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NFP trading idea 5 replies

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Attachments: NFP Results....
Exit Attachments

NFP Results....

Quoting MoneyMa$ter
(1) I'm not really predicting the market. I'm moreso looking at the consequential impact of politics on the market. Politics is big where I live;
Uh huh. You were predicting...

Keep on predicting ATMMa$ter, and when the FOMC results hit next week, it'll be maximum 0wnage...

http://www.convertedjourney.com/images/potatowned.gif
Mr. Trend
Quoting smjones
Mr M, you have a real job? I thought trading is your life... Scott
Yeah, unfortunately...I actually own a services company and have to show up once in a while to keep the moral up :-) Besides, it's the one financial aspect I have almost complete control over.

Trading is just an expensive hobby of mine...sort of like Golf...however, I'm much better at trading than golf...lol.

I like the math and science and economics involved. The financial aspect for me is just icing on a very large cake.
Quoting Mr Trend
Uh huh. You were predicting...

Keep on predicting ATMMa$ter, and when the FOMC results hit next week, it'll be maximum 0wnage...

http://www.convertedjourney.com/images/potatowned.gif





You are too hilarious!!!!!
Quoting mrmikal
ehhh...sarcasm is overrated :-) Besides, you can't really be subtle with sarcasm on a messageboard...you have to blunt...or it just doesn't come across well...lol
BEHOLD! The internationally accepted messageboard sarcasm indicator; the snark:

¡



Place it at the end of sarcastic comments: "That's a briliant idea¡"


Why not this little guy?



Quoting Darkstar
BEHOLD! The internationally accepted messageboard sarcasm indicator; the snark:

¡






Place it at the end of sarcastic comments: "That's a briliant idea¡"



Quoting suzuki
Made 25 pips on EURUSD -- not too many, I know -- but I'm still learning and I'm very conservative. As I gain experience I'll start being more trigger-happy. Thanks to MM for his insightful posts.

As long as you made pips and ended the day with a profit you are all good.
Quoting JosTheelen
+72 on EURUSD and -22 on USDJPY.

This looks like a nice hedge that ended in text book fashsion. congrats to you
Quoting FlashJack
Warning : Dont do news trading !!!!

No matter how many pips or times you win, just one time quick reversed
movement against your position, you will lose all of your capital !!!!

Did you see price moved down 100 pips , then up 300 pips before????

In 1988, price moved down 2000 pips in 20 minutes !!!!

Wish you all trading forex safer !!!!

Quick money goes quickly !!!!

Come on stop trying to scare people. News trading can be the most profitable . Using stop losses will keep you from losing all your capitol.stop trippin man
mrmikal, you are right about the downtrend after news releases, of course when trading news, you only want to be in the trade after you make a few pips. Sticking around can kill the bank, sort to speak. The NFR is a huge market mover, like today the NFR correlated with the unemployment (same thing), so that sent the USD weaker than other currencies. When i looked at the cable today during the news release, i seen over an 80 pip gain if going long on the Cable, because the US is weaker and the euro is gaining strength. Of course you dont stay in the trade for mroe than 10 min, like you said, the currency plumited fast after that. That is why it is safer to set goals, stop-loss. Or if anyone wants to do double trade with the NFR, then you can trade the uptrend (spike) and downtrend, which could have made serious money if done right. The first spike seems safe, but the downtrend can be crazy, sorta like TA'in. Overall, the forex biz is nothing to gamble on, play it safe and get out to trade a later day. Go NFR!!

- J
Quoting jonesla9
Come on stop trying to scare people. News trading can be the most profitable . Using stop losses will keep you from losing all your capitol.stop trippin man
I had a stop. I got slipped, lost a third of my account news trading with a reputable broker. I'm sure you're safe tho.
Quoting MoneyMa$ter
Well if you've been following other FF posts regarding news trading, and you were aware of recent changes in the practices of certain brokers, you could have been issuing a "cross signal".

If that's the case, then yes, it was way over my pay grade!!!!!

Please accept my sincere apologies (although I think others may have missed the sarcasm also).
mmmm.. me??
just make a few pips. 171pips GU for 4 open pos . Just noob but totally not straddle i'm not coward..
hepi to all..
I've been trading for about three months now.
I traded 2 mini lots on each of the following:
EURUSD = 69 pips
GBPUSD = 112 pips
USDCHF = 80 pips
Today's win was my biggest during my short fx trading career.

