19 pips.. USD Durable Goods Orders report came out WAY better than expected.. 2.3% when forecast was 0.5% 
Next up, new home sales
Next up, new home sales
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- Thread starter Music_Producer
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I bagged 18 pip on Core durable goods. Could have bagged 29 pips instead.
here is a screenshot of it. It was stopped by a Take Profit.
How did you guys do?
btw, Music_Producer, do you mind me asking what is the magnitude of money inside your account? Don't have to give the exact number..
See you guys later.
here is a screenshot of it. It was stopped by a Take Profit.
How did you guys do?
btw, Music_Producer, do you mind me asking what is the magnitude of money inside your account? Don't have to give the exact number..
See you guys later.
Attachments
Yuhu, I have about $20-30,000 in my account at any time.. if there is an interest rate trade coming up in a few days.. I add more money so I can trade a huge lot. That trade only happens something like once a year, but it's a good 80-120 pip profit.
I'm quite poor compared to other traders I just choose not to put all my money into a trading account.. there are some people who sell their house and then put all their money in an account, and go short/long hoping to make a profit. Doesn't work.
Btw, nice trade! What was the spread on Oanda for this report? From the screenshot it doesn't look like they increased it to a monstrous amount. I could have made more pips as well .. but for some reason I thought my trade didn't go through.. because my P/L section stayed at 0.00 for some time. I must have wasted a good 6-9 seconds to see if my trade did go through.. lucky it didn't reverse
I'm quite poor compared to other traders
I just choose not to put all my money into a trading account.. there are some people who sell their house and then put all their money in an account, and go short/long hoping to make a profit. Doesn't work.Btw, nice trade! What was the spread on Oanda for this report? From the screenshot it doesn't look like they increased it to a monstrous amount. I could have made more pips as well .. but for some reason I thought my trade didn't go through.. because my P/L section stayed at 0.00 for some time. I must have wasted a good 6-9 seconds to see if my trade did go through.. lucky it didn't reverse
damnit I lost 5 pips because CMC gave me a requote and as soon as I noticed the window was yellow it executed the requote and I KNOW I didn't click that button.
Music_Producer, do you have yours set up for the "one click" thing or do you use two clicks? Im thinking either its a glitch in the software or somewhere my account settings arent right.
Any input on why that might have happened?
I lost 5 pips because CMC gave me a requote and as soon as I noticed the window was yellow it executed the requote and I KNOW I didn't click that button.Music_Producer, do you have yours set up for the "one click" thing or do you use two clicks? Im thinking either its a glitch in the software or somewhere my account settings arent right.
Any input on why that might have happened?
Nathan, i always set it to 'one click' Here is what i do
When i hit 'buy' or 'sell'
I immediately look at the 'executed orders' section.. if nothing shows up, then i know i'm getting a re-quote.. and surely, the yellow window pops up, and i hit 'cancel' or it just expires on its own. You sure you didn't click anything that might have accepted that re-quote?
When i hit 'buy' or 'sell'
I immediately look at the 'executed orders' section.. if nothing shows up, then i know i'm getting a re-quote.. and surely, the yellow window pops up, and i hit 'cancel' or it just expires on its own. You sure you didn't click anything that might have accepted that re-quote?
Same thing happened on new home sales. lost 3 pips(l got out where I got in so I lost the spread). When you click buy or sell does it flash yellow for a split second before it goes green?
If it does then Im just slow, but if not then its automatically executing my requotes and I am 100% sure I didnt click anyhting.
It might be that Im just slow because Im still getting used to this software. This was my set up this morning...
I think Im trying to pay attention to too much at once and its slowing me down. So, Im going to try this set up next week...
What's the fastest in your opinon? Im thinking if I eliminate the oanda chart and the text news, I can act faster.
One other thing I forgot to post-last week when my audio trial was over with ttn they said if I choose to upgrade they could get me in at $123/month instead of $175 so I did it...thats $50 cheaper. So, I guess it was worth it to ask them for that trial because otherwise I would be paying $175
If it does then Im just slow, but if not then its automatically executing my requotes and I am 100% sure I didnt click anyhting.
It might be that Im just slow because Im still getting used to this software. This was my set up this morning...
I think Im trying to pay attention to too much at once and its slowing me down. So, Im going to try this set up next week...
What's the fastest in your opinon? Im thinking if I eliminate the oanda chart and the text news, I can act faster.
One other thing I forgot to post-last week when my audio trial was over with ttn they said if I choose to upgrade they could get me in at $123/month instead of $175 so I did it...thats $50 cheaper. So, I guess it was worth it to ask them for that trial because otherwise I would be paying $175
Btw, nice trade! What was the spread on Oanda for this report? From the screenshot it doesn't look like they increased it to a monstrous amount. I could have made more pips as well .. but for some reason I thought my trade didn't go through.. because my P/L section stayed at 0.00 for some time. I must have wasted a good 6-9 seconds to see if my trade did go through.. lucky it didn't reverse
I didnt really noticed the spread as i was too nervous looking at the chart.
