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  • #14,401
  • May 12, 2015 3:12pm May 12, 2015 3:12pm
Another advice for the news traders, look at the order book before the news to set your sl and tp better. I just did on nzd and it was quite funny!
  • #14,402
  • May 12, 2015 3:15pm May 12, 2015 3:15pm
I had a buy limit at 0.7320 but it didn't get triggered.
  • #14,403
  • May 13, 2015 12:01am May 13, 2015 12:01am
Quoting Alex81
The difference is that as a lawyer you get money from the thieves and as a trader you give your money to the thieves!
Abuhahahaha.

Oh that was really good
Pure Price Action Trading
  • #14,404
  • May 13, 2015 12:05am May 13, 2015 12:05am
Quoting Kilian19
{quote} . Anyone ready tomorrow for Claimant count and unemployment as well as retail sales?
Unemployment, Retail sales ? I don't think this are good news to be trade. Please look at my list few posts ago.
Pure Price Action Trading
  • #14,405
  • May 13, 2015 12:08am May 13, 2015 12:08am
Quoting Alex81
I had a buy limit at 0.7320 but it didn't get triggered.
Unfortunately automatic orders doesn't work, that why Tony repeats about manual trading.
Pure Price Action Trading
  • #14,406
  • May 13, 2015 1:11am May 13, 2015 1:11am
Quoting Monterson
{quote} Unemployment, Retail sales ? I don't think this are good news to be trade. Please look at my list few posts ago.
Unemployment and Claimant is at the same time for the same currency, maybe I picked the wrong one when creating the post.

Core Retail Sales have proven to be very good for me in the past.
http://www.forexpeacearmy.com/forex_...0Sales%20m%2Fm
  • #14,407
  • May 13, 2015 1:25am May 13, 2015 1:25am
I got it now. I set FF not showing medium impact news hence I didn't see it.
Most of high impact does nothing so what medium can?

Retail sales is not on my list for news trading but I keep an eye when open long term position especially near S/R lines.
If it is good for you and you predict it right and make money - do it. That's how we get experience and professionalism from.
Pure Price Action Trading
  • #14,408
  • May 13, 2015 1:33am May 13, 2015 1:33am
Taa Daa....

Bad news, GU up
Pure Price Action Trading
  • #14,409
  • May 13, 2015 1:54am May 13, 2015 1:54am
Waiting for Carney.
There are many wise people, but only a few of them are rich.
  • #14,410
  • May 13, 2015 5:32am May 13, 2015 5:32am
Quoting Monterson
I got it now. I set FF not showing medium impact news hence I didn't see it. Most of high impact does nothing so what medium can? Retail sales is not on my list for news trading but I keep an eye when open long term position especially near S/R lines. If it is good for you and you predict it right and make money - do it. That's how we get experience and professionalism from.

Just got 50 pips there

Edit: Does someone know of a way to get spread charts with a resolution of roughly 5 seconds? I would be very interested how and when spread widens. If not I am going to write an indicator myself.
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  • #14,411
  • May 13, 2015 5:38am May 13, 2015 5:38am
Quoting Kilian19
{quote} Just got 50 pips there {image}
You got it but as it is near Resistant Line it looks that it struggled to go through. We will see during the day. I still got open position.
Pure Price Action Trading
  • #14,412
  • May 13, 2015 5:42am May 13, 2015 5:42am
Quoting Monterson
{quote} You got it but as it is near Resistant Line it looks that it struggled to go through. We will see during the day. I still got open position.

I experiment around with small position sizes and a very low sl. Usually 13 pips opposed to a roughly 30 pips I get on average winning trades is still fantastic but I close out positions really really quickly. That is one of these uncertain parts I am still struggling about.
Is a good news event good enough to push the currency higher up for the next hour or is just the small spike all the impact it has? I have seen currencies closing the news gap more often than not but I still think I close out trades too quickly.
  • #14,413
  • May 13, 2015 6:22am May 13, 2015 6:22am
Quoting Kilian19
{quote} Just got 50 pips there Edit: Does someone know of a way to get spread charts with a resolution of roughly 5 seconds? I would be very interested how and when spread widens. If not I am going to write an indicator myself. {image}
I wouldn't bother for that. I would look for another broker with fix spread instead. I have tried this method several times and so far has been very good.
  • #14,414
  • May 13, 2015 7:18am May 13, 2015 7:18am
Quoting Kilian19
{quote} I experiment around with small position sizes and a very low sl. Usually 13 pips opposed to a roughly 30 pips I get on average winning trades is still fantastic but I close out positions really really quickly. That is one of these uncertain parts I am still struggling about. Is a good news event good enough to push the currency higher up for the next hour or is just the small spike all the impact it has? I have seen currencies closing the news gap more often than not but I still think I close out trades too quickly.
I had the same problem with day trading.

What I can suggest about news is if after release candle is drawing fast and then stops especially near Support/Resistant Lines then it rarely will extend. If it goes with no breaks over 60 pips then chances for bigger move are increased. If there are no S/R lines near then pips are coming to you pocket freely.
Pure Price Action Trading
  • #14,415
  • May 13, 2015 7:45am May 13, 2015 7:45am
Quoting Monterson
...
Sounds reasonable. I think I will let half my position run if all the conditions are met for now. Thank you

Quoting itsasecret;
I wouldn't bother for that. I would look for another broker with fix spread instead. I have tried this method several times and so far has been very good.
I am perfectly happy with my broker. Fixed spread usually means you are dealing with slippage during news which can become a huge issue. I just want to know when it's best to enter into trades and when it's best to exit. I usually get in 90 seconds ahead of the news which has worked fine so far but if I can see how spread behaves I might even be able to reduce my stop loss even more.
  • #14,416
  • May 13, 2015 7:58am May 13, 2015 7:58am
Kilian19. How do you quote a few posts?
Pure Price Action Trading
  • #14,417
  • May 13, 2015 8:08am May 13, 2015 8:08am
Quoting Monterson
Kilian19. How do you quote a few posts?
Using the good old manual way.

Inserted Code
[quote=name;postid][/quote]

postid you can leave blank if you want. it's not necessary most times.


Have you ever considered trading natural gas? natural gas storage seems to be a huge opportunity every week. I have to observe it in action once though.
  • #14,418
  • May 13, 2015 8:34am May 13, 2015 8:34am
Quoting Kilian19
{quote} Using the good old manual way. {quote} postid you can leave blank if you want. it's not necessary most times. Have you ever considered trading natural gas? natural gas storage seems to be a huge opportunity every week. I have to observe it in action once though.
Quote
Have you ever considered trading natural gas? natural gas storage seems to be a huge opportunity every week. I have to observe it in action once though.


No I haven't. It's on medium impact. Have you trade it?
Pure Price Action Trading
  • #14,419
  • May 13, 2015 8:38am May 13, 2015 8:38am
Quoting Kilian19
postid you can leave blank if you want. it's not necessary most times.
I am gonna to play with it.

Thanks Kilian19.
Pure Price Action Trading
  • #14,420
  • May 13, 2015 9:15am May 13, 2015 9:15am
Quoting Monterson
{quote} {quote} {quote} No I haven't. It's on medium impact. Have you trade it?
Yes it's medium because it has no impact on the forex market, but on the commodity itself it seems pretty solid. I haven't traded it yet but I will take a close look at it. At the moment it looks like one of the best news to trade regularly to me.

The square on the right are roughly 80 points with current non news spread being 4 points and that on a weekly basis!. But as said before. I don't know how spread widens and I will closely take a look at it tomorrow.
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