Hi Babypip friends
I hope you are well. I started trading the news release sometime this year and thought that starting this journal would force me to document the pros and cons of every trade I place with more discipline.
Please find my results published here: IC M Variable Spread Runtime System by EmmanuelUwechue | Myfxbook
I was asleep when the last two trades went off so I am not able to analyse exactly what happened.
This mornings trading was good. I placed identical trades with IC Markets (true ECN) and City Index (Market Maker). City Index offer fixed spreads and margin call @ 100% whereas ICM offer commission only variable spreads with 120% margin call.
The results:
ICM = 45% return || IC M Variable Spread Runtime System by EmmanuelUwechue | Myfxbook
City Index = 90% return || Advice & News System by EmmanuelUwechue | Myfxbook
does anyone have live experience to feedback on ICM?
Great of all days to lose money on my birthday. figures. IC M Variable Spread Runtime System by EmmanuelUwechue | Myfxbook
Stay positive 
let’s hope that was a one off.
[B]Field Report June:[/B]
Start Balance: £10,000.00
Current Balance: £32,318.25
Absolute Gain: 223.18%
Growth Factor: 3.23
Trades: 7
Wins: 6
Win Ratio: 85.71%
Highest Return: 68%
Lowest return: 4%
Average Return: 33.66%
Highest Loss: -12%
Lowest Loss: -12%
Average Loss: -12%
Realized Reward Risk Ratio (based on average numbers): 2.8
hi
very cool, can you tell us more please.
do you straddle or how do you take a position?
do you use scripts or ea?
how do you calculate risk reward and money management when slippage can be so great at news?
Hi there thanks for the post. Similar approach to straddle but more simplified execution tasks on the news release. I use a custom EA for both the city Index and IC Markets, so far they achieve the desired results but i believe I would need to refine them more moving forward.
Reward:Risk with City Index whom offer fixed spreads is far easier to calculate than for ICM with their unknown and continuously shifting spread. That is why the quoted R:R above is a realized rather than a predicted figure it is only a rough guide too because the Account-to-Base-Currency exchange rate adds more leverage and therefore risk (compared to trading a GBPXXX Pair on a Sterling denominated account) and the Max spread before the announcement will vary from pair to pair.
The predicted R:Rs for City Index are quoted in Nominal terms so do not take account of positive or negative slippage. The P(negative slippage > 8 pips) < 10% so the TP must be at least this distance from the start point with a P(Hit TP) > 65%. I only select trades with a 3:1 Reward:Risk ratio or better, and a P(Retrace within the defined range) < 33% on LTM numbers.
So the Risk management science here is not exact but trade selection tries to stack the deck for 1) a high probability of winning each trade => 80% [with P(Full Profit) > 65%] and 2) only 25% wins required to break even long run (based on R:R).
I think the 2 important dimensions for healthy long term risk management in this case.
i’m still baffled, lol. so you trade with a directional bias?
trading nfp today? good luck, cheers.