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How do you trade news?

  • #301
  • Jul 28, 2006 2:03am Jul 28, 2006 2:03am
This definitely is a loss to many of us. There is no word to express how much I appreciate your generosity of sharing your trading experience. Your strategies are great assets for me to fine-tune my personal trading style. I am so sorry about what happened to you with a good intention to help. There is a saying “Good hearts sometimes struck by thunder”

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MM, you should be proud of what you had accomplished; your information is significant in currency trading. Email me if there is anything I can help. Once again, thank you!!!
  • #302
  • Jul 28, 2006 2:22am Jul 28, 2006 2:22am
Quoting MoneyMa$ter
Thanks for the comments everyone: My friend (Trend, I want that 16 large back ); Gtrader444 (pardon me if I don't use your real name) and your group, mi hermano Carlos, those who PM'd me their comments, thanks those who emailed me and thanks to those who shared similar thoughts. Also Trinity thanks for input. (Sounds like Oscar night .... I digress).

Trinity's right. Believe it. Two minutes before, Cable long was 20-25 pips above market, while the short entry was at least 10 - 15 pips. So it would make sense that EUR/USD paralleled cable.

Summitfx, impetuous be not. (I don't really talk like that; just sometimes has a poetic ring, like Yoda......). The thread is valuable as a marketplace of ideas and information. Just realize detailed explanations of successful newstrading strategies, once posted, enter what's legally known as the "public domain" and once published, can land anywhere. So rather than end the thread, you just "tweak" the system/process and make it work. "Ya gotta be fit to get outta here alive!", as Darwin would say.

And remember trading news is so different from "trading" because of the potentially instant and dramatic financial results to be had trading news. So as fl_trading pointed out, that can be a significant hit on the broker - somebody's gotta pay, right?

Thanks again, everyone, and all the best.
unfortunatly this is what i expected. Brokers are not here to give out money if the 95% of loosers become the 95% of winners
  • #303
  • Jul 28, 2006 4:56am Jul 28, 2006 4:56am
Quoting forexplayer
I cannot believe that ... 53 PIPS SPREAD ????? WTF??? But dont they advertise as fixed spread???
I think you failed to read their 'fast market policy' on their website.

It's like fixed...except it's not fixed.

It pays to read a broker's conditions fully before committing funds. Don't believe fancy ads and marketing hype, go for the small print and the ugliest of exceptions because that is what you're really setting yourself up for.
  • #304
  • Jul 28, 2006 5:20am Jul 28, 2006 5:20am
maybe sounds strange to all of you , but if everybody is going to profit from forex, and the 95% loosers become the 95% winners...you can immagine that the forex machine will not stand and things will change....

no way for that , forex is a lottery, not everybody can win..the state (the brokers) have to bank money and is willing to give to few..otherwise which is the interest for them ?

for this reason, when a system becomes of common use, that system just will start to dont work anymore..

very simple and normal...
  • #305
  • Edited 9:59am Jul 28, 2006 6:05am | Edited 9:59am
Quoting trucco
maybe sounds strange to all of you , but if everybody is going to profit from forex, and the 95% loosers become the 95% winners...you can immagine that the forex machine will not stand and things will change....

no way for that , forex is a lottery, not everybody can win..the state (the brokers) have to bank money and is willing to give to few..otherwise which is the interest for them ?

for this reason, when a system becomes of common use, that system just will start to dont work anymore..

very simple and normal...
Smartest reply in this whole thread. I have a feeling that soon people in this thread will realise why news trading is considered noobie trading.
  • #306
  • Jul 28, 2006 10:23am Jul 28, 2006 10:23am
Quoting MoneyMa$ter
Great attitude Carlos,

Always a learning opportunity, see success. Always.

Now here's the heads up.

At the one minute mark, prior to release of the US announcements, I wasn't able to create the straddle today with FXSol. For the first time, FXSol's spreads spread, no.... widened, no....they galaxied (and if that wasn't a word, it is now!!).

It was my intent to create an entry 10 points away from market, because price action dictated such. When I tried creating the stop market entry, the order form required me to enter a price at least 20 pips away from the market price at 8:28ish 8:29ish am. Startled, this caused me to do a double-take, as that was the last thing I expected.

