 trading the news with a news robot
It seems that the market is it's most crazy during news releases, which I think is the best time to make money (and lose money).
Here is what I am thinking of doing :
place a buy stop and a sell stop 15 pips away from the price @ 8:29 AM EST (1 min before news) with a 34 pip stop loss. So if the price was 1.8000, I would put a buy stop @ 1.8015 and a stop loss of 1.7966 and a sell stop @ 1.8034. Each position would have a 100 pip take profit.
I would close all position by 8:50 AM EST.
Comments? Suggestions? |