dof, u're a PURE news trader or u apply both TA and FA?
Trying to be both.
There are few pure news trader because breake out is TA that many "news traders" apply it.
What's news trader? Somebody that trades during big news event, because news create moves, right? But how? Who's trading based on a breake out and who's trading based on the values that comes out, or based on the speach of Bernie?
All I've seen so far is 2 ordes, long an short 20-30 pips above/bellow the price. Can you call that news trader? Can you call that news trading?
How many listen the news, interpret it and take a trade base on it? I don't, so am I a news trader or a volatility trader?
there are differences between news trader and volatility trader...
- | Joined May 2006 | Status: Member | 65 Posts
ok, i'm sorry if i make any offending comment about your posts..
i'm glad if u can show us some darkside of the news/volatility trader, but don't make another noob scare with news trading..
with some tight risk management, nothing to be worried..
ok, my questions...
what is your broker when u lose large chunck of your capital trading news?
why did u look so upset when other people talk about news trading?
yes, i can. i risk only 1% of my overall capital...
even if i lose (which thank god i've never experienced that..), i still can make money using my TA and another news...
u want me to show my news trading? for what?
this is a forum to discuss, not to show off or bring paranoid...
i don't want to shut anybody's mouth, say whatever u want..
i'm wondering because it looks like jessiebluefilm have some kind of vendetta with news trading...
You sound can make money in news trading. Just talk, no tech. surpport,
no proof ???
You just fool around here!!!
:
Since order opened, nobody can limit the lose even stop lose order has been set. It's common sense. Are you trader ??? I doubt!
You sound can make money in news trading. Just talk, no tech. surpport,
no proof ???
You just fool around here!!!
i'd never loss in news trade, so i don't know whether they're going to stop me on my stop loss or not... time will tell us about that...
i'm just fool around here?
say what u want to say...
sometimes it's better to ignore rudeness and ignorance...
- | Joined May 2006 | Status: Member | 1,043 Posts
Hi,
My guess for why jessieblue is so upset with MoneyMaster (and then turned to news traders) is that he was the one who had followed MoneyMaster's 80% equity buying power and maximum leverage (400:1 if remember correctly) and traded with this NEVER-WIDEN-SPREAD-during-news broker (endorsed by MoneyMaster) and guess what? He lost THIRTY PERCENT of his hard-earned money which he couldn't afford to lose beause he'll be working abroad like a dog if his account was wiped out.
....He is mad because he CAN'T believe his account equity dropped so he definitely blamed MoneyMaster for this.
.......
But jessieblue forgot that MoneyMaster DID EMPHASIZE in his posts that that was HIS system because HE tried and fine-tuned by HIMSELF so HE was HUNDRED PERCENT confident with HIS OWN SYSTEM. MoneyMaster also emphasized that HIS way was NOT meant for news trading NEWBIE.
...
NEVER ever listen to anyone, including your broker, mentor, friend, full-time trader etc. to put your trade in more than 2% risk in capital. Never do this UNTIL you are profitable and your capital is as huge as MoneyMaster's.
Hoh
P.S. MoneyMaster was kind enough not to point out who's the one started all this FXS o l's mess and I think now he's busy trying to find a way to continue his life by news trading. Someone had just broken his tremendous income.
If you trade like you read, analyze and summarize, then I know you are successful!! Outstanding synopsis.
Yes, for me FXSol was just another learning opportunity, see success. An opportunity and a challenge to revise trading strategies and move forward.
Trinity correctly pointed out the increased spreads on GBP/USD. If you nonetheless had gotten in long with GBP/USD that day for GDP I think it was, it would have meant an entry price of 25 pips plus 1 and then the pair ran a total of 70 some odd pips, roughly. Thus rather than capture the entire move with that particular broker, you would have captured 50 pips. Not too shabby. So I suppose you could consider that a break in income.
As for jessieblue's $300 loss and his comment that I put up 80% and lost 16 grand, there's a little more to it than that. And for the love of God, I used my experience as a real-life example to say it's not always take-the-money and run; even I make donations to the cause. And as long as I withdraw more than I donate, I really don't mind.
Check it out; read the following very carefully. It's another Learning Opportunity See Success based on the $16K.
As I recall it was the US PPI pre-announcement and straddling. One side was triggered post announcement, a trend developed so I began canceling the other side. Standard procedure, right? However, the trend was short-lived, meaning I'd quickly made about 6 - 8k, when it started turning. I thought it was a momentary correction and so I let it ride (this had nothing to do with 80%, but everything to do with a crude decision). It rode alright, 20 pips in the other direction, stopping out my short, then triggering my long side (which I hadn't cancelled)!! Thinking it would continue long, I let the long ride and guess what, that reversed to the short side. When I decided to get out, I'd lost $16,000. (This is the 2nd time I've explained what happened on the 16 large; please learn).
Learn. The very next day US CPI almost did the same thing; trend started, momentary correction, then continuation of the trend (that's what PPI should have done, but didn't do). CPI was a more "normalized" move. Now I ask you: What would you have done differently for the PPI move?? Learn. Do you see a difference in the behavior of those two news items?? Do they (PPI and CPI) always behave this way?? Is one stronger than the other?? Learn.
Finally, in most of my FF posts I closed with the standard phrase: Just information; not a recommendation. Particularly in some of the later posts, in regards to my trading strategies, I used stronger, direct phrases regarding using 80%: "the following is trader heresy"; "this is Big Boy stuff"; "put the kiddies to bed"; "Forex is inherently risky". I repeatedly insisted that traders develop and take ownership of their own system that consistently produced 5-10 pips....consistently. Then, and only then, reinvest profits working your way up to multiple lots based on the confidence you have in your system. You have to hire someone to misunderstand the wording and intent of those posts, I don't care what language you speak.
In any event, no apologies because I know someone(s) somewhere(s) was blessed and made money where before they lost. Sure FXSol changed their practices... but so what??? [trucco, i don't want to hear it.]
Obviously the system (simply a basic breakout straddle that's been around since before the foundation of the world) worked, well. Judging from the PMs and emails I received, people (you can call us traders but really we're all people) made money and apparently a significant chunk of money so the broker did what it had to do and we do what we do: take what the defense gives us and revise our offense. No crying.... no griping... just think about a new route to success.
Just information; not a recommendation.