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US Retail Sales

  • #1
  • First Post: Aug 11, 2006 7:23am Aug 11, 2006 7:23am
Can we trade these news release?
  • #2
  • Aug 11, 2006 7:42am Aug 11, 2006 7:42am
Made 12 pips... should have made more. Got out before the second move.
The market is my nation. Traders, my family. Hello, brothers and sisters!
  • #3
  • Aug 11, 2006 7:49am Aug 11, 2006 7:49am
Man I lost about 10 pips total on this report. I also got out to early and missed about 30 pips, but what makes me make is what broker did! I'm with forex.com and they did not fill my stop order at my price. NOT my entry stop order a stop of the position I had open before the news came out, over 25 pip slippage!!!!!!!! Not cool

Yet I have to say with them because I dont know another broker that I can switch to. Oanda is having its problems and 50:1 leverage means I have to depost more money for my trades....Well I'll just see how it works out.

Hope you guys are having a better day.
  • #4
  • Aug 11, 2006 8:21am Aug 11, 2006 8:21am
FXCM was kind to me today. Was able to enter at my price (1.8940); no limit and let trailing stop (1.8900) close it.

For the love of forex, I had the gut feeling of a very good number favoring USD and I did not bother putting a LONG entry. I however was CHICKEN today; instead of the usually do 4-5 lots, I bet only 1.

Hmmm.. Hindsight, perhaps if I placed 4 lots, I may not be filled on my price?

Off to the next news..
  • #5
  • Aug 11, 2006 8:24am Aug 11, 2006 8:24am
Quoting Crestwind
Man I lost about 10 pips total on this report. I also got out to early and missed about 30 pips, but what makes me make is what broker did! I'm with forex.com and they did not fill my stop order at my price. NOT my entry stop order a stop of the position I had open before the news came out, over 25 pip slippage!!!!!!!! Not cool

Yet I have to say with them because I dont know another broker that I can switch to. Oanda is having its problems and 50:1 leverage means I have to depost more money for my trades....Well I'll just see how it works out.

Hope you guys are having a better day.
How is 50/1 leverage bad? 1%/day should be your target. It doesnt matter what the $ amount is... if you capture %... within a year or two you will be making a living off of trading.

Get rid of Forex.com. Go with GFT, Oanda if you are looking for a retail MM. Just my opinion of course.
The market is my nation. Traders, my family. Hello, brothers and sisters!
  • #6
  • Aug 11, 2006 8:26am Aug 11, 2006 8:26am
Would you believe my broker set a 15 pip premium...... on US retail sales news???

Still the initial push was 50 pips on cable 1.8950 - 1.8900 but all I managed to make was $1,100. Why because I set my take profit point at less than 20 points from my short entry. Slow day but still a great start for the weekend.

Note well: The broker didn't do anything to me... I simply set the TP too close because I didn't think retail sales would move the market 50 points. So what would you do next time, given an announcement that doesn't necessarily go through the proverbial roof? [rhetorically asked, but you think about it].
  • #7
  • Aug 11, 2006 8:28am Aug 11, 2006 8:28am
Quoting BurgerKing
For the love of forex, I had the gut feeling of a very good number favoring USD and I did not bother putting a LONG entry. I however was CHICKEN today; instead of the usually do 4-5 lots, I bet only 1.

Hmmm.. Hindsight, perhaps if I placed 4 lots, I may not be filled on my price?
Six Words....

"Trading in the Zone".... read it.
  • #8
  • Aug 11, 2006 8:33am Aug 11, 2006 8:33am
I badly need Discipline. Can I order a copy online? If so, where/how much?

Its available over at Amazon. Is it really worth it?
  • #9
  • Aug 11, 2006 8:43am Aug 11, 2006 8:43am
Very good advice..

Quoting MoneyMa$ter
Six Words....

"Trading in the Zone".... read it.
  • #10
  • Aug 11, 2006 8:45am Aug 11, 2006 8:45am
I'd send you my copy for the price of shipping, but can't part with it. It's like magnet to me...
Yes, you can get a copy @ Amzn.



Quoting BurgerKing
I badly need Discipline. Can I order a copy online? If so, where/how much?

Its available over at Amazon. Is it really worth it?
  • #11
  • Aug 11, 2006 8:45am Aug 11, 2006 8:45am
Quoting BurgerKing
I badly need Discipline. Can I order a copy online? If so, where/how much?

Its available over at Amazon. Is it really worth it?
It's pretty much the only book you should read.

And of course, mine, when it gets published.
Mr. Trend
  • #12
  • Aug 11, 2006 9:22am Aug 11, 2006 9:22am
Quoting BurgerKing
I badly need Discipline. Can I order a copy online? If so, where/how much?

