OUCH THE NEWS
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A great example of the news effecting the market, and me being in the wrong place at the wrong time. economic calender was in american GMT -5hours, so i thought it happened at 2 oclock today and had no effect. Now i have realised that news was set to be released at 7oclock, its actually pinged me into trades and put me out with stop loss 🙁 oo well, we learn from our mistakes.
Sorry, meant to add it happened in USDJYP, but looking arounf other US markets, its happened in quite a lot.
Hi Lewis,
Sorry to hear you got caught out 🙁
If it’s any consolation, the lessons that come with a little bit of pain attached are the ones that stick with you best (and I’ve done all kinds of daft things, trust me). I bet you’ll always be a super-strict observer of the economic calendar from this point onwards!
Hi Rich,
I read your email that was talking about filling the gap from the weekend etc. So started looking around the internet to do a little bit more research into these types of trades. So yesterday, i put on a trade in the USDJPY, sure enough the market traded above the DOR and there was a little bit of resistance on the 15min chart but entered it anyway. However, i thought would give it ago since the gap needed filled.
I knew it wasnt the best of trades since the market is trading against the trend at the moment, but sure enough +70 pips later, and got out 2 mins before the news released.Thank god i did, cause it shook the market like crazy.
Hi Lewis,
So you got on the right side of the news on this one 🙂 Those gaps can be pretty reliable when you see them, nicely done!
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