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How do you trade news?

  • #341
  • Jul 28, 2006 1:34pm Jul 28, 2006 1:34pm
Quoting jessieblue
Hey, there are a lot of people making a living by F***ing good looking women on camera. I'm sure we could all do it if we put our collective minds together. I wonder if there are more people who wish they were porn stars than people who wish to make quick easy money in forex. To both kinds, I wish good luck.
You think that who ever want to trade news it's running for quick and easy money. If you did so, that doesn't mean everybody is doing that. No trading can give you easy and fast money.
If you have traded news hopping for fast cash... your lost, I bet you lost. It's as hard as any kind of trades, needs lot of traning, testing, preparation.
Try hard, think fast, die young
  • #342
  • Jul 28, 2006 1:37pm Jul 28, 2006 1:37pm
Quoting jessieblue
Hey, there are a lot of people making a living by F***ing good looking women on camera. I'm sure we could all do it if we put our collective minds together. I wonder if there are more people who wish they were porn stars than people who wish to make quick easy money in forex. To both kinds, I wish good luck.

Some people enjoy doing that, some do that just for the money. We don't have to do it all. If you want to do it... do it, I don't have anything againts. Even in that line of work there are some that are doing well and thare are some bad actors. If you want to talk about that subject go to a porn forum.

There are lots of jobs that are paid well. It doesn't have to be the same thing for everybody.
Try hard, think fast, die young
  • #343
  • Jul 28, 2006 1:47pm Jul 28, 2006 1:47pm
Quoting dof
Some people enjoy doing that, some do that just for the money. We don't have to do it all. If you want to do it... do it, I don't have anything againts. Even in that line of work there are some that are doing well and thare are some bad actors. If you want to talk about that subject go to a porn forum.

There are lots of jobs that are paid well. It doesn't have to be the same thing for everybody.
I don't want to talk about porn, I was making an analogy. If everybody in the world could be porn stars, nobody would be watching porn. If everybody in the world gets in at the same time in the same way in a trade, nobody wins.
Look, the whole thing seems a bit silly to me. It's like we all play poker against eachother and at the same time we get on a forum and teach eachother how we bluff and what we do when we have a certain hand. If we want to teach eachother poker that's fine, but from there on everybody should put in the work to develop their own strategy. News trading is like teaching people to cheat. It can work, but when it doesn't, it gets very ugly. Casinos, porn film makers, brookers, all want to make money and they will not be cheated for long, if at all.
  • #344
  • Jul 28, 2006 2:31pm Jul 28, 2006 2:31pm
Jessie, why are you so upset?

I find your comment regarding re-reading Mark Douglas' Trading in the Zone, and the fact that you blew 30% of your account VERY VERY (did I mention, VERY?) IRONIC.

Most people who are new to the business, do this exact thing -- they go to a thread, they take someone's strategy, and then WITHOUT TESTING OR DEMOING OR ANYTHING, they risk their capital, then because they lost that cash, AND THEY CAN'T CONTROL THEIR EMOTIONS, they blame the person who freely presented his/her strategy, which, by the way, IS A VERY COMMON STRATEGY THAT EVERYONE KNOWS.

Let me give you some tips from a guy who has lost a lot of money before he finally got his head on straight:

1. You deserve to lose money when you follow someone's strategy on an Internet forum, WITHOUT TESTING IT YOURSELF. It's your own fault. You have to own that. YOU made the trade. MM didn't pull the trigger for you. YOU DID!

2. Quit blaming everyone else. If your broker is requoting on you, popping up annoying Waiting for dealer buttons, or whatever, THEN SWITCH TO A DIFFERENT BROKER. I use Oanda. I've never had a problem. I sure didn't have a problem today when I booked a bunch of pips from the market... and I haven't in the past trading with Oanda neither. If I do, then I'm changing brokers. I own that. I own my success. The broker doesn't. I DO.

3. Treat your trading like a business. I would put money on the fact that when you deposited that $1000, you did it with the mindset of, "Well, I don't really want or I can't lose this money, but hey, I hear Forex can make a lot of money quickly, so I might as well give it a shot..."

Don't tell me you don't think this way. If you didn't think this way, then you'd say nothing and accept the risk...

...which leads to my final tip:

4. Accept the risk. If losing 30% is acceptable to you, then so be it. But I guarantee it wasn't for you. And because of that, you should've never been trading with that much to lose 30%.

