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  • #12,201
  • Apr 29, 2014 5:31am Apr 29, 2014 5:31am
Can anyone please tell me the logic behind.Why we should only BUY in this method and not sell ?
  • #12,202
  • Apr 29, 2014 5:36am Apr 29, 2014 5:36am
Quoting mindgame
Can anyone please tell me the logic behind.Why we should only BUY in this method and not sell ?
that is also puzzling me
  • #12,203
  • Apr 29, 2014 6:41am Apr 29, 2014 6:41am
Quoting mindgame
Can anyone please tell me the logic behind.Why we should only BUY in this method and not sell ?
The idea is that if price reactions off news reports are really a 50/50 proposition, by consistently betting on one side of the equation, you are guaranteed to win 50% of the time.

If you switch from long to short at various times based on your current analysis it is feasible that you can do worse than 50%. So Tony (in his wisdom) has figured that he will at least do as well as a coin toss by always betting on the same side of the news. Though sometimes even Tony takes a flier on the shorts!
  • #12,204
  • Apr 29, 2014 6:49am Apr 29, 2014 6:49am
What FXEZ has posted is correct, and I also note that when you win, you win MUCH more that what you lose as long as you are managing your stops properly.
  • #12,205
  • Apr 29, 2014 7:23am Apr 29, 2014 7:23am
Quoting Ivanyo
What FXEZ has posted is correct, and I also note that when you win, you win MUCH more that what you lose as long as you are managing your stops properly.
Thanks for adding this VERY important point Ivanyo!
  • #12,206
  • Apr 29, 2014 7:32am Apr 29, 2014 7:32am
Quoting FXEZ
{quote} The idea is that if price reactions off news reports are really a 50/50 proposition, by consistently betting on one side of the equation, you are guaranteed to win 50% of the time. If you switch from long to short at various times based on your current analysis it is feasible that you can do worse than 50%. So Tony (in his wisdom) has figured that he will at least do as well as a coin toss by always betting on the same side of the news. Though sometimes even Tony takes a flier on the shorts!
So that being said, we could opt to always go short instead of long without any disadvantage to those who go long right?
  • #12,207
  • Edited 9:18am Apr 29, 2014 7:59am | Edited 9:18am
Quoting SaiLyfee
{quote} So that being said, we could opt to always go short instead of long without any disadvantage to those who go long right?

I believe this is not the same. Put in the ask line and watch what it do in news. The broker open the spread by the ask-price not by the buy-price. So a buy doesnt get hurt but a short would get SL possibly.
Scan all 28 Forex pairs with ONE chart... Currency Strength28 Indicators
  • #12,208
  • Apr 29, 2014 3:13pm Apr 29, 2014 3:13pm
Quoting Bernhard
{quote} I believe this is not the same. Put in the ask line and watch what it do in news. The broker open the spread by the ask-price not by the buy-price. So a buy doesnt get hurt but a short would get SL possibly.
I disagree on this one. I have seen oanda winden spreads on the bid side many times when the price is still on other brokers.

Here is an example:
Attached Image (click to enlarge)
Click to Enlarge Name: spread.png Size: 494 KB
  • #12,209
  • Apr 29, 2014 3:41pm Apr 29, 2014 3:41pm
wth 20 pips spread :O , on AU .... T_ T
  • #12,210
  • Edited 6:16pm Apr 29, 2014 5:56pm | Edited 6:16pm
http://www.bloomberg.com/news/2014-0...ur-action.html
http://www.bloomberg.com/video/what-...V2h5Ae23g.html
Attached Image (click to enlarge)
Click to Enlarge Name: euro.png Size: 53 KB

Big news for EU tonight..I saw Tony didn't highlight this event though.
Is anybody else trading it? Trying to figure out if I should go in with a 7 or 15 pip SL. What do you guys think?
  • #12,211
  • Apr 29, 2014 7:15pm Apr 29, 2014 7:15pm
Quoting Electry
{quote} I disagree on this one. I have seen oanda winden spreads on the bid side many times when the price is still on other brokers. Here is an example: {image}
Hi Electry,