But after i closed my position, i noticed that the spread stayed the same at 1.8
I close my position in a matter of seconds (like 3 seconds) so perhaps the spread didnot move at all, but this is all in my game account.
Did you guys trade on New Home Sales? I overslept through that one.
Yuhu.. Oanda game accounts are different. The spreads remain at 1-2. So you would have gone in a loss had you traded with a real account. I just checked the spread at that time, and it was 20 pips. You would be -2 pips loss.
Nathan, I don't recall if the window flashes yellow when i hit buy or sell because i look at the executed order section rightaway. Are you using the cmc demo account or real account? And I don't use any charts. Too distracting for me, I just concentrate on the TTN audio. As I mentioned earlier, it takes a lot of practice to get ready to hear the audio and press buy or sell.
Yuhu, i couldn't execute my trade on the home sales. got a re-quote. I did have a feeling though that GBP is going to rebound after going down because its friday and everyone does profit-taking.. and it went up by 30 pips.
Nathan, I don't recall if the window flashes yellow when i hit buy or sell because i look at the executed order section rightaway. Are you using the cmc demo account or real account? And I don't use any charts. Too distracting for me, I just concentrate on the TTN audio. As I mentioned earlier, it takes a lot of practice to get ready to hear the audio and press buy or sell.
Yuhu, i couldn't execute my trade on the home sales. got a re-quote. I did have a feeling though that GBP is going to rebound after going down because its friday and everyone does profit-taking.. and it went up by 30 pips.
I dont have to have the time window open but it helps because I watch it with my periphereal vision(I know I spelled that wrong. MP, your the doctor, how do you spell it?) and I know exactly when he will call the #s(most of the time). Ive tried it without it and I get "surprised" everytime and it slows me down.
Ive been using TTN since the the first of december. Their audio news is ten times better than oanda, IMHO.
I was using my real account, but only $1/pip...but still thats why Im so mad about it. I think I just need to clean up the windows and work on my speed.
Ive noticed that the oanda chart moves a second after the CMC ticker, so its really pointless having it open except for the visual reference.
Yuhu, i couldn't execute my trade on the home sales. got a re-quote. I did have a feeling though that GBP is going to rebound after going down because its friday and everyone does profit-taking.. and it went up by 30 pips.
Are you mad because you didnt trade the upswing or am I missing something?
Peripheral.. you don't have to be a doctor to spell that
Btw, nathan.. i see that you're missing one window.. the spot/fx position window .. that tells you your profit/loss section. Keep the entire cmc platform open i.e. everything.. there is a time clock on the bottom of the window.. and it's pretty accurate. I get trigger-ready when its one second before an announcement.I was mad because I didn't trade the upswing.. as I predicted it would happen. Its ok though, it could have gone the other way and ruined my profits for the day. I still need to learn to apply a little more self-control!
Peripheral.. you don't have to be a doctor to spell that
I was mad because I didn't trade the upswing.. as I predicted it would happen. Its ok though, it could have gone the other way and ruined my profits for the day. I still need to learn to apply a little more self-control!
OK, I was only off by one "e"
. Yeah, Im trying to figure out a window set up that I feel comfortable with. Since I switched from oanda I feel like everytime I click buy or sell, Im closing my eyes and hoping I dont crash. I guess thats because Im a really visual person and with oanda I felt like I knew what I was doing because it was drawn out right before me.
But, then I realized on the CMC order window, "hey...nathan, those numbers there on the window...yeah, thats the price of the currency, idiot. It moves up and down just like the oanda chart"
So, Im getting used to it but I will keep the entire platform up and see how it goes.
Next week is big!(not that big, but lots of trades crammed into 3 days) Cant wait!
Yuhu.. Oanda game accounts are different. The spreads remain at 1-2. So you would have gone in a loss had you traded with a real account. I just checked the spread at that time, and it was 20 pips. You would be -2 pips loss.
Yuhu, i couldn't execute my trade on the home sales. got a re-quote. I did have a feeling though that GBP is going to rebound after going down because its friday and everyone does profit-taking.. and it went up by 30 pips.
MP, perhaps i miss this, so are you using CMC or Oanda right now?
Damn.. 20 pip spread is bad...
I am going to open CMC demo account soon. Thank you for letting me know about Oanda's spread. I was already going to open a real account with them, but since the spread is like that, i am going to wait and switch to CMC.
