NFP setting

TRADEWIND · #1 12-13-2008, 07:19 PM

HI
I really like this forum, give me a lot of infomation. Thank you very much. I change my auto pilot setting to Eagle's setting, start trading a lot, specially EURAUD. The spread is big but still work.
I have question re NFP setting. Manual doesn't explain well.

What is step1,2,3,4,5 time out minute, hour , and close after minutes?
How do you folks set those parameters? My broker GMT offset time is -5 and +2. I have one live and one demo.

Alicia

jefe · #2 12-13-2008, 08:43 PM

MY suggestion is to place NFP in the recycle bin on your desk top... Still haven't recovered from the losses from that POS program... ($1300-$560 in less than 10 minutes)

alan · #3 12-15-2008, 02:42 AM

Quote:

Originally Posted by jefe

MY suggestion is to place NFP in the recycle bin on your desk top... Still haven't recovered from the losses from that POS program... ($1300-$560 in less than 10 minutes)

jefe, news trading is risky, you gotta be careful...was that a live account?

jefe · #4 12-15-2008, 06:37 AM

Yes it was.. I was actually running it on two live accts. One went from $300-$150 and the other went from $1300- $560...

I had used the program successfully the day before, so I up'd the lot size a bit to .20 v. the default of .10.

It's probably my fault for not being infront of the computer at the time. FAPS was running on a seperate chart.

Next time I'll just let FAPS do its thing. It's too bad because from a theoretical standpoint NFP should Kicka$$....

For me it's just gambling Money still at this point, I was going to re-bulk up the acct's - but then my voice of reason said (this would be the third time for one.. LOL) THIS ISN"T A SLOT MACHINE...let it ride...

alan · #5 12-17-2008, 01:39 AM

Quote:

Originally Posted by jefe

Yes it was.. I was actually running it on two live accts. One went from $300-$150 and the other went from $1300- $560...

I had used the program successfully the day before, so I up'd the lot size a bit to .20 v. the default of .10.

It's probably my fault for not being infront of the computer at the time. FAPS was running on a seperate chart.

Next time I'll just let FAPS do its thing. It's too bad because from a theoretical standpoint NFP should Kicka$$....

For me it's just gambling Money still at this point, I was going to re-bulk up the acct's - but then my voice of reason said (this would be the third time for one.. LOL) THIS ISN"T A SLOT MACHINE...let it ride...

Dang, that's $2 per pip! I estimate that you had a 370 pip move go against you (roughly).

Hmm, I for one would not recapitalize my account had I suffered such a massive loss. What I would do is trade with smaller lot sizes until I have recuperated the loss. This at the very least would teach me a harsh lesson; one that hopefully would stick.

jefe · #6 12-17-2008, 05:25 PM

Quote:

Originally Posted by alan

Dang, that's $2 per pip! I estimate that you had a 370 pip move go against you (roughly).

Hmm, I for one would not recapitalize my account had I suffered such a massive loss. What I would do is trade with smaller lot sizes until I have recuperated the loss. This at the very least would teach me a harsh lesson; one that hopefully would stick.

Fortunately I like to learn the hard way, but I'm usually better for it in the end. It's also cheaper than Walden (~70K/ year) and I'm too old anyway.