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still going closed some,  moved SL's to B/E  +pips setting TS to 10-20 pips on each.  donmme for the day at last!

Fri, 09/02/2016 - 12:24pm

here is the EURO/ACCT all the stats from the start.
LOOK at the total EUR/USD trades won compared to the number lost
there are other trades on this accoun buit mostly EUR/USD


as you can see this is a relatively good equity curve even thoiugh the average winning trades to average losing trades is wacked.




Well done Elijah.
So far, for me, every time I have tried trading during NFP it has been a total wipe out. For now I am staying away from it.


Kenn understand the price action, during which entry is most important and must really be done as a pending order, a limit or stop, with a TPT set and a SL even if it is 100 pips away, then look to close at market, hardest thing is patience, but this EUR/USD trade was a set it and forget it, all entires exits SL's an d targets set and left, walked away, here is a secret to news trading to make it work, enter one order long 10 pips above price with a tpt of 25 and a SL of 100, and another 10 pips below price, enter both as stops, meaning price has to go your direction and break lower into your entry trveling in the direction you want it to move, its unlikely boith will fill, but they might, either way hedge is ok! wait! dont close order! its a 75% chance that one of those orders will hit 25 tpt before 100 and if one hits 25 then its going to be 45 pips away from the other order, and you can canmcel it, or you could actually have both fill and hitr their 25 pip target BEFORE either hits 100. Jeff doesnt use stops in news trading which I dont like to do, even if the stop is 100 pips thats usually better than getting stopped out by mr risk.

but think about it, no matter what the chances of hitting 25 pips one way as opposed to 100 the other was is MUCH more likely EVEN if you get the direction wrong!


Thank you Elijah. Such great advice on stops and take profit targets. Not sure I can experiment with this yet. I am working on Silver 2 where I can't lose more than 20 pips on a trade. But good to remember when I get to next level.


I expect EUR/USD to go down now, as long as it stays below this 50% line, see chart I remain bearish now support aT 110.00/.50 AND REALLY TO FLIP BULLISH i GOTTA SEEE MIN 113.00/.50


Patty typically your exit is more important than your entry as this is the order that secures a loss or profit and must be focused on to improve results in the long haul.

but with a news trade with wider spreads and typically huge volatility with significant deviations from what is expected on news releases, requires a decent entry which often cannot be obtained without a pending order. closing at market is fine if you have fast fingers, but for orders enetered a head of time, and I dont care if they fill early, which often times means news was leaked or someone knows something. watch PA closely before the news release and I say have orders going both ways it only makes sense as often its hard to see the news release and get your order in and get a good entry at market when price is moving at super speed.


What is your normal strategy if you are not trading the news?