When news is coming, i wanna set pending buystop and sellstop above and bellow market price to take big move by news!
how about you?
Great survey. Here are my personal feelings. I wrote the following earlier in the month:
Thu Feb 7. Trade what you see.
After the EUR rate was announced today, Draghi's comments made the EUR
plummet. Choose the right way to trade a news release:
(1) You have a
strong feeling about the outcome and you place a trade right before the
(2) You are prepared with historical market reactions to the
news, giving you a big edge, and you trade immediately after the
(3) You might miss the big payoff, but you wait anyway and
trade the response to the data.
(1) NO !!! Entering
before the news is insane and you will soon die a horrible FX death.
NO. Statistically this may be a winning strategy, but you don't know
what the market will do this time. Unless you have deep pockets,
this is still flirting with death.
(3) YES. Be flat before big news
releases and nimbly respond to the action with a small position and you
will go far. Say it out loud . . . "I only trade what I see."
These comments are just my personal opinion of course- fortunes have been made on news releases. But I think that prudence has got to be the name of the game. Even straddles can be spiked out (unless no stops are used). Hedging certainly takes away some of the potential for pain, but many FX traders can't implement it because of the NFA regs.
Yes I do
how many percentage trading with news time successful profit earn ?