Good example of news trading (doubled deposit in seconds)

But he’s right that it does look cool! :wink: And every newbie trader, whether its right or wrong, loves seeing things like this.

Just please label it is such and don’t lead n00bs on toward a service.

The Title says it all. Great job and well done. Ofcourse trading is risky but this is a great example of news trading. You have to study the news and profitbaby was well prepared especially when expecting a one direction news impact. There are many news traders out there and just like regular trading you have to know the risks like slippage, spread widening and false stop hunting wigs but that’s just part of the game. Wining wont happen all the time but the risk reward ratio is great so keep posting those examples profitbaby. Just a small remark I saw you didn’t set any SL levels maybe you should consider this for the next time just in any case as you could have lost it all the same way.

The expectation value of ALL traders in the long run is negative because of the house edge (spreads), in other words we all lose in the long run. Winning consistently in one week means we beat weekly odds of losing and basically we are winners whatever strategy we use.
This week I’m going to work on ECB rate decision and will try to record the trade as well.
Cheers.

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News trading is exciting but you should never do such type of trading on your master trading account. Instead you can open another account with small investment to enjoy such thrilling trading as fun.

Replies in this thread are just compound facepalm after compound facepalm…

So profitbaby. Verified Analist. Care to share your thoughts and setup for the EURUSD pair ahead of tonight’s ECB announcements?

Personally, I’ve seen this chart sett-up before where price gravitates towards a round number ahead of a big night of news. So selling at 1.1035 as made me a bundle in the past couple of days. I can kick back and watch this one play out.

But keen to hear how you plan to straddle this all important round number of 1.1000. My guess is your stop will have to be that large you’ll be lucky to make 1-2%. Not quite the double my account claim!

And as a disclaimer, I’ve also seen this pair shoot up and down 100+ pips 1 hr out from a news event. So the price could be up at 1.1100 maybe higher. Or 1.0900??? Who knows. What contingency plans do you have in place if this happens.

And because I’m greedy, I took another one

Indeed.

Exactly so.

But - sadly - however many of us point it out, nothing will be done about that.

And most importantly this was left out too.

It only takes one time to destroy you. What do you do if things get messy quickly?

Well I passed by the trade cuz 0 changes were priced in so no impact was expected, especially after BoE standing pat. There was 10 points swing on the announcement as dozens of other during intraday with good volatility.
Regarding Draghi, well, he stressed the point they don’t have enough data blah blah blah, literally no additional cues on next ECB next maneuvers, but one important point he mentioned that EU banks are solvent but with low profitability, I suppose they keep situation under control.

UPD: there is a reversal in risk appetite starting from July 7 if we check German Bonds, Gold, Japanese Yen (safe heavens) and for example GBP/USD I think its possible pound has a room for a leap to 1.34. What do you think??





OK, small update. Made some quick pips on RBA cash rate decision.
[video]https://youtu.be/BgRGI8tjCBg[/video]

arent verfied analysts forum member who work for/or are connected to some brokerage company?

if yes then no surprize that soleone is trying to promote a way of trading which has the lowest success rate and the highest frequency of trades. low risk for the broker, high frequency commissions and higherst win rate for MM brokers

I think not brokerages, no: perhaps financial news analysis/commenting/advisory services (which is what “investing.com”, as shown on this thread’s charts, is).

…and you’re doing your bit to ensure that continues.
This is a terrible thread, encouraging new traders to take stupid risks.
In the interests of newbies this thread should be closed, it serves no useful purpose at all

Hey profitbaby, did you trade NFP today? I bagged a record trade :smiley:

Hey,
Yes I traded payrolls on gold but missed most part of of the profit as closed a fraction of second earlier than it hit my TP (with positive slippage). You can see that on 18 s. of this video:

Got a response from broker support confirming what I wrote above.

So a streak of economic data from UK is due this week and I’ve managed to reap some profits as well on today’s UK consumer inflation data. The data came mixed with consumer core inflation at 1.3% for July trailing medium estimate. The rest of inflation data including producer prices outstripped projections, so the pound advanced. Employment data for July is due on Wednesday which I believe was not affected by Brexit in full extent.

I decided to go with bigger lot size (3 lots) increasing margin as well to 3K
Here is the UK CPI trade:

Will try to keep you updated guys. Thanks for watching!

This chart showing that your prediction are quite right and you have make the big profit, I think you earned this profit due to your proper planning and strategy as well as good approach of understanding the trading news, congratulation.

Hey Profitbaby …NFP coming up on Friday :slight_smile:
Im looking forward to seeing your trade. Good luck I hope you smash it out the park.

Your chart showing good results and you have take the good decision but you will have to be careful as forex is also risky and tough business and you might face the loss due to the uncertainty of forex market, do careful trade like this chart.

thats just a lucky trade, in a parallel universe were luck doesn’t exist (just like in fx MOST of the time), you would lose your deposit and sit staring at your screen wondering what the hell happened.
A little test for you and whoever saying “your strategy worked”, go on and open a demo account and test “his strategy” and post your results will ya! :smiley:

That video must have the “Don’t try this at home” sign right at intro, lol.