Forex News Trading Plans for Week 3, Jan 12 – Jan 18 2014

[Peter O]

I think the secret to making money from this is to use the news event as the entry point for a 8-9 hour trade instead of just doing the spike alone, because NFP and that last USD/AUD never retraced but just kept going.

Yes, some similar trade plan came into my mind a while ago. I hope I'll have enough time to do the research and start out with a new profitable trade plan soon. Please share your plan with us if you think whenever you have something concrete.

 

[RussellBrown]

I was initially just doing the spike, then waiting for a retrace back to a resistance level then getting in again for the trend, but I am going to try and use the initial spike as the entry for the new trend, it should work very well based on checking previous charts and it minimizes the risk. As long as I only do big deviations/surprises. I will let you know how I get on in a few weeks.

I was also doing retraces after the intial spike but got badly burned on that the Aussie unemployment figures as when it looked like to was retracing it plummeted again. Its just too risky unless I can find a good EA to help.

 

[RussellBrown]

they always slip me 40 points on the high impact news events, even if the news does not spike that much, as long as I only do the ones that spike more than 40 points then I am ok. I used to do less of a deviation but kept getting slippped above the spike. I might try that pepperstone razor ecn, they are supposed to have better liquidity that ICM.

 

[jvp999]

The currency strength calculator does not update at all... e.g. Today is 17th Jan 2014 and I want to see from 15th TO 16th Jan 2014

but it always come up with zero percent on all 8 currencies. Whats going on. And can you tell me in GMT what time it updates DAILY

which I know it does not.

Jitendra.