Scalping system #1 (Economic news releases)
Submitted by Edward Revy on April 22, 2007 - 09:57.
Look for the important news to be released. Choose the most influential ones that are expected to shake the market well. Once got news (last can be found in any Forex economic calendar) find out which currency pair is going to be affected.
Now, 15 minutes before the data is released place buy/sell stop orders on both sides 15 pips away from the current price.
Read entire post >>>
I think placing two orders in opposite sides with only 15 pips away is risky, many brokers widening their spreads during news release to 20 & 25 pips of the current price.
Faisal
That's why Dean suggested to wait 15 minutes before placing any orders. By that time, hopefully, brokers ease on spreads.
Regards,
Edward
Sorry for being off topic, but what does Volume mean? For example, if I select 0.10 as Volume (in Meta Trader) what does that mean? 10 cents? Thank you. (I know the question is stupid, but I am a beginner)
There is such indicator as volume in Forex. It tells traders how heavily a particular currency pair has been traded at any moment. In other words, how interested traders were is selling and buying this pair, how active they were.
Volume is observed closely together with the price and simply gauges the "worthiness" of any particular price move.
It is nothing like you've mentioned in your question though.
Well, wanted to give some links to read further on about the volume indicator, but surprisingly, there isn't much information written about it online. Here is a quick one to go:
http://forex-indicators.net/volume-indicators/volume
Regards,
Edward
How can I get a wolfe wave indicator for mt4? The current one Im using is boghus.
We have this one:
Wolf.mq4
Regards
Thomas
Post new comment