not the last digit is the pip...
the changes of the digit = pips profit/loss

some tips for trade NFP tonight...

NFP = non farm payroll
every first friday of the month.

this is the biggest impact news..movement can go up to 100+ pips in 30 minutes

there are 3 way to trade this news.


1. Hedging (berani mati @ kamikaze)

10 minutes b4 news release:
-open buy n sell in instant execution/ market price order. TP 50pips SL 10pips.


2. Straddle (selamat sikit)

10 minutes b4 news release:
- open pending order
"buy stop"+20pips from the current price TP 50pips SL 20 pips
"sell stop"-20pips from the current price TP 50pips SL 20 pips

3. stay away from market (lagi selamat dan akan di ikuti dengan sedikit penyesalan)
10 minutes b4 news release:
- see the chart with full concentration n do nothing when watching pips flying away

IMPORTANT:
Please follow money management rule. for your own good

happy news trading..hehe

This post has been edited by hafifee: Dec 8 2006, 01:36 PM

what is a short trade and long trade? does it mean selling or buying?

This post has been edited by ao_othman: Dec 8 2006, 06:43 PM

huhuhu....here's mine. I apply the candle stick with the EMA to trade yesterday and this is my result. Really wish it was real money



Attached thumbnail(s)

huhuhu...dare not trade tonight. the trend seems confusing.

short trade means selling, long means buying.

For the NFP is it always sided with USD? I mean for example like pair GBPUSD, so since NFP is USD news, the pair will go down meaning that the usd goes stronger. Or either way ?

Im asking this because im spotted a nice WW on h1 USDJPY, and after point 5 it should go downtrend. But if the NFP sided with the USD and goes UP, the WW will break

i am very confused about the use of stop and limit orders. im learning from this website http://www.futuresknowledge.com/forex/forex_stop.asp

i am using marketiva and im not sure the correct way of using it. under the price type, there is limit n stop. I select stop n put in the numbers that i want is that how i use it? if so what is the use of exit stop loss n exit target?

Yeah i really wish all of my trades were real money but right now to tell the truth, im still not too confidence of my self to start live acc.

But then again, when i used demo money, i felt kinda lazy to trade

Erm...price type, I dunno...have to wait for the otai2 here to answer that.

As for stop loss,

Let's say you BUY GBP/USD at 1.8000,
to avoid yourself from losing more money while you go out shopping or have a teh tarik drink, you place a stop loss at 1.7080 (which is 20 pip loss)

-AND-
instead of being too greddy (well, that's why i use it, i dunno about other ) i put an exit target of 1.8050 (which is 50 pip profit)

Any corrections, otai2 pls correct thy humble student

just registered and installed the marketiva, but i have no idea how to use the thingy..

i can see live 5USD, vistual 10000USD, so is it automatically in virtual mode?

yes...unless u click at desk to trade using real moo-lah

i wonder has anybody doubled up their live usd5 before?

thanks. still need some time to do further research. just downloaded a few FOREX e-books.

BTW, anyone doing this on a FULL-TIME basis?

omg, im seeing live now GBP/USD shooting up. can any1 explain why this is happening? from roughly 1.9558 to 1.9631 and rising. very sharp.

This post has been edited by ao_othman: Dec 8 2006, 09:52 PM

study the indicators and you'll know why.

I've made virtual money of USD1000 in less than 5 mins and again, i wish it was real money. I guess when we trade in virtual money, less emotion there is.

woot..great entry for long in GU and EU Gained about 20 pips each.

crap. is it because of hte news release?

i saw some news come out, and poof, suddenly 40-60 pip movements on EUR/USD and USD/JPY.

Damn, My WW hit stop loss(because of NFP), and then suddenly continue the waves. Should have put bigger stop loss.

All pair with USD will get the effect of the NFP news.

hahahha. i made a very stupid mistake today.

i went short on EUR/USD. and short on USD/JPY.

Went against USD on one side, and supported USD on the other.

ouh i now i know, every first friday of the month NFP will take place. how can i know or read the NFP news?

This post has been edited by ao_othman: Dec 8 2006, 10:42 PM