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  • #9,881
  • Edited 5:19pm Feb 12, 2014 2:55pm | Edited 5:19pm
"Can anyone please confirm with me at what time do you place your stop loss entries? is it at the time of the order or literally just a few seconds before news announcement? also I'd like to know where do you find streams of live news and speeches, thanks!"

Place the order and the stoploss at the same time 2 minutes before the news.
  • #9,882
  • Feb 12, 2014 4:27pm Feb 12, 2014 4:27pm
Quoting nitecop
Can anyone please confirm with me at what time do you place your stop loss entries? is it at the time of the order or literally just a few seconds before news announcement? also I'd like to know where do you find streams of live news and speeches, thanks!
The order: 2 mins before news
The SL: anytime you want but has to be 18 pips of distance at the time of the news

Drag to 0 after news, if you can!
Invest in alarm clocks
  • #9,883
  • Feb 12, 2014 5:01pm Feb 12, 2014 5:01pm
Quoting Tony112
This evening (for me) it's the AUD employment situation. LOL I might have to celebrate if it burst up. It will be a huge trade for me and if it works the reward is going to be huge. Must be careful for no re-entries if it fails.
Im not trading this because of the past results,

Dont base ur trade off of me but Im just giving my reason for why im not trading it.

This is the last 6 months results all wouldnt work. But hey maybe its this month that it takes off. Never can predict the forex market

Good luck if your trading it!! Wouldnt advise max lots, if its a winner dont hate me
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  • #9,884
  • Feb 12, 2014 5:04pm Feb 12, 2014 5:04pm
Hey Tony, How YOU doin?

I think the news has the highest potential for insane R/R. Anyway, I don't use the 18 pip SL but this is a much more user friendly approach. I also use 5 min. charts instead of 5 sec. The only reason I say all of this is because it is exactly the same concept. I also get into the trade early but sometimes it can be up to 30 minutes early. But, again I am using the same exact concept as you are. Either way, the Risk vs. Reward ratio is just about the best it can get when trading high impact news.

Good probability to all!

Joe
  • #9,885
  • Feb 12, 2014 5:09pm Feb 12, 2014 5:09pm
Quoting dvanderlinde
{quote} Im not trading this because of the past results, Dont base ur trade off of me but Im just giving my reason for why im not trading it. This is the last 6 months results all wouldnt work. But hey maybe its this month that it takes off. Never can predict the forex market Good luck if your trading it!! Wouldnt advise max lots, if its a winner dont hate me {image} {image} {image} {image} {image} {image}
Hey Bro,
I am assuming those charts are 5 sec. correct? Anyway, these whipsaws wouldn't have presented a problem for my system.
  • #9,886
  • Feb 12, 2014 5:11pm Feb 12, 2014 5:11pm
Quoting dvanderlinde
{quote} Im not trading this because of the past results, Dont base ur trade off of me but Im just giving my reason for why im not trading it. This is the last 6 months results all wouldnt work. But hey maybe its this month that it takes off. Never can predict the forex market Good luck if your trading it!! Wouldnt advise max lots, if its a winner dont hate me

