funny i do not get notifications of your posts!
Trading Forex
- Thread starter padutrader
- Start date
if there is set up during news time trade it.....any way you are learning....and you may learn something when trading at that time.....when you are learning trade everything...and record all experiences good and bad for later evaluation....which set ups worked which did not.
i am trading live and not in learning phase so i wait till i am sure ....i now only trade 10% of the time i used to trade, when i was learning... or even less
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Thank you padu for the response. You absolutely right. I'm in sim, learning, practice mode, so seeking edge, I should be taking anything that is a qualified setup and recorded the data and review.
I have so far recorded and journal nearly 400 trades, and still defining my trade management. Entries method is pretty much solid, but trade management still needs work and practice and some data to prove I can make consistent money. Stop loss placement still needs some work as well.
It is a lot work trading. Eyes have to be glued to what price is doing.
Recently I did some study and research on multiple time frame analysis trend alignment to increase my win rate while trading my 3 minute chart. But for now, smaller time frame is where I see better.
Recently I did some study and research on multiple time frame analysis trend alignment to increase my win rate while trading my 3 minute chart. But for now, smaller time frame is where I see better.
Padu - you can do what you want because it's your money so ultimately it's your rules.
The only reason I'm posting this is because I don't want you to lose money on a gamble trade. Trading before any news event is a 50-50 shot at best ( RED or Black)
The reason is simple - you can be right in your analysis and prediction on how the news will break ( positive or negative ) but what you
will never know is "HOW" the market will react to the news. Unless of course you have inside information - That's a whole different story
Every firm I ever traded at had this same rule never trade before the news. There will always be another trade so why assume the extra risk of a news trade where you can potential lose more than your stop price. News Spikes are very Costly when your on the wrong side of them.
Trade Wisely!
322170
The only reason I'm posting this is because I don't want you to lose money on a gamble trade. Trading before any news event is a 50-50 shot at best ( RED or Black)
The reason is simple - you can be right in your analysis and prediction on how the news will break ( positive or negative ) but what you
will never know is "HOW" the market will react to the news. Unless of course you have inside information - That's a whole different story
Every firm I ever traded at had this same rule never trade before the news. There will always be another trade so why assume the extra risk of a news trade where you can potential lose more than your stop price. News Spikes are very Costly when your on the wrong side of them.
Trade Wisely!
322170
you can adjust your position size........to suit your risk profile.....
as long as you can read the technicals you have a opportunity.
i trade when there is maximum liquidity
i refuse not to do something just because 'everyone ' says not to do it.
if it makes sense to me i will do it
i have seen that as long as i aim to make little profit... i make a lot
once i get convinced that i can make a lot of money, a lot of money usually goes away
once i get convinced that i can make a lot of money, a lot of money usually goes away
I agree with this padu. We (us small retail traders) can not move the market. Our prediction can be right, by why risk when we both know at the time of news, price will go one way or the other.
Best to increase odds of a win, and wait to trade after the news. Not to mention price jumping your stop loss
do not listen to all the bullshit
never trade the news
if you trade it you will find out...you are trading demos
what does it matter.
i learnt it
why cant you?
always trade the technicals
trade everything in demo
not in live ..until you learn
if not how will you learn..