Comments on: In and out of the zone http://www.forexspirit.com/2008/03/16/in-and-out-of-the-zone/ Colin McGinley's journey of forex trading by a thousand cuts Tue, 24 Jan 2012 06:42:32 +0000 hourly 1 http://wordpress.org/?v= By: Snake86 http://www.forexspirit.com/2008/03/16/in-and-out-of-the-zone/comment-page-1/#comment-935 Snake86 Mon, 24 Mar 2008 23:29:10 +0000 http://www.forexspirit.com/2008/03/16/in-and-out-of-the-zone/#comment-935 Hi Paul, If you are tracking the Australian Dollar, I would suggest The Sidney Morning Herald website. Their information so far seems to be of quality and it's a reputed news source. Website: http://business.smh.com.au/ The other sources pointed out are quite timely in providing their information. In addition, CNBC London/Europe not only gives real time releases of UK economic data but also that of USA, you would normally find Rick Santelli giving his pre and post release on-air editorial. Watch out for some of the commentators or guests on the CNBC though, they can be VERY unobjective. Bloomberg, Financial Times (content overlap), Reuters Daily Investor Briefings (morning soure), CNBC.co.uk & TV Hope that helps your quest for better news source. Snake. Hi Paul,

If you are tracking the Australian Dollar, I would suggest The Sidney Morning Herald website. Their information so far seems to be of quality and it’s a reputed news source.

Website: http://business.smh.com.au/

The other sources pointed out are quite timely in providing their information. In addition, CNBC London/Europe not only gives real time releases of UK economic data but also that of USA, you would normally find Rick Santelli giving his pre and post release on-air editorial. Watch out for some of the commentators or guests on the CNBC though, they can be VERY unobjective.

Bloomberg, Financial Times (content overlap), Reuters Daily Investor Briefings (morning soure), CNBC.co.uk & TV

Hope that helps your quest for better news source.

Snake.

]]> By: Colin McGinley http://www.forexspirit.com/2008/03/16/in-and-out-of-the-zone/comment-page-1/#comment-932 Colin McGinley Thu, 20 Mar 2008 03:12:16 +0000 http://www.forexspirit.com/2008/03/16/in-and-out-of-the-zone/#comment-932 Sorry for the lack of replies to the questions asked so far in the comments here. I've been swamped at work this week. Paul, I generally get most of my trading news and economic data releases from the following sources: CNBC, Forex Factory's calendar page and my broker's news feed. I generally use the Forex Factory calendar to keep up-to-date on what data will be coming out in the near future. I generally listen to the actual data releases on CNBC, using my broker's news feed for confirmation. I follow market news primarily on bloomberg.com throughout the day. For any Euro area specific economic releases that aren't covered by CNBC I'll use the UK television feed on bloomberg.com. I normally only ever need to use this for BOE and ECB rate decisions. For the majority of the other Euro and British data releases I'm sound asleep :) Hans, I will endeavour to do a posting soon on how my stop loss strategy has evolved this year. Sorry for the lack of replies to the questions asked so far in the comments here. I’ve been swamped at work this week.

Paul, I generally get most of my trading news and economic data releases from the following sources: CNBC, Forex Factory’s calendar page and my broker’s news feed.

I generally use the Forex Factory calendar to keep up-to-date on what data will be coming out in the near future. I generally listen to the actual data releases on CNBC, using my broker’s news feed for confirmation.

I follow market news primarily on bloomberg.com throughout the day.

For any Euro area specific economic releases that aren’t covered by CNBC I’ll use the UK television feed on bloomberg.com. I normally only ever need to use this for BOE and ECB rate decisions. For the majority of the other Euro and British data releases I’m sound asleep :)

Hans, I will endeavour to do a posting soon on how my stop loss strategy has evolved this year.

