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Central Banks & Big Players

  • #12,981
  • Jul 13, 2014 10:21am Jul 13, 2014 10:21am
Quoting Electry
{quote} I'm going to save you sone time on this one. There are brokers who don't increase spreads like crazy during news. I have tested atleast 20 brokers with real money and they all have low spreads during news. The problem with low spread brokers are then slippage. There is no use to have 0 spread and 50 pip slippage (which I have had in worst case). Oanda has bigger spread but it doesn't slip (much). And to be hones oanda has the smallest spreads during NFP than any other broker (15 pips). Combine that with 0-6 pip slippage and you have a winner....
wow... thanks a lot ..

really saved us some $$ and especially time .
  • #12,982
  • Jul 14, 2014 10:47am Jul 14, 2014 10:47am
Draghi speaks...... who is in?....... heard it wouldnt make big moves though...
Know News/time; WAIT for Edge Entries, MPLC Normalization, Exits & TP's..
  • #12,983
  • Jul 14, 2014 11:05am Jul 14, 2014 11:05am
Quoting Tony112
PAGE 1 updated. I'm writing a book + videos are coming. We don't stop.
Great....Am curiously waiting ......
Know News/time; WAIT for Edge Entries, MPLC Normalization, Exits & TP's..
  • #12,984
  • Jul 14, 2014 12:08pm Jul 14, 2014 12:08pm
Your strategy rules are strange to say the least. Sometimes the slippage could be huuuge and your stop will be twice or three times larger. The targets are funny. 150 pips is the range for a few days for most currency pairs. If you want to gamble do it properly.
  • #12,985
  • Jul 14, 2014 9:28pm Jul 14, 2014 9:28pm
Quoting srmfx
Your strategy rules are strange to say the least. Sometimes the slippage could be huuuge and your stop will be twice or three times larger. The targets are funny. 150 pips is the range for a few days for most currency pairs. If you want to gamble do it properly.
What is not strange and very common is people losing cash. I agree with you that people who end up making money in here are strange. I guess you trade in a more normal way which is totally normal among the average trader.
Invest in alarm clocks
  • #12,986
  • Jul 14, 2014 9:56pm Jul 14, 2014 9:56pm
Quoting Tony112
PAGE 1 updated. I'm writing a book + videos are coming. We don't stop.
thanks bro, waiting for updates
  • #12,987
  • Edited Jul 15, 2014 12:43am Jul 14, 2014 11:41pm | Edited Jul 15, 2014 12:43am
Quoting Tony112
{quote} What is not strange and very common is people losing cash. I agree with you that people who end up making money in here are strange. I guess you trade in a more normal way which is totally normal among the average trader.
You speak like politician, not like trader. How you deal with the slippage and how often you see 150 pips price move recently? Simple questions.
  • #12,988
  • Jul 15, 2014 12:15am Jul 15, 2014 12:15am
Quoting srmfx
{quote} I speak like politician, not like trader. How you deal with the slippage and how often you see 150 pips price move recently? Simple questions.
If you find it strange why trade this system?

I would think simple maths should tell you how this thing works.
Enter Signature
  • #12,989
  • Jul 15, 2014 9:27am Jul 15, 2014 9:27am
Ok, just straddled Yellen's testimony, and made +8 pips in 10 seconds. At 3 minutes before his appearance, I used Oanda's FxTrade platform to place orders to buy and sell USD at 30 pips above and below the current price. Then 20 seconds before, I slid the two orders to 6 pips either side of the price. Almost immediately after Yellen came on, the price shot up and I cashed in. No slippage, no widening of spread, no whipsaw and instant execution.

I'm a newbe, but this was an experiment that worked perfectly. Next time there's a speech, if I get a result, I'll place a stop at BE and hang around to see what happens.

