VP, serious question. If my myfxbook was far beyond average and you were insanely Impressed, would you consider privately exchanging Algos for the betterment of both of us?
I love this maannn !! i saw all your videos from a to z i had an account full of loses i saw your videos i took a step back and now i tried to trade well ! thanks
If its one thing I love about forex vs stocks crypto and futures is that I can trade 100% technical. I used to study options trading but that was a headache in itself. Glad I picked forex and found this channel!
This has to be 1 of the most valuable forex videos on UA-cam in the last 4 weeks Ive taken 778 pips of the table. Out of 13 trades I have had 3 close minus the others have profited feeling like a pro, once again thank u vp
VP, wow. It is vital to follow your rules outlined in this video. i did a historical study on the two currency pairs that crashed on 2015, i look at the indicators and none of them told me that it was going to crash but the forex news and FOLLOWED your rules, i will stay out of the crash. Now i have a quiet confidence to trade forex. Heartfelt thanks.
So glad I have found your channel! I believe 90% of the news is propaganda. I have been avoiding watching too many videos as I don't want any confusion to my strategy. However, you have similar views, opinions and mindsets to trading as myself. So, you have a new subscriber. Have a great day!
Thank you for sharing REAL information on FX and not selling a dream or magic indicator bs.much love and always wish you the best in your career and life!
ABSOLUTELY GENIUSSSSSSSS. I was in a trade and major news events was coming up and i got out and it was absolutely worth it . My trading has really improved since watching you Dr. VP , less emotions , better risk management, increased patience . Thanks alottttttt brooooo. Blessings 🙏🏾
A lot of things effected my trades that I didn’t understand at first. Because the first time I viewed ur channel you advised us not to trade the news but lately I’ve been making some losses that I didn’t understand but just by watching this video I’ve learned that I should be avoiding economic events and like u said the aim here is to prevent and eliminate loses and thats how we win long term thanks can’t wait for the next ☝🏾 bruv
A few months ago, you responded to a comment I made after the 4 baseline videos, reminding me to pay attention and get out on news. In the 3 months of forward testing since then, I have been profitable. Up to that time (several months of data) I had zero months of profitable trades. Just doing this one thing - getting out before news hits - can create a profit. And this is only with an incomplete algo! Thank you for that reminder. (btw, I debated on putting this comment where you reminded me, but I thought it would do more good here).
Once again a great informative no BS video, thank you Patrick, all makes common sense, thanks for the work you are putting in with us its really appreciated, ive learned more with you than with other tutors over the previous 5 years, maybe when these videos and podcasts end we can join a trading group with you and discuss trades for the day etc.
Copy that boss! It’s always good to dig deeper into the reason of why news events are lethal. I met a guy once on real account was making 15k or 10k only trades news with huge lots and no stop loss😬 he ended up been so desperate and broke you probably came across people like that aswell! Hats off to VP for spreading the love and make us better traders! And yes relentless 🐢 is the way forward!
What I learned from trading commodities, Price makes the news, news does not make the price. VP is correct, in ANY market the market makers move the market in their favor. Why do you think they are called market makers. Mind you, the market makers pay dearly for that opportunity. Keep up the good work VP.
VP, Thank you for using your precious time to educate me. I am new to trading and have been learning for just about 5 months. I knew something was missing but didnt know what. You are slowly filling the gaps and I am so much more confident in my trading since listening to you the last 5 weeks. Have much more to learn, working on my algo.. but I'm in the front seat as a student always..honestly sir, my heart felt gratitude to you and all you are doing.
I recently asked if you were going to make this video because I didn't notice it....sorry!! This was one of your best videos. I've struggled with avoiding the news using Forex Factory for years. Your approach to managing this part of trading was extremely helpful. Thank you VP!!!
Today is the first NFP I decided not to trade the news. I watched, but that person on my shoulder kept nudging me in the right direction. Crazy thing is just by watching it , I don’t understand why I ever traded news.
Jeez...trading the news. What a rush! I remember playing hooky from work to meet a few guys I traded with for NFP at the nearby Starbucks (they had free Wifi, decent coffee and not a lot of people milling around at that time). I think we were still trading through FXCM if memory serves although one guy had an account with a long time defunct broker named Crown FX (I think they were in Qatar...but pretended to be in London because they had a PO Box) . We searched for whisper numbers, inside news and any insight we could get our filthy mitts on to give us the edge. We talked straddling, retracement strategies, dead cat bounces, extensions, delayed entries and the like, after shaking the magic "8 ball", of course. Once we had our pending orders entered, we huddled together, nervous as all get out and counted down. Oh yeah! Oh shit!! Oh WTF!?! We'd get picked up on both sides, whipsawed like the small kid in 4th grade laying in the dirt and stopped out in a matter of seconds...or, picked up and then watch our trade go negative as it crashed through our stop, plummeting further away from our entry price until, you guessed it, finally closing as slippage decimated our accounts. Silence. Remember that rush? It was now to the can...to pray to the porcelain god...until next month! Yeah, baby - we're gonna get it right this time. NOT! No more Friday 0630 (MST) NFP trading the news for this guy - ever. Not for years. Now I make a point of sleeping through the news, just to thumb my nose at it. Don't trade the news. There are too many other safer opportunities that definitely won't make you hurl.