Then you didn't read all 35 pages you liar.. or you would have known about Oanda's spreads
I use CMC for news trades, but like I said earlier.. they're kinda getting worse with their re-quotes. It's getting much harder to get in on the spike.. I'm thinking of 'fading the spike'
That's when the currency jumps 30 pips or whatever, and you trade in the opposite direction once that spike is out of steam. Very risky of course, but works for most people. I'll try doing that with a very tiny lot, and see how that works for me. The good thing is that you have a little more time to decide whether to hit buy or sell, and you also don't need to subscribe to any news service.. you simply see the chart and trade.
This is obviously not recommended for very significant reports like interest rate decisions, etc.. but for majority of reports, most traders do 'fade' the spike and they seem to be successful.
I did read all the 35 pages
And i knew about Oanda's spread, and i thought that i read the reduced the spread back to normal?
So, do i still go with Oanda or CMC? What do you think?
I was thinking of going with Oanda, but small amount, perhaps $100 or $200.
And i knew about Oanda's spread, and i thought that i read the reduced the spread back to normal?
So, do i still go with Oanda or CMC? What do you think?
I was thinking of going with Oanda, but small amount, perhaps $100 or $200.
yuhu, I would go with CMC. The requotes suck(according to MP, I have yet to experience one) but I would rather get a requote and not be able to trade than to have my entire profit and then some eaten by oanda's spread.
I switched to CMC a week or two ago because of that.
The only downside is the $2k minimum deposit.
If you cant afford it, you can try and trade the foreign reports on oanda because the spread usually isnt as bad on those.
About "fading", Im going to watch this week and see if it would be possible to do that. I just got through watching NZD building consents and it was a minor report so I didn't trade but if I would have "faded" that one, I would have made more than if I traded the spike...so Im definitely going to watch the other reports.
I switched to CMC a week or two ago because of that.
The only downside is the $2k minimum deposit.
If you cant afford it, you can try and trade the foreign reports on oanda because the spread usually isnt as bad on those.
About "fading", Im going to watch this week and see if it would be possible to do that. I just got through watching NZD building consents and it was a minor report so I didn't trade but if I would have "faded" that one, I would have made more than if I traded the spike...so Im definitely going to watch the other reports.
I agree with nathan, cmc has a minimum deposit of $2k.. and one more thing, the minimum trading size is 10,000 units. Oanda gives you the ability to trade even 1 unit (no one would want to, but its nice to have that flexibility) So with cmc you start trading rightaway with $ 1 per pip (approx.)
I would stick with oanda for high-probability trades, such as interest rate decisions or non-farm payroll reports, because they execute, and the moves are usually 50 pips + Smaller reports, I tend to trade with cmc. Nathan, you might not be getting re-quotes yet, but when your trading lot size becomes bigger.. they might surprise you with re-quotes all the time.
CMC's a good platform, it might take a little while getting used to the layout.
I would stick with oanda for high-probability trades, such as interest rate decisions or non-farm payroll reports, because they execute, and the moves are usually 50 pips + Smaller reports, I tend to trade with cmc. Nathan, you might not be getting re-quotes yet, but when your trading lot size becomes bigger.. they might surprise you with re-quotes all the time.
CMC's a good platform, it might take a little while getting used to the layout.
ADP trade was ok.. bagged 5 pips.. but GDP trade was a nice 24 pips. I believe GBP/USD has broken the 1.9500 barrier and is currently at 1.9490.. getting beat pretty bad!
Next trade is Chicago PMI at 10 am EST. Of course, interest rate decision is something to watch out for as well, although I think rates will be held steady. There might be some hawkish comments from the Fed, if that happens.. you will see USD go up. I don't know how much further gbp can fall though.. unless the chicago pmi comes out horrible.
Next trade is Chicago PMI at 10 am EST. Of course, interest rate decision is something to watch out for as well, although I think rates will be held steady. There might be some hawkish comments from the Fed, if that happens.. you will see USD go up. I don't know how much further gbp can fall though.. unless the chicago pmi comes out horrible.
..i didnt trade ADP because I didnt think it deviated enough and then I got my first requote on GDP Then I made 1 pip on PMI because I got in too slow.
But Im working on it!
Hopefully, the rate announcement will deviate. I highly doubt it but well see..
Then I made 1 pip on PMI because I got in too slow. But Im working on it!
Hopefully, the rate announcement will deviate. I highly doubt it but well see..
Hi guys, sorry I've been away for a while. Been busy with work, life and of special interest, trying to develop, analyze and backtest some technial trading techniques. I have been successful with stocks from time to time over the years with certain personalized "trading systems" if you want to call them that, using some of my technical analysis tools (MACD, RSI, Boilinger Bands, EMAs, etc.) and have bene trying to determine if some of the same techniques could work in the forex world (obviously when no economic announcements are coming out!). I've actually had a little bit of success, but more testing and analysis is required (for consistency), so I'll let you know how I make out...
