Baruch's Forex System Journal

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Quote from Baruch:

Hi Jay,

No, the charts don't lie - but they will make you crazy, if your are sitting the whole day just watching them. You need to know, what makes those charts, what's behind the moves - the news, most of time, I suppose.
I love to trade forex - because you get a lot of information, what's happening in the whole world. If you only look at the charts, you will die because your are so bored...Why not look BOTH at the charts and the news?
Yes, I agree that the news send the markets opposite of what you think half of the time. But If you want to stay with your position, I suppose you must know why you should do it.
PS. Why don't you like the moves of NQ?
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I watch news and charts. Charts just take priority with me. Always.

NQ doesn't work as well with my charting techniques, and I just prefer concentrating more on ES. Its just a personal thing.

Jay
 
Quote from Jayford:

I watch news and charts. Charts just take priority with me. Always.

NQ doesn't work as well with my charting techniques, and I just prefer concentrating more on ES. Its just a personal thing.

Jay
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Hi Jay,

OK. How do you handle spikes?
 
Quote from Trend Fader:

Baruch.. OANDA has the EURO/USD quoted at 1.2438... it jumped around 100 pip at 4pm (EST) this saturday... any idea what happened?


--MIKE
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Hi Mike,

What a jump! No, I don't know what happened. It must be nice trading when the market is closed? What's the spread?
 
Quote from Baruch:

AFX Financial News and Market News International.
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I opened a demo account with saxo and they gave me those news feeds for free.

I like MNI.. very usefull when they have bulletins regarding the USD/EURO and when they give u a reminder of key economic events.. but AFX is not so great.

AFX has more of a story behind everything but nothing is breaking news or valuable to trade from.

What is the best feed for someone that wants to make a living trading the EUR/USD.. i would assume bloomberg and reuters feed is the best?

--MIKE
 
Quote from Baruch:

Hi Mike,

What a jump! No, I don't know what happened. It must be nice trading when the market is closed? What's the spread?
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10 PIP spread. I checked all the news feeds and I couldnt find anything that happened during the price spike. Interesting.
 
Quote from Trend Fader:

I opened a demo account with saxo and they gave me those news feeds for free.

I like MNI.. very usefull when they have bulletins regarding the USD/EURO and when they give u a reminder of key economic events.. but AFX is not so great.

AFX has more of a story behind everything but nothing is breaking news or valuable to trade from.

What is the best feed for someone that wants to make a living trading the EUR/USD.. i would assume bloomberg and reuters feed is the best?

--MIKE
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Hi again,

Yes, MNI is good. AFX is much like Reuter's - they are OK. You get a lot of information, but they are not very quick. I assume Bloomberg is the best - and most expensive. But you can listen to their radio free.
 
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