indeed. Oanda was the first one to learn in 2006 as they lost around 5M usd out of their 10M hedge fund they used to offset their market making portfolio. After that they started to show their infamous 50 pips spreads during the news. Hard to blame them though..
For this week I am only going to follow 3 reports. I sent another request about the real account but no reply so far.
For today is the CAD interest rate.
On Thursday the US Core CPI
and finally on Friday the US Existing Home Sales.
There are more reports that Nelson is going to trade this week.
Just finished trading the US Core CPI. He used the usd/jpy. A 0.2 deviation was needed to trade it. It was a no trade. Nelson told me that the software can be adjusted to trade 2 reports. I do not know how this can be done but I am just mentioning it.
Bye bye News Trade Sniper.
I stop following the signals since it does not make sense to trade the news on a demo account. Nelson was telling me that David was trading the real accounts and he was trading a demo. The reason is that Nelson had to answer questions, deal with webinar issues and therefore he did not want to risk real money without being 100% committed. I asked for a small real account just to make sure that it does not freeze, or suffer from slippage or at least a link to David's real accounts where we could see if the trades were properly filled and executed.
On the other hand I have to admit that Nelson gave me the feeling that he is a real trader, he knows how to trade, he is very friendly, polite and always willing to help and answer questions. The retracement trades (from the spikes) were in most cases successful and those were the only ones that I could certify as valid winning trades.
Additionally it is a rather expensive service and you are tight for life. You need them for trading since for the software to function a call to their servers is needed. So you will never be able to trade the news alone and always depend on their service.
All this kind of event-trading signal services are as good as broker you are using. And almost none would tell you the good broker, since a mere informing wide community (or even narrow one) of traders about this broker will indeed seize the opportunity for everybody. There is a good free even trading room with free signal software, also you may get some information about real brokers being used. If someone is interested I can mention it via PM. All that said, news trading is at it worst stage now, so if you want to start to trade news, better select some other moment to avoid frustration and time lost..
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