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Just successfully traded my first news spike.

Discussion in 'Beginners Bootcamp' started by HamishC, Oct 2, 2012.

  1. Pharaoh

    Pharaoh Colonel

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    A bad broker will say and do anything to move profits from your pocket to the broker's pocket.

    With a broker that's not cheating, you need to test the broker carefully with the smallest possible lot sizes. The better the broker's liquidity, the narrower any price gaps will be. Turn on "show ask line", go to the one minute chart (or just head straight to the tic chart) and just watch price action around some news releases a few times before placing any money with a broker.
     
  2. Rambo35

    Rambo35 Corporal

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    That's true for after the release, but my point was that you can't predict the actual figure and need to react after the release.
     
  3. Pharaoh

    Pharaoh Colonel

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    Pending straddle orders can be placed before the release.

    There are also software packages designed to get that data to you very quickly and click either buy or sell (or no trade) based on how the numbers come out.

    Check out Forex News Gun here at the FPA. Naturally, try it on demo and carefully question a broker's spike trading policies before trying it with minimal money on a live account.
     

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