I must say you do a great job at changing mindsets, I've watched a number of your videos and from the first one to this I have made great changes to how I approach forex trading; I stripped my charts clean, I diversified with the currencies, I have developed a strategy and rules and guidelines on how and when to take trades, learnt how to be disciplined and most of all how to be patient. But you and every who trades must agree on one thing, this is a capitalistic venture, in essence we trade because we want to take advantage of something most people don't know and in return we earn money and that's just by being ahead of the game. Now the big thing to consider here is what puts us ahead of others in this game, how we obtain data and how we interpret that data to give us insight on what is about or will happen and thus take advantage of that. For example the big banks take advantage of the current market positions to decide their next action, if the market is stagnated or trending in one way or another they cause interference to which they know the outcome of and hence take advantage of and thus ordinary traders like us get slaughtered. Big Banks don't do this every minute, not on a schedule or anytime they feel like, they anticipate the market on a precise point in time and they do the opposite of what the market expects thus capitalizing on their expected outcome on a very huge scale. These key moments are determined by current events to which the big banks sift out and choose the ones with the biggest or the best outcome. some could be elections, some could be economic events but at the end of the day when elections and politics and catastrophes are not happening they still find a way to earn big time by taking advantage of some sort of event. So who are we not to do the same, no indicators but just a couple, no news but just the normal, we're a data hungry people yet we should avoid it?!, we try to predict the future yet we ignore the present and the past?! whats the point, even EA's need some sort of data to perform their duties, the bigger the data the better the performance. This right here is like someone putting a seed in the ground and going away for a couple of years and expect to find fruits from a tree that grew out of that seed.
VP, thank you for making this content. The videos and playlists here has completely changed my forex mindset/game. I was actually in a long GBP/CHF until I saw this video. It ran hot the last couple of days but I've been following the brexit stuff, and so, after seeing this video and considering the news...thanks for the profits! Haha. As a technical trader I didn't think news mattered at all, but after seeing this video it's so obvious it does matter to a degree and needs to be a factor in trading decisions.
Thanks again VP...more great information and guidance. I am seeing far more success with your trading advice! (4 wins today and 3 are still running with SL's in profit!)
After watching your videos especially the Big Banks, trading on news events sounds very risky to me now compared to how I trade news a few months ago! Been patient, disciplined, and developing this mindset of focusing on long term has been a game changer for me let alone trading Daily TF which took away almost all the stress away from monitoring the chart all day long. Thanks VP!
Thanks for all the work and time you have and are putting into helping others. This is great! I'm so overwhelmed, because I started at the begining watching this, reading that and clicking on the "show more" info. I lost track of where I should be. I'll get it together eventually.
Forex trading is crazy since there are a lot many traders buying and selling at the same time considering both the parties are clever and can make money.. still the good part is that most of them make money..!
Now that I have some FX trading experience under my belt, I've noticed that the spreads between currencies seem to matter a lot more on the shorter time frames. If you're screwing around on the 5 minute chart, the spread will make or break whether you make a profit. If you're in a trend that takes a week to finish, the price is going to move significantly to the point where a few pips don't matter
i very nearly used my question up to ask if GBP was still one of your favorite currencies during this Brexit mess ! glad i held off. Another great installment.
I have understood and applied your direction related to news and not trading the currency within 24 hours of the news event as, not trading 24 hours BEFORE the event. I'm finding that sometimes the news event release causes movement in the pair enough to trigger a buy or sell signal. Since it was AFTER the event, I've entered trades and found that I am frequently immediately put out of the trade either by another signal or stop loss once the market normalizes after the news event. Does the 24 hour rule apply to BOTH before and after the news event? Also, for trading purposes, is the Friday trading day considered 24 hours prior to a Monday news event? Sorry for the question, I just haven't been able to tackle this answer on my own. Thank you for all you are doing.
Maybe, just maybe you are trading the news by trading (probably) immediately after the news. It makes more sense (to me) to close your failing trades and/or avoid entering just before the news, then wait it out on your daily chart (say for 24 hours). I don’t know if this submission makes sense but I do hope you get it.
