DeathStrike's News Trading System

[DeathStrike]

This is not the best news trading system, but I have been using it and I am having some exciting time with it.

1. You need to have a trading platform that let you hedge your position because you need to long and short the same pair at the same time.

2. You need to find a favor Forex calendar on the web. You need to find out the time and the date of major news release.

3. 30 minutes before the news, you need to long the pair you want to trade and immediately short the same pair. Make sure to do that when the market is almost dead idle.

4. Set the Stop Loss (SL) and Take Profit (TP). SL should be 50 pips and TP should be 100 pips.

5. Be patient and wait for the news.

Here are the tricks:

1. If the news turn out to be an non-event, you can exit the positions. All you lose is the spread cost. That should be small.

2. The maximum risk is 100 pips if it's a whipsaw market.

3. The maximum profit is 50 pips. I know . . . You are risking 100 pips to make 50 pips, but . . . the chances are: Most major market news should move the market in one direction.

I will post more details on my system as I have time. This is only a quick outline.

[jwilliamson]

What do you use for your Forex calendar?

Have you ever seen the Forex Factory website? Are their calendars comprehensive enough?

[tonymand]

Originally Posted by jwilliamson

What do you use for your Forex calendar?

Have you ever seen the Forex Factory website? Are their calendars comprehensive enough?

I personally think FF have the best calendar and of course you can apply your own timezone and filters to it. BPips take note, it is one area of this site that could be significantly improved

[kauaibobby]

it shows thing very clear and easy like you said.
is there a way to adjust the time zone on the calender.
Thank for the help