News Trade Losing Becoming Consistent
by Trader Rich
New Home Sales report was released at 10 am EST. My FXEngine automatic trade was initiated and lost again. There was an initial spike down but my moderate rated trade got in at the very bottom of the spike. I lost 9 pips.
I actually almost canceled my automated news trade today but opted to decrease the contract to 1 to see what might happen. I really didn't expect a trade to even go off but unfortunately it did. Today may have been a day to use the conservative engine which may not have gone off.
In the 4th week of news trading, I'm at +20 pips total. I'll continue with this in hopes of catching one of those news trades that is a really big 1 way mover.