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  • #8,961
  • Oct 24, 2013 5:06am Oct 24, 2013 5:06am
The thing is that you must have really good broker, min spread, no slippages/requotes.
  • #8,962
  • Oct 24, 2013 5:16am Oct 24, 2013 5:16am
Quoting 3spak
Buystop and Sellstop 10-15 sec before news release, offset 5-10 (depending on spread of your broker, I will do 7), TP as soon as possible, I use EA for this, 1 pip in profit->Sl to BE and then let it float (at least 100p).
Thanks. Lots of questions!

I assume if your buystop is hit you cancel the sellstop?
What's your original stoploss for the buystop/sellstop?
Could I ask who you're using as a broker?
Also, does your EA place the trades or just move the stops to BE?
  • #8,963
  • Oct 24, 2013 6:49am Oct 24, 2013 6:49am
Quoting TheMaxx
{quote} Thanks. Lots of questions! I assume if your buystop is hit you cancel the sellstop? What's your original stoploss for the buystop/sellstop? Could I ask who you're using as a broker? Also, does your EA place the trades or just move the stops to BE?

I am using EA, this is avaible in this thread (look up in the corner) named News Trading. It automatically deletes the other order. SL is 2-3 pips more than gap of orders. My current broker is Admiral Markets and I am using Pro account, there is avaiable mt5 as well (much better) but currently I am developing EA for mt5. EA does all the job for you. The main thing is that order execution must be very fast (broker).
  • #8,964
  • Oct 24, 2013 8:18am Oct 24, 2013 8:18am
Thanks!
  • #8,965
  • Oct 25, 2013 3:05am Oct 25, 2013 3:05am
bad experience with the 3 last news. Even IFO went down. Ah well
Invest in alarm clocks
  • #8,966
  • Oct 25, 2013 3:11am Oct 25, 2013 3:11am
Quoting Tony112
bad experience with the 3 last news. Even IFO went down. Ah well
earth didn't move... where was the thunder and lightning
  • #8,967
  • Oct 25, 2013 3:17am Oct 25, 2013 3:17am
Next up UK GDP at 09.30 GMT.
Tellboy
  • #8,968
  • Oct 25, 2013 3:30am Oct 25, 2013 3:30am
No Account doubling for me today....
  • #8,969
  • Oct 25, 2013 3:33am Oct 25, 2013 3:33am
eur usd still looks long biased
  • #8,970
  • Oct 25, 2013 3:41am Oct 25, 2013 3:41am
Knocked up 52 pips on UK GDP despite the neutral news and a whipsaw. I made a note that whipsaw began at precisely 09.29.30. Lucky I entered on the GBP reversal off the 16200 support with a wide stop that escaped the whipsaw.
Tellboy
  • #8,971
  • Oct 25, 2013 4:08am Oct 25, 2013 4:08am
Quoting tellboy
Knocked up 52 pips on UK GDP despite the neutral news and a whipsaw. I made a note that whipsaw began at precisely 09.29.30. Lucky I entered on the GBP reversal off the 16200 support with a wide stop that escaped the whipsaw.

nice one tellboy! think u meant UK GDP at 08.30 GMT.
  • #8,972
  • Oct 25, 2013 5:06am Oct 25, 2013 5:06am
Hello all,

Tony thanks for a great thread

I have read this thread from 14th Sept 2013. I just have 1 question if Tony or any one else could kindly answer.

What if I do hedging and place market orders of BUY & SELL both with SL:10-15 and TP: 50 on both orders.

I know the thread rules are to BUY only, but this is just a what-if analysis for my understanding.

The trade may go either way and I can be assured that I will win 50 pips and lose 10-15 pips. So, I will be netting 50-15=35 pips.

What is wrong with this approach?