Hey VP just wanted to say! I think you have a currency strength indicator in your algorithm. I could be wrong but will have to wait and see ;) great video!
Can u plz do a video on you getting live profits?(or if you think that people will get to know your algorithm) just show us your trade history so that you're proved better than others because most Fx teachers on the UA-cam don't show their trades which kinda messed alot of people because they think those teacher may not be Fx traders.
The Forex Factory has 119 news events on the calendar this week. I'm glad I don't have to trade the news. The big banks are going to have a field day taking the money of those who do. It seem that as the weeks pass the calendar if adding more and more news events. Thank you for the advise you give on trading the news.
This is seriously fked up, i'm literally getting no trades when accounting for news events, *mind is blowing* And it seems like all the good trades I would of had are getting deleted :(
VP is the 🐐 new traders please take this advice and don’t waste time trying to create a news trading system. In my naive days I thought I’d make 1000s per week trading news events and even used a squawk service which is £100+ per month to get the news that bit faster,needless to say I blew account 2 and had to go back to instant noodles and scrapping pennies together. Banks take those rates any directions they see fit and you’ll be obliterated.
some traders I know never watch the news at all including me just make sure to follow your set ups. You know you win more times than lose and following sentiment to confirm is awesome enough? Also market conditions can change and if your set up no longer works don't give up. Build another setup that works again. Never stop learning from a range of teachers and never stop improving your setups. Always learning :)
When theses news events show up should we avoid the quote currency associated with the news as well? For example: GBP/USD. GBP = Base currency. USD = Quote currency.
btw, I was all set to ask you about how to deal with the 2020 election given that it looks like it will be a multi-day event. I figured you hadn't covered it yet. I was excited to ask. And then you went published that very video! Man, you are just too quick at covering all the bases!
Today was Crude Oil Inventories and it seems to have a big effect on CAD. However it's not on the news avoidance list. Do you avoid trading CAD before Crude Oil Inventories? Should it be added to the avoidance list?
Thanks for sharing the game plan. i gotta view this video a few times. Now, i follow the game plan. I just did. Appreciate you for sharing true-to-forex trading principles and best behaviour.
Here is my theory. Big banks open equals amount of long and short positions to provide enough liquidity in the market. And base on how many long or short positions are filled, they can easily determine where the "Popular kids" are, and take price the other way. I don't think they can see our stop loss or stuff like that. But they have the luxury of opening thousands or millions position at the same time, with tons of capitol of course.
Hi VP! Could you please recommend a Trading psychology book? I’ve read Alexandre Elder’s “The New Living For A Living “, which is most likely addressed to Stock traders but its psychological part helped a bit. Thanks!
Hi VP! Ok, I went through your old vids and sourced some good tips. I just ordered on Amazon the following books: Rich Dad Poor Dad, The 4-hour Work Week and Jocko Willink’s Discipline equals freedom. 2019 will be my year, SouljaBoy’s voice, lol! Thanks again!
Thanks, VP! This was a great lesson and I really appreciate your candor. FYI, there is another site that I like to use to judge how news will affect the forex market. It can be found at www.fasteconomicnews.com/fx_calendar.aspx. Scroll down to the upcoming news event and select the event. Scroll down to the most recent release and select "chart" on the right. You will then have the option to select a chart time interval and the currency pair of interest to see how it was affected by the news event. This part of there service is free to use by anyone. Hope this helps!
What are your thoughts on Bill Williams and his suite of tools? Got sucked into one of his videos after watching this one and my bias toward your way of thinking just had me shaking my head the whole time.
I watched a guy on another video showing how he trades the NFP. He set the trade to happen automatically and said "okay, while this happens, I am going to take a nap." Magically he won big (no editing there, of course). What I am quite certain of, in reality, is that the next thing he said after "okay, while this happens, I am going to take a nap" was "Do you want fries with that, sir?" Thanks VP for the common sense advice on avoiding news that can play havoc on profits. Great video as always.
Chris Manley I take your point but please remember there are many ways to trade and each profitable trader finds his or her own niche. Takes practice and screen time for sure. Also what works for one won’t work for another unless you think everyone likes cheese or everyone hatesTrump. Find your niche within the forex world. 😏
well, I hate to brag, but I thought Trump would win and I won my bet (political betting, yo!) on him. And I thought Brexit would cause vast anxiety and I went long gold futures and short the FTSE and won both (wish I had shorted Barclays...missed that one...)
VP. Love your videos. The info is spot on. Do you produce them yourself? The audio is pro quality. Who or what system do you use for audio? I know the question is not forex related, but be a Dude and give me some crumbs. Thanks much.
