Dear Friend, Would you like to get all the juicy shocking revelations about what is happening to you when you “think” you’re trading? What, you still think you’re a trader? Well, get over it, you’re not…you’re a gambler. Plus you’re a witch. Wise up, the good old days of witch hunting like in Salem, Mass. are back, but now it’s witch hunting in forex country! Well, what to do so you don’t get burned at the stake? First thing, I’d suggest you get your hands on this e-Book. It’s brand new, and currently in pre-release. It's shocking, revealing and dismaying. I hope it will also give you some direction and guidance and strategies. It may change your mind about a few things. It may challenge your trading style. It may shock you and enrage you. It may suggest that you try a few new things. It will definitely tell you to try my new favorite brokerage. For any news trading strategy, it's very important to choose a forex brokerage that doesn't mind you trying to trade the news, or news scalping, if you can find such a brokerage! LOL. Needless to say, most brokerages don't like us to news trade, their loss (our gain) can be too great. And so let the games begin! A major negative thing to look out for is a brokerage that will drastically widen their spreads just before or during a news release. Recently, a very popular trading platform has been guilty of widening it's spread up to as much as 30 pips during a US news release! Also, some trading platforms will delay your market entry order until you get filled at the top of a spike. Other trading platforms re-quote your price so often that you can't get a good price fill. Extreme slippage is common. Some platforms actually freeze, for minutes or even hours! Others simply don't honor your stops or limits and probably all of them engage in stop hunting. For instance, just the other day, I had put on a trade that was the safest straddle trade possible, in a favorite well-known brokerage trading platform. Well, being the US Non-Farm Payroll news release, otherwise known as “Freaky Friday” (the first Friday of the month), it typically experiences the most trading volume and volatility of all the US news releases. I had put in my stops and limits on two currency pairs that hedge each other and entered the orders right before 8:30 am EST and all orders were immediately accepted. The trouble began when the price spiked up and the trading platform froze! The platform was frozen for about three minutes! I had another trading platform open at the same time and it performed fine and I could watch the price action. It was a perfect sell-off of the Eur/Usd and purchasing of the Usd/Chf, no back and forth swings for this news event! Well, when the trading platform finally started showing prices and bars, I was dismayed to see that one stop had been triggered 33 pips beyond my stop order! After beating my head on the wall, I then noticed that the other buy limit order had executed at +31 pips! So all in all, I only lost 2 pips on this trade, and I considered myself lucky. Of course, my target had been 75 pips, and I should have gained that, but for the slippage and frozen platform. But before I had discovered the 31 pip gain (and while still in shock), I had written an irate email to the brokerage complaining about the frozen platform and the 33 pip slippage. Here is what they wrote back: “Dear Cynthia, Thank you for contacting us. Our server did not freeze, but because the market was moving so fast, there were not prices available due to market volatility. Stops and pending orders are not guaranteed especially during news releases. We apologize for any inconvenience.” Note, Dear Reader, that they said “especially during news releases”. Wow! This means that you have, in essence, no control over your trades, they can do whatever they want to your trades. I don’t know about you, but this makes me very very nervous and wondering if I even want to risk my hard-earned money in such a manner. Is this really “trading” or “investing”? It smacks more of “gambling”. After all, skill and controlled risk is what makes the difference. If my efforts at obtaining skill and discipline are not going to make a difference, then why would I want to risk my money? It's been mentioned on many forums that many of these problems don't occur in new live trading accounts that in the beginning inevitably lose money. It's been said that the brokerages like to let a new account win without engaging in the games and tricks....but these games and tricks start about the time a trader starts to make money in his account. As a trader becomes more confident, he'll inevitably start increasing his margin, and when that happens, it's been said that an account will be switched from electronic to manual execution, and that's when the fun and games begin! Stop hunting, slow responses, poor fills, lack of respect for stop and limit orders, frozen platforms, disconnects, even outright blockage of IP’s, etc. start to plague the bewildered trader! It's also called “trading directly against the trader”. The biggest culprits in the forex brokerage world are the dealing desks....but how to find an honest dealing or non-dealing desk for the little guy seems to be a major problem.
Still want to trade the news? You may want to re-think your trading strategies!
Maybe we shouldn't even try to trade (gamble) the news! Maybe we should be concentrating on developing a real trading strategy, maybe something with a sound principle behind it, like a math principle or something. Fibonacci and Fractals and Correlation Co-efficients are a good start, they are tried and true. Reading the posts in the forums left me feeling that forex trading is a zero sum game for the newbie or average trader, that the odds are stacked against him or her, that Russian roulette would be safer. After all, if you play Russian roulette with a gun that holds 10 bullets, and you load it with 2 bullets and spin the barrel, you would still have an 8 out of 10 chance of surviving. Many of these posts made me feel like forex news trading doesn't even give you a 50/50 chance of winning! And yet, if you enter a news release trade right before the bell, and you enter only long or short, you should at least have a 50/50 chance of being on the right side of the price run, BUT ONLY IF YOU CAN GET A FAIR SHAKE FROM YOUR BROKER! Unfortunately, according to the posts in the forums, that doesn't seem possible. The horror stories were truly incredible! So, choosing a good forex brokerage that minimizes the above problems, is like trying to walk through a mine field....surely a mine will explode at some time, directly under you or near you! Be prepared, if you can! If you want to trade the news, you have to accept that slippage, re-quotes, bad fills, stop hunting, slow responses or even freezing of the platform, etc., will occur. Most of the forex brokerages engage in these games, to your account and emotional detriment, some more than others. It's called "the cost" of trading a high reward strategy. If you want to trade the news, and you stick with your current broker, no whining allowed! However, it seems that if you get “tagged” as a news trader or scalper, you'll find yourself experiencing more problems than most position traders. This e-Book will explore some possible ways you can protect yourself. It will teach you how to check up on a brokerage to see what litigations or complaints have been posted against them. You'll also learn to check up on the financial condition of a brokerage,...why trade with a shaky one that might not be here next year? Possible? You've heard of the Refco disaster, haven't you? And I'll tell you about my new favorite brokerage, I love them! You'll learn more about the myth of "commission-free" trading! We'll look at "Dealing Desks vs Non-Dealing Desks". And explore the very real possibility that there is no such animal as a non-dealing desk for the little guy, that it's probably just another lie. You'll learn about hedge trading, probably the most controversial and misunderstood trading method....even old long-time traders don't get it! You'll learn about Correlation Co-efficients...what it is and how you can use it to better your trading, and what trading method most benefits by using it. We'll explore what we're really doing...are we traders, investors or gamblers? And most importantly, we'll look at the best strategies for trading the U.S. News.
