Central Banks & Big Players

That's why is good to be trend follower

TAH from Sonic R here.

Hats down gentlemen.

There is absolutely no need to look into every possible permutation that could exist but maybe there are 3 or 4 news events that when happen simultaneously will result in a good move. We might have a good idea which events could hold some potential and that is a good way to start. I already looked into Chinese news but surprisingly to me those did not have such a huge impact as I would have thought.

e.g. I traded the
USD Unemployment, CAD Building Permits today and secured roughly 25 pips. Not sure if I was lucky or if it's worth to look out for this combination but I will defiantly look into it again. Yes a move is not really set in stone but we talk about percentages and likelihood here. Nothing is for granted or we would have infinite money or a not working financial system all together.

Hi Monterson,

I also use Ironfx but havent trade the news with them. I was wondering if your stop loss is executed and with what average slippage?I am thinking of trading the NFP with them using Tony's strategy, but not sure about their stop order execution during news.

Lets go...

We can make it if we try.

I am ready.
May I ask you why you trade usd/cad so often when eur/usd just hast half the maximum spread?

come on nfp! dont let me down old buddy old pal!!!

usd/cad allows me to trade a bigger units amount because of my brokers leverage

oh okay. I got 12.5 pips... Well a win is a win right

I bought Usd/cad, got stopped on my way up. Not a big deal.

I closed the program to avoid re-entering, I think I lost 16 pips

Something really strange happened. Price spiked 90 pips up on gold 15 sec before the news release. On other usd pairs also was huge spike at that time. I have not even placed pending orders, i do it 10 sec before the news usually.

Yes the same happened to EUR/USD 10 seconds prior to the "planned release" time. I usually place my orders 90 secs prior to the announcement (with 100 pip sl and tp just to be sure) to avoid high spread. Yes, the price will move before but in the long run the win and loose from this movement will even out. I readjust my sl and tp 15 seconds and 1 second prior to the news so it worked out perfectly for me.

Well good question. IronFx is imperfect broker but I don't remember slippage problems here. Ironfx love to call you with help how to trade and you better don't pick up the phone

Regular problem with them is "turning machine off". Suddenly chart stops for minutes on laptops while on mobile is still OK and other way round for some reason.

i gather so many information about news trading for you guys ... really thanks for everyone for their honest reviews .. you guys are doing a great job sharing your experiences in here with all other members..that's what newbie like us wanted form experienced traders like you guys ..wish you all the best

Few years ago I met professional trader (Kris), that told me about Forex but when I asked him for help he said that without proper financial education and years spend with professionals in same room for long hours my chances are zero for constant earning and living from Forex money especially when operation on someone else money. I lough at him but now after years I thing he was right. I met here a lot of traders and all I can say is that most successful traders are very quite. More professional more shut. There is a lots of traders on Forex Factory that even open every few months demo accounts to show how easy trading is and every time they double their demo-money quick but they never show their real accounts, never show their withdrawal sums, never show their drawdowns. Another type of traders is that they KNOW Forex and teach you. They know for sure. They know exactly what "Market Maker", "Robber Banks" and "Evil Brokers" are doing now so they share their knowledge just to cheat them. Another type is "I know but won't tell". The true behind this is simple. Most of them are dreamers. They not only lie you but they lie them-self as well. Some guys that run one of biggest tread here even teach their followers that when Market Makers sell then price is going up! They teach it for few years now.
The true about Forex is that only few percent of traders make constant money and as far as I know they treat it as a job. They wake up in the morning, go to work, do the job, come back and play games to forget. They spend years learning and last thing they want to do is chat with newbies explaining everything for free answering same question for next couple of years. I am not surprised that Kris said that he make mistake years ago. He wanted to be a lawyer but he chosen Forex because looked easier.

To all newbies. Guys, Gals. Please do not believe in everything what people say and "ask to confirm" not "ask to know". Do your homework. Read books. Practice and be prepared to spend years before you get any constant money from Forex. Nobody let you do an open-heart surgery after 3 months at university, so you can't do it with Forex.

Hi Monterson!
You are perfectly right! By the way, Ii am a lawyer and I stop practicing five years ago. Since then i'm in forex, and aldough i haven't earn much i'm not sorry. I have traded for more than four years now, with real money(borowed from the bank), and blown my first account in one year. If you succeed in this, i think it's the best job ever. I don't want to scare any newbies but you must read a lot, spend many sleepless nights and try to find your own way of trading. But the most important thing, learn how the market works, learn the rules of the game. Couse in fact it is like a game, their rules, and remember this, the house allways win.
Good luck to ya all!

Ha, ha. So I bet most of lawyers dream "if I only start trading years ago".
The bigger surprise for me was when one professional trader said that it's normal to close year with negative number. I said that I never did it. He said: then try this time with few millions euro of someone else money and we will see. He also said if you don't loose other peoples money then you are a pro. Warren Buffett makes 20% a year, so why believe someone who says he makes it daily?

So Alex how would you describe the differences between being a lawyer and being a trader?

The difference is that as a lawyer you get money from the thieves and as a trader you give your money to the thieves!

.

Anyone ready tomorrow for Claimant count and unemployment as well as retail sales?