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  • #12,661
  • May 21, 2014 10:26pm May 21, 2014 10:26pm
Quoting Forex Loser
hello guys dont forget the CNY HSBC Flash Manufacturing PMI !!
+12pips only for me
  • #12,662
  • May 21, 2014 11:52pm May 21, 2014 11:52pm
Boy did I get lucky on the CNY news...GBY/AUD...Set a SL of 6 pips on a short.. Pair started moving down before news came out and even with the crazy increased spread I was able to take 40 pips. Funniest part was that I have a programmed script for quick execution and it was set for a 25 pip TP but it slipped through it.
This is an example of positive slippage. The pip gods were on my side!!!LOL
  • #12,663
  • May 22, 2014 12:11am May 22, 2014 12:11am
Quoting HannesJoub
I think what bothers most a lot of followers of this thread (well, okay, it bothers me...) is that whilst we always buy, we are not always sure which pair to buy... Case in point: Non farm payrolls are due out, do we buy EU, or do we buy UJ (I have seen this on this thread) ? And therein lies the rub. This method still requires some "thinking" and knowledge of sorts. Taking a long on both is also doable, but you are then left with either a guaranteed loss in one direction, + slippage, or two losses due to whipsaw, + slippage... And that uncertainty...
Hey HJ, what's shakin? Hope all is well...I personally use to great benefit a currency strength histogram in which you can compare weak and strong currencies prior to taking a trade. There are a number of them here at FF...Sometimes all currencies will move during a high impact news event but its generally best trade the news related currency against the weakest currency...Of course other factors should be considered such as support and resistance, ADR and such.

The one pictured is from Hanover and has several customizable features.. I have it set to show the currency strength over a 5 bar period..As you can see at the time of the picture the NZD and AUD were strong and JPY and CHF were weak.

Here is the thread if you are so inclined.

http://www.forexfactory.com/printthr...&pp=15&page=27

All the best my friend!!
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  • #12,664
  • May 22, 2014 12:46am May 22, 2014 12:46am
Quoting SaiLyfee;7484431I
thought o***a prevented hedging / taking positions on the same pair going against each other?
Yes hedging isn't allowed (buying and selling at the same time) but straddling means only one direction, buy or sell will be triggered (buystop/sellstop), not both.
  • #12,665
  • May 22, 2014 1:14am May 22, 2014 1:14am
45 minutes left for French Flash
Invest in alarm clocks
  • #12,666
  • May 22, 2014 1:17am May 22, 2014 1:17am
Quoting Electry
{quote} Yes hedging isn't allowed (buying and selling at the same time) but straddling means only one direction, buy or sell will be triggered (buystop/sellstop), not both.
So to clarify, as I am not sure I understand, are you saying before news that you would set a buy stop and a sell stop above and below the current price and wait for it to trigger either one of those orders?
  • #12,667
  • May 22, 2014 1:24am May 22, 2014 1:24am
Quoting SaiLyfee
{quote} So to clarify, as I am not sure I understand, are you saying before news that you would set a buy stop and a sell stop above and below the current price and wait for it to trigger either one of those orders?
Yes, that is correct. I have my own EA which places the orders and adjusts them to the second the news is released and when one is triggered it cancels the other.
  • #12,668
  • May 22, 2014 1:28am May 22, 2014 1:28am
Btw if todays news come positive it's gonna be a long way up! We are just heading out from a daily demand zone. I'm going to wait and see what French does but I'm definitely gonna buy German. It could be that French spikes down so banks get filled before heading up with German.
  • #12,669
  • May 22, 2014 1:33am May 22, 2014 1:33am
Quoting Wigglesworth
{quote} Hey HJ, what's shakin? Hope all is well...I personally use to great benefit a currency strength histogram in which you can compare weak and strong currencies prior to taking a trade. There are a number of them here at FF...Sometimes all currencies will move during a high impact news event but its generally best trade the news related currency against the weakest currency...Of course other factors should be considered such as support and resistance, ADR and such. The one pictured is from Hanover and has several customizable features.. I have...
Thanks Wiggie.

