EUR/CAD trade ( Short ) .... Margin Call on account this morning

[ETcallhome]

I definitely need to understand better and know which of the Rate announcements ( such as the ECB meeting yesterday ) , to keep an eye on , and tighten my stops ad or close out of a position all together when one of this reports is due to come out .

Does each Currency have it's own MAJOR Rate announcement , and are the announcements called " The same thing " independent on which currency Pair the announcement is made for ..... such as ..... is the Rate announcement for the JPY called the same thing as it is for the AUD , etc. ?

Thanks again for the wake up call, as I will now make sure and pay attention to these Rate announcements

Side note:
I did see that Forex.com has an Economic Calendar, that gives " Weight " to different Economic reports .... from Low to High
Time I start paying attention

here's one I like
http://www.babypips.com/tools/forex-calendar/
the website is pretty funky, but they have a good economics calendar. Everyone has their favorites. Since I trade all six major pairs, somebody is always announcing something somewhere so I trade in such a way that no one currency announcement can kill me.

rate announcements are rare and sometimes occur with no notice. But it's all the other reports. Employment, manufacturing, housing...etc. I don't usually trade reports, it can move way to fast for me, but it's good to know what the market is reacting to, and also to observe how wrong the market will be this time.

 

[md2324]

ETcallhome ,
Thank you for the BabyPips link

I'm going to have to keep a eye on these reports

I keep up with the major ones that affect the Stock and Future Markets ( FOMC, Non-Farm, etc. )

 

[i960]

Best site (IMO, hands down) for econ events (albeit, not every single extremely minor one is listed) is http://www.forexfactory.com - including the past history charts and descriptions of what a particular piece of news is about and what it means. Well designed and intuitive calendar.

 

[Thous@nd-lot-Trader]

Forexlive.com is a good webpage in general for FX Trading and they also have a calendar which you can sort and rank by important events http://www.forexlive.com/EconomicCalendar

 

[md2324]

Thank you both for the recommended Calendars

One quick question please ...... Is there a place that has all of the TOP 2 economic reports for each of the Major Forex Pairs ?

Thanks again

 

[mushinseeker]

here's one I like
http://www.babypips.com/tools/forex-calendar/
the website is pretty funky, but they have a good economics calendar. Everyone has their favorites. Since I trade all six major pairs, somebody is always announcing something somewhere so I trade in such a way that no one currency announcement can kill me.

rate announcements are rare and sometimes occur with no notice. But it's all the other reports. Employment, manufacturing, housing...etc. I don't usually trade reports, it can move way to fast for me, but it's good to know what the market is reacting to, and also to observe how wrong the market will be this time.

Hi EtCallhome.

How, may I ask, do you trade spotFx without having a news item wipe you out? thru options which serve as a safety net or just position sizing and prudent use of margin? Thanks.

 

[onemoreshot]

Hi EtCallhome.

How, may I ask, do you trade spotFx without having a news item wipe you out? thru options which serve as a safety net or just position sizing and prudent use of margin? Thanks.

Another option would be to exit your position before the major news event and stand aside.

 

[ETcallhome]

Hi EtCallhome.

How, may I ask, do you trade spotFx without having a news item wipe you out? thru options which serve as a safety net or just position sizing and prudent use of margin? Thanks.

my risk is usually spread over several currencies, so no one particular currency can wipe me out, but then again no one currency can make me rich

 

[mushinseeker]

Thanks onemoreshot and etcallhome. I usually do that with US stocks but as an Fx newbie,am not good enough to know what to ignore and what to stand aside for- so many news sources- mostly overseas. I have an auto system which was about to go live last year 2 days before the CHF debacle.. now I am dusting it off (time heals fear i guess like pain of childbirth..lol) and learning as much as I can to avoid being caught in that kind of black swan. Thus far, I've resolved to do the following.... 1) don't trade any artificially pegged fx and stick to free floating ones - at this time, I got about 28 tickers comprised of non exotics- eur, usd, jpy, cad,nzd,gbp and aud 2) turn off auto trade from 10pm EST till 7amEST. Even though the autotrade spits out 2 orders after a fill, --a profit and a stop order, I resolved to turn it off when I am in bed. Any other pointers would be appreciated. Thanks.

 

[ETcallhome]

Thanks onemoreshot and etcallhome. I usually do that with US stocks but as an Fx newbie,am not good enough to know what to ignore and what to stand aside for- so many news sources- mostly overseas. I have an auto system which was about to go live last year 2 days before the CHF debacle.. now I am dusting it off (time heals fear i guess like pain of childbirth..lol) and learning as much as I can to avoid being caught in that kind of black swan. Thus far, I've resolved to do the following.... 1) don't trade any artificially pegged fx and stick to free floating ones - at this time, I got about 28 tickers comprised of non exotics- eur, usd, jpy, cad,nzd,gbp and aud 2) turn off auto trade from 10pm EST till 7amEST. Even though the autotrade spits out 2 orders after a fill, --a profit and a stop order, I resolved to turn it off when I am in bed. Any other pointers would be appreciated. Thanks.

just because a currency isn't pegged doesn't mean it won't be. chf was not pegged until one night with no warning and then the same thing happened when they broke the peg. also, I would avoid that NZD during the afternoon the spread becomes untradable.