Central Banks & Big Players | Page 517 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

How do you know all the positions held by big players? 25 replies

ECN && STP && Scalping && Hedging - Broker Review - Oct 2009 24 replies

Central Banks and Big Players: Slight change in code reqd 7 replies

Japanese housewives are wrecking the forecasts of big players! 25 replies

Big players and Forex 4 replies

Attachments: Central Banks & Big Players
Exit Attachments

Central Banks & Big Players

  • #10,321
  • Feb 26, 2014 5:01am Feb 26, 2014 5:01am
Quoting PipKiller
{quote} To not trade is also a trading decision. Emotion is the hardest thing to control. If you have green bull candles and red bear candles on your charts, you can change them to something else and take the phycology and emotion of color out of the picture. Look at the charts Fx3422271 posted. Grey neutral yawn and orange caution let me think about it first instead of Green - GO BUY BUY BUY!!! and Red - STOP SELL SELL SELL!!! I don't know if Fx3422271 did it that way to help control emotion, made it his favorite school/team colors or...
"If you have green bull candles and red bear candles on your charts, you can change them to something else and take the phycology and emotion of color out of the picture"

again... that is the SMART MONEY.... talking
  • #10,322
  • Feb 26, 2014 5:35am Feb 26, 2014 5:35am
Quoting Moonie
{quote} Ill be trading the UK GDP figure tomorrow H. 09:27 I'll be placing a long on the GU (+6 pips) and a short on the EU (-6 pips). 10 pip stop, 40 pip TP.
GU Whipsawed, so 10 pips lost, EU 8 pips up so far.
  • #10,323
  • Feb 26, 2014 6:28am Feb 26, 2014 6:28am
Quoting Moonie
{quote} GU Whipsawed, so 10 pips lost, EU 8 pips up so far.
Got out of EU with +25 pips.

  • #10,324
  • Feb 26, 2014 7:23am Feb 26, 2014 7:23am
Quoting Moonie
{quote} Got out of EU with +25 pips.
Moonie... GBP loves to whipsaw.... don't like
  • #10,325
  • Feb 26, 2014 7:29am Feb 26, 2014 7:29am
Fuckgbp frontrunners, dealers cleared books with 2 side wicks of candle..Something is wrong with retailers..
  • #10,326
  • Feb 26, 2014 7:39am Feb 26, 2014 7:39am
Quoting Moonie
{quote} Got out of EU with +25 pips.
Would GBP news have an effect on EURUSD??

That's just wrong...

H
  • #10,327
  • Feb 26, 2014 7:44am Feb 26, 2014 7:44am
And GBP comes back to my entry point, so, I closed out to early, in a loss.

Aw man...this feels terrible.

H

  • #10,328
  • Feb 26, 2014 7:50am Feb 26, 2014 7:50am
Quoting HannesJoub
{quote} Would GBP news have an effect on EURUSD?? That's just wrong... H
That's just the rules H. Just like I always trade EU and UJ when there is US news (like at 15:00 GMT)
  • #10,329
  • Feb 26, 2014 8:14am Feb 26, 2014 8:14am
Quoting Moonie
{quote} That's just the rules H. Just like I always trade EU and UJ when there is US news (like at 15:00 GMT)
Hey Moonie...hang on a bit, did I misunderstand the original rules??? Are we to always buy EU, no matter what news comes out, and you with your changes to the strategy, are then trading opposite direction on the pair that has USD and the currency affected by the news as well?

??

Thanks

H
  • #10,330
  • Feb 26, 2014 8:48am Feb 26, 2014 8:48am
Quoting HannesJoub
{quote} Hey Moonie...hang on a bit, did I misunderstand the original rules??? Are we to always buy EU, no matter what news comes out, and you with your changes to the strategy, are then trading opposite direction on the pair that has USD and the currency affected by the news as well? ?? Thanks H
H, Tony's method is to always go long USD. I like to trade both sides, so buy EU (negative US news, hoping Euro will rise) but also buy UJ (positive US news, hoping dollar will rise).

Hope that makes sense.
  • #10,331
  • Feb 26, 2014 9:17am Feb 26, 2014 9:17am
Hi Moonie, thanks for the reply.

The way I understood it from the first page flyer thingy is to make a Market BUY order 2 mins prior to news coming out. Which, if we were to always go long USD, would mean that we should be shorting EURUSD or do I have it the wrong way round? When using your method this distinction doesn't really matter as you are covering both directions....but when we are trading according to Tony's single direction method it makes a huge difference.

So, which one is it?

I gather we always buy no matter what, (original method) but which pairs??? If it is USD news then we buy UJ, if it is EUR news, we buy EU, if it is GBP news, we buy GU?

Help, anyone?

