millions of people use this strategy
millions of people cannot afford monthly payments for infrastructure and for news agency low latency feeds. you can contact Bloomberg for example and investigate how much their low latency feed with macroeconomic events cost. and now there are no public services where you can get it with a great discount as it was few years ago. I bet you do not have friends who are still paying 10-50k per month for such infrastructure. I enter the trades after receiving fast data and before market moves, not after it started moving. That is the difference with your friends
And as far as I understand, all the companies in which you trade earlier allow trading on the news, and nevertheless you were blocked by 12 brokers, so is it a conspiracy of all 12 companies against you?
All of the companies, I have ever opened accounts, and there are more than 500 for today, and near 100 active are allowing news trading. Even near 10% of them have tried to scam me in some way, even very famous and regulated - order cancelling, spread manipulation, various pluigins and so on. I was blocked by more than 12 companies, some are already bankrupt, some dissapeared with client funds, some have returned my profits after public presure or detailed investigation with their dealing or top management or regulator prescription. BTW you can try to open account with any of these scammers yorself and try to earn and withdraw some significant ammount with ANY trading strategie. You would be banned. The majority of them would not even withdraw your deposit now.
Your next question would be, why I dont trade on CME or any big ECN as Currenex or Integral. I also trade there, but the profitability is much smaller then with retail brokers, and CME wouldn't give you 1-500 leverage and you would not get up to 30% profit for 10 seconds for 1 trade. The reason is very simply - no one on forex want to lose money. 99% of retail traders are losing without help of broker, so some brokers are ok when 1% is earning something. In large ECN half of the "givers" just stop providing their liquidity to profitable "takers", so your fills would become much worser with time.
Unfortunately, due to my location, I cannot open accounts in regulated entities such as UK or AU and cannot use my old accounts there, so sometimes I have to fight with such offshore bucketshops like Justforex
If you still have account with Justforex, run out of there! That a free advice for you
There
can be only 2 reasons they have canceled 3 years trading results:
1. they haven't routed me from market maker to stp for 3 years because they simply do not have LP. It means you can earn nothing there with any trading strategy. They are 100% market maker
2. they have a lack of funds now and plan to go bankrupt
All other ways they would start a discussion, providing proofs and debating in some way. They simply got nothing to say.
So every trader with a brain would withdraw now
Any other questions, to "such a forum member like me", Sirajuddin?