Make Easy Pips With Economic Calendar

[scorpion]

Our calendar says BoJ will keep the rate at 5%.

[Drivefast]

Ok Im in Lets see what happens.

Are you going to place your trade 30min before news?

Also are we going to target 50pips and 50pip SL?

[scorpion]

Ok now i'm placing a sell order with SL and TP of 50 pips. No harm because it's a test order in demo account.

[Drivefast]

Ok I got in 6 minutes late 119.09 because platform server was down for a moment.

Here we go. It feels like gambling lol.

[goldivx]

No rate change. Oh well.

It is like gambling except you have a 50-50 shot of getting it right. Not bad odds really.

Thank you for the advice about going live but it's too late for that. I'm only trading 10,000 size lots though.

[Drivefast]

Well atleast I got 4 pips out of it. Not bad for 15 minutes work.

[Drivefast]

Oh 10,000 lot size is nice if you keep it small. That will be like 1 pip is worth $1.

Good Luck

[scorpion]

Closed at 5 pips net profit. I guess market has anticipated this already. Data comes out as expected.

[goldivx]

Thank You and good luck with your strategy.

Trading live, for me, is the best way to ensure I keep decent money management.

And trading at $1 a pip is perfect as I can just scale up as I get more comfortable with what I'm doing. My broker lets you go to 1,000 size lots but $.10 a pip would be like going around picking up bottles.

Anyway, this news trading should work fine. I mean that's what the markets are supposed to be watching anyway. And if my broker wants to cut me out some pippage from slippage, I'm ok with that as long as I get a consistent cut.

I'm not looking to purchase a small country any time soon so a slow steady bullish sentiment on my trading account suites me fine.

[scorpion]

Oanda allows contract size down to 1 unit. That maybe around a few cents per 100 pips.