Its available over at Amazon. Is it really worth it?
The only question is are YOU worth it??
  • #13
  • Aug 11, 2006 10:47am Aug 11, 2006 10:47am
I posted this on a diff forum:

For me it was on a demo, since i am looking around for a broker. It was weird, i had one window open with my anchor spots too, once i placed a trade, that windo disappeared! I still had the main window open, so i was watching my trades, which made 13 pip profit. But i dont like it when this happens, even though i have a demo, i take my expierence of my demo'ing to decide if i am going to go live. Right now, it doesnt look good, it looks like ***** had the same problem, and many others on different forums. Man, how many new news traders are there trying oanda?

and

Went short on the EUR/USD, expected at .5% (ex-auto), give or take 1% as triggers, which makes it 1.5% upper to go short, -.5% for long. Since it came out at 1.4%, it can still effect the market, which it has! I made 14 pips on Oanda, could have made more if i acted faster. MBtrading didnt fill my trade for about 45 seconds, which is costly (this is on a demo!) and their spread was 29 on the Japan Yen/ USD. Spread for oanda was about 7-9, but this still made profit!

Question open to some:

Does anyone have problem with oanda this morning? I had, from my first post is the result. The trade result is the second, which details my triggers and what not.
  • #14
  • Aug 11, 2006 12:17pm Aug 11, 2006 12:17pm
Quoting MoneyMa$ter
So what would you do next time, given an announcement that doesn't necessarily go through the proverbial roof? [rhetorically asked, but you think about it].
I actually sat on the sidelines (actually.......slept in today!)......I didn't think the report would of had much punch either.......next time, when I'm set up somewhere besides FXCM, I will set a straddle on the report and cancel the orders if it doesn't do what it did this morning. Of course, I'm still conservative on this news game, and I will most likely be Long and Short 20 pips from the market so I can chicken out in the absence of an immediate run...

Have good w/e all.
  • #15
  • Aug 11, 2006 1:27pm Aug 11, 2006 1:27pm
Quoting Crestwind
Man I lost about 10 pips total on this report. I also got out to early and missed about 30 pips, but what makes me make is what broker did! I'm with forex.com and they did not fill my stop order at my price. NOT my entry stop order a stop of the position I had open before the news came out, over 25 pip slippage!!!!!!!! Not cool

Yet I have to say with them because I dont know another broker that I can switch to. Oanda is having its problems and 50:1 leverage means I have to depost more money for my trades....Well I'll just see how it works out.

Hope you guys are having a better day.
I have forex.com too. Yeah, when the market is moving FAST, forex.com will fill your stop or limit at the next best price. It's gay, that happened to me last week too, i put a stop, to protect some profit and it filled 20pips away from my stop and put me at a realized LOSS! I was kind of pissed. It's so stupid, cuz when you're trying to click on the dealboxes at the top to enter a position when the market is moving really fast, it'll reject you and say, "rate has changed" even though I wish i could get the next best rate in a fast moving market. But if you set a stop/limit it'll execute at the next best rate, so it's kind of contradictory.

What does anyone think about FXSOL? they have like 400:1 leverage and the spread is lower on most pairs....
  • #16
  • Aug 11, 2006 1:50pm Aug 11, 2006 1:50pm
[quote=MoneyMa$ter]Would you believe my broker set a 15 pip premium...... on US retail sales news???

MM, do yo mean: spread??
  • #17
  • Aug 11, 2006 2:13pm Aug 11, 2006 2:13pm
Didn't bite the inital drop, but found that the retrace was quite nice! Kinda like playing the retrace. It happens on almost all news.
Don Life is expensive, but includes a free trip around the sun.
  • #18
  • Aug 11, 2006 2:42pm Aug 11, 2006 2:42pm
Quoting MoneyMa$ter
Would you believe my broker set a 15 pip premium...... on US retail sales news???

Still the initial push was 50 pips on cable 1.8950 - 1.8900 but all I managed to make was $1,100. Why because I set my take profit point at less than 20 points from my short entry. Slow day but still a great start for the weekend.

Note well: The broker didn't do anything to me... I simply set the TP too close because I didn't think retail sales would move the market 50 points. So what would you do next time, given an announcement that doesn't necessarily go through the proverbial roof? [rhetorically asked, but you think about it].
MM,
I had something very similar to you. I had a short order for 8950 with a 20 pip TP. Due to slippage, it opened at 8922 and stopped me immediately because my TP was 8930 . How f**** can that be ???? I called FXDD and they refunded the loss. But that was very very wierd. Never happened on demo. The solution i think would be to set your TP at atleast 80-100 pips to cover a scenario like this.


Well , why i posted is to tell you that you are lucky. What if instead of 15 pips it had slipped 25 pips and you had a TP of 20? You would have been stopped out with a loss even though the movement was in your direction. Something to investigate and keep in mind.

Happy trading and have a good weekend
  • #19
  • Aug 11, 2006 5:00pm Aug 11, 2006 5:00pm
Quoting abcxyzzz
It's gay, that happened to me last week too, ...

What does anyone think about FXSOL? they have like 400:1 leverage and the spread is lower on most pairs....
Whaa??? :surprised Wha' happen to you last week??

Oh well, anyway, do a search on FXSol in Forex Factory and you'll find a veritable multitude of sound opinions on FXSol. Saves us the re-writes.
  • #20
  • Aug 11, 2006 5:03pm Aug 11, 2006 5:03pm
Quoting forexplayer
MM,

Well , why i posted is to tell you that you are lucky. What if instead of 15 pips it had slipped 25 pips and you had a TP of 20?
Hey,

I definitely don't do luck; I do the Lord and He's a jealous God. But check this out, consistent with your point on FXDD's refund: FXSol wants details on my recent slippages. And they called me!!! This ought to be interesting.
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