BTW, can someone explain what straddle is?
I still have lots of things to learn.
Hi MM,
Quoting MoneyMa$ter
FXSol was fine. They've adjusted and did what they do (by 8:15 am, they'd added 35 pips for buy and sell stops) and I adjusted and just do what I do - I made a few grand!!
Thanks



First NFP I've traded, I got +17 via a straddle on the day and +154 on a tiny position long from the night before. Will be busy refining entry and exit

Big Thanks for your positivity in this thread

Best regards
Alan
Quoting jeqcho
I've been trading for about three months now.
I traded 2 mini lots on each of the following:
EURUSD = 69 pips
GBPUSD = 112 pips
USDCHF = 80 pips
Today's win was my biggest during my short fx trading career.

BTW, can someone explain what straddle is?
I still have lots of things to learn.
A straddle is: placing two orders (Buy Stop -Above; Sell Stop -Below) with S/L and T/P if you like as part of your setup. You could also use Limit Orders but I wouldn't if you are new.

Straddles allow you to get into the trade as it takes off in the choosen direction (once determined by the market) BE SURE to close the opposing position. You will also need to have your BS or SS wide enough apart that you aren't whipsawed into the trade before it's ready. Or "pip hunted" by your broker/dealer.

Some dealer's will not allow this style of trading, but it can be used very effectively.

Good Luck
made $187, long eur/usd and shorted the usd/jpy, in retrospect I should of opened more lots but I have only been trading for 2 months. I still have more to learn.
"If I had any air in my lungs, I'd scream at you."
Quoting MoneyMa$ter
Great net of 50!!!

Help me understand....How'd you give them 22 on the USD/JPY because if you were long Euro you would have been short USD/JPY??
My method is the following: 5 minutes before the news, I buy/sell 2 currency-pairs, that behave opposite. In this case I bought EURUSD and I bought USDJPY. 15 seconds before the news, I put a small stoploss on both currency-pairs. When the news is public, one of the pairs goes up and the other goes through the stoploss.

So in this case, I bought 10000 EURUSD and 11500 USDJPY. Both have the same moneyvalue, around $1 each pip. I am working with small amounts, until I feel more comfortable with this method. 15 seconds for newstime, I put the stoploss at 10 (normally 7, but the spread was quite wide). Because the news was not good for the USD, the EURUSD went up and the USDJPY went down. The USDJPY went through the stoploss, 22 pips from the point I bought it. The EURUSD went up and after 1,5 minute I jumped out and sold it with a profit of 72 pips.

This method has advantages and disadvantages. You pay 2 times the spread at the start, but less compared with buying after the news comes out. You always lose the stoploss of one currencypair, but you have the full profit of the other. Especially important when it goes up very fast.
ha! i'm down in FL, moneymaster. originally canadian, though. would love to party until the fmoc, but, unfortunately, i am not able to trade multiple lots yet; but, i am very disciplined, have a plan, and hopefully I will be there soon!
Life is too short to have anything but delusional notions about yourself.
Hey MoneyMaster,

Thanks to following this thread and your excellent trading advice, made 50 pips on the run-up overnite and 3 lots of 25 pips on G/U I placed as a buy stop at 8:15.

Did it on my FXSol account (newly opened).

Nice start!

Thanks again, MM!

Gtrader444
Since I am a newbie (only traded live since April), I am trading in a super-mini account. And I am trading conservatively- not risking much at a time. But this week I am up 26% in my account. I don't know any banks who will give me that kind of returns.

I also am an FX Solutions customer, and the past week I have had trouble placing entry orders before announcement times. They won't let me place an order closer than around 30 pips away from the market price- and they won't let me place a tight stop (made me take 40 pip stop on GBP/USD and 38 pips was the closest I could get on the EUR/USD). So I went ahead and took a buy on the cable with a small amount of lots at market, and they let me put a tight stop on the market order. Then my entry order kicked in 40 pips later with the rest of my position. I also had my order straddled just in case, (I am not foolish enough to believe I am going to always predict the direction it will go, and because I have seen announcemnts that spiked one way then immediately went the other direction).

Thanks for sharing on this website. I am an appreciator!!
Hi MoneyMaster,

I'd just made 71pips with this NFP.

My account is small but even if my two straddling stop orders were triggered and then stopped out, my loss would still be 2% of capital. I'll increase my trade size next month if this month is running smoothly.

Thanks for your positive words, thinking and humour in FF.

Hoh
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