Trade the News System | Foreign exchange indicator download-MT4/MT5 resources
Hello everyone! I'm Noeliu and I want to share a news trading system. When I say news, I mean big market mobile news. Please understand that this system ignores indicators or what currency pair you choose. We will discuss which pairings respond better to this system.
This post is to explain this very simple system, then, everyone please post the results (trade size as % of account/rewards or bonuses/issues in specific trades)
1st check the calendar and select the bigger market mover news (we will simply quote them with news)
2ndSet an alarm or reminder on your phone 15 minutes before the news is released. (So you can turn on your computer, log into your broker and find the correct chart)
3rd watch the price almost stagnate (consolidate) 2 or 3 minutes before the news is released and then place 2 market orders. One long/one short.
4th set price targets on both trades at 5/10/15 points based on the size of the news. (If your broker allows this, set a tight trailing stop of 5 pips) (We will discuss with your broker which approach provides better results, and whether trailing is suitable for high volatility spikes)
5th observation: both TPs are triggered
6th smile
7th time to come to this thread and post your results.
The system is very simple, so any updates will always appear in the first article (or a reference to them)
EDIT: Similar system instructions are attached to post N 5.
This post is to explain this very simple system, then, everyone please post the results (trade size as % of account/rewards or bonuses/issues in specific trades)
1st check the calendar and select the bigger market mover news (we will simply quote them with news)
2ndSet an alarm or reminder on your phone 15 minutes before the news is released. (So you can turn on your computer, log into your broker and find the correct chart)
3rd watch the price almost stagnate (consolidate) 2 or 3 minutes before the news is released and then place 2 market orders. One long/one short.
4th set price targets on both trades at 5/10/15 points based on the size of the news. (If your broker allows this, set a tight trailing stop of 5 pips) (We will discuss with your broker which approach provides better results, and whether trailing is suitable for high volatility spikes)
5th observation: both TPs are triggered
6th smile
7th time to come to this thread and post your results.
The system is very simple, so any updates will always appear in the first article (or a reference to them)
EDIT: Similar system instructions are attached to post N 5.
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