Closed all AUD's out with a small loss. I did it right before that huge 30 minute candle in new york. Dont know whaat that would have done to my basket but i dont want to live in the what ifs. Now im open on CAD news at 12:45. Good luck. Binnie I hope your positions were more profitable then mine.
How to trade NFP/FOMC and make pips
Closed all AUD's out with a small loss. I did it right before that huge 30 minute candle in new york. Dont know whaat that would have done to my basket but i dont want to live in the what ifs. Now im open on CAD news at 12:45. Good luck. Binnie I hope your positions were more profitable then mine.
I too don't like the Woulda Coulda Shoulda syndrome BUT for the sake of helping us understand the many & varied ways of playing the NEWS strategy, I have spotted something that might be interesting to discuss. A couple of my pairs got involved in what I am going to name as the WHIPLASH EFFECT. How can we guard against this ( Note this is a protection to lessen the effect as we will NEVER eliminate the risk of taking losses up & down on the same trade. I think there are 2 more pieces to this puzzle - between us all I hope we can come up with a strategy we can all benefit from . Teamwork the Key -
I will need a bit of time today to prepare a chart or 2 with an explanation of what I am talking about - should get this posted by tonite so bear with me
Hey Monk - is it OK for us to be using this thread or should we start a separate one dedicated to Scoobi's ideas.
Scoobi Doo Where Are YOU
NZ BASKET NOW CLOSED ( terminated at NY Session Close )
This was an experience and well worth the effort. The basket was allowed to run even though FOMC was looming.
My style will differ slightly to Monk's but I think we are reasonably close in approach. I have entered all 6 longs at News minus 5mins. Pending Shorts set at 30 pips except for the Pound which from my experience requires a little more space . I used 45 for that pair.
Next step for me was to place a safety net on all trades so Stops on the Longs were set around the Pending Short levels ( approx 30pips) and the Stops for the Pending Shorts were set back at the initial Long entries. My plan allowed for a maximum of 2 losses per pair and this did happen last night when I got Spiked into a short on the NJ and it travelled back up to the Long entry. So I took a double whammy there.
I would like to post a chart for all pairs but these would be repetitive so I have attached a screenshot of a good trade and also the Yen bad one. A screen shot is also attached to show net result at NY Session close .
Can these results be expected all the time - I guess not , but I think there is enough in the strategy to discuss and see if we can make it a high probability set up.
This was an experience and well worth the effort. The basket was allowed to run even though FOMC was looming.
My style will differ slightly to Monk's but I think we are reasonably close in approach. I have entered all 6 longs at News minus 5mins. Pending Shorts set at 30 pips except for the Pound which from my experience requires a little more space . I used 45 for that pair.
Next step for me was to place a safety net on all trades so Stops on the Longs were set around the Pending Short levels ( approx 30pips) and the Stops for the Pending Shorts were set back at the initial Long entries. My plan allowed for a maximum of 2 losses per pair and this did happen last night when I got Spiked into a short on the NJ and it travelled back up to the Long entry. So I took a double whammy there.
I would like to post a chart for all pairs but these would be repetitive so I have attached a screenshot of a good trade and also the Yen bad one. A screen shot is also attached to show net result at NY Session close .
Can these results be expected all the time - I guess not , but I think there is enough in the strategy to discuss and see if we can make it a high probability set up.
Nice work binnie. I made some net on that set up too. Just got out before FOMC. NZD GDP is here im already set up. Good Luck!
I just tuned in to the NZ GDP but doesn't look too exciting. If there is not much movement, what do you do personally ? You are in your longs obviously so are you just gonna wait it out to see what direction the market wants to move for the day or do you take a wee hit and close them all out?
I have also had a look at the FOMC which hit a few hours ago. Not too sure how relevant this info will be in hindsight but interesting anyway. Thought I would share my findings if anyone interested.
A couple of the pairs were spiked both ways so these losses were 30 Long and 60 Short . The others are still in process and I will leave them open until NY Session close tomorrow.
- #208
- Sep 17, 2014 7:05pm Sep 17, 2014 7:05pm
I am leaving them open till the last US RED news tomorrow. Then I will trade that with a different basket. The NZD looks like a small news release but i think that since the basket is up and running it is more of an opportunity cost to not leave it open. London and New York will move these out of the range and into a small loss or a small win. If we get it right a big win 
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I am leaving them open till the last US RED news tomorrow. Then I will trade that with a different basket. The NZD looks like a small news release but i think that since the basket is up and running it is more of an opportunity cost to not leave it open. London and New York will move these out of the range and into a small loss or a small win. If we get it right a big win
EU + 49
GU + 10
AU + 40
UCad + 16 Now Short with 2x value
UChf - 2 " " " "
UJ - 6 Stuck at original Long Entry
Will leave these overnite now till Lunchtime Fri New York . Only thing that might stuff things up is Scottish issue. Could whiplash both ways & take both Stops.
- #213
- Feb 7, 2015 11:58pm Feb 7, 2015 11:58pm
- Joined Jul 2012 | Status: Price Action Trader,Systems Coder | 615 Posts
Hola guys, last friday NFP was big JACKPOT with this concept. As USDXXX had excellent raise after strong NFP(thanks to USDJPY in particular ) and XXX USD fell apart (thanks to EUR USD in particular)
with this concept. As USDXXX had excellent raise after strong NFP(thanks to USDJPY in particular ) and XXX USD fell apart (thanks to EUR USD in particular)
Scoobi doobi doo
- #215
- May 29, 2015 5:38am May 29, 2015 5:38am
- Joined Jul 2012 | Status: Price Action Trader,Systems Coder | 615 Posts
I dont know if i did this right.. seems like a mess, thankfully just demo for now Scoobi what you think I know i did treble trade size againSo this is whipshaw, now that all positions are cleared they can get on with weakening the USD {image}
Scoobi doobi doo
- #220
- Edited Jun 1, 2015 3:58am May 31, 2015 12:20pm | Edited Jun 1, 2015 3:58am
- Joined Aug 2014 | Status: Trading | 2,163 Posts
Here is the first version of the EA I developed based on the strategy described in Post 1. This version has not been tested yet.
Usage: The user clicks on the Fire! button on the upper right side of the chart the EA attached to a few minutes before NFP/FOMC news release time, and the EA executes the strategy. 
Edit: The EA updated to Version 1.10.
Usage: The user clicks on the Fire! button on the upper right side of the chart the EA attached to a few minutes before NFP/FOMC news release time, and the EA executes the strategy.
Edit: The EA updated to Version 1.10.
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