Sorry if I sound harsh, but ya know what, I needed to hear this exact thing before I got my head on straight.

And I know how it is to lose money -- I lost 75% of my account over a year, and then one day, after telling myself over and over and over for the past year to quit following other people without proper backtesting, and to quit overleveraging, I finally started to listen to myself and to my mentor. And now, my head is on straight and I'm finally working my way back up.

Trust me, I've been there. It sucks. And I will probably screw up at certain points going forward. I know where my head is -- I'm not perfect. But God knows I'm consistent now, and it's the greatest feeling in the world.
Mr. Trend
  • #345
  • Jul 28, 2006 2:52pm Jul 28, 2006 2:52pm
Quoting Mr Trend
Jessie, why are you so upset?

I find your comment regarding re-reading Mark Douglas' Trading in the Zone, and the fact that you blew 30% of your account VERY VERY (did I mention, VERY?) IRONIC.

Most people who are new to the business, do this exact thing -- they go to a thread, they take someone's strategy, and then WITHOUT TESTING OR DEMOING OR ANYTHING, they risk their capital, then because they lost that cash, AND THEY CAN'T CONTROL THEIR EMOTIONS, they blame the person who freely presented his/her strategy, which, by the way, IS A VERY COMMON STRATEGY THAT EVERYONE KNOWS.

Let me give you some tips from a guy who has lost a lot of money before he finally got his head on straight:

1. You deserve to lose money when you follow someone's strategy on an Internet forum, WITHOUT TESTING IT YOURSELF. It's your own fault. You have to own that. YOU made the trade. MM didn't pull the trigger for you. YOU DID!

2. Quit blaming everyone else. If your broker is requoting on you, popping up annoying Waiting for dealer buttons, or whatever, THEN SWITCH TO A DIFFERENT BROKER. I use Oanda. I've never had a problem. I sure didn't have a problem today when I booked a bunch of pips from the market... and I haven't in the past trading with Oanda neither. If I do, then I'm changing brokers. I own that. I own my success. The broker doesn't. I DO.

3. Treat your trading like a business. I would put money on the fact that when you deposited that $1000, you did it with the mindset of, "Well, I don't really want or I can't lose this money, but hey, I hear Forex can make a lot of money quickly, so I might as well give it a shot..."

Don't tell me you don't think this way. If you didn't think this way, then you'd say nothing and accept the risk...

...which leads to my final tip:

4. Accept the risk. If losing 30% is acceptable to you, then so be it. But I guarantee it wasn't for you. And because of that, you should've never been trading with that much to lose 30%.

Sorry if I sound harsh, but ya know what, I needed to hear this exact thing before I got my head on straight.

And I know how it is to lose money -- I lost 75% of my account over a year, and then one day, after telling myself over and over and over for the past year to quit following other people without proper backtesting, and to quit overleveraging, I finally started to listen to myself and to my mentor. And now, my head is on straight and I'm finally working my way back up.

Trust me, I've been there. It sucks. And I will probably screw up at certain points going forward. I know where my head is -- I'm not perfect. But God knows I'm consistent now, and it's the greatest feeling in the world.
I agree with almost everything you said. But I'm not blaming anybody but myself. I did backtest, I did get in with small parts at first. I'm just trying to bring some ballance to this hyped up thread about news trading like a holy grail. I have a great intraday trading system that took almost a year to develop. I was and still am making consistent profits, although small. Trading in the zone helped me and your advice helps too, but the fact still stands that I lost a big part of my account trading news. I'm not complaining, just stating a fact that I belive will help a lot more people than telling an exact trading strategy. Thank you for taking the time with your detailed post, I found wisdom in it.
  • #346
  • Jul 28, 2006 3:04pm Jul 28, 2006 3:04pm
Quoting jessieblue
I agree with almost everything you said. But I'm not blaming anybody but myself. I did backtest, I did get in with small parts at first. I'm just trying to bring some ballance to this hyped up thread about news trading like a holy grail. I have a great intraday trading system that took almost a year to develop. I was and still am making consistent profits, although small. Trading in the zone helped me and your advice helps too, but the fact still stands that I lost a big part of my account trading news. I'm not complaining, just stating a fact that I belive will help a lot more people than telling an exact trading strategy. Thank you for taking the time with your detailed post, I found wisdom in it.
This thread is about everybody saing how they trade news. It's not a new strategy thread, it's not about finding holy grail. It's about seeing what other people do.

