[sicktrader]

I have a system that is geared to the release of market moving news. After I just got crushed on today's employment report (thought I could get a least a 50 point drop in the euro), I realized something that maybe others have encountered. My data shows that my win percentage is the worst for the US news releases, actually so bad that I will now take a break on the US news. When I trade any other currency I simply trade it against the dollar. Works fine. When the US news is released, I now have a choice amongst all other currencies. Obviously not all the currencies react the same, so in this scenario may data has shown that some would win in my system and some would lose. It doesn't matter if the markets are open or closed. In fact, today I got crushed in the Euro but would have won in the Aussie. I was wondering if anyone else ever encountered this problem? I am going to hold off on trading the US news until further notice.

[DugDug]

i am not smart enough to work out if the market is going to react positively or negatively (OR positively then negatively OR negatively then positively ) to any news items.
Unless I have a global macro viewpoint its a game that I dont play deliberately.

[Tams]

Life is a journey of lessons...

[sicktrader]

Originally Posted by Tams »

Life is a journey of lessons...

True. All my lessons of late have cost me some serious cash. Then again, that's probably the only way to improve oneself. Still, I hope to be lessons free for the next few weeks.

[speres]

Originally Posted by sicktrader »

I have a system that is geared to the release of market moving news. After I just got crushed on today's employment report (thought I could get a least a 50 point drop in the euro), I realized something that maybe others have encountered. My data shows that my win percentage is the worst for the US news releases, actually so bad that I will now take a break on the US news. When I trade any other currency I simply trade it against the dollar. Works fine. When the US news is released, I now have a choice amongst all other currencies. Obviously not all the currencies react the same, so in this scenario may data has shown that some would win in my system and some would lose. It doesn't matter if the markets are open or closed. In fact, today I got crushed in the Euro but would have won in the Aussie. I was wondering if anyone else ever encountered this problem? I am going to hold off on trading the US news until further notice.

good, stay away from news for now. Pro's will use a good news release to unload their position, this is just 1 example.

[Tams]

Originally Posted by sicktrader »

True. All my lessons of late have cost me some serious cash. Then again, that's probably the only way to improve oneself. Still, I hope to be lessons free for the next few weeks.

Lesson #1
Those who do not learn their lessons are doomed to repeat them.

tips:
do not proceed to lesson #2 until you have learned lesson #1.

.

[randy1953]

I trade Forex and trade the news. It's really very simple. Okay first news truth "it makes no difference what the news is the market can go up or down" so do not try to predict the market or you will likely loose.
My method is on a 15 min chart wait until the candle is closed and open up a straddle trade with a 20 pips from price both ways when one becomes filled cancel the pending trade.

Only one rule if the currency your trading has moved at least 70 pips in the last hour do not trade. With this method I have a hit rate of 63%. Last Friday I made 80 pips trading the NFP of course it was very week and pretty much a non event.

If you want to trade the news it will pay to get a EA to manage your trades they are much faster than humans and will do just about anything you program into them.

Hope that helps
Happy trading
Randy

[BlowFish]

Whats your initial stop...20? maybe 40? Do you stop and reverse at 40 perhaps? Also wondering what you target. cheers.