I know Tony and others advise against straddling announcements, but I'm wondering if anyone has found this a viable strategy just for speeches.
  • #12,990
  • Jul 15, 2014 9:32am Jul 15, 2014 9:32am
By the way, Tony: this is a wonderful thread. So just ignore the occasional negative comment. Your bank balance is the final arbiter of your strat's success.
  • #12,991
  • Jul 15, 2014 9:55am Jul 15, 2014 9:55am
Quoting fxfiend
Ok, just straddled Yellen's testimony, and made +8 pips in 10 seconds. At 3 minutes before his appearance, I used Oanda's FxTrade platform to place orders to buy and sell USD at 30 pips above and below the current price. Then 20 seconds before, I slid the two orders to 6 pips either side of the price. Almost immediately after Yellen came on, the price shot up and I cashed in. No slippage, no widening of spread, no whipsaw and instant execution. I'm a newbe, but this was an experiment that worked perfectly. Next time there's a speech, if I get a...
hmm..

so you place orders +30 pips and -30 pips from prices.? just asking hehehe.. will try with you someday, do keep me informed
  • #12,992
  • Edited 10:40am Jul 15, 2014 10:08am | Edited 10:40am
Quoting cheekiboi
{quote} If you find it strange why trade this system? I would think simple maths should tell you how this thing works.
The inevitability of mathematics. That's what makes the success. cheekiboi has the necessary "deeper" understanding of the system. Lol
Know News/time; WAIT for Edge Entries, MPLC Normalization, Exits & TP's..
  • #12,993
  • Jul 15, 2014 10:58am Jul 15, 2014 10:58am
Hi Nikki

I placed 30-pip orders a few minutes before the speech but didn't leave them there. I did this in order to have them in place to quickly slide closer to the price a few seconds before the person's appearance. This obviates frustrating fiddling with deal tickets when you have minimal time remaining before the event. I've only done it once, so we'll see.

In the meantime, is anyone else doing this regularly?

I'll also try straddling some announcements with very small trades, but Tony and the others here don't recommend doing this.

Also, this straddling may work with the tiny amounts of money I risked, but fail when you're trading for serious dough.

By the way, I originally straddled everything with IG Index and made good money -- until they noticed it and limited me. You might be able to do the same with IG until they catch you.
  • #12,994
  • Jul 15, 2014 5:04pm Jul 15, 2014 5:04pm
Today's gbp inflation report, cant closed it on top..
Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_11.jpg Size: 302 KB
  • #12,995
  • Jul 15, 2014 5:18pm Jul 15, 2014 5:18pm
Quoting fxfiend
Hi Nikki I placed 30-pip orders a few minutes before the speech but didn't leave them there. I did this in order to have them in place to quickly slide closer to the price a few seconds before the person's appearance. This obviates frustrating fiddling with deal tickets when you have minimal time remaining before the event. I've only done it once, so we'll see. In the meantime, is anyone else doing this regularly? I'll also try straddling some announcements with very small trades, but Tony and the others here don't recommend doing this. Also, this...
I tried this and the results were good until my broker caught me too. I have not tried it in a long time. Bottom line is brokers are aware of it and will go to extents to stop you.
  • #12,996
  • Jul 15, 2014 7:22pm Jul 15, 2014 7:22pm
Quoting Naokia980
Today's gbp inflation report, cant closed it on top.. {image}

nice trade N

what is your plans later at london session?
Attached Image
  • #12,997
  • Jul 16, 2014 3:24am Jul 16, 2014 3:24am
Quoting NickkiT
{quote} nice trade N what is your plans later at london session? {image}

placed your order? here we go ...news
  • #12,998
  • Jul 16, 2014 3:52am Jul 16, 2014 3:52am
Bought GU, SL hit...
Battle between 2 news

Attached Image (click to enlarge)
Click to Enlarge Name: Picture 4.png Size: 13 KB


and the winner is Av Earnings Index...
B777
  • #12,999
  • Jul 16, 2014 3:53am Jul 16, 2014 3:53am
Quoting NickkiT
{quote} placed your order? here we go ...news
Gbp news is full of whipsaw, main reason is : they discuss the numbers on cb before public announcement.
My buy order stopped out before news at 1:29:45 due 10 pip spread and movement,dont re-enter, big fish eats little fish:
http://www.maniacworld.com/big_fish.htm
  • #13,000
  • Jul 20, 2014 3:19pm Jul 20, 2014 3:19pm
I don't really pay attention to news, except of trying to be not in the market when they are coming. But I'm not sure if this 150 TP is a good idea right now with the low volatility. First I though that the picture in the first post is older but it's new. Have we really got 150 Pip moves in the past weeks?
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