Thanks for the reply guys!!!!
Which means you guys straddle +- 5 pips from the current price, not high and the low of the current bar?
When you modify your order last 20 seconds from the news, do you have enough the time to modify both of your orders for profit target and limits?
Which broker do you use? I'm planning to change my broker very soon.
Thanks in advance
Which means you guys straddle +- 5 pips from the current price, not high and the low of the current bar?
When you modify your order last 20 seconds from the news, do you have enough the time to modify both of your orders for profit target and limits?
Which broker do you use? I'm planning to change my broker very soon.
Thanks in advance
Quoting BurgerKingDislikedI now place orders 200~500 pips away from the price many minutes (sometimes hours) ahead of the news. Then I modify the orders seconds before the news; in this case 4:44:40PM NY Time.
PRO:
* I dont risk getting entered by a false spike before the news.
* Some brokers dont allow putting orders seconds to a minute before the news. Putting the orders early ensures I have the orders.
CON:
* It wont work when the news is released early. So far, early releases happened mostly with CAD news and US FOMC.Ignored