I've done a quick look back through August of last year with regard to US Unemployment announcement Fridays. Always the first Friday of the month. In some months the GBP rate announcement happens on Thursdays of that same week. Other times it is on the following Thursday. This is because the GBP Rate announcement is made on Thursday of the first FULL week of each month.
When both announcements fall in the same week, the odds of Mavin making a bad call are increased on the Friday unemployment news day. But in months where the announcements fall in different weeks, the unemployment news day is not especially bad to trade... just be sure to close your trade no later than an hour before the news or you are at the market's mercy. If a trend develops after the news it is probably okay to trade, but there seems to be a little higher probability of a loser then... And if there is no appearent trend, just back away from your computer for the rest of the day.
This week we see both announcements in the first week so the word to the wise is don't trade tomorrow... ... hmmm... Will I take my own advice? hmmmm....
So tomorrow, which is often a very flat day (before US numbers post) could be a tough trading day too. But I think there is so much news out today we will probably see a trend into at least the early part of tomorrow, so I'll be looking for my entries much later today into the early AM tomorrow -- At least with the Mavin. I have no idea what the London open will bring, so I'll probably stay away from anything there on Thursday. But I do expect the US market open is going to leave us largely directionless, so I think that might be it for me for the week, unless I don't heed my own advice... At least with the Mavin.
When both announcements fall in the same week, the odds of Mavin making a bad call are increased on the Friday unemployment news day. But in months where the announcements fall in different weeks, the unemployment news day is not especially bad to trade... just be sure to close your trade no later than an hour before the news or you are at the market's mercy. If a trend develops after the news it is probably okay to trade, but there seems to be a little higher probability of a loser then... And if there is no appearent trend, just back away from your computer for the rest of the day.
This week we see both announcements in the first week so the word to the wise is don't trade tomorrow... ... hmmm... Will I take my own advice? hmmmm....
So tomorrow, which is often a very flat day (before US numbers post) could be a tough trading day too. But I think there is so much news out today we will probably see a trend into at least the early part of tomorrow, so I'll be looking for my entries much later today into the early AM tomorrow -- At least with the Mavin. I have no idea what the London open will bring, so I'll probably stay away from anything there on Thursday. But I do expect the US market open is going to leave us largely directionless, so I think that might be it for me for the week, unless I don't heed my own advice... At least with the Mavin.