Hi VP, could you clarify if the events/news that you refer in your video relate only to those with actual numbers (i.e. Actual, Forecast, Previous (from forexfactory calendar)). Using "Interest Rate" as an example, would any statement/speeches/ meetings with link to interest rate be considered as "Interest Rate" event to avoid, or are you only referring to when interest rate numbers are being published(e.g. BOJ Policy Rate). Thanks.
Thanks for your time & clear explanation on your trading strategies which I have been following for about a month now. Frankly I agree with most of your view to a certain point. All in, it should be common sense that if you want to stay a winner most of the time, avoid high risk (and potential high reward or lost) trades. Most times, for high impact news event, I only enter trades after the release...wait for the target pair to settle somewhat before entering any trade (if at all). Seems to work much better than to outguess market reaction before the news release.
I had long positions on the JPY during the flash crash. My very first. I didn’t panic or close my positions, I just made money on the way down and back up. I made that flash crash my bitch. I’m looking forward to being on the “wrong” side of the next one.
You worried me for a few seconds. Then a sigh of relief when you revealed that trading the news is futile. Imagine putting all the breaking stories and economic "news" into a basket then pulling one piece out and making any sense of it .
Hey NNFX - With all that's going on in the world, would you pretty please dressed in a MET Gala ball gown dress do an update for this video? EVZ is above 8, money is flowing into our market but I seem to be missing quite a few trades because of news (AUD!!!!). I think the community would really benefit from your thoughts on current affairs, view on inflation, news and how these affect the way we trade the NNFX way.
what about oil news for CAD? OPEC news. - as a short term, and all this trade war with China talks ( or explanation of ) that involve USD??? Great video as usual. there is this saying in Spanish - when the student is ready, the teacher appears. Thanks, VP.
@@NoNonsenseForex Most likely all the hoopla is from day trades, that is more sensitive to sai;y price swings. I will treat oil and gold as market awareness and thanks for the extra time.
![How to Get a Developer Job - Even in This Economy [Full Course]](http://i.ytimg.com/vi/6nz8GXjxiHg/mqdefault.jpg)
The blog will be up soon. It will have the set-ups I use on my calendars. Give me a day or so though. This video took longer than I thought.
Thank you for sharing this knowledge
Hey VP it's been along I have been searching exit indicators can't find a good one can you tell a new website to search
How about a trade very close to stop loss like 20 pips or 10 pips away do I get out because I have risk of getting my stop loss crashed
VP, serious question. If my myfxbook was far beyond average and you were insanely Impressed, would you consider privately exchanging Algos for the betterment of both of us?
I love this maannn !! i saw all your videos from a to z i had an account full of loses i saw your videos i took a step back and now i tried to trade well ! thanks
I could cry. Seriously. You’ve fundamentally changed how I trade....and guess what; I’m starting to become profitable. Thank you!
this is the best trading channel i know
If its one thing I love about forex vs stocks crypto and futures is that I can trade 100% technical. I used to study options trading but that was a headache in itself. Glad I picked forex and found this channel!
LJ Browner 🏆🏆🏆👍
This has to be 1 of the most valuable forex videos on UA-cam in the last 4 weeks Ive taken 778 pips of the table. Out of 13 trades I have had 3 close minus the others have profited feeling like a pro, once again thank u vp
VP, wow. It is vital to follow your rules outlined in this video. i did a historical study on the two currency pairs that crashed on 2015, i look at the indicators and none of them told me that it was going to crash but the forex news and FOLLOWED your rules, i will stay out of the crash. Now i have a quiet confidence to trade forex. Heartfelt thanks.
So glad I have found your channel! I believe 90% of the news is propaganda. I have been avoiding watching too many videos as I don't want any confusion to my strategy. However, you have similar views, opinions and mindsets to trading as myself. So, you have a new subscriber. Have a great day!
I've heard of forex broker killers, your more of an assassin, silent but deadly and your anonymity is your deadliest weapon.
If you are NOT Trading News - you are - TRADING !!!
Thank you for sharing REAL information on FX and not selling a dream or magic indicator bs.much love and always wish you the best in your career and life!
I Traded us30 yesterday and had a good day. The news was negative. But i held my trade for a week and had my targets.
ABSOLUTELY GENIUSSSSSSSS. I was in a trade and major news events was coming up and i got out and it was absolutely worth it . My trading has really improved since watching you Dr. VP , less emotions , better risk management, increased patience . Thanks alottttttt brooooo. Blessings 🙏🏾
A lot of things effected my trades that I didn’t understand at first. Because the first time I viewed ur channel you advised us not to trade the news but lately I’ve been making some losses that I didn’t understand but just by watching this video I’ve learned that I should be avoiding economic events and like u said the aim here is to prevent and eliminate loses and thats how we win long term thanks can’t wait for the next ☝🏾 bruv
A few months ago, you responded to a comment I made after the 4 baseline videos, reminding me to pay attention and get out on news. In the 3 months of forward testing since then, I have been profitable. Up to that time (several months of data) I had zero months of profitable trades. Just doing this one thing - getting out before news hits - can create a profit. And this is only with an incomplete algo! Thank you for that reminder. (btw, I debated on putting this comment where you reminded me, but I thought it would do more good here).
