"Take Risks: If you win, you will be happy; if you lose, you will be wise. Nothing ventured, nothing gained."

Wednesday, February 3, 2010

3 Feb, Aud/Usd - Trading the News

Every night whenever i open the chart, i make it a habit to go to Forexfactory.com. Because by the time i sit down and analyse, it is also the time when New York cross over London session. Forex factory provides economic data releases, something i should be wary of whenever i consider a position. is there important announcement coming up in a while? because depending on the type of data, it affects the price significantly, juz like the ass-kicking aussie interest rate.

but more often than not, instead of being wary of whats coming, for some reason i trade the news instead. ADP Non-Farm Employment Change, here are the data:

Session: New York, London Crossover
Duration: 24 minutes.
Timeframe: 15M.
Technical: Nil.
Fundamental: US ADP Non-Farm Employment Change.
(Previous: -84k, Forecast: -31k, Actual: -22k)
Strategy: Entry ten minutes before data release. Bullish data as employment change was better than forecast. Price reacted only ten minutes after the release.

Latest candle was the after the release. taken a short ride down at the opening price of the last candle. price is still going down as the point of writing. that was it for me, target for the day. +10 pips.

won't be trading for the next two days. having night class tomorrow, and a fren's birthday party the night after, maybe. which means to say i may be giving this month's NFP a miss. i realised that i have been keeping up with various trading blogs which i've followed, and found out that this traders community is pretty interesting. u got people from all over the globe, different opinions and perspective, some do blog about their personal life too, from there u get to noe them even better.

i hope this doesnt affect my actual social life outside lol, as RCM once said to me this:
Risk Control Master said...

trading is only part of your life, sometimes there are other higher priority.

something to remind myself about.

good tradings my frens. later.


Risk Control Master said...

Hey we missed for the NFP!!

Anyway, have fun with your friends's birthday party.. I remember my party days.... :)

Anonymous said...

HHAHAHA,...i rather sleep and trade next day.

or enter trade in your phone at friend hse, continue partying lo

by bp

Black said...

lol RCM, thanks!! if u come to Singapore, let me know, i will bring u some nice place to party! :D hope ur kid is feeling better now.

Black said...

hey brad, i dont have windows os cellphone, which fxdd serves. :(

haha.. cannot party and trade at the same time very hard to focus both sides, i may still watch the price tho.. :P

Related Posts Plugin for WordPress, Blogger...