Hello is anybody trading the NFP news event this afternoon 13.30 GTM?
I am trading it with a buy-pending and a sell-pending, I am taking the trade 5 sec before news comes out.
1 Like
That may work…
The forecast is higher than the previous, so we may see the USD rise sharply. A buy is anticipated.
But just in case the unexpected happens and the forecast was dead wrong, the reverse should be the case.
Why not just wait for the News result and enter immediately with a market order.
Both of your pending orders can be triggered if they are very close to price. It’s called spikes.
yes is an option what your saying, but I always trade like, this and sometimes it is bad luck
you get hit on both sides, normally I wait then for a while see what direction the market is going, and take one position out with a with a loss, that is trading to.
Bad luck had to take a loss 1% on this trade, there was also a slippage of 20 pips on this trade. That all in the game.
You know the less risky way of doing it, why are you then sticking to the more risky way?
How often do you hit bad luck when you go this route?
Why is this more risky? I lost 1%. there many times I make 2,5 %. And when the news is really
bad or really good. you get a strong move up or down, with a lot of profit to gain.
I what your are saying, when I looked at the trade from yesterday, I would have gained profit, when a waited after the news and then shorted the usdcad, totally true, but this is the way I trade now. Next week there are lot of news trades take for me, and they will not be profitable, but some then will.
1 Like
This is hard to say deepens on way what happens with the trade, sometimes I get hit both ways short en long really quick, And then you have to make a quick decision when to take the loss. When you trade like this you must be able to take decision really quickly, and that is hard in the begin. But let guess 10 times in a year.
10 times out of what?
Yeah that’s way too fast paced for my taste. I see how a lot of people like it though.
Today I trade the usd (ISM Non-Manufacturing PM) at 15.00 a let you know the result.
out of 118 trades.
No result I pulled out, the news made no big move up or down. No Win No Loss.
The 8th jan, We news trade the CAD Trade Balance, 13.30 GTM.
Oh, that sounds pretty good still!
Ok also today no movement in usdcad. No Win No Loss.
wed 9 jan 15.00 gtm we news trade the BOC Monetary Policy Report,BOC Rate Statement,
Overnight Rate, on usdcad.
Trading the NFP news could be profitable, but risky. however, try to use a wide enough stop loss with very low leverage to weather the high volatility during such events.
I do not use sl. I use 2 pending orders, 1 buy stop en 1 sell stop, for this game to play you need a broker with tide spreads, else it is very hard to make money, the spread will be more wide, just before the news comes out. Or you need to more distance put the 2 pending orders.
What happened with my trade so far, I got hedge, that means both pending were triggered,
I closed the buy pending with 1% loss, and put in an other pending buy to protect my sell position. So I am going to manage the sell trade next couple of days.
Here an update of me trading the usd/cad after a failed news trade, my buy was a again hit. So I closed the hit buy pending again, with a small profit. Then I put in a new pending buy, to protect my position. So we will see what happens.