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Anyone here into FOREX?
- Thread starter Music_Producer
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No trade.. no deviation from core cpi.. however I made a few pips by trading gbp/usd (shorting) when it hit 1.9500. It bounced down to 1.9485 and I exited my positions. GBP is seeing quite a bit of strength .. probably wants to go back to its previous 1.97 levels 
No trade for me either this morning. Ah well, there's always more trades next week...
I did try that VanessaFX system on a couple practice trades after following it to the letter and getting all the "correct" signals, and it didn't work for me any of the times I tried it. I think I'll stick to trading facts instead...
I did try that VanessaFX system on a couple practice trades after following it to the letter and getting all the "correct" signals, and it didn't work for me any of the times I tried it. I think I'll stick to trading facts instead...
No trade for me either this morning. Ah well, there's always more trades next week...
I did try that VanessaFX system on a couple practice trades after following it to the letter and getting all the "correct" signals, and it didn't work for me any of the times I tried it. I think I'll stick to trading facts instead...
Welcome to the club
I wish we all stayed in one place and pooled in funds to open an account that featured a Currenex or FXall platform (used by major banks) No re-quote hell.. ahh, that would be sweet. Next trades I'm looking at are on Tuesday.. UK and Canadian CPI.
Welcome to the club
Next trades I'm looking at are on Tuesday.. UK and Canadian CPI.
No worries, I was always a part of the (news trading) club I think...
damn it, industrial production was an easy 20 pips...i didn't trade it because I was watching...it usually doesn't do anything.
Shard, err...i dont know about the vanessafx thing. Its been working for me but I only take a trade when its a really good set up and thats maybe 3-5 times a week.
Shard, err...i dont know about the vanessafx thing. Its been working for me but I only take a trade when its a really good set up and thats maybe 3-5 times a week.
Ohhhhkay...
Wasn't planning on trading the 7:15 data, but I thought I'd watch it for fun and am I ever glad I did! Bagged 15 pips on shorting the GBPUSD! Was going to get out immediately but held on for just a split-second longer than I normally would since it was heading down so fast. A nice way to start the weekend...
Wasn't planning on trading the 7:15 data, but I thought I'd watch it for fun and am I ever glad I did! Bagged 15 pips on shorting the GBPUSD! Was going to get out immediately but held on for just a split-second longer than I normally would since it was heading down so fast. A nice way to start the weekend...
No worries, I'll keep an eye on it for fun and will not abandon it - I'll still do practice trades with it. But that's the whole point - it's not a big deal for me, because these have all been practice trades - it's not like I've lost actual money or anything, so I'm not upset! I always research things thoroughly before investing any real money, so in this case, it was money well unspent.
Good to hear that everyone made some money this week.
I am still playing with a game account but hope to soon join everyone and use real money.
Just wondering, how long did it take you to play with a game account before you transitioned to a live account?
I am still playing with a game account but hope to soon join everyone and use real money.
Just wondering, how long did it take you to play with a game account before you transitioned to a live account?
It took me a few months, but keep in mind that I am a "veteran investor" of the stock markets, so I had a fair bit of experience in general before embarking of forex trading. If it was all new to me, I would have took even longer, but it's different for everybody. Do what feels right for you, and above all else, exercise patience.
50 pips on the UK cpi report ( I got in a bit late.. after the core numbers came out the same.. but the y/y came out higher and so did the RPI .. rate of inflation.
35 pips on the Canadian CPI report.. coulda made 40 but hey, its CMC re-quote fever that always causes a 5-10 pip loss all the time Sweet day!
35 pips on the Canadian CPI report.. coulda made 40 but hey, its CMC re-quote fever that always causes a 5-10 pip loss all the time
Sweet day!I didn't trade UK CPI, but I got 34 pips on Canadian CPI.
Awesome! See that's the musicproducerfx system.. you like it huh
Edit : Nathan, you trading US housing starts? I just feel like it won't be a mover.. so Im debating whether I should stay up for a potential 8 pips profit or not.
Awesome! See that's the musicproducerfx system.. you like it huh
Edit : Nathan, you trading US housing starts? I just feel like it won't be a mover.. so Im debating whether I should stay up for a potential 8 pips profit or not.
Yeah, that's my favorite system.
Uh..Im probably going to watch it, but Im thinking it will be more important next month, since today's data is from last month...but if there is a huge deviation I will probably jump in.
Man, I cant believe I missed UK CPI...woke up late. I'll be ok though
Edit: US Housing Starts moved a whole 3 pips! ...I stayed out.
Grabbed 5 pips on the GBPUSD pair from the US data this morning, but that's it.
However, I did an expriment with a very small lot ($25K) yesterday based on a strong BUY indicator I received from one of my MACD techniques on the USDJPY pair. Made 65 pips and got the hell out before the interest rate announcement and before it started tanking. So, technical trading does have its place from time to time!
