Most suitable broker for news trading - Page 2
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Thread: Most suitable broker for news trading

  1. #11
    Seems like was suitable. Lately traded NZD cash rate. The prediction was that rates will be cut from 2.25 to 2.0. So I sold the rumor couple minutes prior to the launch. I also put pending buy order in the event the rates would be left the exact same and price would go up. So just prior to the launch, the price went down by 30 pips in my favour. Just to find out it was fake breakout prior to the launch and subsequently price went up by 100 pips in one minute. My pending buy order of course was not implemented and my stop-loss for market order was also ignored. Tried to manually shut the order but it had been rejected a lot of times untill the losses were 100 pips in which it didn't matter anymore. Lost 50% of my account in a matter of seconds. But what amazes me is that the rates were really cut but the NZD went up like a motherfucker. I'm sorry but where the fuck is logic in all of this? Since when the currency goes up when the rates are cut??

    Starting to think that trading following the news release will make more sense. The Same as MoneyZilla said. However, the problem is that I didn't observe any patterns and logic behind maket behavior just following the news release. Let's say after down enormous impulse, the market will be retracing for couple hours into the initial price prior to the news. But sometimes it will keep going down and won't retrace. It is like 50/50. Is there some egy trading just after the news? Perhaps there are a number of signs from price action that could tell us in which the price could go after the news release?

    Anyway, any suggestions for the following interest rate decision trade? Lol

  2. #12
    Dukascopy is a good pick, it is possible to give it a go. The only difficulty is will account opening, because its conduct by a bank that they also much strict when compared to other brokers. Goodluck

  3. #13
    Quote Originally Posted by ;
    Looks like was suitable. Lately traded NZD cash rate. The forecast was that rates will be cut out of 2.25 to 2.0. So I sold the rumor couple minutes prior to the launch. Additionally, I placed pending buy order in case the rates would be left the same and price would go up. The price went down by 30 pips in my favour. Only to learn that it was breakout prior to the launch and subsequently price went up by 100 pips in 1 minute. My pending buy order of course was never implemented and my stop-loss for sell order was...
    Trading news prior to launch is great way to eliminate all cash, better visit casino, there's more entertaining If you want to exchange news, do it 1 moment after launch, once you can measure risk. Rates cut was anticipated by market and was already in price, so it's nothing strange that market went up as it had been in upper trend. Should you exchange most significant news before launch you must expect 100 pips loss...

  4. #14
    In my opinion there is always a risk of erroneous of your bids throughout trading the news. And I think it is more secure as I have been told there is a chance of several brokers to trade with fixed spreads so that you may know your risks in advance and you will cease in time. I believe that good chance to Check your broker on trading the news is Brexit that is how you'd know if you anticipate or better go

  5. #15
    Hello,

    As a new member I can't start a thread so I'm posting this here: Last night I attempted trading the NZD Unemployment report and obtained slippage of about 300 pips (NZDUSD pair). I'm new to live trading however I understand 300 pips is completely unacceptable, even for a news event. I had used a Buy Stop order and it didn't get filled until the conclusion of the news event. In fact, according to the chart, price didn't even get to the point at which I had been filled, the difference being 70 pips. I ended up being stopped out at my original Cease Level for a loss of over 8 times my planned risk.

    So I have a few questions. Could this be a one off kind of thing? Can it be because it was a very slow period (start of the Asian markets)? If I devote my broker a second chance? If they feel obliged to reimburse me for such poor support? Is there anything that I should do about reporting them to someone?

    I emailed them and am still awaiting a response.

    Cheers

  6. #16
    Who is your broker CoalF?
    That is outrageous slippage.

  7. #17
    I have just received this answer:
    Quote Originally Posted by ;
    Technically, everything went right. Slippage can't be avoided with such a movement.

    The cease buy order is triggered and executed at the nearest tradable price.

  8. #18
    Quote Originally Posted by ;
    Hi, As a new member I can not begin a thread so I'm posting this here: Last night I attempted trading the NZD Unemployment report and obtained slippage of about 300 pips (NZDUSD pair). I'm new to reside trading but I know 300 pips is completely unacceptable, even for a news event. I'd employed a Buy Stop order and it didn't get loaded until the end of the news event. In reality, according to the chart, price didn't even reach the point where I was filled, the difference being 70 pips. I was stopped out in my first Stop Level for a loss...
    I can see that you're talking about 30 pips slippage, which can be 300 points and it is exactly you should get with this trade, it is very significant news for NZD and liquidity is quite low due to news and time. At the start all trades are created by robots and then your transaction could be executed. For this kind of events you should consider 50-100pips loss (500-1000 factors). Your buy stop should be executed at 0.7222 plus spread (5-16 pips for popular brokers as IC Markets, Pepperstone, LMAX, Tickmill), so this transaction could be executed even at 0.7238 which it entirely normal. Strange truth is that you were stop out... Where did you place stop loss?

  9. #19
    Quote Originally Posted by ;
    quote I will see that you're talking about 30 pips slippage, which is 300 points and it's exactly you should get with this commerce, it's very important news for NZD and bandwidth is very low as a result of news and time. Your buy stop ought to be executed at 0.7222 and spread (5-16 pips to get popular brokers as IC Markets, Pepperstone, LMAX, Tickmill), so this transaction may be executed at 0.7238 which it completely regular. Strange truth is that you were quit out... Where did you put stop loss?
    I placed a buy stop at 0.71926 and a stop loss at around 0.71856. My first order was executed at 0.72276 and I was stopped out in 0.71947, which was previously my original buy stop.

  10. #20
    If this is just what should have happened with this trade, then is news trading? Or did I only pick the wrong event and the wrong moment? I have read everywhere that 30 pips (300 points) is not acceptable for slippage, were they wrong?

    Another thing is, this kind of slippage never happened with my demo account, not even close. I would not have bothered trying it live if it had.

    Thank you for your help.

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