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  • #27,761
  • Nov 8, 2013 5:10am Nov 8, 2013 5:10am
Quoting morfasie
Just a question, is scalping wrong or acceptable, if you get a broker that allows it?
?? Show me a broker that DOESNīT allow it? Whats wrong with scalping? I do news scalping all the time. Sure, proīs donīt usually condone it, but if you are good at fundamentals and use proper MM, it can be easy money.
  • #27,762
  • Nov 8, 2013 5:17am Nov 8, 2013 5:17am
good morning to all,
i'm very disapointed if i dont take the good direction im finish for forex my account will be going to 0
can you help me,
for you where going gold after nfp
plaese help
thanks!!!!!!!!!!!!!!
  • #27,763
  • Nov 8, 2013 5:18am Nov 8, 2013 5:18am
Quoting leedicky93
For coming news later Non-farm employment , Should i set a pending order to play with the news or it's better to leave it alone and just let it up and down then only enter order ? =] I am curious about when news coming , everyone is stepping out of it and just waiting it to fly up and down and never tot of putting and pending order yet ? . Can anyone help me out ?

You could try scalping with demo account first. If it turns out you have good intuition and understanding of fundies and you can scalp with profit, you can start trying with real money but small lot sizes. If that goes well too, you can increase lot sizes. But always have proper money management. Iīm still contemplating about NFP today, but considering there was a government shutdown last month, I really donīt see how numbers can turn out to be positive.
  • #27,764
  • Nov 8, 2013 5:40am Nov 8, 2013 5:40am
What currently I am understanding about news is , they will bring us marry go around but with blindfold in our eyes . So, I guess because of this reason many of them rather stepping out from news . By the way , I am just thinking since its jumping for around 10 usd could I set a pending for it and just grab around 5usd will be fine anyway
  • #27,765
  • Nov 8, 2013 5:48am Nov 8, 2013 5:48am
Quoting sasastephe
good morning to all, i'm very disapointed if i dont take the good direction im finish for forex my account will be going to 0 can you help me, for you where going gold after nfp plaese help thanks!!!!!!!!!!!!!!

if the news will be reported bad the Gold will go up, if good - down

I would prefer not to trade at all untill the market will be settled down after the news
  • #27,766
  • Nov 8, 2013 6:08am Nov 8, 2013 6:08am
which has the bigger impact on the news? unemployment rate or NFP?
  • #27,767
  • Edited 6:14am Nov 8, 2013 6:13am | Edited 6:14am
And lets take a punt that the news should be bad with recent US gov closed for business debacle, so although i agree xau is in a downtrend short term, this news should change everything and i will be long with kadc, giacatdu and okanemici
See my previous post i am long from 1305
I do expect another push lower to clear stops then rocket north, but with current stable prices it could pause and lift off
an incredible amount of news at 13.30 gmt
all the best fellow traders
  • #27,768
  • Nov 8, 2013 6:15am Nov 8, 2013 6:15am
pipcenturion was that a real account? seriously great entry, and did you see mine at the 1297 mark

where for art thou xtrade
  • #27,769
  • Nov 8, 2013 6:21am Nov 8, 2013 6:21am
Quoting eugenyk
{quote} if the news will be reported bad the Gold will go up, if good - down I would prefer not to trade at all untill the market will be settled down after the news

good idea - wait till the volatility has subsided and a direction becomes clear.

my rule of thumb is: only trade what you know. Right now there is no way to know what the data will be and what the market reaction will be. Nevermind the reaction and subsequent direction, we don't know how much volatility there will be before the release moment... will large institutions start positioning or perhaps start closing positions? how far will that move price before the data is even released - $5 ?, $20 ?

At the moment of release there is also sometimes a spike and then a strong reversal - not every time - but point is we don't know all these things - so don't risk a trade before major news/data. Even if you knew exactly what the data contains, you don't know what the pre-release PA and reaction PA is going to be like - it could wipe you out in the starting block - there will be plenty of pips after the fact and the initial reaction to the fact has played out.

Good Luck all
cryptocurrency everytime
  • #27,770
  • Nov 8, 2013 6:28am Nov 8, 2013 6:28am
@ twinkelstars
I suggest you trade with alpari nz, or pepperstone they offer very low spreads and low capital startup
alpari-forex.com or pepperstone.com
i trade with them for years now, reliable and especially alpari nz they offer loads of options for demo accounts, training/ learning. start yourself a myalpari account you wont regret it. i had an account with instaforex, one of the worst i came across, dont just take my opinion research on forexpeacearmy or myfxbook broker comparison area, also search on this forum for broker comparison, you will come across a doc i update which was started by rooicol

we can help you if you give some more ideas of time frame you trade, ill show you one strategy you can use on any pair: here goes in as few words as possible..
H1 chart, look for reversal bars, that means a bar has to go lower than the previous and generally close above its mid level, its range has to be higher than 6 previous bars. it takes time to find the right bar, i can run a few by you over time so you dont make the mistake of trading all reversal bars.
By range i use ATR with a level of 1 (ie showing you range of one bar), research how to add and what it means
then wait for a confirmation, a bar closing beyond this signal bar, then enter trade
target is half ATR 100
then if the price pulls back before reaching target, enter a new trade near the low or at the open price of the confirmation bar then close both trades at the close of the confirmation bar, thus making a slight loss on trade 1 but a win on trade 2

