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__________________
Enroll in our online FX Power Course today and get personalized instruction from our team of expert traders 24 hours a day. We have taught over 25,000 students and in just eight lessons, we will teach you the fundamentals of Forex trading. Click here to get more information.
__________________
Enroll in our online FX Power Course today and get personalized instruction from our team of expert traders 24 hours a day. We have taught over 25,000 students and in just eight lessons, we will teach you the fundamentals of Forex trading. Click here to get more information.
hI. This probably isnt the best place to ask this questiuon but since you talk about trading news releases, its convenient for me to ask. first off, im a newbie and i trade micro accounts with chump change and am practising the basics. after reading a couple of opinions on how not to lose money, i have come across one salient theme: dont trade the news; reasoning on unexpected reversals and a bunch of other claims.
but since you guys (dailyfx) seem more reputable, I though Id ask you: I want to develop a system based entirely on trading the news. Is it possible? Lately I've been looking at the dailyfx calendar and watching the outcomes closely on the curreency for which news releases noted as having high impact. my simple question is, is it possible (with some training of course), is it reasonable, is it sensible to expect to scrounge a little profit trading the news? Or is it not possible however skilled you are? Of course, if it is possible, then Im going to be giving trading high impact news releases some more effort.
thankyou
Trading news releases is always a tricky situation since the market's reaction to a given event will be different each time. Ex. the upcoming NFP report is expected to show the economy lost over 150,000, that many job losses typically would be a negative, but given the fact that 250,000+ in job losses has been the norm for over a year, it may be viewed as a positive. Then take into consideration that positive U.S. data has actually been negative for the dollar as it has been highly negatively correlated to equity markets. Yet, the two biggest improvements in the employment report over the last year have lead to dollar support. Therefore for any release, the results must be taken into account along with its significance, the prevailing environment and current trends.
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John Rivera is the author of Market Brief, Top FX Headlines, and Forex Trading Weekly Forecast on DailyFX.com.
Trading news releases is always a tricky situation since the market's reaction to a given event will be different each time. Ex. the upcoming NFP report is expected to show the economy lost over 150,000, that many job losses typically would be a negative, but given the fact that 250,000+ in job losses has been the norm for over a year, it may be viewed as a positive. Then take into consideration that positive U.S. data has actually been negative for the dollar as it has been highly negatively correlated to equity markets. Yet, the two biggest improvements in the employment report over the last year have lead to dollar support. Therefore for any release, the results must be taken into account along with its significance, the prevailing environment and current trends.
Excellent point John. We always tell new traders in our DailyFX courses that predicting the economic number is one thing, but predicting the market's reaction is another. Sometimes they just don't make sense and you have to be prepared for that. The losing game is speed, you just cannot get into or out of a trade fast enough to be consistently profitable. But they are some strategies that take advantage of those who try to hit that buy or sell button before others do. Here is a link to one such approach to trading the news:
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Enroll in our online FX Power Course today and get personalized instruction from our team of expert traders 24 hours a day. We have taught over 25,000 students and in just eight lessons, we will teach you the fundamentals of Forex trading. Click here to get more information
__________________
Enroll in our online FX Power Course today and get personalized instruction from our team of expert traders 24 hours a day. We have taught over 25,000 students and in just eight lessons, we will teach you the fundamentals of Forex trading. Click here to get more information.
__________________
Enroll in our online FX Power Course today and get personalized instruction from our team of expert traders 24 hours a day. We have taught over 25,000 students and in just eight lessons, we will teach you the fundamentals of Forex trading. Click here to get more information.
Many times, the first week of the month from Tuesday to Friday morning offers good scalping opportunities. Reason being, the economic calendar is typically littered with high potential market moving events. Therefore, the larger players wait to initiate positions AFTER the releases and once the week has ended.
The good news is that support and resistance levels offer good trading opportunities to get in and get out.
Keep a calendar of the events handy so you can beware of short term volatility that may creap up.
Here are some simple support and resistance lines I posted about 1 hr ago. The lines may no longer be valid since we have traded away from a couple of them.
Updates to the charts are below. It looks like the EURUSD was the best one, though all have moved favorably thus far. Support is approaching on GBPUSD and AUDUSD.
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Enroll in our online FX Power Course today and get personalized instruction from our team of expert traders 24 hours a day. We have taught over 25,000 students and in just eight lessons, we will teach you the fundamentals of Forex trading. Click here to get more information
*Past performance posted by Signal and Systems Providers (“Providers”), is not necessarily indicative of future results. No representation is made that any account is likely to achieve profits or losses similar to those shown. In fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particularly trading program. The composite monthly results are primarily hypothetical results of the master demo and its representation of the Providers, though performance results displayed may represent a combination of live and hypothetical results and are not exclusive to either. There are numerous other factors related to markets in general or to the implementation of any specific trading program that cannot be fully accounted for in the preparation of hypothetical performance results and all of which can adversely affect actual trading results. In the event that specific trades were simultaneously executed in hypothetical and live, real-time trading, the lesser of the two results will be displayed. There is no guarantee that one applying these methodologies would have the same results as the hypothetically posted. Since trading successfully depends on many elements including but not limited to a trading methodology and a trader's own psychology, the web site does not make any representation whatsoever that the above mentioned trading systems might be or are suitable or that they would be profitable for you. Please realize the risk with any investment and consult investment professionals before proceeding. The trading systems herein described have been developed for sophisticated traders who fully understand the nature and the scope of the risks that are associated with trading. Should you decide to trade any or all of these systems' signals, it is your decision.
