Forex News Trading Plans for Week 49, Dec 1 – Dec 7 2013

[Wilsontom]

Thanks Peter, yes I understand. That makes sense. Cheers

 

[RussellBrown]

Hi, I am new to this, I am with IC markets true ECN account, I tried FNG on USA GDP 8:30am NY time (Thursday, December 5). It executed fast but the spike only went to about 102.280. yet the trade was purchased at 102.318 and I lost a ton of money. IC markets said this was slippage and not to trade the news, then sent me this video - Market News vs Market Behaviour (Audio from 02:23 minutes) on Vimeo

So I guess from what they say on that, trading the news is actually impossible? As the banks are the market makers and they hate news trading.

 

[ivaneis]

hallo thanks for the service I always slippage , which broker do you use? I've tried 16
regardsShift+R javÃ*tja ennek a képnek a minÅ‘ségét. Shift+A javÃ*tja az oldal összes képének minÅ‘ségét.
pozzobon ivan

 

[RussellBrown]

It is impossible to make money trading the news spike even with an ECN because the banks are the market makers, they cannot offset the news trades so they intentionally offer rediculous prices (slippage). Its just not possible, sorry.

 

[RussellBrown]

It only possible on demo accounts.

 

[RussellBrown]

I've tried 16

Did you try Dukascopy?
I guess the more liquidity the more chance you will get filled at a decent price, although I am amazed anyone can get filled at big news events

 

[niceniyi]

Good day to you, I am new how can I get FGN or DTS? Thank you

 

[RussellBrown]

Well I was going to trade a full lot on NFP this afternoon, but after that last news event (German manufacturing) was negative and the market spiked up, I think mini lots only from now on. Of course I will be kicking myself afterwards.

You can get FNG by typing to google "Forex News Gun" then clicking the down load link.

 

[RussellBrown]

Gold was the best trade during NFP today, did a lovely retrace as well.

Forex News Gun is brilliant, Peter does an amazing job, I just think my problem is maybe I have a slow internet connection? Also, I dont use a VPS and my brokers servers are in New York, I am in the UK. The one I got a really bad fill on was an Australian news release, maybe as its the other side of the world that is why? Still learning here.

 

[Peter O]

Hi Russell and everyone,

Thank you Russell for your research and opinion, indeed it's not easy to have a reliable system for news trading. That's a very good point that you need as small latency as possible and Europe is sometimes better, sometimes worse (I saw ping time varying between 15 and 150 ms and that's a big difference). Actually you can lower it if you come closer to New York. However, now we are in system optimization and hopefully I can tell all of you more about a better environment.

Peter