Oh but it gets better! Later in the day, someone (who shall remain nameless for I am not a snitch) cc'd me, by my email address (not in the blind), on an email sent to FXSol, confirming a telephone call the email's author had earlier regarding FXSol's policy for last minute entries just prior to news releases. [that was a mouthful]. For those that don't know, the official policy sets premiums (wider spreads) for such late entries.

In other words, someone tried the strategies I'd set forth in this forum, couldn't execute, called FXSol about it, then sent a confirming email (identifying me in the cc) about it, for "clarification".

Oh but it gets better than that!!! The same person inquiring of FXSol, asked me "how did you get around their policy?", based on my prior trades. And for the record, I never "got around their policy"; has somewhat of a nefarious tone, like evading tax liabilities as opposed to avoiding tax liabilities. Avoidance is fine; evasion is punishable by imprisonment.

So let me be the first to announce from this learning opportunity:

I see success, always.

Although I will continue to comment on various posts, I will no longer share my strategies on this or any other forum. Nor will I provide valuable insight through private emails or any other mode of electronic or written media. Today's events render it quite clear that either:

(1) broker agents monitor these forums in order to plug loopholes or
(2) traders among us contact brokers naively asking questions that raise the radar within the brokers' compound.

Regardless, I take full responsibility, for had I written nothing, then neither of those two possibilites would have existed. It was my intention to help.

Hopefully some of you learned something from the posts herein and I pray it will help you succeed where before you failed.

I'll close with this.... do not, I repeat do not issue a post explaining how you succeeded today using the strategies we discussed in this forum. And by the way, I did manage to profit 20 pips, nonetheless!! That's because I'm the Money Ma$ter!!!!

I cannot believe some idiot ruin everything for us to learn and to share...
  • #307
  • Jul 28, 2006 10:39am Jul 28, 2006 10:39am
Quoting sovo1970
I cannot believe some idiot ruin everything for us to learn and to share...
sovo1970, the person which placed moneymaster in cc wasnt for sure very mucch thinking in the moment and this wasnt a nice action for sure...
Moneymaster is for sure not responsible for anything.

But the fact that you are not going to earn is not because of this...
Is because of the fact i explained before...

Brokers won't never let the majority of people be winners...

so for me, Moneymaster should have been a bit more preservative with his strategy.


No easy money in this world..
  • #308
  • Jul 28, 2006 10:46am Jul 28, 2006 10:46am
Quoting jessieblue
I have a feeling that soon people in this thread will realise why news trading is considered noobie trading.
So jessie,

Let me ask a question:That's why so much money is made and that's why the volume is so high during and following news announcements, because it's "noobie trading"?? Right. Duh....

When asked why they robbed banks, Frank and Jessie James simply replied, "because that's where the money is."

Tons of experienced traders who actually make money jessieblue, trade news, particularly after the announcement establishes a trend of sorts. All we're talking about now is adjusting to the new environment and continuing ("Ya gotta be fit to get out of here alive", in other words evolve dude).

Wisdom now will preclude revealing specific adjustments.
  • #309
  • Edited 11:11am Jul 28, 2006 10:55am | Edited 11:11am
Quoting MoneyMa$ter
So jessie,


When asked why they robbed banks, Frank and Jessie James simply replied, "because that's where the money is."

.
If Frank and Jessie would have talked on an internet forum with everybody the way you do, telling people how they do it they wouldn't have made a penny robbing banks. I bet if you were in their gang they would have kicked you out because of your big mouth. LOL.
  • #310
  • Jul 28, 2006 11:23am Jul 28, 2006 11:23am
Quoting jessieblue
If Frank and Jessie would have talked on an internet forum with everybody the way you do, telling people how they do it they wouldn't have made a penny robbing banks. I bet if you were in their gang they would have kicked you away for your big mouth. LOL.
It's called free speech.

Broke jessie? I'm sorry but if you ever make any money you'd be too selfish to share the "how to" with others. In case you've not noticed, it's your ideology of "selfishness" that's being confronted world-wide by the "have nots". And you wonder why the "poorer" people of the world are rising up around the world in such extreme violence.

Go ahead, dude (or dudette) keep it all to yourself. Guess what.... there's certainly a whole lot more of them than there are of you and just as certainly, there's not enough "security" to contain the sheer volume.

