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  • #91
    Originally posted by ccjhuang View Post
    Hi Guys,



    Also, high volatility is expected next week as we have FOMC minutes and NFP coming up. FOMC minutes will be on Thursday next week which is a bit unusual, and that is due to Wednesday (July 4th) being a public holiday. This may create more volatility as the FOMC minutes and NFP will be closer to each other than usual, and that's another reason why I believe it is now a good time to increase the risk on SFE PA again.
    )
    Great idea. I hope to see your account balance fly higher by end of the week.

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    • #92
      I really do hope these counter trades after a big new events go away and some form of direction to be embraced

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      • #93
        Originally posted by phynicle View Post
        I really do hope these counter trades after a big new events go away and some form of direction to be embraced
        If it zig zag's it's loss both ways. News have to be really bad or really good to have momentum and continuation in same direction, otherwise it's loss upon loss...

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        • #94

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          • #95
            I don't know how much more my account can take ,it's less than 50% of when I started following and the slippages are insane.
            Your account lost 12%,mine lost close to 20% with a total of over 100 pip slippage on 3 eurcad trades.

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            • #96
              It is always easy to criticise in hindsight, but not sure why you expected a big move from NFP. In the last few years it was almost always a reversal after NFP, which is why I don't trade momentum strategies on NFP anymore. The headline numbers do not really matter much when the unemployment rate is already that low. And even average hourly earnings are not that important anymore because the Fed is already close to the end of their hiking cycle, so they are probably ok with inflation staying as it is.

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              • #97
                Originally posted by phynicle View Post
                I don't know how much more my account can take ,it's less than 50% of when I started following and the slippages are insane.
                Your account lost 12%,mine lost close to 20% with a total of over 100 pip slippage on 3 eurcad trades.
                Unfortunately I cannot do very much about the slippages, as it is mainly affected by the latency within the SimpleTrader platform, and trading during volatile events also made it worse.

                Maybe the best way to avoid losses due to slippages, is still either to buy or rent the EA on MQL5, or join the MAM account.

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                • #98
                  Originally posted by corni View Post
                  It is always easy to criticise in hindsight, but not sure why you expected a big move from NFP. In the last few years it was almost always a reversal after NFP, which is why I don't trade momentum strategies on NFP anymore. The headline numbers do not really matter much when the unemployment rate is already that low. And even average hourly earnings are not that important anymore because the Fed is already close to the end of their hiking cycle, so they are probably ok with inflation staying as it is.
                  SFE PA thrives on volatility, and I certainly hoped this NFP could give us some surprise and the volatility SFE PA needed. I know the recent FOMC and NFP events have been lacklustre, but it only takes one big surprise to generate a day of massive gain which will recoup all the previous losses, so I will just keep on waiting.

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                  • #99
                    Well, you can afford to wait, becasue you got lucky and bnaked profits, but the rest who started after you went public are, with best scenario, about BE. Not counting the VPS and signal cost... One more year of such trading and I think the price of EA will dropp to few bucks if people will even consider buying it... The glory days are gone, at least for now.

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                    • Originally posted by oportunis View Post
                      Well, you can afford to wait, becasue you got lucky and bnaked profits, but the rest who started after you went public are, with best scenario, about BE. Not counting the VPS and signal cost... One more year of such trading and I think the price of EA will dropp to few bucks if people will even consider buying it... The glory days are gone, at least for now.

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                      • Those breakouts are rare now and when they come they make nice profit true, but unfortunately that profit just offsets the losses that were accumulating while waiting for a massive breakout.

                        I have same opinion as reinerh that the banks and big players are messing up on purpose with masses of retailers. They have much more power with quants and margin and information about market than the rest and can spin the market. We saw plenty of inside trading and penalties that were issued to the biggest banks, but for them this is peanuts if they made a killing on those moves.

                        You can see also how institutions and big players mess with cryptocurrencies now. Soon after futures started the BTC is declining and moving between 5-10k range. This is more visible here, because crypto is soo small, but I think the same is happening on any market that can be manipulated and Forex is one of them.

                        I hope EA banks profit, so your followers succeed, time will tell. It would be nice to have a steady profit machine

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                          • Jimmy thanks for the update I love your positive attitude.

                            I certainly hope we have a change in fortunes soon.

                            Patience can be very hard to live with.

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                              • Any reason why you redeposit old withdrawn profits? You should let it run or let it bleed to death.

                                Adding on a down trend makes sense in stocks cause 0 means the company is dead/bankrupt and holds no value. So unless you are blind to the bad news coming from the companies or sectors you invest in, it's relatively safe to add money when you are going down. In the long run it should go up.

                                This doesn't apply to Forex trading especially if you are running an automated program. A lot more discretion is advised.

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