Just wanted to share one my successful trades with you.
Cheers and green pips to you!
Are you for real? Surely this should be renamed âwhat not to do trading retail forexâ.
I assure you that you WILL NOT be able to do this consistently.
I assure you that you WILL BE slipped 99 times out of 100.
I assure you that IT WILL only take the one time you get stuffed, when you really get stuffed. No matter where you put your âpending orderâ.
Kids, donât trade like this.
He won the trade. Doubled his deposit. If his strategy works for him then who are you to flame him?
It doesnât matter if he suffered slippage, he still smoked a bunch of pips in that video. good for him.
Wrong tense. You make it sound like it might be something sensible to do, and it isnât. It doesnât âwork for himâ. It âwork[B][U]ed[/U][/B]â for him on one occasion, apparently.
Advising people [B][U]not[/U][/B] to trade like this was a valuable and very worthwhile contribution.
Thanks for your critics.
Agree, it does look a bit crazy and risky.
But it works for me and I do consistenly earn from it.
Talking about this event even with decent slippage I had about 70% chances to win.
I spent about two years testing brokers, understanding straddle trading, liquidity, pre-sentiments ahead the event how it affects liquidity, type of the event etc, typical slippage and spread widening during such events.
News trading is more about tests rather than trading.
Cheers.
One of the (many) problems with that style of trading is that if you ever perfect it enough to make those results consistent, the brokerage will (rightly) close your account before you ever have a chance to acquire a statistically significant enough number of trades even to be able to [I]measure[/I] their overall success-rate.
How long have you been trading live with this system?
Oh I see! You are getting to the point that all brokers are MM and we trade against them. Right? But it raises the question: what are we doing in retail forex at all If in the long run we are not allowed to make profit consistently?
If you are talking about slippage at open/close then I can surely tell you there are some ways and methods to get around this issues successfully enough to stay afloat.
Cheers.
4 months. 1-4 entries monthly.
We [I]are[/I] allowed to make profit consistently, but not in the way you describe, because [U]that[/U] kind of profit (if and when you can make it at all, which is risk-fraught, to put it mildly!) is coming out of the brokerâs own pocket.
If you had ever worked inside a brokerage, or even read about their business-model, youâd understand how market-making brokers lay off their net liabilities (which is the answer to your question above about why retail traders [I]can[/I] make consistent profits), and why this kind of trading [B]isnât[/B] acceptable to them in the long term [I]precisely because it [U]prevents[/U] them from doing that[/I].
Iâm not trying to be rude to you, but Iâm honestly surprised to see a âverified analystâ displaying this level of naivety, and dismayed to see it being presented here as âa good way to try to tradeâ. It isnât.
Of course I know what you are talking about, but stating that news trading is allowed is enough for me to get around all of the rest of issues. Believe me or not.
As a counter argument to your dislike I would be happy to see you subscribed to this thread because Iâm going to post more recordings of my trades to try to prove consistency.
I suspect [B]not[/B] - otherwise you wouldnât have made the frankly misguided statements you did, on the previous page.
However much âconsistencyâ you might achieve [I]in the examples you select, with hindsight, to post here[/I], you wonât make this a good or sensible way for people to try to trade, because it isnât, and there are [B]reasons[/B] for that, for heavenâs sake. Theyâre good and valid and reproducible reasons, and theyâre going to impact anyone who tries to copy what youâre trying to do.
Granted, those reasons are apparently outside your own experience, so far, (and thereâs nothing wrong with that, and nobodyâs suggesting there is), but your time would be better spent, in my opinion, trying to [U]learn[/U] something rather than trying to [U]teach[/U] something thatâs unfortunately based on such a fundamental misunderstanding of how the mechanics of retail trading work.
Nah, Iâm going to post all my trades (profits and losses) + will connect myfxbook account so everybody can see everything. transparency.
And⌠Letâs Take it easy. I do not solicite anybody to follow my style of trading. Traders and newbies should know what they are going for, when depositing 200$ and taking 1:500 leverage, second-guessing price movements using some vague and unconfirmed theories such as Elliot Waves, Fibonacci etc, channels, magic tricks, stars 
I also trade using other fundamental strategies and I will post about them as well.
Ah, a self-promotional motivation. Suddenly this utter nonsense with its sensationalized title all starts to make sense. :rolleyes: :34:
You have a serious problem with his style of trading and your argument makes absolutely no sense at all. There are a million and one ways of trading the market. Who are you to criticize this method? If I post a 1 minute scalping technique will you shoot that down in flames as well because it doesnât fall in line with your belief system?
The guy doubled his account. I wonder if you have managed to do that yet?
It was a was a straight forward news play, most guys went long GBP pre the rate announcement.
It was only news media that suggested an rate cut announcement, think about it, why would the BOE cut without any hard numbers, much too early, all we have is talk.
If the numbers come in as per the talk, and the probability is that they will, then the Boe will react, but not until then.
Btw, there was a brilliant post right here on this site that gave the heads up before the news.
(Always read his last paragraph :))
You have completely missed the point of the argument against this type of trading.
Yes, this one trade looks to have made money. But based on how a retail, ECN forex broker works with aggregating prices from liquidity providers during a news release, this can not make money in the long term.
By placing limit orders like the video shows, you will get slipped as spreads naturally widen during a news release and you can even get caught having both your long and short pending orders triggered one after the other, simply because the prices are not being offered in the real market by their LP.
You will then whinge to your broker that they are a bucket shop, demanding they reimburse you etc etc etc, when it will be entirely your own ridiculously stupid and naive fault.
Again, completely missing the pointâŚ
A harmonious relationship with an ECN forex broker is common. If you trade volume and the forex broker can happily hedge their risk via liquidity providers then it is in the brokerâs best interests that the trader makes money, simply because he will push more volumen through their brokerage.
A 1 minute scalping technique under normal market conditions on the other hand, actually sounds the perfect match between trader and broker for both parties to be profitable.
It does not take advantage of thin market conditions where prices cannot be guaranteed by brokers or liquidity providers (who can easily pass costs for misplaced fills onto the broker donât forget) and is actually very recommended.
[B]The fact this was posted in the newbie section of an education forum, by a âverified analystâ, titled as a âgood example of news tradingâ is horribly misleading and downright wrong.[/B]
Listen, I donât want to spark this flame anymore.
Do you know the difference between âtalkingâ and âactingâ? I shared one of my trade where I make decent profit for the time spend without selling or soliciting anybody to follow it. Where Iâm wrong?
People posting on youtube walking on the edge of the roof, making crazy stunts are you also so concerned blaming them they can kill somebody by their crazy examples?
UPD: How to Trade the News Using the Straddle Trade Strategy
Go and blame babypips authors as well if you are so eager to restore justice
âListen, I donât want to spark this flame anymoreâ âŚBut Iâm going to anyway, right?
The difference between talking and acting? So youâre saying that you are simply acting by posting a trading strategy that looks amazing on the surface but will never be able to work long term within retail forex? So wrong posting as a verified analyst in a newbie trading forum. So so wrong.
Thank you for highlighting babypipsâ reckless trading articles too. You are doing a great service to the newbie traders reading this forum.
This was my perspective, exactly.
I normally let these things go, and just stay out of nonsense threads - but on this occasion, as some continuation was threatened, I thought it might just be a service to members to mention (especially given the otherwise ostensible authority of the poster) that this canât possibly work in the long run for retail traders ⌠and that there are reasons for that, and theyâre good and valid reasons which are inevitably, inexorably going to apply to anyone who might otherwise think of trying this.