Links to third-party sites are provided for your convenience and for informational purposes only. Forex Capital Markets LLC bears no responsibility for the accuracy, content, or any other matter related to the external site or for that of subsequent links, and accepts no liability whatsoever for any loss or damage arising from the use of this or any other content. Such sites are not within our control and may not follow the same privacy, security, or accessibility standards as ours. Please read the linked websites' terms and conditions.
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Enroll in our online FX Power Course today and get personalized instruction from our team of expert traders 24 hours a day. We have taught over 25,000 students and in just eight lessons, we will teach you the fundamentals of Forex trading. Click here to get more information.
hope everybody is having an okay weekend.. and sean hope your enjoying your trip..
can anybody please advice me on how to use pivot points and moving averages for scalping?
i currently use rsi and slow stochs to get a feel of momentum and direction on 5min charts and 1min charts for scalping.. i know that our indicators are lagging, but what settings would you recommend (that would give me a better picture of what might happen)
hoping for suggestions i can try out and study..
thanks all
hey there... try the 5min moving averages strategy which is available in lesson 3 of your Day Trading course, page 36... this is a very reliable strategy but don't get impatient... the cycles do take hours and make sure you try to have a limit between 20-25 pips because it will reverse to the other direction once the cycle has peaked... good luck
hey there... try the 5min moving averages strategy which is available in lesson 3 of your Day Trading course, page 36... this is a very reliable strategy but don't get impatient... the cycles do take hours and make sure you try to have a limit between 20-25 pips because it will reverse to the other direction once the cycle has peaked... good luck
Yes, we should stick to the strategy rules as closely as possible. The main benefit of trading a system with specific rules is that the decision making process has been removed. Things have already been decided for you.
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Enroll in our online FX Power Course today and get personalized instruction from our team of expert traders 24 hours a day. We have taught over 25,000 students and in just eight lessons, we will teach you the fundamentals of Forex trading. Click here to get more information.
Hey, I am not new to forex but I don t do a lot of scalping,
HOw long do you guys hold your positions on average?
It will vary dramatically depending on market conditions and the price target. Sometimes that can be achieved in seconds, minutes or longer...if it is achieved at all.
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Enroll in our online FX Power Course today and get personalized instruction from our team of expert traders 24 hours a day. We have taught over 25,000 students and in just eight lessons, we will teach you the fundamentals of Forex trading. Click here to get more information.
Many times, the first week of the month from Tuesday to Friday morning offers good scalping opportunities. Reason being, the economic calendar is typically littered with high potential market moving events. Therefore, the larger players wait to initiate positions AFTER the releases and once the week has ended.
The good news is that support and resistance levels offer good trading opportunities to get in and get out.
Keep a calendar of the events handy so you can beware of short term volatility that may creap up.
Here are some simple support and resistance lines I posted about 1 hr ago. The lines may no longer be valid since we have traded away from a couple of them.
Updates to the charts are below. It looks like the EURUSD was the best one, though all have moved favorably thus far. Support is approaching on GBPUSD and AUDUSD.
Jeremy, what is the CC indicator on your chart and what is the equivalent on Market Scope? Thanks
Jeremy, what is the CC indicator on your chart and what is the equivalent on Market Scope? Thanks
It is the Commodity Channel Index or CCI. I use a 14 input setting on scalping trades and look for patterns and trend line breaks.
__________________
Enroll in our online FX Power Course today and get personalized instruction from our team of expert traders 24 hours a day. We have taught over 25,000 students and in just eight lessons, we will teach you the fundamentals of Forex trading. Click here to get more information
*Past performance posted by Signal and Systems Providers (“Providers”), is not necessarily indicative of future results. No representation is made that any account is likely to achieve profits or losses similar to those shown. In fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particularly trading program. The composite monthly results are primarily hypothetical results of the master demo and its representation of the Providers, though performance results displayed may represent a combination of live and hypothetical results and are not exclusive to either. There are numerous other factors related to markets in general or to the implementation of any specific trading program that cannot be fully accounted for in the preparation of hypothetical performance results and all of which can adversely affect actual trading results. In the event that specific trades were simultaneously executed in hypothetical and live, real-time trading, the lesser of the two results will be displayed. There is no guarantee that one applying these methodologies would have the same results as the hypothetically posted. Since trading successfully depends on many elements including but not limited to a trading methodology and a trader's own psychology, the web site does not make any representation whatsoever that the above mentioned trading systems might be or are suitable or that they would be profitable for you. Please realize the risk with any investment and consult investment professionals before proceeding. The trading systems herein described have been developed for sophisticated traders who fully understand the nature and the scope of the risks that are associated with trading. Should you decide to trade any or all of these systems' signals, it is your decision.
Links to third-party sites are provided for your convenience and for informational purposes only. Forex Capital Markets LLC bears no responsibility for the accuracy, content, or any other matter related to the external site or for that of subsequent links, and accepts no liability whatsoever for any loss or damage arising from the use of this or any other content. Such sites are not within our control and may not follow the same privacy, security, or accessibility standards as ours. Please read the linked websites' terms and conditions.
Disclaimer: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts. Any opinions, news, research, analyses, prices, or other information contained on this website is provided as general market commentary and does not constitute investment advice. Forex Capital Markets LLC. will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
