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Central Banks & Big Players

  • #12,681
  • May 22, 2014 2:33am May 22, 2014 2:33am
It's all good, waiting for German IFO. I'm trading with no feelings now.
Invest in alarm clocks
  • #12,682
  • May 22, 2014 2:36am May 22, 2014 2:36am
whipsawed +3 on german news

well I guess its still green pips
Enter Signature
  • #12,683
  • May 22, 2014 2:37am May 22, 2014 2:37am
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
Hi Tony, I am also with O...., bought with a spread of 1,1 pips, sl 8 pips. Slippage 6 pips!
  • #12,684
  • May 22, 2014 2:37am May 22, 2014 2:37am
Quoting nitecop
{quote} 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?

It's fine to readjust your SL accordingly... make sure you have enough SL to cover half of the spread at least before news.

E.g. if the max spread during peak is -12 pips you must have a SL >6 pips... at least 10 pips

If you see you're in profit before the news comes out you can lighten your SL a bit.. not too much... it takes a lot of practice.
Invest in alarm clocks
  • #12,685
  • May 22, 2014 2:39am May 22, 2014 2:39am
Quoting Tony112
It's all good, waiting for German IFO. I'm trading with no feelings now.
That's great Tony that you're not trading without feelings, its the best thing we can do.
After seeing you posting about such news not being the biggest around though, wouldn't it make more sense to be patient to surf the big waves?

Maybe something like this would be better?
Attached Image (click to enlarge)
Click to Enlarge Name: laird-hamilton-biggest-wave-surfing-teahupoo-tahiti-surf-photo.jpg Size: 100 KB


I'm just saying maybe less is more and having that patience to wait for the news that has the most impact such as NFP, AUD unemployment and GBP claimant count change that the odds of success would be a lot better?
  • #12,686
  • May 22, 2014 2:51am May 22, 2014 2:51am
Out with 13p. I would be interested to know what everyones' entry price was at 2m till. Mine was 1.3667...
TULKAS
  • #12,687
  • May 22, 2014 2:58am May 22, 2014 2:58am
Quoting Tony112
It's all good, waiting for German IFO. I'm trading with no feelings now.

Thanks for your guidance Tony, I'm sure i will master this oanda system with time, it was after all my first live trade with them.

I also feel the same way about the next trade! see you tmr until then I'm gonna study your posts and technique more. night all!
  • #12,688
  • May 22, 2014 8:54am May 22, 2014 8:54am
Quoting SaiLyfee
{quote} That's great Tony that you're not trading without feelings, its the best thing we can do. After seeing you posting about such news not being the biggest around though, wouldn't it make more sense to be patient to surf the big waves? Maybe something like this would be better? {image} I'm just saying maybe less is more and having that patience to wait for the news that has the most impact such as NFP, AUD unemployment and GBP claimant count change that the odds of success would be a lot better?
Guess what I'm preparing for page 1... I think you're giving big hints here
Invest in alarm clocks
  • #12,689
  • May 22, 2014 9:10am May 22, 2014 9:10am
CADJPY +13 pips

traded CAD Retail Sales

Bring on German IFO!
Enter Signature
  • #12,690
  • May 23, 2014 2:44am May 23, 2014 2:44am
Epic fail for me yesterday, am I glad that I used my new Demo Account with OANDA and can laugh about it now.

I tried the latest AmazingEA Version 4.3.0 (good work Alan111s) that has a lot of nice settings on the French Flash News. It obviously gets caught out in the major news whipsaws as Tony already warned for. I guess between the Version 1.1.7 and the trade methods of Boris a decade ago a lot has happened and the more people trading the news the bigger the spread, slippage and whipsaws. So straddle trade will only work on less prominent news I guess and with very tweaked settings but minus slippage and spread will only return somewhere between 5-25 PIPS if lucky.

Of course I left the AmazingEA on the chart of the EURUSD on my other computer.... I can tell you if you are pumped with adrenaline for German Flash (yeah I know sounds weird) you put the trade on 2 minutes before the news and the SL-TP lines suddenly jump all over the place...yeah you guessed it WT.. is happening here. LOL

Retry in 15 minutes !
ALL COOL LUCK
  • #12,691
  • May 23, 2014 2:55am May 23, 2014 2:55am
Last trade of the week. Let's hope it's a good one!
Invest in alarm clocks
  • #12,692
  • May 23, 2014 3:02am May 23, 2014 3:02am
quit half way before my stop triggered, kinda foresaw negative reaction... i guess that's experience? lol
  • #12,693
  • May 23, 2014 3:04am May 23, 2014 3:04am
OK, minor loss again.... it's all part of the game... red on the roulette for a 3rd time... very common thing. There are weeks like that! Waiting for the big fish...
Invest in alarm clocks
  • #12,694
  • May 23, 2014 3:05am May 23, 2014 3:05am
Houston...we got a problem
  • #12,695
  • May 23, 2014 3:11am May 23, 2014 3:11am
Closed at -12 so I'm basically flat for the week. It is basically a numbers game, like you said, Tony. I have been researching other "red" news on other pairs and there is definitely potential. Not ready to share anything yet and won't do so without Tonys' permission. Afterall, it's his thread...

Have a good weekend, all.
TULKAS
  • #12,696
  • May 23, 2014 3:41am May 23, 2014 3:41am
We are right by buying now. We are definitely heading up (well you never really know but odds are with us). Just look at yesterdays flash results, there was no continuation and all the sells were absorbed. Banks are just loading the ammo for big push up and taking up all the short orders from these news. Once a positive news comes up it'll explode!
  • #12,697
  • May 23, 2014 3:42am May 23, 2014 3:42am
Guess the last 4 didn't have the impact. I hope the next high impact news will roll in our favor. If you read Thomas Piketty his book we all have to become very good in being Robin Hood...

Have a great weekend ALL
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: GER_IFO-24APR2014.JPG Size: 82 KB
Click to Enlarge Name: GER_IFO-25MAR2014.JPG Size: 91 KB
Click to Enlarge Name: GER_IFO-24FEB2014.JPG Size: 70 KB
  • #12,698
  • May 23, 2014 5:21am May 23, 2014 5:21am
French and German flesh was to soon for me, I was sleeping. But 2 other news I tested with a straddle and both got winner. No EA just manually buy+sell order and set SL+TP, no pending. As soon as possible SL to BE this would be some pips below/over the SL of the other trade. If I would have not hedged I had bet on long what both would have been looser. (Oh that was difficult grammar for me as German)
Scan all 28 Forex pairs with ONE chart... Currency Strength28 Indicators
  • #12,699
  • May 23, 2014 6:59am May 23, 2014 6:59am
Quoting Electry
{quote} 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.
Would you be as kind to share your EA?
  • #12,700
  • May 23, 2014 7:32am May 23, 2014 7:32am
Quoting SaiLyfee
{quote} Would you be as kind to share your EA?
I coded my EA to fit to my needs exactly so there is too much explaining if I share it here. Besides this has more settings than mine: http://www.forexfactory.com/showthread.php?t=6854

It's basicly the same as mine but more settings. I have studied the code and can confirm that it is well coded and well optimized.
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