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Fundamental Trading with a Directional Bias

  • #101
  • Mar 29, 2015 7:13pm Mar 29, 2015 7:13pm
I used to make a killing trading news as much as 30% a trade, but slippage really fucks you up...I no longer trade news because the slippage is a fucker. If there was no slippage and my broker filled my orders correctly, I would be richer than Warren Buffet . The news trading works for a little while, but it doesnt work it can really drain your account. But when it does work, man it feels like you won the lottery!

Whoever has traded the news knows what I'm talking about

Anyway, you live and you learn..
Trade smart, not hard
  • #102
  • Mar 29, 2015 7:47pm Mar 29, 2015 7:47pm
Quoting jakeparkin
Last week was pretty straight forward for the markets.
Thanks again JP. Much appreciated :-)
  • #103
  • Mar 30, 2015 2:39am Mar 30, 2015 2:39am
@TimTheTrader i know exactly what you mean. I used to think straddles trading the news was going to make me rich tooo lol, but now i trade before but based on the news. If I fancy leaving it on through the news i can take half off before and move the rest to BE
  • #104
  • Mar 30, 2015 5:31am Mar 30, 2015 5:31am
Forgot to mention that this Friday and next Monday are bank holidays over here in the UK so no trading for me!
  • #105
  • Mar 30, 2015 6:07am Mar 30, 2015 6:07am
Quoting jakeparkin
Forgot to mention that this Friday and next Monday are bank holidays over here in the UK so no trading for me!
Slacker
  • #106
  • Mar 30, 2015 6:39am Mar 30, 2015 6:39am
Quoting jakeparkin
.............., but now i trade before but based on the news. If I fancy leaving it on through the news i can take half off before and move the rest to BE


This is an excellent approach!!
Doing very well so far with this method.

1. You need to filter the BIAS from the forecast has to have a big divergence ( previous vs forecast ) so that the market will follow the forecast accordingly.
2. Have your RSS FEEDER ready at all time. There a always news going on around the world that can shift the price movement.
3. Best entry at GMT 0 / or when price is near high low of the day.

Wil share the pic with my live trade.

Good luck
Risk Less Gain More, Trade Less Make More
  • #107
  • Mar 30, 2015 6:43am Mar 30, 2015 6:43am
Quoting bullbearies
{quote} This is an excellent approach!! Doing very well so far with this method. 1. You need to filter the BIAS from the forecast has to have a big divergence ( previous vs forecast ) so that the market will follow the forecast accordingly. 2. Have your RSS FEEDER ready at all time. There a always news going on around the world that can shift the price movement. 3. Best entry at GMT 0 / or when price is near high low of the day. Wil share the pic with my live trade. Good luck
What % of times is GMT 0 the high or low of the day?

might be an interesting stat if true
  • #108
  • Mar 30, 2015 6:49am Mar 30, 2015 6:49am
@verv I know let myself down there

@bullbearies Sounds interesting, that's why I try to find a decent level of support and resistance as sometimes I left it till around 6:00AM when I wake up and a pair had already bounced and travelled even 30 pips. It was a killer

With the deviation, to be honest yes that's what I try to look for too, I don't think we can get a clear defined way in which we take the trade, we just have to take a view of what is happening fundamentally at that specific time to decide whether it's a trade worth taking.
  • #109
  • Mar 30, 2015 7:25am Mar 30, 2015 7:25am
Waiting for EU to retrace back to my buy area,
and hope it will bounce back up before the Pending home sale news release. If the PHS new realease is bad for USD .... 70% price will move back all the way up to break the high of the day.

http://prntscr.com/6n86xd

GL
Risk Less Gain More, Trade Less Make More
  • #110
  • Mar 30, 2015 7:28am Mar 30, 2015 7:28am
I am not a tech blind, but i really don't know how to put the picture right in to the thread instead of the link

Alternatif trade .... look for any USD PAIR that is close to high or low for reversal, with SL 20 pips above or below. when the PHS news release is bad for the USD. It might reverse and stay with in the range they made today.

