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Avoid trading on macroeconomic data(brexit)

koval
Jun 22 2016 at 11:58
37帖子
Have you just started your trading journey? Avoid trading on macroeconomic data. It is tempting, as rising volatility always makes the market more interesting at the time of publishing new economic data, but in real trading it is more gambling than investing. Trading is not about taking chances, and it is crucial that you first understand the market and treat macroeconomic data only as a filter to your trading. There are certain tools for trading on macroeconomic data, but you shouldn't do that unless you are a skilled professional - otherwise you are just going to become another money donor for the Market Makers.

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FSM (dkilmer)
Jun 23 2016 at 06:42
90帖子
After paper trading for the last 18 months, it took only six months of nfp gambles to realize it was simply not worth my time or effort to roll the dice on large volatile fundamentals .

Everything in the market is like a fart, if you have to force it, it is probably shit
mlawson71
Jun 23 2016 at 07:10
1487帖子
I agree, too much risk for not nearly enough reward most of the time. I'd avoid trading Brexit too.

theHand
Jun 23 2016 at 08:41
365帖子
Then you guys have poorly designed systems. I'm going into BREXIT with 18 systems running.

A well designed system doesn't feel much for these events. And of course I wouldn't attempt it on MT, just to slow. I don't know how much I'm going to make tonight, but it's going to be a lot. You only get 1 or 2 of these a year. Really looking forward to it. Not that I'll be watching, Asia Pacific region, so I'll peer at the results over a steaming cup of java tomorrow morning.

It's really a question of if it's going to be a bunch of whips, or if we're going to get a move out of it. I'm hoping for a move.

@dkilmer

The NFP's have been pretty useless for a few years now. I call it dead fish events. Flip, flop, flip, flop...dead. Been a very long time since we've had a decent move from it.

alexburlakov
Jun 23 2016 at 08:55
4帖子
theHand posted:
Then you guys have poorly designed systems. I'm going into BREXIT with 18 systems running.

A well designed system doesn't feel much for these events. And of course I wouldn't attempt it on MT, just to slow.
fi

Don't foget to share your results.

I don't trust to fixe profit during Brexit

theHand
Jun 23 2016 at 09:00
365帖子
The results will be mixed as always. Some will win, some will takes losses. This is not a 1 day game, as long as I come out with my shirt on my back on the other side I'm happy. On average I should do well. How well remains to be seen.

If you can trade through this and come out smelling like roses you can trade through anything. This will be the biggest event for a while, very good test for my methods.

xgavinc
Jun 23 2016 at 09:53
235帖子
theHand posted:
I call it dead fish events. Flip, flop, flip, flop...dead.


Description of the year, ROFL!
You made my day, thank you. I can think of a few situations where this term will be useful to use in everyday life.

For every loss there should be at least an equal and opposite profit.
David (Scrooge_McDuck)
Jun 23 2016 at 09:54
1帖子
I also think it's better not to trade today - one day of not trading doesn't make a difference anyway.

xgavinc
Jun 23 2016 at 11:05
235帖子
Scrooge_McDuck posted:
I also think it's better not to trade today - one day of not trading doesn't make a difference anyway.


There will be 'aftershocks' as they adjust to the outcome (may last a few months) - Out = renegotiating trade terms for example, In = gaining renewed trust within the EU (just like announcing your intent to quit your job, and then deciding to stay), these are just one change per outcome out of many.

Every trader must decide - 'Do I see this risk and volatility as fear (not trade) or opportunity (trade)?' then do whatever is in their best interest.

For every loss there should be at least an equal and opposite profit.
theHand
Jun 23 2016 at 11:24
365帖子
Scrooge_McDuck posted:
I also think it's better not to trade today - one day of not trading doesn't make a difference anyway.


It makes a very big difference. I know from my stats when I use to track them most of the moves are on Wednesdays and Thursdays. Miss it and you miss your week. Most of the time nothing happens.

FX wasn't like this years ago, you bugger off 1000 pips this way just to go 1000 pips that way 2 days later. It rarely happens now. So ja, the days it moves are important, you have to be there when it moves.



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