Quote:
Originally Posted by Max99
Tymen,
Maybe I’m missing it but from the chart 8pipike posted it looks like he’s pointing to the candle at point A on the chart I posted.
That’s not a valid signal and I wouldn’t have traded that close to the news release just two bars later. That would have been quickly stopped out. Have you had success entering a trade before major news releases?
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You may well be right here Max99. I assume we can only be sure by asking 8pipike directly. I use reading glasses and I cannot see these smaller details which you can clearly see.
As you say, I agree with you that an entry at point A is not a valid signal.
I am totally ignorant about news releases. I just enter the trade. If there is a news release I never know about it as I am not a fundamentals trader.
Sometimes when I trade I get a very fast moving red candle going down.
This is great - much profit - these must be the news releases.
However, being a scalper, I play it safe and cut off my trades. Some of these go on to produce tremendous profits and I miss out. Again, these must be the news releases that I know nothing about.
Not letting my trades run is a weakness I have and as a result, I miss out on profits. I would say that it is easy to trade better than I do.
My broker warned me, however, to beware of these news times as slippage is a major problem. I have not had this problem so apparently I must be getting in just before or nowhere near a news release. Or else a stop loss gets hit.