This thread is for those who wish to discuss, in real-time, the Newsnight Trader system.

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Thanks for the trading room ReviewTeam. I'd like to ask if anyone took a trade last week or this week in fact? RH seems to say that there was one last week, but I'm not 100% it appeared on SLM. How do you guys think it should be played? i.e. ignore anything outside your chosen broker, or play the official trades?

For this of course we'd have to ignore the Forex Net Trap approach which was a little selective on occasions when the official results were reported. The update this week has further promises of an advanced Newsnight strategy... here's hoping!

In fact, here's RH's update for posterity - ReviewTeam please let me know if it's not allowed

So the trades from Thursday 3rd March were stopped out on the morning of Thursday 10th March.

This was basically on the news release of Moody’s downgrading Spain to a negative outlook.

Obviously that is very negative for the EURO especially following a similar release regarding Greece debt being downgraded earlier in the week.

I hope you appreciate what uncertain times we are living in at the moment. This is making currency markets very jumpy and difficult.

As you know the Middle East is in crisis which has been weighing heavy on the markets, plus we’ve also had the earthquake in New Zealand and on Friday an even bigger disaster in Japan.

Factors such as these can cause currency markets to surge one way then quickly turn around and go the other as people try to make sense of it all.

In terms of our results it is disappointing, but we have to accept unpredictable news like this happens from time to time.

That’s why risk management is so important for long term success because the truth is no matter how good your system is, you never know exactly what will happen.

However putting this in perspective, even after having three losing trades out of 5 this year; if you followed the conservative risk management rules you would now only be down by 1% in your trading account.

If you had been using the more aggressive risk management you would be 2.5% down for this year.

This is not a disaster by any means bearing in mind how difficult the market conditions have been.

So we are now looking for the next trade opportunity and please remember in times like these traders need to hold their nerve.

So there are now no outstanding trades and we will look for the next trade signal on Monday night.

We could soon get some excellent trade opportunities, so please don’t lose heart.

I’m also planning to share some other ways you could use Newsnight Trader in the coming weeks. These have been giving me some excellent trades during the day.

Some interesting thoughts on using this system during the day? Also there was the usual text about joining the official Newsnight forum - I wonder if they are still censoring people's fair comments over there?

Z

Hi Z,

We too were on SLM and did not take a trade so we will not be reporting this as a loss. Is the update allowed? If we are asked to remove it we will otherwise we see no harm as it's potentially useful information for others.

Haven't seen any "enhanced" version yet and to date have not had to censor any posts on this thread - Hope not to have to either

Almost zero chance of a Newsnight trade this evening for us.

We are Long the EURUSD based on a valid signal last night.

Just to report - Target 1 has now been hit

Aww darn it. I thought things were looking too wobbly so I didn't bother. Typical! Well, never mind, there's always another one around the corner.

Originally Posted by Reviewteam

Just to report - Target 1 has now been hit

strange... RH tooka trade friday with tp1 4320? he didna take one thursday.

?

On SML it was for sure a valid trade for us on Thursday, we are not sure which broker he uses but these differences may occur broker to broker from time to time. We believe he actually took a trade a week or so ago but we did not.

I thought the TP was 14320 which didn't hit on my platform