straddling at news time | Forex Factory

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straddling at news time

  • #1
  • First Post: Jun 24, 2006 1:43am Jun 24, 2006 1:43am
Could someone tell me where I could find a system for straddling at news time.Is this a strategy that works.
Also I read in another post here that one can find out how banks are positioning themselves before news time and it can be beneficial to do the same.
I would like to hear any info or opinions that anyone may have on these topics.
thanks
  • #2
  • Jun 24, 2006 5:59am Jun 24, 2006 5:59am
I started trading news with the method posted by smjones
from this thread:

http://www.forexfactory.com/forexfor...highlight=news


It has worked very well for me.
  • #3
  • Jun 27, 2006 11:21am Jun 27, 2006 11:21am
Be aware that if you have a buy order and a sell order for determined limits, you might hit your stop on both and lose the spread plus the stop-loss. Choose your risk accordingly.

I don't trade the news as spreads are higher, and I have a fear of closing far from my stop-losses (soemthing that wouldn't happen at any other time, but I don't know how likely or unlikely it is during the news). Trading several minutes after the news should be okay, but I would imagine profitability resides with manual rather than automatic trading: A program knows when a limit has been reached by price but not what the chart 'looks like' (i.e. exaustion gap, continuation in the same direction) at the time that limit is reached.
  • #4
  • Jun 27, 2006 11:37am Jun 27, 2006 11:37am
I would use an OCO in this case.



Quoting binary
Be aware that if you have a buy order and a sell order for determined limits, you might hit your stop on both and lose the spread plus the stop-loss. Choose your risk accordingly.

I don't trade the news as spreads are higher, and I have a fear of closing far from my stop-losses (soemthing that wouldn't happen at any other time, but I don't know how likely or unlikely it is during the news). Trading several minutes after the news should be okay, but I would imagine profitability resides with manual rather than automatic trading: A program knows when a limit has been reached by price but not what the chart 'looks like' (i.e. exaustion gap, continuation in the same direction) at the time that limit is reached.
  • #5
  • Jun 27, 2006 9:30pm Jun 27, 2006 9:30pm
Quoting smjones
I would use an OCO in this case.
What's an OCO? Thanks
  • #6
  • Jun 27, 2006 10:00pm Jun 27, 2006 10:00pm
One Cancels the Other....
I don't know of any 4x MMs that have that type of order entry....maybe international brokers
Same Whore .... Different Dress
  • #7
  • Last Post: Jun 28, 2006 6:20am Jun 28, 2006 6:20am
My broker does and they also have if done type orders... MGforex, but their platform is outdated and they do not offer hedging or micros or MT4. They do have very nice order sturcture though.

Quoting johnedoe
One Cancels the Other....
I don't know of any 4x MMs that have that type of order entry....maybe international brokers
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