Nina for that you need really good and fast news service like bloomberg feed
that is the only way to trade forex profitable,everything else is waist of time and money
systems,money management..indicators....bunch of shit for 95 % of traders
Right. You need a good news feed like Bloomberg. But just make a test on demo when we have important news (red folder on ¨Forexfactory", for instance). You even do not need a news feed. Of course it is better to have one, but when the news is out, in one second you are more than 10 pips up or down to be conservative. Do a test.
And you are right too, when you say all the rest is not needed. There are a lot of people that only trade one day per month. Do you guess which is that day?
PS: But, anyway, this is not CatFX50.
don't even think about NFP lol
problem with news trading is speculativ play before the news....but like you say it is not for this thread
i plan on making lots of pips with the next nfp
Tricky NFP release reaction was at 07.04.06 when price jumped one direction (up) for 37 points and then fall for another 120 pips.
Btw was it clear level 1 long signal on eur/usd at 15:00 (14:30 close bar) ?
According to my understanding of the system, it was clear signal tho no signal on cable and swiss yet. We have important news out in 20 mins, thinking of placing stop loss tighter then standard (-37). On other side we might have bounce like we had yesterday. What are you thoughts, mates?
Definately Level 1 though close to news and not much push.
Level 1 buy on eurusd was at 1,2592 (15:00cet). Made a high so far at 1.2602.
As you say, we have in 15M US data. Protect. I do not like this market so far.
We have no direction and they can take us up or down without any thinking.
Alright, thanks for sharing your thoughts.
I will stay open with tight stop loss, I think risk for breaking higher is pretty high. I would have to place level 4 breakout order at 2621 anyways, so I prefer to stay at current position and being ready for small stop loss.
We have two kind of data:
Consumer Confidence and Home sales.
One of them could call a short and one of them could call a long.......
I think news that Iran rejected negotiations with USA outcome any economical data today, Im still on long but with standard stop loss (-37) now after release.
I agree it is dangerous position specially after slightly better then expected news release, but I would stick to standard rules in this situation.
P.S. - hows going beta testing with catfx15 so far?
Thank you, with respect,