Once again a great informative no BS video, thank you Patrick, all makes common sense, thanks for the work you are putting in with us its really appreciated, ive learned more with you than with other tutors over the previous 5 years, maybe when these videos and podcasts end we can join a trading group with you and discuss trades for the day etc.
Copy that boss! It’s always good to dig deeper into the reason of why news events are lethal. I met a guy once on real account was making 15k or 10k only trades news with huge lots and no stop loss😬 he ended up been so desperate and broke you probably came across people like that aswell! Hats off to VP for spreading the love and make us better traders! And yes relentless 🐢 is the way forward!
What I learned from trading commodities, Price makes the news, news does not make the price. VP is correct, in ANY market the market makers move the market in their favor. Why do you think they are called market makers. Mind you, the market makers pay dearly for that opportunity. Keep up the good work VP.
I had to laugh at your comment about the hot Asian women on Bloomberg. It’s so true and the only reason that I watch the channel.
My Travel Hax 🤪
The sound Muted
10th time rewatching just to make sure I will make the correct decision.
In the midst of all news to keep a tab on these days, this video is very relevant. Thanks VP for your service to retail forex traders.
VP, Thank you for using your precious time to educate me. I am new to trading and have been learning for just about 5 months. I knew something was missing but didnt know what. You are slowly filling the gaps and I am so much more confident in my trading since listening to you the last 5 weeks. Have much more to learn, working on my algo.. but I'm in the front seat as a student always..honestly sir, my heart felt gratitude to you and all you are doing.
I recently asked if you were going to make this video because I didn't notice it....sorry!! This was one of your best videos. I've struggled with avoiding the news using Forex Factory for years. Your approach to managing this part of trading was extremely helpful. Thank you VP!!!
That's why I didn't answer you the first time. ;-)
Almost any question people have in my videos is answered by a video you just haven't seen yet.
Sorry I had a brain fart. I thought I watched everything. Thanks for responding...all the best to you.
Today is the first NFP I decided not to trade the news. I watched, but that person on my shoulder kept nudging me in the right direction. Crazy thing is just by watching it , I don’t understand why I ever traded news.
Best time frame is the daily, it's because reduces the market noise.
Jeez...trading the news. What a rush! I remember playing hooky from work to meet a few guys I traded with for NFP at the nearby Starbucks (they had free Wifi, decent coffee and not a lot of people milling around at that time). I think we were still trading through FXCM if memory serves although one guy had an account with a long time defunct broker named Crown FX (I think they were in Qatar...but pretended to be in London because they had a PO Box) . We searched for whisper numbers, inside news and any insight we could get our filthy mitts on to give us the edge. We talked straddling, retracement strategies, dead cat bounces, extensions, delayed entries and the like, after shaking the magic "8 ball", of course. Once we had our pending orders entered, we huddled together, nervous as all get out and counted down. Oh yeah! Oh shit!! Oh WTF!?! We'd get picked up on both sides, whipsawed like the small kid in 4th grade laying in the dirt and stopped out in a matter of seconds...or, picked up and then watch our trade go negative as it crashed through our stop, plummeting further away from our entry price until, you guessed it, finally closing as slippage decimated our accounts. Silence. Remember that rush? It was now to the can...to pray to the porcelain god...until next month! Yeah, baby - we're gonna get it right this time. NOT! No more Friday 0630 (MST) NFP trading the news for this guy - ever. Not for years. Now I make a point of sleeping through the news, just to thumb my nose at it. Don't trade the news. There are too many other safer opportunities that definitely won't make you hurl.
I have been learning trading for the past 2 months now and the more I learn further the more it gets messy in my head.
I must say you do a great job at changing mindsets, I've watched a number of your videos and from the first one to this I have made great changes to how I approach forex trading; I stripped my charts clean, I diversified with the currencies, I have developed a strategy and rules and guidelines on how and when to take trades, learnt how to be disciplined and most of all how to be patient.
But you and every who trades must agree on one thing, this is a capitalistic venture, in essence we trade because we want to take advantage of something most people don't know and in return we earn money and that's just by being ahead of the game. Now the big thing to consider here is what puts us ahead of others in this game, how we obtain data and how we interpret that data to give us insight on what is about or will happen and thus take advantage of that. For example the big banks take advantage of the current market positions to decide their next action, if the market is stagnated or trending in one way or another they cause interference to which they know the outcome of and hence take advantage of and thus ordinary traders like us get slaughtered.