P.S. I am a forex newbie so overlook my lack of understanding.
  • #8,973
  • Oct 25, 2013 8:03am Oct 25, 2013 8:03am
Quoting aarizahmad
Hello all, Tony thanks for a great thread I have read this thread from 14th Sept 2013. I just have 1 question if Tony or any one else could kindly answer. What if I do hedging and place market orders of BUY & SELL both with SL:10-15 and TP: 50 on both orders. I know the thread rules are to BUY only, but this is just a what-if analysis for my understanding. The trade may go either way and I can be assured that I will win 50 pips and lose 10-15 pips. So, I will be netting 50-15=35 pips. What is wrong with this approach? P.S. I am a forex newbie...

It works but I personally don't do that. Why? because once the news is on, I control my stop-loss, drag it gradually to 0 and do all types of other management, look how price is moving, correct my sl to +5, -5, etc.... so that can't be done in double. Id keep it simple.
Invest in alarm clocks
  • #8,974
  • Oct 25, 2013 8:06am Oct 25, 2013 8:06am
We'll have to be patient mates. My next trade is scheduled on the 7th of November (ECP press conference) and then 8th of November, NFP. It takes so much patience I pray that I make it.
Invest in alarm clocks
  • #8,975
  • Oct 26, 2013 7:45am Oct 26, 2013 7:45am
Quoting aarizahmad
Hello all, Tony thanks for a great thread I have read this thread from 14th Sept 2013. I just have 1 question if Tony or any one else could kindly answer. What if I do hedging and place market orders of BUY & SELL both with SL:10-15 and TP: 50 on both orders. I know the thread rules are to BUY only, but this is just a what-if analysis for my understanding. The trade may go either way and I can be assured that I will win 50 pips and lose 10-15 pips. So, I will be netting 50-15=35 pips. What is wrong with this approach? P.S. I am a forex newbie...

not all news/results make a 50 pip move , you have to also keep in mind the fake spikes that happens on some news, and can trigger both your SL.
SL have requote too, depending on the news your sl my drift from 10-15 pip to over 30.

news trading can be very profitable if you know what you're doing, but you need to do some serious homework first.
you need to know what news to trade, what the outcome maybe according to the historical impact on the pair you want to trade, the spread/latency of your broker....
also, all news are different, you won't trade the NFP like you would trade the French Flash Manufacturing PMI.....
i don't know if tony trade that way, but its profitable for me.
i lose money for a living
  • #8,976
  • Oct 26, 2013 3:03pm Oct 26, 2013 3:03pm
result
Attached Image
Invest in alarm clocks
  • #8,977
  • Oct 27, 2013 9:00pm Oct 27, 2013 9:00pm
Guys, I'm a little melancholic here. I can't believe what I'm seeing. I'm going through my whole thread since the beginning and I'm noticing how ENORMOUSLY the market has changed. It's not the same volatility at all. 5 pip seconds candles used to make such straddles before... everything has changed sooo much I can't even explain.
Invest in alarm clocks
  • #8,978
  • Oct 28, 2013 7:34am Oct 28, 2013 7:34am
Quoting Tony112
Guys, I'm a little melancholic here. I can't believe what I'm seeing. I'm going through my whole thread since the beginning and I'm noticing how ENORMOUSLY the market has changed. It's not the same volatility at all. 5 pip seconds candles used to make such straddles before... everything has changed sooo much I can't even explain.
Dear Tony,
This might be because you shared your holy grail with the world. The big players never want immensely money making systems in the public domain, they want to discourage every winning system. One has rightly said that a secret remains a secret until it is not disclosed but once disclosed it is no more a secret. That might be the reason that most of the profitable traders do not reveal their secret lethal weapons with other.

But any ways you are a super guy that have remained on the thread for 4 years and have provided others with so many pips (profits) and that to in matter of seconds and minutes. Great job!

TC
  • #8,979
  • Oct 28, 2013 10:26am Oct 28, 2013 10:26am
Sell euro


break. 1.3775
Invest in alarm clocks
  • #8,980
  • Oct 28, 2013 3:41pm Oct 28, 2013 3:41pm
Quoting Tony112
Sell euro break. 1.3775


humm.... looks like someone is on a gambling mode again
i lose money for a living
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