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  • #21
  • Jul 7, 2006 8:44am Jul 7, 2006 8:44am
1min before using Oanda I set limit 6pip away on both sides w/ a five stop.

then just start taking profits in 1/4's

+47+49+57+62 = 53pips today


Great way to end the week


turbo
  • #22
  • Jul 7, 2006 8:45am Jul 7, 2006 8:45am
Too bad I traded EURUSD today, I catch part of move and part of retracement. Would I trade GBPUSD I would make 3 times more. And I still a noob. I used strategy Habeeb posted somewhere.

Sorry. Look here http://www.forexfactory.com/forexfor...ead.php?t=4256
  • #23
  • Jul 7, 2006 8:58am Jul 7, 2006 8:58am
Quoting turbokaos
1min before using Oanda I set limit 6pip away on both sides w/ a five stop.

then just start taking profits in 1/4's

+47+49+57+62 = 53pips today


Great way to end the week


turbo
Nice trade. A little too aggressive on your limit orders for my taste, but I don't know what your experience is, so... as you probably are aware, you run the risk of getting whipsawed. A little less of a risk with NFP versus, say, CPI reports, but nevertheless, the risk is there.
Mr. Trend
  • #24
  • Jul 7, 2006 9:12am Jul 7, 2006 9:12am
Stockwet, No prob at all. I was just pointing out that it is a tricky trade.

Scott
  • #25
  • Jul 7, 2006 10:44am Jul 7, 2006 10:44am
Quoting smjones
Stockwet, No prob at all. I was just pointing out that it is a tricky trade.

Scott
Well, I definitely agree with you. I still get mixed signals with my system which cause me to sit out at times. I'm leaning toward capital preservation these days along with conservative money management. I could probably use a few more NFP's on demo myself!
  • #26
  • Jul 8, 2006 10:02am Jul 8, 2006 10:02am
Quoting Mr Trend
Nice trade. A little too aggressive on your limit orders for my taste, but I don't know what your experience is, so... as you probably are aware, you run the risk of getting whipsawed. A little less of a risk with NFP versus, say, CPI reports, but nevertheless, the risk is there.
Deff risk their that why I do that with a real small account and don't know how long there going to let this go on. lol My normal trading is done threw HotspotFXi & ODL/RBS.


turbo
  • #27
  • Jul 8, 2006 11:35am Jul 8, 2006 11:35am
there are ways to trade news that don't involve getting the information before anyone else. if you contact 4dluv of 4x you can understand what he does very successfully.
in a nutshell he establishes the point at which news comes out as point A and the tip of the initial burst as point B. when price breaks on of these points he goes in the direction of the momentum. pretty simple and i would say 80%+ effective.
  • #28
  • Jul 11, 2006 1:28am Jul 11, 2006 1:28am
Quoting stockwet
Actually, I love trading NFP. Call me crazy, I guess. I'd say that if you want to trade the NFP, look at every NFP move for the past year. Look at what the candles looked like going into it. Find repeating patterns that you can base a set of rules on. Then, trade it demo for a while. I've developed my own system that does pretty well on NFP day. Most people fear it because they don't have a systematic way of trading it.
Trading NFP on a demo is not the same as on real account.
Your orders will not be executed the same way during NFP.
It all looks nice on a demo but in reality it isn't that easy.
You'll get re-quotes, slippage, no-entry and/or manual execution.
Staying out is your safest bet unless you're a newbie, who
needs to burn out in order to learn it the hard way...
It was easy couple of years ago but now brokers have made it
difficult to trade during NFP. So if you made this comment
2 years ago I would agree with you but now I just cannot.
So the bottom line is, demo NFP results are worthless.
Good luck,
Liquid
  • #29
  • Last Post: Sep 16, 2018 8:36am Sep 16, 2018 8:36am
Trading NFP is for Suckas! Don't be a Sucka!
The only system that will work is one designed by and for yourself.
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