If you lost money on trading news I understand you beeing mad. There are a few news that I trade. I had other systems that I trade.
Try hard, think fast, die young
  • #347
  • Jul 28, 2006 3:18pm Jul 28, 2006 3:18pm
Quoting dof
This thread is about everybody saing how they trade news. It's not a new strategy thread, it's not about finding holy grail. It's about seeing what other people do.

If you lost money on trading news I understand you beeing mad. There are a few news that I trade. I had other systems that I trade.
hi dof, Dont teach newbie trade news. you are killing them!!!! It's old man stuff. Dont try to be a moneymaster, try to be a good follower!!!!
  • #348
  • Jul 28, 2006 3:23pm Jul 28, 2006 3:23pm
Quoting dof
This thread is about everybody saing how they trade news. It's not a new strategy thread, it's not about finding holy grail. It's about seeing what other people do.

If you lost money on trading news I understand you beeing mad. There are a few news that I trade. I had other systems that I trade.
I'm not mad, I also have other systems. It's just that people like validation and others thinking "wow, I wish I was that guy" about them so whenever someone catches a big release you see them on the forums like look I made 80 pips in a few secconds, we will all be rich, and then a whole "hey, let's make a lot of easy money" threads start. A lot of noobs get caught there because cause they don't hear the other side that for everybody who made a big score one day there are four who lost big, but you won't hear from them, either they aren't very enthusiasthic about the loss or they think, screw it, let some others fall into that ,why should I be the only one. Well, I want to not be that guy and say that yes, I was stupid, I did get caught up in the hype and I did lose money. I'm not mad, nor do I blame anybody, but I also won't crawl into a corner and let others get burned. By the way, anybody ever seen a thread called I lost half of my account on a NFP? No, you didn't, who would admit that, and who would participate in such a thread. Again, I'm not mad, or upset, I paid to learn a valuable lesson and I'm sharing it for free to people who probably have a lot more money than me.
  • #349
  • Jul 28, 2006 3:26pm Jul 28, 2006 3:26pm
Quoting FlashJack
hi dof, Dont teach newbie trade news. you are killing them!!!! It's old man stuff. Dont try to be a moneymaster, try to be a good follower!!!!
It's not about teaching anybody, it's about discussing.
I think that trading news is the most difficult part of trading. It has to be tested more than a technical strategy.
I'm not good enough to teach people. You got me wrong.
I've started this thread to see how other people are doing it (trading news ), to discuss, to make an idea. That's all.
Big news can create big movement. I didn't say it's easy to make profit, but it's possible, I didn't say that I will teach. I've just asked how other trade.
Try hard, think fast, die young
  • #350
  • Jul 28, 2006 3:35pm Jul 28, 2006 3:35pm
Quoting jessieblue
I'm not mad, I also have other systems. It's just that people like validation and others thinking "wow, I wish I was that guy" about them so whenever someone catches a big release you see them on the forums like look I made 80 pips in a few secconds, we will all be rich, and then a whole "hey, let's make a lot of easy money" threads start. A lot of noobs get caught there because cause they don't hear the other side that for everybody who made a big score one day there are four who lost big, but you won't hear from them, either they aren't very enthusiasthic about the loss or they think, screw it, let some others fall into that ,why should I be the only one. Well, I want to not be that guy and say that yes, I was stupid, I did get caught up in the hype and I did lose money. I'm not mad, nor do I blame anybody, but I also won't crawl into a corner and let others get burned. By the way, anybody ever seen a thread called I lost half of my account on a NFP? No, you didn't, who would admit that, and who would participate in such a thread. Again, I'm not mad, or upset, I paid to learn a valuable lesson and I'm sharing it for free to people who probably have a lot more money than me.
A forum is not the place where you can find absolute truth. It's place where you can find and share ideas.
If somebody hides the fact that he lost an account... that's his choice.
If somebody wants to share how he caught 100 in 10 minutes... it's his choice.
If sombody wants to follow someoby else... that's his choice.
If somebody wants to say that he doesn't agree with trading news... that's his choice.

If somebody is stupid enough not to test something and bet his money on something somebody else said... let him do it, that's the only way to learn.

The internet is full of this: TEST BEFORE TRADE REAL MONEY. You have to be stupid or greed enough not to do so.

