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Basic of the basics

  • #21
  • Oct 2, 2015 7:55am Oct 2, 2015 7:55am
Hey Guys! i'm just wondering why is my sell stop has been cancelled? although, i did not do it.. i was trading the US NFP Report.
is it OK to use pending orders when there are events like this in the market?
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uSuck
  • #22
  • Oct 5, 2015 5:25pm Oct 5, 2015 5:25pm
Quoting Robinroo
Hey Guys! i'm just wondering why is my sell stop has been cancelled? although, i did not do it.. i was trading the US NFP Report. is it OK to use pending orders when there are events like this in the market? {image}
Bro, It's possible due to margin or expiration at the time order trying to execute. Maybe your broker can provide you a better answer for this incident. And also take note of the spread widening during the move.
The only winner is the one who survive the longest...
  • #23
  • Oct 5, 2015 5:47pm Oct 5, 2015 5:47pm
Below is 1 of an example I traded the Non-Farm Employment Change using S/R, Demand/Supply back to equilibrium, while 83.40 was holding for a reversal.
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The only winner is the one who survive the longest...
  • #24
  • Oct 5, 2015 5:52pm Oct 5, 2015 5:52pm
Another example using S/R to take profit and entry.

[Edit] 5 mins chart
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The only winner is the one who survive the longest...
  • #25
  • Oct 6, 2015 1:32am Oct 6, 2015 1:32am
Quoting Robinroo
Hey Guys! i'm just wondering why is my sell stop has been cancelled? although, i did not do it.. i was trading the US NFP Report. is it OK to use pending orders when there are events like this in the market? {image}

Most probably you got offquotes. Its natural for trading on NFP price makes 10 and even more pip jumps for one change. Next time I'd suggest you to enter 1-2 min earlier but don't forget about setting decent SL to avoid whipsaws kicking you out of market.
  • #26
  • Oct 6, 2015 5:59am Oct 6, 2015 5:59am
Quoting leebsurag
{quote} Most probably you got offquotes. Its natural for trading on NFP price makes 10 and even more pip jumps for one change. Next time I'd suggest you to enter 1-2 min earlier but don't forget about setting decent SL to avoid whipsaws kicking you out of market.
Many Thanks! will try that..
uSuck
  • #27
  • Oct 6, 2015 6:03am Oct 6, 2015 6:03am
Quoting kinspk
{quote} Bro, It's possible due to margin or expiration at the time order trying to execute. Maybe your broker can provide you a better answer for this incident. And also take note of the spread widening during the move.
i already told the representative of the broker about this case.. he said i will have to wait until they resolve this problem. until now, i'm still waiting. but somehow, still making some strategy when to enter/exit trades on news events.
uSuck
  • #28
  • Oct 9, 2015 1:28am Oct 9, 2015 1:28am
Quoting kinspk
1. Gains from break are 10, 32 and 24 pips. Let's be conservative. We will take 10 pips as take profit, because it shown that 10 pips are sure hit out of the data we collected. 2. Loss from bounce are 23 pips. Let's be conservative again. We will take 10 pips as stop loss. So according to this examples, we will have the following results. 3 trades of hitting 10 pips TP == 30 pips profit 1 trade that move 23 pips == 10 pips loss Result == Net 20 pips profit Winning Rate == 75% If you have a higher risk tolerance, you can set 25 pips SL, and you have...
You would need to check m1 to know for sure if those stop loss were breached or not... you need to look at more than one chart to back test this.
  • #29
  • Oct 9, 2015 1:30am Oct 9, 2015 1:30am
Quoting NaughtyPip
{quote} You would need to check m1 to know for sure if those stop loss were breached or not... you need to look at more than one chart to back test this.
Yes. Lot of stuff to do even it's a simple test.
The only winner is the one who survive the longest...
  • #30
  • Oct 9, 2015 8:10pm Oct 9, 2015 8:10pm
This is great information, but here is some more that I think will be helpful to some people. There are thousands of Forex trading strategies that are profitable, but every single one of them that really works is based on one rule only: you can make money by buying in an uptrend, and selling in a downtrend. There is no need to complicate things once you understand the simplicity of an effective Forex trading system. Top Forex brokers will not care whether you trade on-trend or against it, since they don't bet against you, but you should. I trade 5-minute charts on the best Forex trading platform available today to a retail trader, and out of the enormous diversity of indicators, I only use simple moving averages. I use charting to spot ongoing trend and assess its strength. It gets easier on the eye with experience. I let the trend settle and pick up steam, and then enter a trade on a pullback. I get out when I feel that the trend is quieting down, and don't worry about not making that high. Stability is more important to me
  • #31
  • May 11, 2016 11:48pm May 11, 2016 11:48pm
https://www.youtube.com/playlist?lis...sqnYKbQvGF0wS-
  • #32
  • Jun 2, 2016 6:02am Jun 2, 2016 6:02am
Why do all these Economic calendars seem to be the same? Does it matter which one I use?
  • #33
  • Jun 18, 2016 2:49pm Jun 18, 2016 2:49pm
Quoting Pipslap2012
Why do all these Economic calendars seem to be the same? Does it matter which one I use?
https://en.wikipedia.org/wiki/Economic_calendar

If it seems the same to you, then maybe doesn't matter what you use. You need to figure out if what you use are what you need.
The only winner is the one who survive the longest...
  • #34
  • Jun 20, 2016 3:07am Jun 20, 2016 3:07am
I personally think that ForexFactory calendar is the best one
  • #35
  • Jun 21, 2016 8:01pm Jun 21, 2016 8:01pm
Good information for a beginner like me
  • #36
  • Aug 6, 2020 5:42am Aug 6, 2020 5:42am
If you are new in this market, you have to know all the basics of forex. Without knowing the basics of forex you can not survive in the market for long.
  • #37
  • Aug 7, 2020 9:42pm Aug 7, 2020 9:42pm
Quoting kinspk
I realized some traders after learning some basics from babypips, still do not know how to trade the basic because the internet doesn't show you the reality of the market movement, as internet always show you the perfect scenario where this is not the case. I will just show some simple examples of how you can make use of the available data to form a basic trading plan, without using any profound mathematical terms or statistical knowledge. I will start with support and resistance. Support/Resistance To make things easier and save some time, I will...

Couldn't agree more, after so much trial and error I finally realized basics is the best way.
  • #38
  • Aug 8, 2020 8:06am Aug 8, 2020 8:06am
Quoting ForexSigs
{quote} Couldn't agree more, after so much trial and error I finally realized basics is the best way.
I think a lot of people end up doing that. Myself included.
  • #39
  • Last Post: Aug 8, 2020 9:17am Aug 8, 2020 9:17am
Quoting mlawson71
{quote} I think a lot of people end up doing that. Myself included.
It's actually pretty crazy how we sometimes think it has to be extravagant or complicated to work. I wish I could go back in time .
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