Big Banks don't do this every minute, not on a schedule or anytime they feel like, they anticipate the market on a precise point in time and they do the opposite of what the market expects thus capitalizing on their expected outcome on a very huge scale. These key moments are determined by current events to which the big banks sift out and choose the ones with the biggest or the best outcome. some could be elections, some could be economic events but at the end of the day when elections and politics and catastrophes are not happening they still find a way to earn big time by taking advantage of some sort of event.
So who are we not to do the same, no indicators but just a couple, no news but just the normal, we're a data hungry people yet we should avoid it?!, we try to predict the future yet we ignore the present and the past?! whats the point, even EA's need some sort of data to perform their duties, the bigger the data the better the performance.
This right here is like someone putting a seed in the ground and going away for a couple of years and expect to find fruits from a tree that grew out of that seed.
I have learnt from you so much the only thing is the concrete action with no more broking account.
It's true, all you need to take note of is Interest Rates to be honest!
By far the best Forex related channel!!!
VP changes peoples life!!
VP, thank you for making this content. The videos and playlists here has completely changed my forex mindset/game. I was actually in a long GBP/CHF until I saw this video. It ran hot the last couple of days but I've been following the brexit stuff, and so, after seeing this video and considering the news...thanks for the profits! Haha. As a technical trader I didn't think news mattered at all, but after seeing this video it's so obvious it does matter to a degree and needs to be a factor in trading decisions.
Thanks again VP...more great information and guidance. I am seeing far more success with your trading advice! (4 wins today and 3 are still running with SL's in profit!)
Always great, thanks mate! Absolutely no surprises here, all very much common sense.
After watching your videos especially the Big Banks, trading on news events sounds very risky to me now compared to how I trade news a few months ago! Been patient, disciplined, and developing this mindset of focusing on long term has been a game changer for me let alone trading Daily TF which took away almost all the stress away from monitoring the chart all day long. Thanks VP!
Thanks for all the work and time you have and are putting into helping others. This is great! I'm so overwhelmed, because I started at the begining watching this, reading that and clicking on the "show more" info. I lost track of where I should be. I'll get it together eventually.
Forex trading is crazy since there are a lot many traders buying and selling at the same time considering both the parties are clever and can make money.. still the good part is that most of them make money..!
Now that I have some FX trading experience under my belt, I've noticed that the spreads between currencies seem to matter a lot more on the shorter time frames. If you're screwing around on the 5 minute chart, the spread will make or break whether you make a profit. If you're in a trend that takes a week to finish, the price is going to move significantly to the point where a few pips don't matter
Exactly, which is why I almost never talk about it
You have my vote of confidence VP!
No nonsense at all! only hardcore Forex. Noone could have present this cleaner! Thanks VP
Offense sells tickets but defense wins championships. -- Bryant
Missed opportunity to have an upside-down image for the Aussie
i very nearly used my question up to ask if GBP was still one of your favorite currencies during this Brexit mess ! glad i held off. Another great installment.
I feel like the news is just to gather a direction, it shouldn’t be used for entry triggers etc, unless you’re scalping 🤷🏽♂️
i was used to wait for weekends , now i wait for thursdays lol
WEEKENDS SUCKS !!! LOL
man, the best podcast on fx
I have understood and applied your direction related to news and not trading the currency within 24 hours of the news event as, not trading 24 hours BEFORE the event. I'm finding that sometimes the news event release causes movement in the pair enough to trigger a buy or sell signal. Since it was AFTER the event, I've entered trades and found that I am frequently immediately put out of the trade either by another signal or stop loss once the market normalizes after the news event. Does the 24 hour rule apply to BOTH before and after the news event? Also, for trading purposes, is the Friday trading day considered 24 hours prior to a Monday news event? Sorry for the question, I just haven't been able to tackle this answer on my own. Thank you for all you are doing.
Maybe, just maybe you are trading the news by trading (probably) immediately after the news. It makes more sense (to me) to close your failing trades and/or avoid entering just before the news, then wait it out on your daily chart (say for 24 hours). I don’t know if this submission makes sense but I do hope you get it.
Will be waiting for that Trailing Stop video, thanks a bunch brotha
Was waiting to be the first receiver of today’s video so badly 😎
Thank VP
Coming back for a revisit because my hand writing while making notes is... 🤤
Thanks VP... The Market does not follow the news but follows the Banks
Until the TRAILING STOP vid drops wouldn’t it make sense to use a trailing stop of 1.5 times the ATR monitored daily?
came from digitary.org
they have a section called forex news with a bunch of stuff like this
highly recommend
ur welcome
Hey VP just wanted to say! I think you have a currency strength indicator in your algorithm. I could be wrong but will have to wait and see ;) great video!
