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Central Banks & Big Players

  • #11,941
  • Apr 9, 2014 10:37pm Apr 9, 2014 10:37pm
Quoting Tony112
{quote} man you're right the GBP USD seems bullish as isht
So lets see Tony 3,000 pips x $2.5k per pip= a nice Bentley Continental GT convertible to start!
  • #11,942
  • Apr 9, 2014 10:49pm Apr 9, 2014 10:49pm
Tony, wow...
Congrats, I can only dream of having so much success on FX one day. You are an inspiration
Would you mind telling me what trading platform you are using? Thanks you.
  • #11,943
  • Apr 9, 2014 11:02pm Apr 9, 2014 11:02pm
Quoting SaiLyfee
Tony, wow... Congrats, I can only dream of having so much success on FX one day. You are an inspiration Would you mind telling me what trading platform you are using? Thanks you.
oanda
Invest in alarm clocks
  • #11,944
  • Apr 9, 2014 11:06pm Apr 9, 2014 11:06pm
Quoting Wigglesworth
{quote} So lets see Tony 3,000 pips x $2.5k per pip= a nice Bentley Continental GT convertible to start!

I want to buy this concept car very soon.
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Invest in alarm clocks
  • #11,945
  • Apr 9, 2014 11:08pm Apr 9, 2014 11:08pm
Quoting Tony112
{quote} oanda
Ah yes, I see you are with them for your broker but which trading software are you using? That's not MT4 I see..
  • #11,946
  • Apr 9, 2014 11:18pm Apr 9, 2014 11:18pm
Quoting Tony112
{quote} I want to buy this concept car very soon. {image}
hahha Those Escorts were sure popular in their day!! Here is what I have my eye on!!
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  • #11,947
  • Apr 9, 2014 11:35pm Apr 9, 2014 11:35pm
Quoting SaiLyfee
{quote} Ah yes, I see you are with them for your broker but which trading software are you using? That's not MT4 I see..
Hi Sailyfee it is FXTrade Desktop Platform
  • #11,948
  • Apr 10, 2014 12:32am Apr 10, 2014 12:32am
Quoting jeetvirk
{quote} Hi Sailyfee it is FXTrade Desktop Platform
Thanks buddy, it looks good
  • #11,949
  • Apr 10, 2014 5:49am Apr 10, 2014 5:49am
Well well well, will we see GU take off like a rocket tonight I wonder ..
  • #11,950
  • Apr 10, 2014 6:11am Apr 10, 2014 6:11am
No we will not .. lol.
  • #11,951
  • Apr 10, 2014 7:45am Apr 10, 2014 7:45am
way to go Tony
I think you need this
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and then this
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  • #11,952
  • Apr 10, 2014 8:34am Apr 10, 2014 8:34am
Quoting jonnypants
way to go Tony I think you need this {image} and then this {image}
Lol... Hahah nice way to start my morning. What´s not funny is the audusd retrace while i was sleeping
Invest in alarm clocks
  • #11,953
  • Apr 10, 2014 10:22am Apr 10, 2014 10:22am
Which criteria do yoy use to select between aud/usd, eur/aud..?
  • #11,954
  • Apr 10, 2014 10:58am Apr 10, 2014 10:58am
Quoting Tony112
{quote} Lol... Hahah nice way to start my morning. What´s not funny is the audusd retrace while i was sleeping
True enough dropped +/- 60 pips during London session...Looks like its slowly crawling up again..
  • #11,955
  • Apr 10, 2014 11:01am Apr 10, 2014 11:01am
Quoting jonander50
Which criteria do yoy use to select between aud/usd, eur/aud..?
1. Trend
2. Currency strength
3. Support and Resistence
4. News Drivers
  • #11,956
  • Apr 10, 2014 12:54pm Apr 10, 2014 12:54pm
Quoting Tony112
{quote} Lol... Hahah nice way to start my morning. What´s not funny is the audusd retrace while i was sleeping
I believe Greed hit you bro..
Hope its well now..
Sometimes when you see huge profits, always take it, and than trade after a week..
Classical chart patterns of currencies from 15+ Year Pro Trader
  • #11,957
  • Apr 10, 2014 3:14pm Apr 10, 2014 3:14pm
I have a question,
So is a straddle news trade when you place a news trade 2 mins before with for example:
An 18 pip stop buy as well as an 18 pip stop sell at the same time.
This way when the news comes out, if it goes down you hit your buy stop but make profit on the down move
And alternatively, this way when the news comes out, if it goes up you hit your sell stop but make profit on the up move.
This way is doesn't matter which way the news goes so long if it is a decent move that doesn't whipsaw shit loads. On this basis, aren't you pretty much guaranteed profit more than you would ever lose? Is this the holy grail? ..
Please let me know if I have figured it all out lol.
  • #11,958
  • Apr 10, 2014 4:18pm Apr 10, 2014 4:18pm
Sailyfee

As nice as that sounds, that strategy is not scalable, it can work for some news and not work for a lot ,because of slippage during news hour.
If you set a pending for x price 2 mins before news , when it is news time the broker can fill you in at 40pips + x , that means you are already down by 40pips. you will be lucky if the news move further but in big trouble if it start going down. 40 pips is just an example it can be more or less and that is something outside your control. That is why Tony place a market order 2 minutes before the news and not a pending order. I used to trade the pending order before until i got slipped 45 pips twice which was 3x my anticipated stop loss.
if you want to have no direction bias and hedge your self you can do something like this e.g for AUD news buy Audusd and buy EurAUd , One will hit SL and the other might deliver a good return (when the news moved very well).
Pending will only work if you can get a broker that will provide a slippage control, maximum number of slippage set to a fixed number i.e 10pips
  • #11,959
  • Apr 10, 2014 5:19pm Apr 10, 2014 5:19pm
Quoting iddy
Sailyfee As nice as that sounds, that strategy is not scalable, it can work for some news and not work for a lot ,because of slippage during news hour. If you set a pending for x price 2 mins before news , when it is news time the broker can fill you in at 40pips + x , that means you are already down by 40pips. you will be lucky if the news move further but in big trouble if it start going down. 40 pips is just an example it can be more or less and that is something outside your control. That is why Tony place a market order 2 minutes before the...
I am unexperienced with news trading so I am not sure why you say it would not be possible to put a buy and a sell order on at the same time? I wasn't talking about placing a pending order 2 mins before, but rather a marker order like Tony
What is slippage exactly? If I set my SL for an 18 pip stop it should stay at a 18 pip stop shouldn't it?..
  • #11,960
  • Apr 10, 2014 5:44pm Apr 10, 2014 5:44pm
Slippage: You place (or close) an order at a certain price. Your broker fills your order at a worse price (the price "slips") and blames it on fast moving market conditions. Some brokers do this and only hit you for a few pips. Others will burn you for 20, 30, or even more.
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