Thanks for sharing. Are you happy with Pepperstone for straddling ??
I am currently testing Thinkforex and Axitrader with same settings. For the moment, Axitrader is providing lower spread, but I am considering checking another broker like pepperstone.
  • #12,212
  • Apr 29, 2014 11:14pm Apr 29, 2014 11:14pm
Quoting FXEZ
{quote} The idea is that if price reactions off news reports are really a 50/50 proposition, by consistently betting on one side of the equation, you are guaranteed to win 50% of the time. If you switch from long to short at various times based on your current analysis it is feasible that you can do worse than 50%. So Tony (in his wisdom) has figured that he will at least do as well as a coin toss by always betting on the same side of the news. Though sometimes even Tony takes a flier on the shorts!

Good way of thinking buddy.Im sure the thread would'nt have created anything without a valid reason.Just wanted to know the logic behind it.Thanks for clarifying that out to lot of people here.
  • #12,213
  • Apr 30, 2014 1:46am Apr 30, 2014 1:46am
Quoting totowah
{quote} Hi Electry, Thanks for sharing. Are you happy with Pepperstone for straddling ?? I am currently testing Thinkforex and Axitrader with same settings. For the moment, Axitrader is providing lower spread, but I am considering checking another broker like pepperstone.
Nah pepperstone is impossible to trade news with. I always record my trades so this is a screenshot from and old video (where I had my stop slipped for 50 pips )

At the moment I got bored with slippage so all my money is now at oanda. In the past I would have recomended Admiral Markets but their platform froze for 8 minutes during big GBP news and I couldn't close my order which was in the wrong direction. (It said "order is locked"). I contacted support and got no answer = withdraw all. Their spread is low and ok slippage but absolutely worst custommer service...
  • #12,214
  • Apr 30, 2014 3:13am Apr 30, 2014 3:13am
so what and how we trade the news today
Attached Image (click to enlarge)
Click to Enlarge Name: 66.jpg Size: 44 KB
Scan all 28 Forex pairs with ONE chart... Currency Strength28 Indicators
  • #12,215
  • Apr 30, 2014 4:03am Apr 30, 2014 4:03am
WHIP.
Out for 7...
Attached Image (click to enlarge)
Click to Enlarge Name: slss.png Size: 27 KB
  • #12,216
  • Apr 30, 2014 4:16am Apr 30, 2014 4:16am
Interesting....I'm with Pepperstone.

Let's see how it goes in a couple of hours - hope slippage isn't terrible, otherwise a change of brokers may be in order.
  • #12,217
  • Apr 30, 2014 4:41am Apr 30, 2014 4:41am
Quoting Electry
{quote} Nah pepperstone is impossible to trade news with. I always record my trades so this is a screenshot from and old video (where I had my stop slipped for 50 pips ) At the moment I got bored with slippage so all my money is now at oanda. In the past I would have recomended Admiral Markets but their platform froze for 8 minutes during big GBP news and I couldn't close my order which was in the wrong direction. (It said "order is locked"). I contacted support and got no answer = withdraw all. Their spread is low and ok slippage but absolutely...
Thanks for the advice. Wanna consider Oanda then.

I also record everything now . I had no slippage | low spread with both Thinkforex & Axitrader today during "CPI Flash Estimate" ..
Happy
  • #12,218
  • Apr 30, 2014 5:32am Apr 30, 2014 5:32am
Quoting totowah
{quote} Thanks for the advice. Wanna consider Oanda then. I also record everything now . I had no slippage | low spread with both Thinkforex & Axitrader today during "CPI Flash Estimate" .. Happy
No problem mate. I don't know if you are using real money or not but remember that demo accounts don't have slippage
  • #12,219
  • Apr 30, 2014 5:48am Apr 30, 2014 5:48am
Quoting Electry
{quote} No problem mate. I don't know if you are using real money or not but remember that demo accounts don't have slippage
Live of course.
I also straddle the news with Amazing EA, so I am very sensitive to spread/slippage.
  • #12,220
  • Apr 30, 2014 6:13am Apr 30, 2014 6:13am
Get ready for advance GDP on USD
Invest in alarm clocks
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