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Aussie Indicators tonight

  • #21
  • Aug 9, 2006 11:40pm Aug 9, 2006 11:40pm
Quoting learningtheropes
Ahhh, and that is the beauty of an entry order straddle.......if he sets them close to the price due to lack of pre-news volatility, gains seem "in the bag" in retrospect, however, if the release "lacks punch" and jogs up and down or vice-versa perhaps both are entered for an unpredictable ride???? For an unseasoned "newsie" (that is my new definition for news traders by the way....please feel free to use it?!) like me, with an uncertain volatility guarantee (unlike NFP of late), I think a 15 or 20 pip entry on both sides just b/4 release is perfect b/c if no volatility is created immediately, you can chicken out and cancel both orders right away, or like tonite, I see potential (in retrospect.....didn't play) for a net Long of 15-20 pips.......let's face it, you didn't think you'd score 100 pips on an AUD release, did ya?????
I agree.

I used to straddle as near as 10 pips away with 10 pips limit as well.
Should the price surges by 20+ pips, I am assured of a 10 pips win.

I have made some profits as well as lost some as well. So I dont do this anymore.

Secondly, since I am using FXCM where I cant modify my entries seconds before the news, I am forced to put my entries 25-30 pips away from the price for allowances
  • #22
  • Aug 10, 2006 12:32am Aug 10, 2006 12:32am
Quoting BurgerKing
I agree.

I used to straddle as near as 10 pips away with 10 pips limit as well.
Should the price surges by 20+ pips, I am assured of a 10 pips win.

I have made some profits as well as lost some as well. So I dont do this anymore.

Secondly, since I am using FXCM where I cant modify my entries seconds before the news, I am forced to put my entries 25-30 pips away from the price for allowances
I guess that is why my recco on this non-volitale guarantee would be a conservative straddle as close to release time as possible.....if set at 20 pips from current price 2 minutes pre-release, there was still immediate potential to get filled for a Long gain, then the opportunity to cut the Short order from the board (just in case), and the rest was all up to the eye of the beholder to take 5, 10, 15, 20, 25 pips. I think if you want to get involved in more than the, say 6-8, real volatile releases per month, you have to adopt a straddle strategy that allows you the chance to "chicken out" should there be no immediate reaction/run.

As seen in the "how do you trade the news" thread, I give FXCM the big NO-GO b/c their policies limit your ability to incorporate the appropriate strategy for the subtleties of each news trade.

......just Jim thinking again, and trying to "learntheropes"
  • #23
  • Aug 10, 2006 3:22am Aug 10, 2006 3:22am
Yeah that is correct.But when is big news report i do it 10 or 15 pips away.
Quoting BurgerKing
How far are your entry prices from the pre-release price? getting 20 pip profit suggests to me that you have the orders at +5 pips away? that scares me!
MIR
  • #24
  • Aug 10, 2006 5:47am Aug 10, 2006 5:47am
I missed this trade. It seems that you don't expect a big move on Aussie. Now my question is, does it worth it to trade it at all?
  • #25
  • Aug 10, 2006 5:54am Aug 10, 2006 5:54am
IMO Euro, GBP and USD are the only pairs worth news trading (also USDCAD). The others are duds usually. The AUSUSD and NZDUSD usually barely move. Look at the movement the past few weeks in the GBPUSD, EURUSD and USDCAD versus the anemic moves in the AUDUSD, NZDUSD. The JPY pairs move a lot too...but they are usually influenced by the movement in the EURO, GBP and USD.
  • #26
  • Aug 10, 2006 6:00am Aug 10, 2006 6:00am
Yardie,

Thanks for your valuable post.

My market analysis so far verifies what you mentioned here. I prefer to focus on "cable" and "euro" for major moves. Other pairs are usually affected by the news but the moves are not significant. You can easily make more via T/A approach. However, I'm working hard to analyse the movements of the pairs and hopefully will be able to provide others with useful information on Forex News Trading.

Have a great day,
Al
Quoting Yardie
IMO Euro, GBP and USD are the only pairs worth news trading (also USDCAD). The others are duds usually. The AUSUSD and NZDUSD usually barely move. Look at the movement the past few weeks in the GBPUSD, EURUSD and USDCAD versus the anemic moves in the AUDUSD, NZDUSD. The JPY pairs move a lot too...but they are usually influenced by the movement in the EURO, GBP and USD.
  • #27
  • Aug 10, 2006 6:34am Aug 10, 2006 6:34am
Another Aussie data coming out later. This time its Trade Balance.

Previous was -2.3B, forecast is -1.6B.. Something Aussie Bullish.

I hope AUD/USD would kick hard later.
  • #28
  • Aug 10, 2006 6:42am Aug 10, 2006 6:42am
Thanks for reminding us of this news. I hope to catch it for profit.



Quoting BurgerKing
Another Aussie data coming out later. This time its Trade Balance.

Previous was -2.3B, forecast is -1.6B.. Something Aussie Bullish.

I hope AUD/USD would kick hard later.
  • #29
  • Aug 10, 2006 6:46pm Aug 10, 2006 6:46pm
Its another DUD! It managed to move 10 pips down, then move 20 pips up.

Anyone straddling with a very small distance are caught for a loss.
  • #30
  • Aug 10, 2006 6:49pm Aug 10, 2006 6:49pm
Yeah dud for me too. Lost a few pips, but stops were tight so ok. :l
  • #31
  • Last Post: Aug 10, 2006 7:02pm Aug 10, 2006 7:02pm
Over at FXCM, they comment that there were heavy sellers camped at 0.7700 as the reason why it did not go up.

Perhaps those option people protecting their interest.

And also perhaps, USD is gaining steam globally due to the recent uk tyerror plot. look at audusd - its inching lower by the minute.
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