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Thread: News Trading

  1. #11

    Default US GDP

    US GDP soon coming up (5 minutes).

    Trigger: 0.6

    Currency Pair: EUR/JPY
    Regards / JoLi

  2. #12
    Member Far East Man's Avatar
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    Hi JoLi,

    Trigger hasn't been met, but UJ moved a bit and started to retrace. Will you enter short on 50% fib or just pass it this time?

  3. #13

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    Quote Originally Posted by Far East Man View Post
    Hi JoLi,

    Trigger hasn't been met, but UJ moved a bit and started to retrace. Will you enter short on 50% fib or just pass it this time?
    Simple answer: No.

    At least i don't work like that. The reason is that i believe that if the market moves without that the trigger is meet it's because we have insecurity while if the trigger is meet and the market moves we have security of the direction.
    To enter if the trigger isn't meet is more like tossing a coin then trading.

    Don't chance Far East Man. You will have plenty of oppurtunities with this method anyway.

    I will try to post my triggers little bit erlier next time.

    Next release i will look out for will be ISM Manufaturing at monday.
    Regards / JoLi

  4. #14
    Member Far East Man's Avatar
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    Thanks, JoLi,

    Wise idea! Ok, I'll be ready at ISM if I'm not too busy at that time.

  5. #15

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    Quote Originally Posted by Far East Man View Post
    Thanks, JoLi,

    Wise idea! Ok, I'll be ready at ISM if I'm not too busy at that time.
    I just noticed that next week will be a great week for news trading. I think we will have a great oppurtunity at following releases (i will try to post triggers etc for every one of them. If i have the time for it).

    Monday: USD - ISM Manufaturing
    Thuseday: AUD - Rate Decision
    Friday: CAD - Employment Change and the USD - NFP

    Perheps i will trade some others as well. If so i will post it.
    Last edited by jolimoney; 04-30-2010 at 15:19.
    Regards / JoLi

  6. #16
    Member Far East Man's Avatar
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    Default

    I'm looking forward to those events. Maybe we can open PalTalk chat room so that we can communicate in a timely manner. Also, subscribing to NEWS IMPACT may help getting right deviations.

  7. #17

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    Quote Originally Posted by Far East Man View Post
    I'm looking forward to those events. Maybe we can open PalTalk chat room so that we can communicate in a timely manner. Also, subscribing to NEWS IMPACT may help getting right deviations.
    Yes we could do that. Great idea.

    And the Newsimpact.com.... i have never seen it before but it looks perfect for news traders. How did you find them?
    Regards / JoLi

  8. #18
    Member Far East Man's Avatar
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    Default

    I had two stages of spike trading experiences. At the first stage, I was subscribing to one of a few autoclick service, and was fully dependent on the service including deviation numbers and historical data. At the second stage, I had used straddle EA. During the second stage I needed to see the deviation in order to grasp how far the price could possibly move. Even without historical data, NFP, CAD Emp, and UK Retail were fantastic movers for straddle EA, so I mostly traded those events only. However, just to grasp how far it can go, I wanted to get data. And I found this service at that time. Their data is pretty much reliable and very useful. Also, they cover very wide range of events. Probably the best spike data provider. I can't remember how I found it. I just encountered it accidentally.

    For those of you who never tried spike trading, I can pretty much tell both autoclick and straddle EA don't work today. Believe me, those are dead.

    But your method is new to me, JoLi. Let's see how or where it takes us.

  9. #19

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    Quote Originally Posted by Far East Man View Post
    I had two stages of spike trading experiences. At the first stage, I was subscribing to one of a few autoclick service, and was fully dependent on the service including deviation numbers and historical data. At the second stage, I had used straddle EA. During the second stage I needed to see the deviation in order to grasp how far the price could possibly move. Even without historical data, NFP, CAD Emp, and UK Retail were fantastic movers for straddle EA, so I mostly traded those events only. However, just to grasp how far it can go, I wanted to get data. And I found this service at that time. Their data is pretty much reliable and very useful. Also, they cover very wide range of events. Probably the best spike data provider. I can't remember how I found it. I just encountered it accidentally.

    For those of you who never tried spike trading, I can pretty much tell both autoclick and straddle EA don't work today. Believe me, those are dead.

    But your method is new to me, JoLi. Let's see how or where it takes us.
    I see. Well i am just about to sign up :-) Thank you for the tip.

    And about your "warning" about Spike-trading: I couldn't say it better my self. People.... don't try spike trading as it is right now. It might come a day again when spike trading will be profitable... until then we need to take advantage of the market in other ways.
    Regards / JoLi

  10. #20
    Member Far East Man's Avatar
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    Default Calculation Sheet

    Thanks to JoLi, I have created my version of Excel sheet to help calculate entry levels, SL, and lot size. I'm not confident about spread sheet configuration, and there may be some mistakes in there. So please feel free to make a modification as you like. Also, I've created it on xlsx then converted it to xls. So I'm not really sure that some of the functions could work fine or not.

    There are 4 tabs.

    Long Cross is for long trades on YEN cross pairs.
    Long Major is for long trades on Major pairs.
    Short Cross is for short trades on YEN cross pairs.
    Short Major is for short trades on Major pairs.

    If your broker is not 5 digits, then adjust the decimal settings.

    Instructions:
    1. Enter the pip value of your account ($10 for standard, $1 for mini, $0.1 for micro account)
    2. Enter risk% you are comfortable with.
    3. Enter Fib levels of your choice

    Before you trade....
    4. Enter current account balance.

    Once price started retracing from the spike high/low...
    5. Enter pre-spike price
    6. Enter spike high/low
    7. For short trades only, enter the spread of the pair you trade with.
    (above input levels will automatically calculates entry prices, SL, and lot size)

    Now, place a market order or set buy/sell limit orders according to the following info.
    8. Place first entry with given lot size.
    9. Place second entry with given lot size.

    Once the price is back to the spike peak...
    10. Move your stop loss level to the break even point.
    (I'm not sure if I configured this part right or not. If wrong, then adjust it as you like)

    You can use Trade Log tab if you like, but automatic stats are available online. So this may not be needed.

    Good luck.
    Attached Files Attached Files

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