H
  • #10,332
  • Feb 26, 2014 11:39am Feb 26, 2014 11:39am
Yabba-dabba-doo, 40 pips on UJ

  • #10,333
  • Feb 26, 2014 12:48pm Feb 26, 2014 12:48pm
Okay, I have scanned through the thread (post 8490 etc), and I find the following (remember, this is the original strategy / method):

1) Always buy / go long, 2 minutes before news is released, with SL in place (SL's recommended on 1st page)
2) That long is placed on the currency that is effected by the news, with the counterpart always being USD
3) Therefore, EUR news would be Long / buy EURUSD; GBP news would be Long / Buy GBPUSD; USD news would be long / buy USDJPY; AUD news would be long / buy AUDUSD; one possible exception? JPY news, sell /short USDJPY

If I understand correctly, this is to ensure discipline (always go long) Proper R:R (low SL, high TP) and to enter before spread is widened. Then the rest is a waiting game of getting trades that go in your direction to eat up any losses that may have been made.

Is this the whole of the strategy? Am I missing something?

Tony, PipKiller, please advise. No offence meant Moonie, but I am getting conflicting signals here...

Cheers

H

PS, Reading the thread was a hoot, Tony, you are a riot...
  • #10,334
  • Edited 6:08pm Feb 26, 2014 1:30pm | Edited 6:08pm
Quoting HannesJoub
Okay, I have scanned through the thread (post 8490 etc), and I find the following (remember, this is the original strategy / method): 1) Always buy / go long, 2 minutes before news is released, with SL in place (SL's recommended on 1st page) 2) That long is placed on the currency that is effected by the news, with the counterpart always being USD 3) Therefore, EUR news would be Long / buy EURUSD; GBP news would be Long / Buy GBPUSD; USD news would be long / buy USDJPY; AUD news would be long / buy AUDUSD; one possible exception? JPY news, sell /short...
Another reason it is good to always go long is that many brokers put the entire spread on the "ask" side of the trade. Therefore, your stop will not get hit by the widening spread.
  • #10,335
  • Feb 26, 2014 1:54pm Feb 26, 2014 1:54pm
Quoting HannesJoub
Okay, I have scanned through the thread (post 8490 etc), and I find the following (remember, this is the original strategy / method): 1) Always buy / go long, 2 minutes before news is released, with SL in place (SL's recommended on 1st page) 2) That long is placed on the currency that is effected by the news, with the counterpart always being USD 3) Therefore, EUR news would be Long / buy EURUSD; GBP news would be Long / Buy GBPUSD; USD news would be long / buy USDJPY; AUD news would be long / buy AUDUSD; one possible exception? JPY news, sell /short...
No offence taken H. We're all here to learn and a bit of clarification never goes amiss.
  • #10,336
  • Feb 26, 2014 2:23pm Feb 26, 2014 2:23pm
Quoting HannesJoub
Okay, I have scanned through the thread (post 8490 etc), and I find the following (remember, this is the original strategy / method): 1) Always buy / go long, 2 minutes before news is released, with SL in place (SL's recommended on 1st page) 2) That long is placed on the currency that is effected by the news, with the counterpart always being USD 3) Therefore, EUR news would be Long / buy EURUSD; GBP news would be Long / Buy GBPUSD; USD news would be long / buy USDJPY; AUD news would be long / buy AUDUSD; one possible exception? JPY news, sell /short...
Long on any pair that will be affected by news 2 mins before

Move SL to BE when you can

Keep it simple no need to complicate

Only high impact news looking for a good RR

Easy as that
  • #10,337
  • Feb 26, 2014 2:23pm Feb 26, 2014 2:23pm
Quoting Fx3422271
{quote} Another reason it is good to always go long is that many brokers put the entire spread on the buy side of the trade. Therefore, your stop will not get hit by the widening spread.
Which brokers put the widened spread on the buy side only? I've only ever seen symmetrical or symmetrical with a small amount of shading, never asymmetrical spread widening.
  • #10,338
  • Edited 6:08pm Feb 26, 2014 3:31pm | Edited 6:08pm
Quoting FXEZ
{quote} Which brokers put the widened spread on the buy side only? I've only ever seen symmetrical or symmetrical with a small amount of shading, never asymmetrical spread widening.
Just about every broker I have seen puts all the spread on the "ask" side when using MT4 platform. I have yet to use MT4 with any broker where this is not the case. Moreover, whenever I am going long my stop loss never gets hit by the widening spread. Every time that my stop has been hit on a long position it has truly been hit.
  • #10,339
  • Feb 26, 2014 4:11pm Feb 26, 2014 4:11pm
Ill be trading the UK GDP figure tomorrow H. 09:27 I'll be placing a long on the GU (+6 pips) and a short on the EU (-6 pips). 10 pip stop, 40 pip TP.

Quoting Moonie
{quote} GU Whipsawed, so 10 pips lost, EU 8 pips up so far.

Hey, just wondering how that worked out : If you went short on EU for the news (UK GDP) your trade (-6 Pips on price before the news) would have opened about 45 mins after the news release, is that right? Do you keep your orders open a while after the news ?

Thanks
  • #10,340
  • Feb 26, 2014 6:04pm Feb 26, 2014 6:04pm
Quoting FXEZ
{quote} Which brokers put the widened spread on the buy side only? I've only ever seen symmetrical or symmetrical with a small amount of shading, never asymmetrical spread widening.
Case in point. It's like this at all times and with all pairs.
Attached Image (click to enlarge)
Click to Enlarge Name: fxcm metatrader 4.png Size: 100 KB
5 traders viewing now