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Originally Posted by jhabash
Nina,
I have a quick question for you...I am usually hesitant to take a trade that the system generates so close to big news releases like today. I (thank God) took some good profits today but wonder about your thoughts of putting in limit orders on both sides of the announcement.
I'd also like to thank you, Harold, and all of the others that have contributed on a consistent basis to make this system what it is.
Thanks!
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Hi!
Look, according to CatFX50 we were long on eurusd from 10:00cet at 1.2806.
We were long too on GBPUSD from 12:00cet at 1.8664 and we were short on USDCHF from 11:30cet at 1.2203. Today CatFX50 was on the ride side from the very beginning.
I understand that NFP is a big issue and can kill you in a few seconds. I understand we were in profits right after the news. Its human to say: ok, I close them all and I wait and see.
This is up to each trader. Aggressive trader, in; Conservative, out.
Then there is what we call "bracket" the news. Well, its one of the ways we all use. It works, but sometimes brokers go hunting 30 seconds before the news.
If you want not to be smashed, you should be generous on your limit orders.
There are people that only trade one day per month: today.
Nina