I have $100 on Oanda. I want to lose it or double it as quickly as possible.

DDR · Jul 17, 2017

algofy said:
This is a really dumb question.

Apparently the person asking the question doesn't agree with you, as for the other posters I think they just couldn't help themselves lol

pursuit · Jul 17, 2017

stevegee58 said:
Just my opinion/observation: Oanda has always been transparent and doesn't play games with requotes, etc.

In OP's case he's literally gambling so getting in/out with precision isn't important but keeping expenses low is. Make a guess about whether the market will settle higher or lower after the news event. Buy or sell as appropriate a few minutes before the event when spreads are narrow. During the news event spreads will be wide. Wait. When the event is over and spreads have narrowed again, close the position. You either won or lost.

I like this plan. How much should I go in for though? Given Oanda's margin operating procedures. I don't want margin to kick me out prematurely.

Turveyd · Jul 17, 2017

Might aswell, just go small, use $20 of Margin if possible, so you'll be Called out at $20 area, which means you can take a pretty big move against you, but need a big move for 100% ofcourse.

But in no rush really, set the TP order up and wait and see.

Try to get onto the longer Trend ofcourse, to improve your odds on the profit side.

Turveyd · Jul 17, 2017

Or you could go $40 with multiple positions and set SL's to exit as the margin approaches, so you don't get margin called out, till your at your lowest possible margin size and unable to trade at all.

doggyfx · Jul 17, 2017

QuasWexExort said:
Max your leverage long or short flip a coin before the next high impact news release for whichever pair you can trade.

https://www.dailyfx.com/calendar

Let me make add some improvement, though. TS may try using news straddle which increases his chances to double the profit. Providing that broker is honest and execute trades during news release

pursuit · Jul 17, 2017

doggyfx said:
Let me make add some improvement, though. TS may try using news straddle which increases his chances to double the profit. Providing that broker is honest and execute trades during news release

I like. Straddle with limit orders or market? Limit, right?

stevegee58 · Jul 17, 2017

Straddling before a news event with opposite orders doesn't work due to the sudden widening of the spread. You'd be just giving your money away.

algofy · Jul 17, 2017

stevegee58 said:
Straddling before a news event with opposite orders doesn't work due to the sudden widening of the spread. You'd be just giving your money away.

Isn't that the idea?

CaptainObvious · Jul 17, 2017

Craps table. Bet the Don't Pass. You may even have time to order your free drink brought to you by a scantily clad young lass. No broker can match that. Better yet, bet ten bucks a shot on box cars. One hits you'll triple your hundo.

algofy · Jul 17, 2017

CaptainObvious said:
Craps table. Bet the Don't Pass. You may even have time to order your free drink brought to you by a scantily clad young lass. No broker can match that. Better yet, bet ten bucks a shot on box cars. One hits you'll triple your hundo.

See that's what I'm talking about.