Are you not trading this because of whipsaws? or just the probability of going up?
  • #9,887
  • Feb 12, 2014 5:23pm Feb 12, 2014 5:23pm
Quoting Tony112
{quote} The order: 2 mins before news The SL: anytime you want but has to be 18 pips of distance at the time of the news Drag to 0 after news, if you can!
Merci monsieur!
  • #9,888
  • Feb 12, 2014 5:39pm Feb 12, 2014 5:39pm
Quoting Tony112
{quote} Lol. Close pc. Sweet dreams
Lol woke up to 25 pip profit. Guess it didn't hit my 2pip SL
  • #9,889
  • Feb 12, 2014 5:50pm Feb 12, 2014 5:50pm
Quoting Lukaszmiami
Dear Sirs, Just banked 110 pips, not much $ but...another winner in a row. Today i bought nice suit and shirt, going to test it this weekend. Im not going to act like Tony aka. party animal, quiet poker session wil do the job I cant imagine how much $$ these 110 pips would be with bigger acc...100k or even 50k...
nice man, enjoy it, u earned it!
  • #9,890
  • Feb 12, 2014 5:57pm Feb 12, 2014 5:57pm
Quoting Fx3422271
Hey Tony, How YOU doin? I think the news has the highest potential for insane R/R. Anyway, I don't use the 18 pip SL but this is a much more user friendly approach. I also use 5 min. charts instead of 5 sec. The only reason I say all of this is because it is exactly the same concept. I also get into the trade early but sometimes it can be up to 30 minutes early. But, again I am using the same exact concept as you are. Either way, the Risk vs. Reward ratio is just about the best it can get when trading high impact news. Good probability to all! Joe...
smart, that's 1 way to survive the GBP news that came with Mr Whipsaw yesterday!
  • #9,891
  • Feb 12, 2014 6:03pm Feb 12, 2014 6:03pm
Quoting lesoleil
"Can anyone please confirm with me at what time do you place your stop loss entries? is it at the time of the order or literally just a few seconds before news announcement? also I'd like to know where do you find streams of live news and speeches, thanks!" Place the order and the stoploss at the same time 2 minutes before the news.
I send my standard 20 pip stop loss and 100 pip target orders automatically with my entry. I do this as a safety net in case I lose the connection with my brokers. I then adjust them to where I want them depending on what strategy, risk and TF I'm trading. It's easy to adjust once they are in.

I have lost my connection before on a large position size scalp right when I sent my SL after I already pulled the trigger a minute earlier and being confident that it actually went through I didn't bother to call my broker to confirm it.... My internet went down for a day because some idiot lost control of their car and hit the substation that feeds me my precious internet at the same time I was sending my stop loss order. That my friends was a $2700.00 mistake and the biggest trading loss I've ever had. Trust me when I say this... If you ain't comfortable losing $2700, it'll make you puke.



I do trade daily and weekly charts without stops, but my position size is small enough that a trade can go 300 to 500 pips against me and be only 1% risked.
I don't care which way the market is going as long as it's going my way
  • #9,892
  • Feb 12, 2014 6:07pm Feb 12, 2014 6:07pm
Anyone shorting today's AUD news
  • #9,893
  • Feb 12, 2014 6:14pm Feb 12, 2014 6:14pm
Quoting Mightyfine
Anyone shorting today's AUD news
me
  • #9,894
  • Feb 12, 2014 6:21pm Feb 12, 2014 6:21pm
wow good story there pipkiller, on that note what kinda risk does everyone here take per trade according to this method?
  • #9,895
  • Feb 12, 2014 6:22pm Feb 12, 2014 6:22pm
Tighten your SEEEAAT BELTS!!!!!!
Invest in alarm clocks
  • #9,896
  • Feb 12, 2014 6:24pm Feb 12, 2014 6:24pm
Quoting Tony112
Tighten your SEEEAAT BELTS!!!!!!
full attack on down under... kill!
  • #9,897
  • Feb 12, 2014 6:31pm Feb 12, 2014 6:31pm
boooooooom!! Whoop there it is
  • #9,898
  • Feb 12, 2014 6:35pm Feb 12, 2014 6:35pm
Quoting Mightyfine
boooooooom!! Whoop there it is
that bear army, fierce!

...and that spread, up to as much as 6 pips at one time...
  • #9,899
  • Feb 12, 2014 6:39pm Feb 12, 2014 6:39pm
Quoting Tuffy
{quote} that bear army, fierce! ...and that spread, up to as much as 6 pips at one time...
Yeah spread was insane!
  • #9,900
  • Feb 12, 2014 6:40pm Feb 12, 2014 6:40pm
2 short entries at the moment on 2 different pairs. 180+ pips and trailing....
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