Quote:
Originally Posted by Teresa
Interesting, George. I've read a lot about after-the-spike trading, but it looking at the charts it seems the movement happens so quickly that it's often over by the end of one 5-minute bar. You don't even see the spike until the bar has closed. I guess you really need to use 1-minute bars for news trading (?). It's encouraging to know that you are doing well.
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ANYBODY??? (You too Pharoah!!)
Please look at the chart of the 'Pound', CME Futures. It is a 5 min chart showing the price action around 15:30 (afternoon in Sunny Kyiv), the NEWS bar opened at its low of 1.9710 and hit 1.9749 after :
15:30 Unemployment Claims
407 366 366 369
For the next half hour ANYONE could of digested this news and gotten in
for a nice ride (as low as 1.9726) all the way to the 1.9860's!!!
At $6.25 per tick (pip for ya FOREX'ers) thats over $800 bucks and you can contol 1 lot (contract) for as little as $300 with some brokers.
Did I take this trade? NO! I trade early in the day with the Frankfurt and then London openings and by this time I had made my $$ and was in a nice cafe drinking 'pivo & vodka' with 2 very nice 'dyvushkas'!!
O Z in "going to hell when I die 'cuz I am living in HEAVEN now" Land !!