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US Retail Sales

  • #21
  • Aug 11, 2006 5:16pm Aug 11, 2006 5:16pm
Quoting MoneyMa$ter
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.
Please do keep us updated . Also, i see that u have been trading the news for a while, have u ever experienced what i had with fxdd today?
  • #22
  • Aug 12, 2006 2:22am Aug 12, 2006 2:22am
[quote=everskoeln]
Quoting MoneyMa$ter
Would you believe my broker set a 15 pip premium...... on US retail sales news???

MM, do yo mean: spread??
My broker set a minimum buy-sell stop entry point of +15 pips from the market price. To me, the spread is the difference between bid and ask, normally 2 pips and up depending upon the currency pair. The spread remained the same.
  • #23
  • Aug 12, 2006 2:33am Aug 12, 2006 2:33am
Quoting forexplayer
Also, i see that u have been trading the news for a while, have u ever experienced what i had with fxdd today?
Something similar but not quite.

My entry order slipped 21 pips, my TP wasn't hit because it was further away (like you suggest set TP at 100 pips). I liquidated for a profit on my decision. It's posted somewhere in FF; I believe it was FOMC.

And before Mr. Trend starts with the jokes, it's 3:29 am est and my dog decided to awake in the middle of the night. Trying to bark the Star Spangled Banner at midnight I think. Returning to sleep after several hours of peaceful slumber is difficult for me. What's even more challenging is my 8:57 am tee time!!
  • #24
  • Aug 12, 2006 6:53pm Aug 12, 2006 6:53pm
Two good days for me.


60 pips on the trade balance. $$$
30 pips on the retail report.

FXsol is my broker and I had the typical issues, but why would I complain.

Also, I never set Take Profit limits. I do set stops and move them to Break Even ASAP. If it does not move with me in a convincing manner at least I don't lose.

Most times though I am fine and I lock in profits.

DC
"There is MORE Happiness in giving than receiving"
  • #25
  • Aug 12, 2006 7:18pm Aug 12, 2006 7:18pm
Quoting drcole1
Also, I never set Take Profit limits. .....
Most times though I am fine and I lock in profits.

DC
Good point and good week doc.

It's been a while but I believe I started setting TPs because a news spike can suddenly reverse, leaving me little time to physically or manually take the profits. Once my TP is touched, profit is automatically locked in and the market can do whatever it wants.

Each trader's system conforms to the individual's preferences....
  • #26
  • Aug 12, 2006 8:26pm Aug 12, 2006 8:26pm
Quoting MoneyMa$ter
"Each trader's system conforms to the individual's preferences"
MM

I could not agree with you more. It is called taking personal responsibility for your business of trading. Never blame anyone else. What works for me will probably not work for you.

In general a systematic approach to trading can give us a basic foundation, but it is what I bring to my trade which will make me successful or not. This is not a selfish view, because I will help anyone anywhere. "There is more happiness in giving than receiving"

Others, like you MM, can give me something to test or think about but the end result rests on the fact that NO ONE CAN TRADE LIKE ME BUT ME. No system will ever take that out of the equation.

When we accept that fact, we will be on our way to trading successfully for ourselves.

No matter what broker we use, no matter what system we use, no matter who we listen to, I believe that when I accepted those facts I began trading successfully.

Probably the wrong forum for that, but I had to get it off my chest. I just hate it when others look for blame because they can't seem to get it done.

DC
"There is MORE Happiness in giving than receiving"
  • #27
  • Last Post: Aug 13, 2006 2:43pm Aug 13, 2006 2:43pm
Quoting drcole1
In general a systematic approach to trading can give us a basic foundation, but it is what I bring to my trade which will make me successful or not. This is not a selfish view, because I will help anyone anywhere. "There is more happiness in giving than receiving"

Others, like you MM, can give me something to test or think about but the end result rests on the fact that NO ONE CAN TRADE LIKE ME BUT ME. No system will ever take that out of the equation.

When we accept that fact, we will be on our way to trading successfully for ourselves.

No matter what broker we use, no matter what system we use, no matter who we listen to, I believe that when I accepted those facts I began trading successfully.

Probably the wrong forum for that, but I had to get it off my chest. I just hate it when others look for blame because they can't seem to get it done.

DC
And the church said...............AMEN!!!!!!

Which means "I agree", "so be it", "it is so"...for those who don't know.
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