normal lots.
SL for French both manual and EA in demo. Germany in 20 minutes.