The very first 16 seconds of the video was good enough to click the like button :))
Thank you. A treasure trove of info. Don't judge video by the title only.
Can u plz do a video on you getting live profits?(or if you think that people will get to know your algorithm) just show us your trade history so that you're proved better than others because most Fx teachers on the UA-cam don't show their trades which kinda messed alot of people because they think those teacher may not be Fx traders.
The Forex Factory has 119 news events on the calendar this week. I'm glad I don't have to trade the news. The big banks are going to have a field day taking the money of those who do. It seem that as the weeks pass the calendar if adding more and more news events. Thank you for the advise you give on trading the news.
This is seriously fked up, i'm literally getting no trades when accounting for news events, *mind is blowing*
And it seems like all the good trades I would of had are getting deleted :(
VP is the 🐐 new traders please take this advice and don’t waste time trying to create a news trading system. In my naive days I thought I’d make 1000s per week trading news events and even used a squawk service which is £100+ per month to get the news that bit faster,needless to say I blew account 2 and had to go back to instant noodles and scrapping pennies together. Banks take those rates any directions they see fit and you’ll be obliterated.
some traders I know never watch the news at all including me just make sure to follow your set ups. You know you win more times than lose and following sentiment to confirm is awesome enough? Also market conditions can change and if your set up no longer works don't give up. Build another setup that works again. Never stop learning from a range of teachers and never stop improving your setups. Always learning :)
Hi, nice video. How to keep updated year over year on which news to track for each currency. I guess all slightly changed this year?
Thanks once again VP for this detailed video on the eight major currencies news events watchouts checklist.
When theses news events show up should we avoid the quote currency associated with the news as well?
For example: GBP/USD.
GBP = Base currency.
USD = Quote currency.
Lunkyful no, just avoid any pair that has said currency in it
I lost $100 tonight on the gbp pair it’s funny how this video comes out after the fact
IMPORTANT tu use ATR with GBP !!
He tweeted not to be in GBP or EUR pairs
Did you loose money because you didn't watch the news or because you watched the news
Sterlz With A - Z we all knew a brexit vote was happening
btw, I was all set to ask you about how to deal with the 2020 election given that it looks like it will be a multi-day event. I figured you hadn't covered it yet. I was excited to ask. And then you went published that very video! Man, you are just too quick at covering all the bases!
I knew that alread... I don't even bother to check the news...good job dude.
Today was Crude Oil Inventories and it seems to have a big effect on CAD. However it's not on the news avoidance list. Do you avoid trading CAD before Crude Oil Inventories? Should it be added to the avoidance list?
Thanks for sharing the game plan. i gotta view this video a few times. Now, i follow the game plan. I just did. Appreciate you for sharing true-to-forex trading principles and best behaviour.
Here is my theory. Big banks open equals amount of long and short positions to provide enough liquidity in the market. And base on how many long or short positions are filled, they can easily determine where the "Popular kids" are, and take price the other way. I don't think they can see our stop loss or stuff like that. But they have the luxury of opening thousands or millions position at the same time, with tons of capitol of course.
Great video VP! I must admit that I too am eager for the eventual release of your trailing stop loss/exit indicator video. Great work!
Hello. Please make a video about STOP LOSS and whether using it is a good or bad idea...
Hi VP! Could you please recommend a Trading psychology book? I’ve read Alexandre Elder’s “The New Living For A Living “, which is most likely addressed to Stock traders but its psychological part helped a bit. Thanks!
Hi VP! Ok, I went through your old vids and sourced some good tips. I just ordered on Amazon the following books: Rich Dad Poor Dad, The 4-hour Work Week and Jocko Willink’s Discipline equals freedom. 2019 will be my year, SouljaBoy’s voice, lol! Thanks again!
Thumbs Up VP. I learnt a lot from this video. You make learning flexible & relaxful (if there`s a word like that..lol)
I hate the news. When I was starting out I tried to make quick cash by trading the news. Trust me guys it's not worth it.
Is there an updated version for this? I assume the US News doesn’t really differ for indices traders who trade US500/100/30/2000
There is not sadly, and there probably won't be. Things are changing too often as far as what matters and what doesn't.
Thanks, VP! This was a great lesson and I really appreciate your candor. FYI, there is another site that I like to use to judge how news will affect the forex market. It can be found at www.fasteconomicnews.com/fx_calendar.aspx. Scroll down to the upcoming news event and select the event. Scroll down to the most recent release and select "chart" on the right. You will then have the option to select a chart time interval and the currency pair of interest to see how it was affected by the news event. This part of there service is free to use by anyone. Hope this helps!
the dormain is not working could you check the changes they made to it
Maybe a dumb question, but on the calendar how do I recognize "interest rates" Is there an abbreviation or will it say interest rate?
