samuelhogg
Well-known member
- Messages
- 259
- Likes
- 5
Hi
In this months CurrencyTrader mag it mentions that the top report for moving the market (avg 130 pips) is the ISM figures. These are out today at 3pm.
Whats the consensus regarding these? Going long or short?
Samuel
In this months CurrencyTrader mag it mentions that the top report for moving the market (avg 130 pips) is the ISM figures. These are out today at 3pm.
Whats the consensus regarding these? Going long or short?
Samuel
rav700
Senior member
- Messages
- 2,170
- Likes
- 71
rav700 said:
I am out again at +8 that will do........am now waiting for the ADP and ISM and I am not going to trade the news.....One of Rav's Commandments...Will wait for the cable to trend and then I will take my position..
+28 pips for the day is not a bad start I guess for a market that has ranged 49 pips only..
Happy Trading
Rav
Interesting, just checked some other data from fxengines (they have a news driven autotrade platform) and their report on the ISM for cable suggests it's one of the weaker market moving releases. They grade it a 2 star on cable (out of 5), with an average max pips move of 51. The data covers about 18 months (i think) up to July '06.samuelhogg said:
Personally, if i know a report is due and i'm in a trade i'm glued to the screen more to move a stop or two when there's decent momentum. I've given up trying to predict direction and i rarely try to enter a trade right on the release.
trendie
Legendary member
- Messages
- 6,875
- Likes
- 1,433
there are problems with the big moves caused by news.
namely: how much is already factored into the price?
the big moves may be caused by traders/analysts being wrong-footed (different to expectations), not by the news itself.
also, how many times does the news cause a spike, which then returns to the original trend.
how many times does news result in a genuine change of trend?
data spikes, by themselves, are irrelevant.
its how traders react to them.
( I still regularly lose to news, irrespective of direction
)
namely: how much is already factored into the price?
the big moves may be caused by traders/analysts being wrong-footed (different to expectations), not by the news itself.
also, how many times does the news cause a spike, which then returns to the original trend.
how many times does news result in a genuine change of trend?
data spikes, by themselves, are irrelevant.
its how traders react to them.
( I still regularly lose to news, irrespective of direction
)Offshore Trader
Established member
- Messages
- 854
- Likes
- 5
Having been long at 77 this morning a bit annoyed to have missed out but had a really good run lately so breakeven is not a bad way to break the sequence. I'll be leaving it alone now until tomorrow.
Offshore Trader
Established member
- Messages
- 854
- Likes
- 5
JER08 said:Exited long 9133, +340 pips.
That's a stella trade JER08, go away and count your money :!:
Offshore Trader
Established member
- Messages
- 854
- Likes
- 5
rav700 said:
I was long this morning and on the first move above the figure moved my stop to breakeven. The move down at 1.15 took me out. I was expecting/hoping for a move above 19115 but didn't expect the move down first. I really only look for the 30 point plus moves so wouldn't normally take profit on less than that. Great days last Thursday and yesterday, so I'm not bothered really.
What I meant is that it is annoying in hindsight when the market takes you out and then does what you were hoping later on.
Last edited:
rav700
Senior member
- Messages
- 2,170
- Likes
- 71
Offshore Trader said:
Well I guess today has just been one of the days...........for both me and you ..
I am up about 28 pips for the days and I was a bit busy for the ISM.....so I missed out on the move , but I too will clock out for tonight
Happy Trading
Rav
rav700
Senior member
- Messages
- 2,170
- Likes
- 71
Well well as much I would walk away from the screen I just can not seem too..
Over the last couple of weeks well to be the honest the whole of october has really done my head in with regards to the dow as I am a natural bear by definition of trading I have had many shorts open and all the dow has done is nothing but eat them up...now when I see the dow falling bit by bit it eats me up.
I guess the soothing factor for me is trading cable as I seem to make very minimal losses well to be honest 8 trades in a row I think without a loss....but hence cable pulls me back to itself just to make up the points lost on the dow.....
Any way enough for me....
Night trading begins for me...
I tend to make atleast 10-15 pips a night without much of an issues and I do tend to post my trades on our cable threads..I mainly tend to set and forget....it seems to work pretty well..
Tonights range :
LV=9084
HV=9135
RV=51
SL= RV/2=25
My order are in and are will be closed at 8:00 tommorow morning
Order 1-which has been filled
Long@ 1.9086
Stop@ 1.8061
Target@ 1.9096
£.p=30
Happy Trading Rav
Have to get something to eat ........
Over the last couple of weeks well to be the honest the whole of october has really done my head in with regards to the dow as I am a natural bear by definition of trading I have had many shorts open and all the dow has done is nothing but eat them up...now when I see the dow falling bit by bit it eats me up.
I guess the soothing factor for me is trading cable as I seem to make very minimal losses well to be honest 8 trades in a row I think without a loss....but hence cable pulls me back to itself just to make up the points lost on the dow.....
Any way enough for me....
Night trading begins for me...
I tend to make atleast 10-15 pips a night without much of an issues and I do tend to post my trades on our cable threads..I mainly tend to set and forget....it seems to work pretty well..
Tonights range :
LV=9084
HV=9135
RV=51
SL= RV/2=25
My order are in and are will be closed at 8:00 tommorow morning
Order 1-which has been filled
Long@ 1.9086
Stop@ 1.8061
Target@ 1.9096
£.p=30
Happy Trading Rav
Have to get something to eat ........
Last edited:
Hi guys,
Just wondered if someone could post a 15min chart of yesterday's action, preferably metatrader. As you know I've been sim trading a strat and yesterday placed my order long from 1.9086, stop 1.9062, and limit profit at 91.25. (Initially fancied a re-test of 9145 too but have been let down before so stemmed my greed!)Then went off to bed, as we're 13 hours ahead of GMT at the moment
I was filled nicely for a 39 pip profit on the spike, and just wondered if all was well with this trade on a "real" chart? I'm sure it is but I'd appreciate the comparison to make sure I'm not being conned!
Cheers
Q
Just wondered if someone could post a 15min chart of yesterday's action, preferably metatrader. As you know I've been sim trading a strat and yesterday placed my order long from 1.9086, stop 1.9062, and limit profit at 91.25. (Initially fancied a re-test of 9145 too but have been let down before so stemmed my greed!)Then went off to bed, as we're 13 hours ahead of GMT at the moment
I was filled nicely for a 39 pip profit on the spike, and just wondered if all was well with this trade on a "real" chart? I'm sure it is but I'd appreciate the comparison to make sure I'm not being conned!
Cheers
Q
