3 Responses to “PRE LONDON OUTLOOK OCTOBER 6TH”

1. on 06 Oct 2008 at 2:27 pm1Nice

   Thanks David for this video
   I’m over 300 pip’s in profit and still in this trade

2. on 07 Oct 2008 at 5:07 am2J

   Hello, could a fellow BootCamper come to my aid…. I have just applied the news trade strategy on the AUD/USD news break, (Rate cut of 1 full point). As you saw the 100 plus pip break. I waited for the pull back of the next candle, checked the calendar to see the results and quickly upon that candle entered and got a price of .7010. To my amazement I was at a negative 121 pips when the order was filled…… and my chart was reading very close to the entry price. My question is how and why and most importantly. Is this going to happen again……I realize a full point cut is extraordinary and some slippage is expected. But I thought by waiting a full minute candle I would be avoiding this kind of thing…… Please advise how now to continue with this kind of a news trade strategy???
   Singed one bummed boot camper.

3. on 07 Oct 2008 at 12:15 pm3Wayne McDonell

   1 min is often enough, but I almost always have to wait 3 - 5 mins before I can get a pull back entry after a news event, such as the last NFP. You may have been in too early… I don’t know.

   In any case, I think what you are saying is that you did get such a setup and pull the trigger and were immeditately -121. Although its hard to believe, it may have been the spread charged by your broker.

   In the end, you have learned that trading such news events is extremely risky, even with a proven setup. Rate cuts are even more risky, as they are important and unpredictle. Its not like a CPI event, therefore IF you are going to trade it, reduce your lot size to compensate for your additional risk.

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