GL
Risk Less Gain More, Trade Less Make More
  • #111
  • Mar 30, 2015 7:41am Mar 30, 2015 7:41am
Quoting verv
{quote} What % of times is GMT 0 the high or low of the day? might be an interesting stat if true

I meant i make my entry JAKARTA time 07:00. for AU, NU, JPY, GU, EU, CHF news divergence.

From the result of any EARLIER NEWS that already has actual, i will trade it VS any pair that has opposite FORECAST in the COMING EVENT.


For USD news i wait for any development of the pair movement.


GL
Risk Less Gain More, Trade Less Make More
  • #112
  • Mar 30, 2015 8:21am Mar 30, 2015 8:21am
Just bought GU
Already in the low of the day, next upcoming event is PHS with BIAS negatif for USD

SL = 1.474
http://prntscr.com/6n8u0b

GL
Risk Less Gain More, Trade Less Make More
  • #113
  • Mar 30, 2015 8:23am Mar 30, 2015 8:23am
@bullbearies

Sounds great and looks great actually.

To be fair, I know see trading as quite simple. You're simply looking for a strong vs weak pair, and then a level. People just seem to make it harder than it needs to be...

Do you trade for a living?
  • #114
  • Mar 30, 2015 8:24am Mar 30, 2015 8:24am
GU already up by 10+ pips and planning to keep it until the PHS realease, hopefully it's bad for USD.

Set my SL to BEP now.
Risk Less Gain More, Trade Less Make More
  • #115
  • Mar 30, 2015 8:25am Mar 30, 2015 8:25am
Quoting bullbearies
GU already up by 10+ pips and planning to keep it until the PHS realease, hopefully it's bad for USD. Set my SL to BEP now.
Just checked the charts, great trade there mate!!
  • #116
  • Mar 30, 2015 8:42am Mar 30, 2015 8:42am
http://prntscr.com/6n93ct

Update ...
Risk Less Gain More, Trade Less Make More
  • #117
  • Mar 30, 2015 8:57am Mar 30, 2015 8:57am
Quoting bullbearies
http://prntscr.com/6n93ct Update ...
That's fantastic mate well done! It's something I've never done look at it for the low and high of the day! But great trade!!
  • #118
  • Mar 30, 2015 9:04am Mar 30, 2015 9:04am
Quoting jakeparkin
{quote} That's fantastic mate well done! It's something I've never done look at it for the low and high of the day! But great trade!!
Out of that trade .... 10+ pips taken.

Looking to sell EU now
Risk Less Gain More, Trade Less Make More
  • #119
  • Mar 30, 2015 11:28am Mar 30, 2015 11:28am
Quoting jakeparkin
@bullbearies Sounds great and looks great actually. To be fair, I know see trading as quite simple. You're simply looking for a strong vs weak pair, and then a level. People just seem to make it harder than it needs to be... Do you trade for a living?
Been trading for living for almost 4 years now. Like any others ... i learnt the hard way. trying to find a holy grail. In fact whatever i need is right i front of me. Discipline is a must. Don't make a trade. It will come to us sooner or later. Like they always do. And for our mistakes.... we will always do the same thing again and again.

Bear in mind... The market mover is as fearful and greedy as we are. The tend to drive the market HIGHER so they can SELL and make more profit. Push the market to the LOWER so they can buy and make more profit to. But one thing for sure.... the don't just look at technical view but MORE to FUNDAMENTAL VIEW. That's why they become member of REUTERS and pay alot of money so that they can get an update ASAP.

Thanks to the news technology now we can be ALMOST as fast as they are in getting information FOR FREE!!!

WHEN TECHNICAL VIEW and FUNDAMENTAL VIEW MEET ... THEY ARE BEAUTIFUL!!!

GL
Risk Less Gain More, Trade Less Make More
  • #120
  • Mar 30, 2015 2:01pm Mar 30, 2015 2:01pm
Hi,

What news feed would you suggest to get news update as soon as they are released (economic calendar) ?
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