Trading the News 0 for 8
by Trader Rich
| Week # | Pip P/L | Gross P/L | Total # of Trades | Total Winning Trades | Total Losing Trades | Total Even Trades | Avg. Winning pips | Avg. Losing pips |
| 1 | 58 | $58 | 2 | 2 | 0 | 0 | 29.0000 | |
| 2 | 22 | $22 | 5 | 2 | 3 | 0 | 20.5000 | -6.3333 |
| 3 | -51 | $-51 | 4 | 0 | 4 | 0 | -12.7500 | |
| 4 | -21 | $-21 | 2 | 0 | 2 | 0 | -10.5000 | |
| Total | 8 | $8 | 13 | 4 | 9 | 0 |
As you can see from the results above, automated trading via FXEngines is almost back to breakeven. I have not had a winner since the 6/15 Initial Claims report. That makes it 0 wins in the last 8 trades.
Just to refresh your memory, I deposited $1000 into a mini-account in early June to see what type of potential this platform had. So far I'm less than impressed but who can you blame? 4 weeks aren't enough to test the waters with this platform and there just haven't been any quality spikes during news releases this month. I'll continue to perform news trades until I deem it unprofitable for me or until I run out of the $1000. Hopefully this won't happen.
William, I wish I could fire up newsstrike but I’m in corporate hell (full-time job) and I can’t sit at my desk and trade unfortunately. If I could I most definitely would. I remember a while back when I was off for a week and decided to trade the news manually, it was actually quite “doable” and potential for profit was there.
Hi Wim, Your trading 100 standard lots!?! Wow, I’m small time compared to that.
[quote]William, I wish I could fire up newsstrike but I’m in corporate hell (full-time job) and I can’t sit at my desk and trade unfortunately. [/quote]
I know what you mean. Luckily my “real day starts at 8:30 central so I can catch the 7:30 New York releases.
Maybe someday FXEngines will let you set engines based on triggers based on an expected number. I can deream can’t I? :laugh:
Rich, I tried FXEngines but I really like the control of manual newstrading.
Why not try a newstrade with newsstrike and see what you think (just do it on paper if you’d like).
Thursday is the US GDP. Fire up newsstrike before the release and either use Felix’s triggers or create your own (expected is 5.6%). Listen for the news and you’ll see newsstrike is pretty fast. If the variance is enough, do your buy or sell based on your trigger. Even if you’re not comfortable doing a trade on it, at least watch it and see what you think.
I do a little techinical trading now but almost stick exclusively to manual news trades and have pretty decent success with. Of course there’s a lot less trades per week but a lot more winners than losers.
Hi rick,
How are you doing?
Pfff, traded 100 standard lots at Oande, scary business. 20 pips more and Iwas stopped out for a more than serious loss, how can I do this…(eur/usd). A bit overleverging I guess? How can I be so stupid??
Went home taking 5K, nice money but if it went wrong….went home taking a 30K loss
I hope this is a good lesson for me . Don’t me the same foolish mis. sometimes I feel a fool
ps, nice website rick.
best,
Wim
Hi Rick
Forgot to say,
Oanda platform execution is fenomenal, never had a requote and did lot of trades already.. Wohaa
FXCM:laugh: A big joke as all the other platforms.
You have those who chrashes, those woh reqoute and then you have the others like Oanda…
Ps; Making a big fat 2.5% on my account balance interest. Not big money but what broker offer this???
Good trading Rick. All My best.
Wim