Just look at the Table of Contents: Chapter 1 -
US News Trading: Let the games begin! Chapter 4 - Money ManagementChapter 5 - Trading Psychology Chapter 6 - Strategies to Trade The News Releases Chapter 7 - Other Interesting Trading Methods and Resources Chapter 8 - A Review of Robot TradingChapter 9 - A Review of Forex Trading Systems That Use The MT4 Trading Platform and Offer Custom Indicators Chapter 10 - A Review of Other Forex Trading Systems that Cynthia Recommends Chapter 11 - Forex e-Books That Teach Through VideosChapter 12 - Miscellaneous Other Things of Interest
This latest e-Book was written for frustrated and angry forex traders, especially news traders, who feel they’ve been given the shaft by their brokerages. I went on a rampage several months ago, fueled by my own anger and frustration, to find an honest brokerage. What I discovered during my research was so disheartening that I honestly felt like quitting forex trading forever! Imagine! For a forex junkie, that’s a pretty sad way to feel! What I discovered about brokerages was truly shocking and very disturbing.Then, a miracle happened. I was introduced to a relatively new brokerage that was like a breath of fresh air. I felt hope again. I tried them out and I fell in love. You can experience them too. You won’t believe their customer service! And what a stable trading platform and NO DISHONEST GAMES! You’ll love them too! Let’s face it, it’s not easy to learn how to trade the forex market, and then it’s not easy to learn technical analysis. And then to practice for hours, days, weeks, months, years, just to go blind and broke! Why is this? Is it because we just don’t have what it takes? Do our trading skills truly suck or is our sub-conscious sabotaging us? Do the statistics lie? Do 95% of forex traders not have what it takes? How can this be? What is so against us? Are “we the enemy” of ourselves? Or is something else going on? What am I talking about? I’m talking about the brokerages themselves. It seems that we aren’t really trading at all. No. We are gambling. If we have spent months and years honing our trading skills and our mental and emotional disciplines are ok, then why can’t we make decent money, even get rich like all those forex strategies proclaim and promise? “Turn $1,000 into $1 million in 24 months!” Yeah right. Well, did you know that if you’re a news trader, then you’ve been tagged as a “witch” by your brokerage and now the games against you have started. If you’re a news trader, you’ve probably experienced what I like to call the “witch hunt”. Stop hunting, that is. Programmed slippage too. How 'bout freezing platforms? Did you know that it even gets worse than that? Would you be shocked to learn that your brokerage can block your IP address during a news trade so you can’t access your platform? It’s been known to happen. I'll show you where to read these horror stories in the forums. And what about spreads widening to 30 pips before, during and after a news release? What about spreads widening even without a news release, for no good reason? And what about the interest they charge you for open trades and the interest they don’t pay you? Ok, don’t get me started. I can go on and on. Actually, I have so many things to tell you about all of this, that I did write an e-Book about it, that's what I'm trying to tell you. Here’s what I’m calling it: The Perils, Pitfalls and Rewards of Trading the U.S. News Releases
If you're serious about your forex trading, you get this new e-Book right now and read it today. Do you want to know what it will cost you to get this shocking, revealing and enlightening information, information that will change your trading results forever? I'm offering my new e-Book at a reduced price, because it's in Pre-release,
so if you order today you can have it for only $99 instead of $129.
Truthfully, you need this information....you can't afford NOT to buy it. Click the "Order Now" button below. If you need to justify the expense, skip taking your family to McDonald's for dinner this month and it's paid for. And think of all the stop losses you'll be saving from stop hunting, once you learn what brokerage to use. And no more outrageous pip widening games either! Get mad! Do something about it! Get educated! Click the Order Now button NOW! Don't wait because the price will be going up soon! Ordering is easy, safe and fast using ClickBank, the largest and most trusted payment provider on the internet.
Once your credit card is approved, you will be taken to a special download page where you can download The Perils, Pitfalls and Rewards of Trading the U.S. News Releases eBook in pdf format and start using it today!
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Forex trading is a serious business and the money made or lost is real. It is absolutely vital to have a knowledge of what perils, problems and pitfalls to avoid to gain an edge over the market. You'll have the power of knowledge and a substantial advantage by reading The Perils, Pitfalls and Rewards of Trading the U.S. News Releases. (* Forex trading involves a substantial risk of loss.)
Best Regards, Cynthia Macy, DayTradeForex.com
P.S. Seriously, you need to get enlightened! You need to learn what's really going on in the wild wicked world of forex. This eBook will shock and educate you. How can you pass on that? You NEED this information to succeed! Act now! P.P.S. Interested in Robots that trade for you? Click here to get more information about The Hot NEW Robot Review Report!
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