03One morning, two ways
The same morning with five tools, and with FxMind.
The US inflation report (CPI) comes out today. You trade EURUSD with a prop firm's money. Your firm does not allow open trades during big news.
Five separate tools
- 07:40You open a calendar site. CPI at 08:30, marked red. You note it and close the tab.
- 07:50You open your prop firm's site to check the daily loss limit. You have to log in again.
- 07:55The chat group says EURUSD is going up. No reason given. 214 unread messages.
- 08:02You buy 2 lots of EURUSD. Good entry. Now you watch the chart, not the clock.
- 08:30CPI comes out. Price jumps through your stop loss and fills 6 pips worse. You held a trade during big news.
- 08:41Email from the firm: you broke a rule. The account is closed. The test fee is lost.
- 21:00Your journal spreadsheet was last updated nine days ago.
Cost of the morning: a prop firm account.
One app
- 07:30The New York summary arrives. CPI at 08:30. EURUSD moved 45 pips on average after the last 12 reports.
- 08:02You buy 2 lots. The trade goes into your journal by itself, with the news of the moment saved.
- 08:18News Guard: CPI in 12 minutes. Your stop loss is 18 pips away. Your firm does not allow open trades during it. Close or reduce.
- 08:18You tap Close trade. It closes in 119 ms. The receipt is in your inbox.
- 08:30CPI comes out. EURUSD moves 52 pips. You have no open trade, and the account is fine.
- 17:00Trade Review: one trade, +0.4R (0.4 times your risk), closed before the news as your firm requires.
Cost of the morning: 12 minutes less in a trade you liked.
This is an example story, not a real account. FxMind does not know where price will go and does not tell you what to trade.