For now, I traded the GDP #s this morning and bagged 4 pips - essentially I got out too soon. I'll be subscribing to TTN in the next week or so, once I have more time and will hopefully do more trading as well, as I have been occupied otherwise this last little while.
Glad to see the threa dis still going strong though!
For now, I traded the GDP #s this morning and bagged 4 pips - essentially I got out too soon.
I'll be subscribing to TTN in the next week or so, once I have more time and will hopefully do more trading as well, as I have been occupied otherwise this last little while.Glad to see the threa dis still going strong though!
I think i will stick with Oanda for now, because of the $2k minimum and the fact that they dont have Mac platform. The guy from CMC that i talked to in the phone said they have platform for mac, but when i asked for it in my email, they said they dont have anything for mac.
Thanks for the info.
I agree with MP about sticking with Oanda for high probality trading.
I am now in the process of verifying my real account with Oanda, should be good to go later today.
MP, the spread of game account do change during news release time. This morning, the spread was 10.
Here is a screenshot of my trade (i think it was on Monday or Tuesday) I am really busy with college..
Hi ~Shard~
I am now in the process of verifying my real account with Oanda, should be good to go later today.
MP, the spread of game account do change during news release time. This morning, the spread was 10.
Here is a screenshot of my trade (i think it was on Monday or Tuesday) I am really busy with college..
Hi ~Shard~
Attachments
Shard, let us know how the tech analysis stuff goes.. and what method works. There are so many systems out there, and every time I see a chart loaded with indicators I just want to close it
Yuhu, nice trade.. yeah cmc has nothing for the mac.. and btw, I had a close call this morning. First, I couldn't trade the GBP report (1.30 am pst) because of a re-quote. I was able to trade the US PCE report and I got about 12 pips on that.
Now, the scary part.. I was getting ready to trade the US manufacturing pmi.. and as soon as it came out.. I hit 'buy' (GBP/USD) since the numbers were bad. And, my platform crashed I was praying 'Please don't let my trade go through' and trying to start up the damn platform.. it finally opened.. and my profit/loss section showed '-$1800' because the stupid thing went up by 40 pips and then came down .. and went lower.
Of course i would have made a profit had the retarded platform not crashed.. but i was unable to close my positions. So I closed it for a -$1800 loss.. but then I figured that since the start of the NY session, there was intense selling pressure on the GBP. So I sold double the quantity of gbp/usd (a risky move) and luckily, it did go down and I recouped my losses. Phew!!!!!! Windows sucks!!!!!!!! That was one hell of a scary ride though.
Yuhu, nice trade.. yeah cmc has nothing for the mac.. and btw, I had a close call this morning. First, I couldn't trade the GBP report (1.30 am pst) because of a re-quote. I was able to trade the US PCE report and I got about 12 pips on that.
Now, the scary part.. I was getting ready to trade the US manufacturing pmi.. and as soon as it came out.. I hit 'buy' (GBP/USD) since the numbers were bad. And, my platform crashed
I was praying 'Please don't let my trade go through' and trying to start up the damn platform.. it finally opened.. and my profit/loss section showed '-$1800' because the stupid thing went up by 40 pips and then came down .. and went lower. Of course i would have made a profit had the retarded platform not crashed.. but i was unable to close my positions. So I closed it for a -$1800 loss.. but then I figured that since the start of the NY session, there was intense selling pressure on the GBP. So I sold double the quantity of gbp/usd (a risky move) and luckily, it did go down and I recouped my losses. Phew!!!!!! Windows sucks!!!!!!!! That was one hell of a scary ride though.
Be careful with the NFP report today.. I'm not trading it. Not even with a small lot, apparently there are a lot of rumors that there will be major revision to the tune of 810,000 jobs added.. and that's enough to cause massive whipsaws. And these are not rumors caused by traders, etc.. there's an article on CNN :
http://money.cnn.com/2007/02/01/news/economy/jobs_outlook/index.htm?postversion=2007020115
If you're on a demo account, then surely go ahead. It makes more sense to stay away from this report than risk an enormous loss.
http://money.cnn.com/2007/02/01/news/economy/jobs_outlook/index.htm?postversion=2007020115
If you're on a demo account, then surely go ahead. It makes more sense to stay away from this report than risk an enormous loss.
Interesting.. looks like a bunch of traders got some inside info.. gbp/usd moved up by 20-25 pips just a minute before the actual report.. the number came at 111, so less than forecast.. I didn't trade the initial spike.. but 'faded' it.. for 13 pips. With only a 10,000 size lot obviously, and the damn thing whipsawed when the report came out.
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