Forex Peace Army Members Forums>

[Pharaoh]

Originally Posted by OzWizard

1) Look again at the chart, you would enter this market AFTER the news,
after YOU digest it and determine..... Of course this includes your RISK level.... why do you say it WOULD be an $800 loss??

Stoploss is a good thing in spot forex also. However, you can't set your stop 3 pips (or whatever you use as the equivalent in forex futures) and expect not to get killed by market volatility.

Spot forex allows trading at a MUCH smaller level, so that far less is risked with the same stoploss. It also allows traders to get into the market with a smaller amount if initial cash.

BTW - I'm sure there are PLENTY of futures traders who also lose all their money. All of those statistics about the percentage of forex traders going bust apply equally well to all the other markets for leveraged trading, both of money as well as other commodities.

[OzWizard]

Originally Posted by Pharaoh

Stoploss is a good thing in spot forex also. However, you can't set your stop 3 pips (or whatever you use as the equivalent in forex futures) ............

......... its all the same!!!

WHERE DID YOU COME UP WITH 3 AS A STOP?? Crazy!!

[kca$h]

hello khalihgs ,
m/m means month and y/y means years

[Pharaoh]

Originally Posted by OzWizard

......... its all the same!!!

WHERE DID YOU COME UP WITH 3 AS A STOP?? Crazy!!

Just an exaggerated example - one MUST risk some money to have a chance of making a profit.

Either way, the smaller amounts available to trade with some forex brokers will result in smaller losses for beginning traders if the stoplosses are exactly the same as used in futures.

[Teresa]

Well Oz, as a matter of fact, I am thinking of opening a futures account. There's just too much flimflam with forex brokers, and MB trading doesn't offer charts.

But I wonder about a couple of things with futures if you're a news trader:

1) A lot of the news releases occur in the after-hours time zone of the CME (US futures exchange.) So does that make it harder to get filled, or to get filled near the price you want? Do you basically need to stick to the regular session hours? For the US, that's 8:20 a.m. to 3 p.m. East Coast Time.

2) If you want to enter before the spike, I wonder if the auto-clicker services would work with futures.

Anybody know?

Best,
Teresa

[OzWizard]

Originally Posted by Teresa

Well Oz, as a matter of fact, I think you're just wonderful.... But I wonder about a couple of things with futures if you're a news trader:.....

Yes, NO, Maybe.....

I do trade some news, and actually ONE always trades it with my system as I am usually in a trade with the Pound & Euro before news events!

Look at the chart of the pound from the 8th, this chart is set to my time (Kyiv) so it is 7 hours ahead of NY! I think it will answer your question.

I don't use any software to enter trades.

I will try to look at some news from other markets and show you a chart.

OZ in 'always happy to HELP a "dyvushka" ' Land

[OzWizard]

....... the GER reports came out a little positive....

I was feeling a little RISKIER as its Friday and I have had a good week!!

I only traded 1 lot each - POUND, EURO ($6.50 & $12.50 / PIP)

Not bad for 9:00 on a sunny Kyiv day...

Now its off to City center to chase (WHOOPS look) Skirts!!!

Gotta luv LIFE!!

O Z

PS I was using a stop in the POUND @. 40, filled at . 42 NOT BAD!!!

[mahendra]

going with the market news is quite decent for short run but plz dont even think for long run. fundamentals and technicals r very imp for long run.

[dr green]

Originally Posted by george soros

Made 20 pips on that move using my newly opened account with MB Trading after having been advised to use them by Felix. Still trying to find a decent one-click interface for the platform as the Quote Trader doesn't appear to be working as promised.
I'm looking for something like Button Trader, so if anyone knows of a good trading/charting interface that works with MB I'd like to hear about it.

hey soros!
i just got the snw but dont knw hw to connect it to my broker so it can auto trade for me.since i wanna aviod slippage.also hw do i get linked to felix chat room.
thnx n happy trading!

[RICHARD DELAGE]

Originally Posted by keitsuke

I found the news releases on the trading platform I was using was always delayed by 1-2 sec. I contacted the broker and they obviously denied any tampering of the timing of the releases.
I've since used a trial of "Trade The News" software and found it to be pretty good, but my trades at the moment are too small to warrant a paid monthly subscription.

COULD YOU TELL ME THE NMAE OF THE NEWS RELEASE SOFTWARE YOU WE'RE USING.
THANKS