Iron Ore Price, page-1453

From my initial experience from trading big news event, it is just a big gamble and not trading. There is no calculated risks etc... because you don't even know how many pips the initial move is. I mean a split second move and faster than the eye can see. For instance I have a mate that uses a software to trade on his behalf on these fast moves. Within that second his software trader could be in and out of trades 100 times! By the time you see the news, hit the market order, the price would have gone up a lot of pips and you'll be buying or selling at the extreme levels on a manual entry. Yes it is exhilarating for the novice trader but believe me there is not free lunch. Another strategy is staggering the market, you put a long and short order simultaneously just before news within a distance form the market price. @NEWS either order is taken and Yipee you are in, no sweat right. Problem, the spread will usually give the crappies fill and more likely to get it at the extreme end again. If the news is uncertainty, you get whip sawed in a few seconds and Yikes a long and a short both in loss and if the stops cannot handle the spike 2 stop out almost instantly.

There are a lot of variables hence like the Guinness beverage advert, "Less is more". I thought this was ludicrous when starting out. How can you make more trading less! It is all money and trade management and not which indicators will make money! It is all a numbers game. It is all risk reward. Good luck learning FX trading.