Mark my "big mouth" words: One day you will pay.
  • #311
  • Jul 28, 2006 11:34am Jul 28, 2006 11:34am
I just wanted to say to Jesseblue that the whole meaning of this forum is to share information, so it is a shame that MoneyMa$ter won't write about his strategies again. There is no need for being rude if you don't like trading the news, especially if there are people like MoneyMa$ter making money from it.

Anyway, I would like to discuss brokers once again, sharing each others experiences with slippage in real live trading the news situations. The idea is for us to keep a record of the best brokers to use for this type of strategy. I will make an statistics table that I'm willing to share with you later on. What I would need is: broker, data release traded, and slippage. (is there another item you think will be useful for this table?)

For example, I traded today the GDP data release with C M S Forex and had a 30 pips requote. (anyway I managed to earn 20 pips, just for your information).

I hope this can help us all.

Pablo.
Pablo
  • #312
  • Jul 28, 2006 11:46am Jul 28, 2006 11:46am
Quoting ptejerina
I will make an statistics table that I'm willing to share with you later on. What I would need is: broker, data release traded, and slippage. (is there another item you think will be useful for this table?)

I hope this can help us all.

Pablo.
Good idea Pablo, and congrats on today's trade.

Specific date may be helpful in your table, although it's implied in the news release name (e.g., July NFP). I'd also recommend showing the complete move in total number of pips as well as the retracement pips up to a maximum of 15 or maybe 30 minutes following the announcement.

This encourage intelligent decisions by traders when selecting a broker. For example, if a broker shows slippage on a specific announcement of 30 pips but the total move was 70 pips, plus 30 pips in the retracement, then there's more info in considering the risk-reward of choosing that particular broker.
  • #313
  • Jul 28, 2006 11:46am Jul 28, 2006 11:46am
If you think for a second that some broker is going over this thread and telling his cohorts about the infamous breakout news strategy, you're kidding yourselves.

Breakout strategies are so common it's crazy. Brokers could care less. Do you know why? Because there's plenty of losers in the market.

...and that's what the dealers are betting on... and they're right 95% of the time.
Mr. Trend
  • #314
  • Jul 28, 2006 11:59am Jul 28, 2006 11:59am
Quoting MoneyMa$ter
It's called free speech.

Broke jessie? I'm sorry but if you ever make any money you'd be too selfish to share the "how to" with others. In case you've not noticed, it's your ideology of "selfishness" that's being confronted world-wide by the "have nots". And you wonder why the "poorer" people of the world are rising up around the world in such extreme violence.

Go ahead, dude (or dudette) keep it all to yourself. Guess what.... there's certainly a whole lot more of them than there are of you and just as certainly, there's not enough "security" to contain the sheer volume.

Mark my "big mouth" words: One day you will pay.
Listen man, I don't know what all that means, but let me tell you something. I live in eastern Europe and you live in the US. Don't lecture me about have and have nots. I have only about 1000$ in a forex account and if I lose that I'll have to emigrate in a western country and work a S***it job that nobody there wants although I have a degree in economics and I'm a smart guy. My whole family is scattered all over europe because there isn't good work here. Now I already lost 300$ in a single trade during a release after I read your "Just information; not a recommendation" because I was slipped a huge amount and that's with a reputable brooker. I don't mean to argue with you about rich and poor, just keep it to forex. In fact, I'm not arguing anything further with you. Nice talking to you, have a great life.
  • #315
  • Jul 28, 2006 12:02pm Jul 28, 2006 12:02pm
To some extent you are correct, brokers couldn't care less how people trade. However, I've used my own version of this news trading strategy for over a year and I've seen a VERY direct correlation between the number of people using this system and the spreads on various brokers during news releases. For example, when the 'Amazing Forex System' came out, the spreads all went up by about 5 pips as well. So, the brokers do adjust their spreads due to how much money they lose during big news events. If only a few people use a strategy that takes money from the brokers, they don't care...if a LOT of people start taking money from them, they are going to take some form of action to prevent it.
  • #316
  • Jul 28, 2006 12:09pm Jul 28, 2006 12:09pm
Quoting Mykae
To some extent you are correct, brokers couldn't care less how people trade. However, I've used my own version of this news trading strategy for over a year and I've seen a VERY direct correlation between the number of people using this system and the spreads on various brokers. For example, when the 'Amazing Forex System' came out, the spreads all went up by about 5 pips as well. So, the brokers do adjust their spreads due to how much money they lose during big news events. If only a few people use a strategy that takes money from the brokers, they don't care...if a LOT of people start taking money from them, they are going to take some form of action to prevent it.
It's started already. Brookers don't care about free speech, they care about making money.
  • #317
  • Jul 28, 2006 12:12pm Jul 28, 2006 12:12pm
Quoting ptejerina
I just wanted to say to Jesseblue that the whole meaning of this forum is to share information, so it is a shame that MoneyMa$ter won't write about his strategies again. There is no need for being rude if you don't like trading the news, especially if there are people like MoneyMa$ter making money from it.

