Central Banks & Big Players

Look like I'll have to pin a bit of hope on the ISM Mgf Index coming up at 10 am ET. I reckon this would be a 15 pips SL thing....

BE hit on GBP news, no loss no gain

HI, I'm new here just want to know how to get the 5 sec. chart?
Cheers!

Hi, you can create a free practice account @ Oanda.com you will get the 5 sec candles

anyone trading US ISM?

instant elevation!!

ISM Worked out pretty good for me...

Start planning for tomorrow. For me, the news that I favour might be US Trade Balance.

I trade ISM and got 11 pips only.

An easy and stress free 11 pip is always a good thing!

try to bring sl to break even and let the price run

if u wana lock in profits, mayb can try to bring sl to each swing low that forms

i got abt 30 pips off this

This one was nice. Someone have some screenshots with trades?

I'm still working on the optimal exit strategy.

The stress free way is to have a trailing stop at 8 - 10 pips, which I used to good enough effect in that profits is assured but smaller.

But I do leave heck of a lot on the table. Like big releases like ISM, it potentially could yield about 60 pips, or 2 X 15 mins candle of pure elevation. However the agony of holding on for dear life during this 15 mins makes this really tough to bear. Setting a blanket 50 to 60 pips might be feasible, but it's pretty much a judgement call based on experience.

Frankly I do not have many profitable experience until I stumble into this thread, my biggest record gain was about 40 pips IIRC, my losses I rather not talk about it . So it's rather hard for me to figure out what is a decent profit target for different kind of news event. So it's pretty much a trial and error. But I am glad I'm finally making some headways towards recovering my losses in the past few months... Tony I just can't thank you enough!

yea its not easy to have an optimal exit strategy.
For example this ISM trade could hav bagged at least 70pips now, but i TP with only 30 pips.


Tony has always teach us to jus set SL to breakeven and let the trade run.

But it's not easy to watch ur profits go up to 40, 50, 60 pips, and then price went the opposite direction and u got SL at breakeven.

its hard,
but i guess its sort of u either breakeven, or u strike it real big!

Yea! That's why I have been trying to find an optimal balance. To me a break-even is the just slightly better than making a loss, but to get back to break-even from what would had been a profitable trade, that's not idea to me. As we can only count with two hands how many trade worthy news there are in any month, I personally feel we need to at least come back with something every trade, even if it's just a 10 pips gain.

I am thinking of slightly modifying my approach, so that at some point in the lifespan of the trade, I guarantee myself at least some pips for the efforts put in but without leaving too much on the table. One observation I have made is for the first 15 mins of the trade, there is very little reason to exit the trade, so maybe I'll play around with a 15 - 20 pips trailing stop. And when the 2nd 15 mins of the trade comes, I'll probably gradually narrow down to 10, then to 5 pips progressively. As I am not good at putting TP... Ill probably standardise to 60 pips every time, I'm not sure.

I think market is getting more and more volatile and unpredictable, so the plans I have might not work for very long.

looks like price is running for a 100pips now.
anyone still in the trade?

edit: damn its over 100pips now

yep, about 120 pips right now....

fell so bad to look at this ;(

Tony, how much profit we move the SL to 0 or profit?

thiagocanuto, do you translate your posts by some translators? i am not native english speaker and propably make a lot of mistakes, but your posts are just funny

don't get me wrong, but they look like created by some translator

When/If price shoots in your direction you put it to BE almost instantly