Hi there,all I wanted to ask is about setting forex stop orders most especially the buy stop and sell stop market orders.
I really want to get that into my mind so how can I simply go about that?
I want to be trading fundamental s/news release so I don’t know how to calculate the position where to set those pending stop orders…wud u please help…my WhatsApp is +27781571085
Do you not think maybe trading news on a very short time-frame is too ambitious for a new trader?
Or maybe you have a very reliable system from some other trader which you are going to use? Either way, it would be a very good idea to demo trade this style of trading before you risk real money.
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I don’t know how much trading experience you have had but trading the news is (in my opinion) is a losing strategy. Especially if you try and use stop orders. Even if you bracket the market with stop orders hoping to profit on whichever way the market goes there is a strong chance of losing becaues price action spikes before the news as traders try to preempt the market direction.
Cheers
Blackduck
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That’s sincerely true about the the spiking of the market just before then news release…been monitoring it several times as the spread widens due to increased volatility in the market…so I thot I could set my entry pending orders a different of 150 to 200 points away from the current market price