August 2008
Intermediate to advanced
208 pages
6h 50m
English
book
Sentiment in the Forex Market: Indicators and Strategies to Profit from Crowd Behavior and Market Extremes
by Jamie Saettele
Content preview from Sentiment in the Forex Market: Indicators and Strategies to Profit from Crowd Behavior and Market Extremes
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P1: PIC/b P2: c/d QC: e/f T1: g
c02 JWBK195-Saettele May 31, 2008 11:19 Printer: Yet to come
30 SENTIMENT IN THE FOREX MARKET
CONCLUSION
I am not blind to the fact that market moves can be considerable and vio-
lent in the minutes following an economic release. However, trading during
these times is far from strategically optimal. For one, liquidity is at a pre-
mium during these times which makes it difficult to enter and exit a trade
at will. A common problem that news traders face is slippage. For example,
even if a trader is on the correct side of the trade for the initial knee-jerk re-
action following the news release, there is no guarantee that the trader will
be able to exit the position due to a fast moving market. In an even worst-
case scenario, a trader may find that price gaps over his or her stop order
following the news release, resulting in a much larger loss than planned.
The risk of additional costs to the trader increases significantly during
news release times. If you are looking for an adrenaline high, then scalp-
ing news-driven price action is for you. If your goal is to make money by
trading the FX market intelligently, then I believe that this book can help
you develop a better approach. Trading is difficult enough, so why subject
yourself to an increased risk of failure. The crowd loves this kind of trading
because it provides instant excitement. More often than not, a price ...
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I'm always learning. So when I got on to O'Reilly, I was like a kid in a candy store. There are playlists. There are answers. There's on-demand training. It's worth its weight in gold, in terms of what it allows me to do.