However, I did an expriment with a very small lot ($25K) yesterday based on a strong BUY indicator I received from one of my MACD techniques on the USDJPY pair.
Made 65 pips and got the hell out before the interest rate announcement and before it started tanking. So, technical trading does have its place from time to time! Grabbed 5 pips on the GBPUSD pair from the US data this morning, but that's it.
However, I did an expriment with a very small lot ($25K) yesterday based on a strong BUY indicator I received from one of my MACD techniques on the USDJPY pair.
That's awesome!
Does MACD work with trading the news strategy or is this a completely different strategy?
The pips keep rolling in! 55 pips on the GBP/USD trade.. I love any Bank of England report.. they always move the markets. BOE minutes vote came out at 8-1 (8 ppl voted for no hike.. only 1 person voted for a rate hike)
Next up, Canadian retail sales.
Next up, Canadian retail sales.
Btw nathan, I got the opportunity to check out the 003 in a studio... no difference in that and the 002 (supposedly they have better convertors.. uh, yeah right) Good old Digi.. always upgrading the look but not the features!
Good old Digi.. always upgrading the look but not the features!I didn't trade Canadian Retail Sales, it deviated by 0.1%.
I watched the BOE meeting minutes but I didn't trade because I wasn't sure what I was supposed to be looking for.
Yeah, Music_Producer, Im thinking I will get the Apogee or something from Focusrite...not sure yet, but I did decide the 003 was a rip off, so thanks for confirming that
I watched the BOE meeting minutes but I didn't trade because I wasn't sure what I was supposed to be looking for.
Yeah, Music_Producer, Im thinking I will get the Apogee or something from Focusrite...not sure yet, but I did decide the 003 was a rip off, so thanks for confirming that
Well I made $2048 in the game account on todays Interest rate announcement.
The newsflash on OandA is really slow.
I jumped in when I saw the spike take off.
The actual news did not show up on OandA until 2mins after the announcement and after all the movements, what a joke.
Can everyone tell me which news and brokerage is the best at this point?
I want to use real money by May 1st and want to get use to their format.
Thanks
EDIT: Still rising!!! Hope you made some good money.
The newsflash on OandA is really slow.
I jumped in when I saw the spike take off.
The actual news did not show up on OandA until 2mins after the announcement and after all the movements, what a joke.
Can everyone tell me which news and brokerage is the best at this point?
I want to use real money by May 1st and want to get use to their format.
Thanks
EDIT: Still rising!!! Hope you made some good money.
Damn...Rates were left unchanged, of course, but I figured that the Fed is "dropping their inflation bias" = no rate hikes(for the short term) = bad for the $.
So, I jumped in when it started going up and I got 27 pips
Edit: OceanView, I use tradethenews. Their site is www.tradethenews.com . They have a 1 week free trial(they let mine go for 3 weeks though) and I trade with CMC and Im 90% sure that Shard and Music_Producer use the same. CMC's demo is only for 10 days though...I think.(could be wrong)
So, I jumped in when it started going up and I got 27 pips
Edit: OceanView, I use tradethenews. Their site is www.tradethenews.com . They have a 1 week free trial(they let mine go for 3 weeks though) and I trade with CMC and Im 90% sure that Shard and Music_Producer use the same. CMC's demo is only for 10 days though...I think.(could be wrong)
Damn...Rates were left unchanged, of course, but I figured that the Fed is "dropping their inflation bias" = no rate hikes(for the short term) = bad for the $.
So, I jumped in when it started going up and I got 27 pips
Edit: OceanView, I use tradethenews. Their site is www.tradethenews.com . They have a 1 week free trial(they let mine go for 3 weeks though) and I trade with CMC and Im 90% sure that Shard and Music_Producer use the same. CMC's demo is only for 10 days though...I think.(could be wrong)
Thanks,
I was temped to buy the Euro before the announcement as all indication was that the rates were going to be left unchanged.
Oh no, it's purely a technical method. Some technical traders would argue that the news is priced into the technicals, so they know what's going to happen before it happens but I'm not that naive.
I have have a few indicators set up and when the stars align, I see what happens. I purposely traded the correction and nabbed 5 pips. Not bad.
Trade the News, as Nathan said, is the best news service (unless you want to dish out for the Bloomberg service!
) and we're currently using Oanda and CMC here. Both have the strengths and weaknesses, but no platform is perfect....Oh no, it's purely a technical method. Some technical traders would argue that the news is priced into the technicals, so they know what's going to happen before it happens but I'm not that naive.
Shard
:
Is the MACD strategy that you are using capable of giving high percentage of wins like the Trade the news strategy?
If so, it might be good for the times that we are not trading the news.
Also, where are you in Canada?
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