DislikedDoes anyone know why you would use only 6 of the majors instead of all 7?Ignored
Hi Scoobi 
News announcement 12.30AM for me but enjoyed getting up to play . Few teething issues but can see good possibilities - just follow your rules.
Issues were -
My pending sells were set for 0.10 instead of 0.20. My cock-up -hurried a bit too quick thinking 7 mins before announcement may not be enough time but it is plenty of time to set this up.
The USxxx shorts did not trigger - found that FXCM don't allow hedging. To fix the problem I had to close the original buys on these pairs ( automatic loss of course) then sell at market as price banged my original 30pip placements. At this point I cancelled the the Pending sells on the xxxUS pairs which were now in the right & profitable direction. I will use my other provider to test this in the future - at least hedging is permitted by them.
Being new & exciting and also needing to get back to sleep
I let the strategy run until market close just to observe motion of the pairs and look at correlation. At one point where I was in front of the screen very early on, there was a positive growth of 30 - 40 pips and looking at the candle wicks for that time period I am guessing that this figure may have been higher. If you could snag +50 regularly this will be a winner IMHO.
My final result at Market close is Negative 50 pips but if you were actively watching progress you would never let that happen.
Just for interest I have noted the maximum pips at the spike times and this shows the following -
EU + 50 GU + 36 AU + 53
CHF +15 JPY +38 CAD + 16
Does this tell me that USDxxx not as adversely affected as the Euro , Pound & Aussie ??
Looking forward to trying this on other News events as well .
Well done Scoobi
Pictures attached show my set up with couple of minutes to go and then what the charts were like at market close .
Any comments or suggestions most welcome.
News announcement 12.30AM for me but enjoyed getting up to play . Few teething issues but can see good possibilities - just follow your rules.
Issues were -
My pending sells were set for 0.10 instead of 0.20. My cock-up -hurried a bit too quick thinking 7 mins before announcement may not be enough time but it is plenty of time to set this up.
The USxxx shorts did not trigger - found that FXCM don't allow hedging. To fix the problem I had to close the original buys on these pairs ( automatic loss of course) then sell at market as price banged my original 30pip placements. At this point I cancelled the the Pending sells on the xxxUS pairs which were now in the right & profitable direction. I will use my other provider to test this in the future - at least hedging is permitted by them.
Being new & exciting and also needing to get back to sleep
I let the strategy run until market close just to observe motion of the pairs and look at correlation. At one point where I was in front of the screen very early on, there was a positive growth of 30 - 40 pips and looking at the candle wicks for that time period I am guessing that this figure may have been higher. If you could snag +50 regularly this will be a winner IMHO.My final result at Market close is Negative 50 pips but if you were actively watching progress you would never let that happen.
Just for interest I have noted the maximum pips at the spike times and this shows the following -
EU + 50 GU + 36 AU + 53
CHF +15 JPY +38 CAD + 16
Does this tell me that USDxxx not as adversely affected as the Euro , Pound & Aussie ??
Looking forward to trying this on other News events as well .
Well done Scoobi
Pictures attached show my set up with couple of minutes to go and then what the charts were like at market close .
Any comments or suggestions most welcome.
Scoobi - have found the attached extract from Investopedia . In your experience what would be the major movers we should test out.??
Forex Factory gives you all these and you can set filters for different colour flags (Red, Amber ..etc) I have found it to be very accurate and timed precisely. If you already know this just ignore my comments.. good luck...... "Scoobi for president"
- #75
- Edited 4:19pm Aug 2, 2014 3:57pm | Edited 4:19pm
{quote} Hi Binnie, Forex Factory gives you all these and you can set filters for different colour flags (Red, Amber ..etc) I have found it to be very accurate and timed precisely. If you already know this just ignore my comments.. good luck...... "Scoobi for president"
Yep I use the FF News Calendar - wouldn't leave home without it....
. Just there is so much news these days , I got little idea which ones cause enough ripple in the market to play this strategy. Time will tell eh..BTW - you sure you and Scoobi don't know each other??? ( Scoobi Do !!!!
)Have a good weekend.
edit - or should that read SCOOBIDOOBIE DOO !!!!
Also - does anyone have an idea on how this strategy could ever be back-tested? I have been thinking about it all day but because of the market action being around 6 pairs concurrently , i don't think a replay is possible ??? OR IS THERE ????
Aussie Retail Sales News Progress.
Not much happening really. Initial moves soon drifted. Once direction established I closed the 2 losing Longs on the xxxAUD's and cancelled the pending sells on the AUDxxx's.
Drifting still - will leabve it going till London Open to see if extra volumes make a difference.
Otherwise - will go again tomorrow on Trade Balance figures.
1st chart just shows set up. ( Note Longs at 0.2 / shorts at 0.40 )
2nd chart shows progress after 90mins.
Any ideas on the pairs - I don't have any other xxxAUD's on my platform??
Not much happening really. Initial moves soon drifted. Once direction established I closed the 2 losing Longs on the xxxAUD's and cancelled the pending sells on the AUDxxx's.
Drifting still - will leabve it going till London Open to see if extra volumes make a difference.
Otherwise - will go again tomorrow on Trade Balance figures.
1st chart just shows set up. ( Note Longs at 0.2 / shorts at 0.40 )
2nd chart shows progress after 90mins.
Any ideas on the pairs - I don't have any other xxxAUD's on my platform??
{quote} cheers DOBE, Yep I use the FF News Calendar - wouldn't leave home without it....
this site might help alittle, not sure, but possibly worth a look