Thanks again man! Very rich content in this video. Not too heavy at all.
Thanks brooo
I do appreciatee
What are your thoughts on Bill Williams and his suite of tools? Got sucked into one of his videos after watching this one and my bias toward your way of thinking just had me shaking my head the whole time.
I don't use any of them. I used to use one, but in a completely different way. Will have a video on this.
@@NoNonsenseForex Definitely want to see that!
Another advantage with EAs with built-in news filter.
I watched a guy on another video showing how he trades the NFP. He set the trade to happen automatically and said "okay, while this happens, I am going to take a nap." Magically he won big (no editing there, of course). What I am quite certain of, in reality, is that the next thing he said after "okay, while this happens, I am going to take a nap" was "Do you want fries with that, sir?"
Thanks VP for the common sense advice on avoiding news that can play havoc on profits. Great video as always.
Chris Manley I take your point but please remember there are many ways to trade and each profitable trader finds his or her own niche. Takes practice and screen time for sure. Also what works for one won’t work for another unless you think everyone likes cheese or everyone hatesTrump. Find your niche within the forex world. 😏
Hi VP, just a quick question, Should I consider USD BIG events while I am trading another currencies such as (CHFJPY, EURGBP ...)?
25:50
"I'm hungry."
"Me two"
So what your saying is to avoid GBP and EUR until Brexit is over which is until March I believe, correct??
Just GBP
ya ya the trailing stop video ..... u r the man vp .... my loses are now very much less than ever
well, I hate to brag, but I thought Trump would win and I won my bet (political betting, yo!) on him. And I thought Brexit would cause vast anxiety and I went long gold futures and short the FTSE and won both (wish I had shorted Barclays...missed that one...)
Pay attention to news around full moons, the markets tend to go bananas around those times, especially with news
VP. Love your videos. The info is spot on. Do you produce them yourself? The audio is pro quality. Who or what system do you use for audio? I know the question is not forex related, but be a Dude and give me some crumbs. Thanks much.
These videos are low-level crap festivals in terms of production. Thank you though. Powerpoint and a microphone.
Hi VP, could you clarify if the events/news that you refer in your video relate only to those with actual numbers (i.e. Actual, Forecast, Previous (from forexfactory calendar)).
Using "Interest Rate" as an example, would any statement/speeches/ meetings with link to interest rate be considered as "Interest Rate" event to avoid, or are you only referring to when interest rate numbers are being published(e.g. BOJ Policy Rate).
Thanks.
Do you close all position and get out of the market regardless of currency pair or just on the currency of the news coming?
Thanks for your time & clear explanation on your trading strategies which I have been following for about a month now.
Frankly I agree with most of your view to a certain point. All in, it should be common sense that if you want to stay a winner most of the time, avoid high risk (and potential high reward or lost) trades.
Most times, for high impact news event, I only enter trades after the release...wait for the target pair to settle somewhat before entering any trade (if at all). Seems to work much better than to outguess market reaction before the news release.
I become A FAN a big FAN.
Do you usually hold your trades on weekends? Or do you just close all before starting a new week?
Episode 18 of the podcast has you covered here
I am Watching this again Beacuse It works! VP Rocks!!!! OHH Yesss
I had long positions on the JPY during the flash crash. My very first. I didn’t panic or close my positions, I just made money on the way down and back up. I made that flash crash my bitch. I’m looking forward to being on the “wrong” side of the next one.
You worried me for a few seconds. Then a sigh of relief when you revealed that trading the news is futile. Imagine putting all the breaking stories and economic "news" into a basket then pulling one piece out and making any sense of it .
Hey NNFX - With all that's going on in the world, would you pretty please dressed in a MET Gala ball gown dress do an update for this video? EVZ is above 8, money is flowing into our market but I seem to be missing quite a few trades because of news (AUD!!!!). I think the community would really benefit from your thoughts on current affairs, view on inflation, news and how these affect the way we trade the NNFX way.
what about oil news for CAD? OPEC news. - as a short term, and all this trade war with China talks ( or explanation of ) that involve USD??? Great video as usual. there is this saying in Spanish - when the student is ready, the teacher appears. Thanks, VP.
Episode 19 of the pod
@@NoNonsenseForex Most likely all the hoopla is from day trades, that is more sensitive to sai;y price swings. I will treat oil and gold as market awareness and thanks for the extra time.
So for example if I go onto forex factory and I see the USD is in red, do ignore the 9 USD currency pairs or for example like the eurusd, audusd, etc?
Do we re-enter trades after the news day?
If yes, what are the rules?