Anyway, I would like to discuss brokers once again, sharing each others experiences with slippage in real live trading the news situations. The idea is for us to keep a record of the best brokers to use for this type of strategy. I will make an statistics table that I'm willing to share with you later on. What I would need is: broker, data release traded, and slippage. (is there another item you think will be useful for this table?)

For example, I traded today the GDP data release with C M S Forex and had a 30 pips requote. (anyway I managed to earn 20 pips, just for your information).

I hope this can help us all.

Pablo.

ptejerina, I think Jesseblue is saying something else.

Nobody needs to be attacked here, not Moneymaster, not Jesseblue.

The point is easy. This forum is to share, to help. But to share tools, not easy way to make money.

Everybody has to find his ownsystem, otherwise nobody will ever again earn a penny...
WE CAN'T USE ALL THE SAME WAY OF TRADING...

So now lets go ahead...

2 days ago I also got requotes...but what is the point now to tell you which is my broker or to know which broker is good in news ??

I garantee you that if somebody tells which broker is good in news, this broker will be bad in news in 2 weeks...like happened just with FXS..

So please guys, nobody is there to give us money for free.

Is good to help eachother , but with the tools...not with the system itself...otherwise nobody helps anybody and we will all pay, soon or later..
  • #318
  • Jul 28, 2006 12:15pm Jul 28, 2006 12:15pm
Quoting jessieblue
It's started already. Brookers don't care about free speech, they care about making money.
I agree with you man.

my broker never did requotes since im with him...
he did 2 days ago...
  • #319
  • Jul 28, 2006 12:17pm Jul 28, 2006 12:17pm
[quote=trucco]


I garantee you that if somebody tells which broker is good in news, this broker will be bad in news in 2 weeks...like happened just with FXS..

So please guys, nobody is there to give us money for free.

QUOTE]


BINGO, it would be great if sharing information like that actually worked, but the second everyone knows about it, it's gauranteed not to work anymore.
  • #320
  • Jul 28, 2006 12:20pm Jul 28, 2006 12:20pm
Quoting trucco
ptejerina, I think Jesseblue is saying something else.

Nobody needs to be attacked here, not Moneymaster, not Jesseblue.

The point is easy. This forum is to share, to help. But to share tools, not easy way to make money.

Everybody has to find his ownsystem, otherwise nobody will ever again earn a penny...
WE CAN'T USE ALL THE SAME WAY OF TRADING...

So now lets go ahead...

2 days ago I also got requotes...but what is the point now to tell you which is my broker or to know which broker is good in news ??

I garantee you that if somebody tells which broker is good in news, this broker will be bad in news in 2 weeks...like happened just with FXS..

So please guys, nobody is there to give us money for free.

Is good to help eachother , but with the tools...not with the system itself...otherwise nobody helps anybody and we will all pay, soon or later..
Exactly. I wish this post was at the start of the thread, and I wish I hadn't been caught in Moneymaster's hype. He has money to loose obviously and he can afford to treat forex like going to Vegas. Oh yea, I have a great way to beat the casinos, let's all change explicit strategies on how to do it, go in all 1000 of us at the same time. Oh my god, I've been betrayed by mail, how can this be, we are only a few thousand people trying to beat the casino, why did they take action, they have millions, why should they care about us, doesn't make any sense... 95% of people in this thread are noobies, the rest of the 5% are just now posting. I bet here are a few seniors who laughed at this thread from the start. Prepare to see threads about brooker hating erupting again soon from the noobs. I'm going back to my slow but steady strategy.
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