News trading the simple way
I recently got into news trading as the volatility is so low at the moment. I saw some strategies here on FF and they all seem to be tough and unpractical. Why should you news trade? Well for that question is a simple awnser it is fast and movement is big. Plus if we are going to look to brokers they all try to make sure you are not possible to trade news. Like freezing up the platform or widening spreads insane. So there should be easy money right?
Before you read any futher I want to thank Udine for posting the 00-strategy because we use some bits of his rules. You should understand Udines strategy before reading futher. His thread: http://www.forexfactory.com/showthread.php?t=487923.
Rules
I marked red what we DON'T use:
1. D1 & 1H candle color MUST be both red or both green
2. Entry ONLY the FIRST 00 level
3. Frankfurt open only .400/.500/.600 levels
4. London open all levels
5. No short @ .100 level
6. No long @ .900 level
7. No trading 1 hour before RED NEWS on the pair
8. No trading less than 30 minutes after RED NEWS in the pair
9. After 4 losses stop trading for the day
10. Higher probability at market opens (new money into the market
11. Check ADR
12. Distance to RN > 10 pips (see 3 & 4)
13. Stop trading after reaching daily target
14. Stop Loss 10 pips
15. Take profit 5 pips
16. Trailstop 3.5 pips & Stoploss to BE @ 3.5 pips I don’t use the EA’s
17. Only pending orders
18. Trade higher ADR pairs only
19. My pairs EJ and GJ I trade almost all pairs
20. only 1 trade per hour per pair
21. a mistake is 10 burpees
Only trade RED news.
How I do it
So we see upcomming RED news so how do we do it?
1. Open 2 orders up and down 10 minutes before the news.
2. The SL of both orders are where the price is to the nearest grid level.
3. TP is just 5 pips as stated above.
4. News comes in price spike either way and we are done.
I use a broker that freezes the platform when the news strikes and the spreads stay almost the same, this is how I came to this strategy.
I recently got into news trading as the volatility is so low at the moment. I saw some strategies here on FF and they all seem to be tough and unpractical. Why should you news trade? Well for that question is a simple awnser it is fast and movement is big. Plus if we are going to look to brokers they all try to make sure you are not possible to trade news. Like freezing up the platform or widening spreads insane. So there should be easy money right?
Before you read any futher I want to thank Udine for posting the 00-strategy because we use some bits of his rules. You should understand Udines strategy before reading futher. His thread: http://www.forexfactory.com/showthread.php?t=487923.
Rules
I marked red what we DON'T use:
1. D1 & 1H candle color MUST be both red or both green
2. Entry ONLY the FIRST 00 level
3. Frankfurt open only .400/.500/.600 levels
4. London open all levels
5. No short @ .100 level
6. No long @ .900 level
7. No trading 1 hour before RED NEWS on the pair
8. No trading less than 30 minutes after RED NEWS in the pair
9. After 4 losses stop trading for the day
10. Higher probability at market opens (new money into the market
11. Check ADR
12. Distance to RN > 10 pips (see 3 & 4)
13. Stop trading after reaching daily target
14. Stop Loss 10 pips
15. Take profit 5 pips
16. Trailstop 3.5 pips & Stoploss to BE @ 3.5 pips I don’t use the EA’s
17. Only pending orders
18. Trade higher ADR pairs only
19. My pairs EJ and GJ I trade almost all pairs
20. only 1 trade per hour per pair
21. a mistake is 10 burpees
Only trade RED news.
How I do it
So we see upcomming RED news so how do we do it?
1. Open 2 orders up and down 10 minutes before the news.
2. The SL of both orders are where the price is to the nearest grid level.
3. TP is just 5 pips as stated above.
4. News comes in price spike either way and we are done.
I use a broker that freezes the platform when the news strikes and the spreads stay almost the same, this is how I came to this strategy.
well explained - thankx , do you have a winning % yet
