i Was just wondering. Who traded today EURUSD during the two hour dissertation and interview of Draghi, who made a pip or two, and who lost some after two hours. Who put up orders in advance, and who did it in front of the screen, on the fly so to speak, watching the candles burn, or i am the only odd one out who sat there ordering as it evolved ? Little use for analysis i suppose during hours like that, all sentiment.
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please don’t (ever) state any actual amounts of money made or lost, that’s nobody’s business but your own and you never know who’s watching.
I myself made a nice run as it went up with expectation, then lost that same amount (on what i call wishful thinking as it plummeted back down again to its starting point). From there i recovered about the same amount , a little more as it went down. Then as things settled i tried slicing (or how do you call that, scalping?) a few cents here and there watching the one and five minute charts. Which worked quite well until i got greedy and it scalped me for a little instead, after which i quit my session.
All in all balance was positive, if it would have been for real i would have (could have 
made a decent buck today, which is nice and gives me hope that things <b>are</b> possible if you’re capable of waiting, staying frosty at all times, and <b>don’t</b> get greedy
Anyone feel like sharing their two hours? Please do so, i’d be delighted to hear your experiences. I’m fairly new, well, brandnew (i guess one month since i found out about forex doesnt count at all) so please, anyone who did those two hours specifically share whatever you like with me here.
I didnt trade the news annoucement and i never will trade them. If you are new i suggest stay away from them altogether. It is the quickest way to lose money. If you havnt done so already go through the school of pipsology and practice everything you learn there. I know everyone on this site keeps saying it but thats because it is so good! Just one other piece of advice when starting out start learning about price action asap. Dont get caught up with all the indicators. Sorry its not really anserwing your question but its just some advixe.
o yes i have, the school is the best but there’s no strategy for hours like that, i was just wondering if anyone at all but me did this
There will be some people that trade news so just use the search function to find them. They will be in the minority though because, as i said earlier, it is a quick way to lose money unless you are very experienced.
I was on Aussie USD but that was much earlier than draghi spoke.
It hit my SL by about 20 pips on that long wick.
News or not, market will end up going in the same direction that it was suppose to go originally. The only question is at what level would your entry be to avoid a big drawdown.
Only thing that can mess up market direction order is Central Bank intervention.
They can announce all they want that they going to save the Euro or Weaken the USD etc etc, but unless there is actual cash moved around, the market will quickly go back to doing what its suppose to.
Yesterday was suppose to be a short on all USD pairs.
It messed around until news announcement and than it did shoot south.
Niki and I talked about our trades yesterday, I lost out on a very similar AUD Short which I placed well before the news. I was also in a GBP/USD Short at the time and the Dragghi stuff caused my trailed Stop to be hit. I was long USD/CAD with a Stop at BE and it survived. All of those three trades were placed before Draghi (indeed, earlier in the week, I had held them overnight). I lost on AUD, made profit on Cable, it was fine.
The point I am making is - personally I just tune news out in terms of taking trades and holding them overnight. I seriously don’t even check the likely news announcements, it doesn’t factor into my thinking as backtesting shows me that it doesn’t need to. My overall read on market direction pays out more often than not, and the news might cause some bouncing around but usually doesn’t affect my Stop. Yesterday was a freak and I still made money overall.
For my intraday trading, I do look at what is coming up, and I don’t enter trades directly ahead of something that looks as though it might be big, I just give it a little room to play out first, or make sure that I am out of any open trades. So I do take it into account, but only as a reason not to be in a trade, rather than a reason to trade.
I will never ‘trade the news’ - I know that some say that they do successfully, but for me it is too unpredictable and does not fit my tight definition of trading, it just moves a notch too close to gambling for my liking.
It might sound crazy to say that I ignore news - including NFP - altogether for my end of day trading, but think of it this way: I had a string of winning trades on USD/JPY and EUR/CHF before the BoJ and the SNB intervened. There had been a lot of speculation beforehand that each bank would intervene, but for weeks a number of proposed dates for the interventions were doing the rounds. Had I avoided trading for that period I would have missed dozens of winning trades, whereas had I caught a cold on both interventions I would have had two losing trades. As it was I lost one trade, and was not in one when the other intervention hit last year.
I am a technical trader, I take the setups the market gives me. I trade what I see, not what I think. That pays a lot of money over the long term, and is a steady, mechanical way to trade. For me, trying to estimate how the market might react to big events and putting my money into the middle of that potential storm day in day out is too close to gambling.
I used to work in government and politics, and experience taught me that I could find experts who would sit on both sides of any issue with opposing views and both ‘prove’ that they were right. I don’t trade the news.
ST
Yes i totally agree with you that trading before and after news is a must. My point was that the original poster asked about actually trading just ‘during’ the news. That is completeky different.
exactly, i can see how people who placed orders with a tight stop loss got screwed because the ‘expectation’ after draghi’s previous remaks that it would be disappointing seemed to push things higher, right until about 5-10 minutes into the meeting when the disappointment struck
Yes, sorry, just to be clear, I agree with your posts entirely - as I generally do! - my long post was intended as a response to OP. Apologies for being unclear!
No probs my fault misunderstood. I got in trouble with another well known poster the other day because i didnt read the post accurately!!! Need to read carefuly from now on!
Would you agree if I say that what you mean is that what matters is the price levels where we buy and sell and nothing else , ST?
Hi IXS,
Yes, it is very difficult to ‘’trade the news’’. However, we cannot trade without it. You will see the ‘noise’ created by daily news on lower timeframes. You cannot just trade news based on random figures in the speculated column of the economic calendar. It would have to be combined with your technical methods and you must understand the reason for the rise/fall and be able to predict how long the effect will last in the market. This is difficult for a new trader. It takes years of experience. There is no quick method of learning how to trade. Experience is the real key.
Many new traders see how the market reacts to these news events and think it is an easy way to make a profit. Then, as happened with you ixs, they realise it is just as easy to make a loss.
Likewise, many new traders try to trade purely based on technical analysis, then find that some trades are going against them as the market reacts to the economic events. That’s why it is the best idea to begin with one pair. Learn to read that pair like a book. We must be able to recognise the highs and lows, areas of support and resistance and most importantly the economic situation of the countries with dealing in these currencies.
You were trading EURUSD – the pair that moves all pairs, and Draghi had spoken – this was a brave time to trade IXS and you did well to come out with profit.
Keep up your trading IXS and don’t hesitate to ask for advice. Remember to take one step at a time and start small. Keep a good eye on news events and try to use one technical system that you understand and that you like. Be consistent.
Kathia
eurusd will go down or keep turn to uptrend
how about usdcad situation, short or long?