Scalping system #1 (Economic news releases)

Hey Edward,

Thank you for the strategy. Recently, I've started to use it on a demo account and it works well. What is your opinion on Olsen's scale of market quakes? How are we supposed to implement it in your strategy?

Thanks in advance!

All the best from Vienna,
Rumen

usa clients can't be short and long same time. this 07 post is way outdated

very nice

best news ever
unemployment reports and interesting rates Aud cad nzd

The market prepares for the news. Some orders are put in, some reset, some taken out.
We too place orders 15 ahead - so our actions also count.

Hi guys,
Sounds interesting, but I still have question, is there some way how to now exact time when news will be released? Asking because have tried several calendars (mostly having same time of news release) but it happens not so rear that market fluctuates some 20 minutes before news release time shown in calendar. So I can't catch "price jump". As from strategy I have to enter orders only 15min before.
Maybe we should create orders some half an hour before schedule? And after 15 minutes if no order has triggered update prices?
Of course we can treat it as bonus if we follow Dean's strategy :D (page 2) but I'm about original one.

thanks for the info

I tried scalping on a demo account just after the quantitative easing news - the market jumped by 150 points in a second and I had 2 open trades and didn't have enough time to close them in profit and it resulted in a slight loss. Then I shorted the USD to try to make up for the bounce down and tried adding a hedge to the spread bet and my account got stuck and again ended up making a loss even though I guessed the market right both times.

Okay, a question: if your first Buy and Sell orders weren't hit, how do you plan to re-set them? Put them closer or so?

I think orders should simply stay on.

Jeff

Supposedly there are multiple news release that are of high to medium importance, i set 1 buy and 1 sell trade 15 mins after release of the first news. Both trades doesnt get triggered and soon, the second news is released. So should i cancel both inital trades, and set 1 new buy and 1 new sell order based on the second news release?

some news are more important than other, some are "useless" and don't move prices at all.
To follow the news calendar go to: http://www.forexfactory.com/calendar.php
To read about news trading and other stuff go to: http://www.forex-fundamental-analysis.com/news_trading/04/

Jeff

Hi

I have tried out the entry after 15mins strategy. It works great when there is only like 1/2 major news coming out for the day. I find that on days when there are multiple news release, the strategy doesnt work. Any comments?

Hi guys.Can you tell me when they are publish the news?Is it everywhere at same time??thanks
Marek

Hi Steven,

there are no such guidelines known to me.
While scalping, traders, as a rule, look to evaluate how many pips on average every entry on a certain currency pair in able to produce, and then they would pick the most certain low risk number as their profit target.

Best regards,
Edward

Steven, yes after £5 or less or more sounds like a great idea....

Hi i am very new to trading..indeed a total amateur..with regard to scalping and placing orders in both directions is there a guide as to when i should take profit..ie after £5 or less or more...any advice would be appreciated

steven UK