example: see XAUUSD 14 oct 2013, 14.00 bar
this is a definate reversal, with range above 6 previous, wait for a bar to close above it and its a winner, there were not many good setups on this pair for a while, also see: 10am 21 oct, 21.00 22 oct etc there are a few it seems lol
thats my bit of charity for the week
i can post examples in the future just away from trading station this week
  • #27,771
  • Nov 8, 2013 6:32am Nov 8, 2013 6:32am
Quoting blacksnake
which has the bigger impact on the news? unemployment rate or NFP?
thats easy, it depends which result is more shocking, even a minor news event can move the market not only red news events are to be considered serious
  • #27,772
  • Nov 8, 2013 6:33am Nov 8, 2013 6:33am
Quoting venzen
{quote} It's really useful that your father has some trading experience and I hope he passes some knowledge on to you. As always, parents are concerned about the well-being of their children and want the best for them. This often ends up with fears and warnings about "the worst case scenario" - you have to understand and "manage" your parents in a way! However, for trading, fears and worries about mistakes is the wrong starting point for a positive, progressive, winning mindset. This is your responsibility and you must build this positive mind power...
hi venezen,
as you advised to "twinklestars"'s post i really appriciate your advise i am suffering the same as to the twinklestars so read it and thought it was just for me thanks for you advise i am trading for the last 3 years but no profit at the moment and blown couple of loaded accounts and my fear has increased and is on its high but can'nt leave trading so keep up advising thanks a lot,

mrmalik1
MRMALIK1
  • #27,773
  • Nov 8, 2013 6:55am Nov 8, 2013 6:55am
Quoting mrmalik1
{quote} hi venezen, as you advised to "twinklestars"'s post i really appriciate your advise i am suffering the same as to the twinklestars so read it and thought it was just for me thanks for you advise i am trading for the last 3 years but no profit at the moment and blown couple of loaded accounts and my fear has increased and is on its high but can'nt leave trading so keep up advising thanks a lot, mrmalik1
hi mrmalik1,


well, i'm glad it was useful to you. I'll PM you because I don't want to write too much off-topic (this is a XAU & XAG thread ).

Good Luck today
cryptocurrency everytime
  • #27,774
  • Nov 8, 2013 7:25am Nov 8, 2013 7:25am
Quoting JayPipin
@ twinkelstars I suggest you trade with alpari nz, or pepperstone they offer very low spreads and low capital startup alpari-forex.com or pepperstone.com i trade with them for years now, reliable and especially alpari nz they offer loads of options for demo accounts, training/ learning. start yourself a myalpari account you wont regret it. i had an account with instaforex, one of the worst i came across, dont just take my opinion research on forexpeacearmy or myfxbook broker comparison area, also search on this forum for broker comparison, you will...
JayPipin, Thank you!! ^____^
But the sad news, already deposited 100 to instaforex . Get 30usd bonus. I'll try win a bit here and I think I'll move to alpari
Em I don't really get it, what is ATR? what bar here u mean is the candlestick bar??
I need to relearn everything hahaha, sorry

@venzen, a thousand thankssss from Indonesiaaa to you in Thailand
  • #27,775
  • Nov 8, 2013 7:35am Nov 8, 2013 7:35am
Marry go around ~ =]
  • #27,776
  • Nov 8, 2013 7:35am Nov 8, 2013 7:35am
Ah! I Missed the NFP do u think it will bounce up???
  • #27,777
  • Nov 8, 2013 7:57am Nov 8, 2013 7:57am
Quoting KiwiOz
I am expecting another spike today with the NFP to around 1316, followed by a move to 1290. {image}
Just another day in the Golden office................
Attached Image (click to enlarge)
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Money Makes Money
  • #27,778
  • Nov 8, 2013 7:59am Nov 8, 2013 7:59am
Quoting KiwiOz
{quote} Just another day in the Golden office................ {image}

Nice one KiwiOz
  • #27,779
  • Nov 8, 2013 8:05am Nov 8, 2013 8:05am
2 Gold Sells executed like a boss

First sell was triggered over night at 1325 where I had my order placed, second was triggered at resistance overhead at 1313, think NFP maybe caused a spike.

My target is around 1280. Here is my analysis on the H1 chart.

Hight volume when price reached 1313 telling me there are a lot of orders around that area, and they must be sell orders, because as soon as price hit that area it dropped right away.

Updated Screeny
Attached Image(s) (click to enlarge)
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insideBars==boss
  • #27,780
  • Nov 8, 2013 8:10am Nov 8, 2013 8:10am
Quoting KiwiOz
{quote} Just another day in the Golden office................ {image}
Beautiful!! What is your next expectation? Thx
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