The thread is "How do you trade news?". It's not "Do you trade news? If yes, how, if now, why?".

I've created a thread where we can discuss if trading news woth it. This thread starts from the idea that it does. So, let's not mix things.
http://www.forexfactory.com/forexfor...8627#post78627
Try hard, think fast, die young
  • #351
  • Jul 28, 2006 3:41pm Jul 28, 2006 3:41pm
Quoting dof
It's not about teaching anybody, it's about discussing.
I think that trading news is the most difficult part of trading. It has to be tested more than a technical strategy.
I'm not good enough to teach people. You got me wrong.
I've started this thread to see how other people are doing it (trading news ), to discuss, to make an idea. That's all.
Big news can create big movement. I didn't say it's easy to make profit, but it's possible, I didn't say that I will teach. I've just asked how other trade.
hi dof,

I have been trading forex for 20 years, I am still here, 'cause I never trade the news. It's my full time job. News trading is like black hole. Dont wast time.
Nobody can be smarter than Greenspan.
  • #352
  • Jul 28, 2006 3:49pm Jul 28, 2006 3:49pm
Quoting FlashJack
hi dof,

I have been trading forex for 20 years, I am still here, 'cause I never trade the news. It's my full time job. News trading is like black hole. Dont wast time.
Nobody can be smarter than Greenspan.
Where were you at the start of this thread. I hate it when experienced traders wait so long to bring their input into a thread.
  • #353
  • Jul 28, 2006 3:53pm Jul 28, 2006 3:53pm
Hi,

I would really like this thread to get back on track. Everyone knows trading the news is difficult and dangerous; I think every book, website, forex tutor, forex course, etc., says so. As a matter of fact, trading Forex with any kind of strategy is risky!!

But for now, I really want to know something more about trading the news. Is anyone willing to share how you did with this morning's GDP data release?

Pablo.
Pablo
  • #354
  • Jul 28, 2006 4:13pm Jul 28, 2006 4:13pm
I traded this mornings release by straddling GDP/USA until it bolted then I cancelled the bottom trade. Eur/Usd seems to move a little fast and can eat
you up. Had 5 mini lots and made a fast $400. Came real close to hitting my bottom trade. I lose trying to trade technical and make all my money on news. Sometimes you can make some good pips leading up to news also, this is one area you better have a stop in place or your account can vanish.
  • #355
  • Jul 28, 2006 4:17pm Jul 28, 2006 4:17pm
Quoting ptejerina
Hi,

I would really like this thread to get back on track. Everyone knows trading the news is difficult and dangerous; I think every book, website, forex tutor, forex course, etc., says so. As a matter of fact, trading Forex with any kind of strategy is risky!!

But for now, I really want to know something more about trading the news. Is anyone willing to share how you did with this morning's GDP data release?

Pablo.
I was short. I had a buy order and a SL. My SL was hit and then thy buy order trigger. I made 40 pips short right before the news and 80 pips long.
Try hard, think fast, die young
  • #356
  • Jul 28, 2006 4:31pm Jul 28, 2006 4:31pm
Quoting dof
I was short. I had a buy order and a SL. My SL was hit and then thy buy order trigger. I made 40 pips short right before the news and 80 pips long.
120 pips Not bad...not bad at all
  • #357
  • Edited 5:13pm Jul 28, 2006 4:33pm | Edited 5:13pm
Quoting FlashJack
Nobody can be smarter than Greenspan.
You meant Bernanke. Lapsus calami
  • #358
  • Jul 28, 2006 4:41pm Jul 28, 2006 4:41pm
Quoting Alex
You meant Bernake. Lapsus calami
Bernake is nothing!!! Lapsus Calami......
  • #359
  • Edited 5:13pm Jul 28, 2006 4:52pm | Edited 5:13pm
Quoting FlashJack
Bernake is nothing!!! Lapsus Calami......
maybe,I can`t say much,but as he`s main man now,and Greenspan retired,I thought you meant Bernanke.But if you meant that,than my bad .Lapsus memoriae
  • #360
  • Jul 28, 2006 4:59pm Jul 28, 2006 4:59pm
Quoting Alex
maybe,I can`t say much,but as he`s main man now,and Greenspan retired,I thought you meant Bernake.But if you meant that,than my bad .Lapsus memoriae
Bernacke just start to work. We dont Know too much about him. Just know he confused the market few times.
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