So, are you saying that you look at the news event, then look at the currency strength chart (on the lower timeframes) and trade Long / Short according to those currencies that are strong / weak against each other. (i.e. taking an educated gamble, instead of just a gamble?)

Cheers

H
  • #12,670
  • May 22, 2014 1:45am May 22, 2014 1:45am
Quoting Tony112
45 minutes left for French Flash

I'm nervous, going back in after a long time!
  • #12,671
  • May 22, 2014 1:50am May 22, 2014 1:50am
Quoting nitecop
{quote} I'm nervous, going back in after a long time!

Don't worry just do what you have to do. French flash is for newbie surfers, it's a small wave don't worry!
Invest in alarm clocks
  • #12,672
  • May 22, 2014 1:57am May 22, 2014 1:57am
Quoting Tony112
{quote} Don't worry just do what you have to do. French flash is for newbie surfers, it's a small wave don't worry!

Thank you! btw now that i'm using oanda's system I'm now getting what you use to tell me about the whole 98% leverage thing.. since now i see how many units i can can actually trade with 1:50 leverage setting in the canadian division.
  • #12,673
  • May 22, 2014 2:01am May 22, 2014 2:01am
-8 no problem. Waiting for German Flash
Invest in alarm clocks
  • #12,674
  • Edited 2:18am May 22, 2014 2:02am | Edited 2:18am
Quoting Tony112
{quote} Don't worry just do what you have to do. French flash is for newbie surfers, it's a small wave don't worry!
Hey Tony,will you record today's trades?
  • #12,675
  • May 22, 2014 2:04am May 22, 2014 2:04am
Quoting Tony112
-8 no problem. Waiting for German Flash

had the same trade.. wiht -8 stop loss, why did i close at -13?
  • #12,676
  • May 22, 2014 2:09am May 22, 2014 2:09am
Had 5 pip slippage but no problem. German I'm going to buy also, lets shoot to the stars!
  • #12,677
  • May 22, 2014 2:15am May 22, 2014 2:15am
Quoting nitecop
{quote} had the same trade.. wiht -8 stop loss, why did i close at -13?

It's possible with the spread.... did you set it at -8 when you originally entered?

How oanda calculates your total loss tolerance: your original spread e.g: 1.4 + stop-loss e.g 8.0 = 9.4 pips lost.... if you lost more than that it's probably because you entered with a bigger spread.... slippage should be very very light



-13 is still good, as you can observe, this trade drew an instant 20 pips candle so you're on top of the ball no matter if you lose or win
Invest in alarm clocks
  • #12,678
  • May 22, 2014 2:18am May 22, 2014 2:18am
Quoting Naokia980
{quote} Hey Tony. will you record today's trades?

Delaying filming a bit, because of the car being customized... everything has to be perfect. I have so many things on my list you won't believe it
Invest in alarm clocks
  • #12,679
  • May 22, 2014 2:22am May 22, 2014 2:22am
Quoting Tony112
{quote} Delaying filming a bit, because of the car being customized... everything has to be perfect. I have so many things on my list you won't believe it
Okay, but try to do post 1 yeah? Lol

Really appreciate what it is you do Tony, looking forward to seeing the filming, I'm sure it will be big
  • #12,680
  • May 22, 2014 2:23am May 22, 2014 2:23am
Quoting Tony112
{quote} It's possible with the spread.... did you set it at -8 when you originally entered? How oanda calculates your total loss tolerance: your original spread e.g: 1.4 + stop-loss e.g 8.0 = 9.4 pips lost.... if you lost more than that it's probably because you entered with a bigger spread.... slippage should be very very light -13 is still good, as you can observe, this trade drew an instant 20 pips candle so you're on top of the ball no matter if you lose or win

ah okay will keep an eye on that spread, i entered the stop loss on the order before i placed the order, was playing with the stop loss drag feature and then adjusted it again to 8 pip 12 secs before news.. .. i guess i shoudn't do the last part?
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