]]> By: PaulStafford http://www.forexspirit.com/2008/03/16/in-and-out-of-the-zone/comment-page-1/#comment-931 PaulStafford Thu, 20 Mar 2008 01:08:40 +0000 http://www.forexspirit.com/2008/03/16/in-and-out-of-the-zone/#comment-931 Colin I am a class of 08 mentoree with Dr Forex. demo trading for about 6 weeks now. had done great (who wouldn't in Feb long EUR) suck now with a couple sad choices (long Aussie/USd, short USD/CHF), and the recent Fed actions have not been kind to my positions. almost back to original $10k...sigh. thankfully had not yet gone live, or my wife would be unhappy... I seem to be lacking a source of timely, useful currency data. most of my data comes a little late, and haphazardly. I used the Daily Pfennig, but that led me to other poor decisions, too. have you found anything worth monitoring for the main currencies (EUR, USD, CHF, AUD, JPY). Colin
I am a class of 08 mentoree with Dr Forex. demo trading for about 6 weeks now. had done great (who wouldn’t in Feb long EUR) suck now with a couple sad choices (long Aussie/USd, short USD/CHF), and the recent Fed actions have not been kind to my positions. almost back to original $10k…sigh. thankfully had not yet gone live, or my wife would be unhappy…

I seem to be lacking a source of timely, useful currency data. most of my data comes a little late, and haphazardly. I used the Daily Pfennig, but that led me to other poor decisions, too.
have you found anything worth monitoring for the main currencies (EUR, USD, CHF, AUD, JPY).

]]> By: MarcoA http://www.forexspirit.com/2008/03/16/in-and-out-of-the-zone/comment-page-1/#comment-930 MarcoA Mon, 17 Mar 2008 16:05:00 +0000 http://www.forexspirit.com/2008/03/16/in-and-out-of-the-zone/#comment-930 Hi Colin, I can totally relate with your post. I’m relatively new to forex. I’m trying to be fairly mechanical in my trading. So far I’ve been consistently profitable at the end of month, but find the ups and downs during the month mentally draining. Every trade result is independent of every past trade, but a large win or series of winners seems to beget a series of losers. If I get on the right side of a large profitable move and see the account balance rise quickly, I know that I’m going to be giving back some of that during the following days or week. Bo Yoder, in his current book ‘Optimize Your Edge’ calls this a payout/ payback cycle. There is always a regression to the mean, which we just have to accept. So long as that mean result remains positive, then we should be OK. Marc Hi Colin,

I can totally relate with your post. I’m relatively new to forex. I’m trying to be fairly mechanical in my trading. So far I’ve been consistently profitable at the end of month, but find the ups and downs during the month mentally draining. Every trade result is independent of every past trade, but a large win or series of winners seems to beget a series of losers. If I get on the right side of a large profitable move and see the account balance rise quickly, I know that I’m going to be giving back some of that during the following days or week. Bo Yoder, in his current book ‘Optimize Your Edge’ calls this a payout/ payback cycle. There is always a regression to the mean, which we just have to accept. So long as that mean result remains positive, then we should be OK.

Marc

]]> By: Hans http://www.forexspirit.com/2008/03/16/in-and-out-of-the-zone/comment-page-1/#comment-929 Hans Mon, 17 Mar 2008 03:24:36 +0000 http://www.forexspirit.com/2008/03/16/in-and-out-of-the-zone/#comment-929 Hi Colin, I have also been in the training programme of Dr. Forex. Have only been live trading for roughly 3 months and almost got margin call on my account. My problem has been how to handle use stops on my losses. Therefore I had number of position like way, way out of the money and those positions almost killed my account this morning when the EUR rushed up to 1.59. I recall you had your share of bad moments in December but after that you decided to set a stop loss of 100 pips. How is that strategy going? Have actually been thinking about this for a while - and maybe I should have acted a little bit earlier. Rgds, Hans Hi Colin,

I have also been in the training programme of Dr. Forex. Have only been live trading for roughly 3 months and almost got margin call on my account. My problem has been how to handle use stops on my losses. Therefore I had number of position like way, way out of the money and those positions almost killed my account this morning when the EUR rushed up to 1.59. I recall you had your share of bad moments in December but after that you decided to set a stop loss of 100 pips. How is that strategy going? Have actually been thinking about this for a while – and maybe I should have acted a little bit earlier.

Rgds,

Hans

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