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Good source for Fundementals/News

  • #41
  • Nov 5, 2006 12:38am Nov 5, 2006 12:38am
Quoting MaXeY
Hello

Just simple question i dont understand yet...

When you traded NFP

lets say someone subscribe with Reuters and pays 1500$

so you got the numbers before News Release 2 sec

>> ok you got the number before news 2 sec, so u need to place ur order (2-3sec for your mind to decide long or short) and 2 sec to place the order

total : 5 sec

so u already missed the spike ?!!!!!!!
Maxey, the numbers are released to everybody at the same time, and my service gets it the second they are released. I dont have to pay 1500$, i pay less than 200$/mo for bloomberg/reuters. No need to waste 2-3 secs deciding ur action, u set ur triggers based on ur choice of deviation before the news is released, when u get the number, a buy/sell or no trade pops automatically, u just need to put in that order which is < 1 sec.

Sma
  • #42
  • Nov 5, 2006 3:39am Nov 5, 2006 3:39am
Quoting jon167
Yes, but if you get some software to automatize your trade you can place it before the spike. But to be filled before .... it's very, very dificult.
Cool,
so how this s.w works? , and it's free?, works in all platforms, where to get it?

Thanx
Charting Markets into the Future...MǎҖ€¥.
  • #43
  • Nov 5, 2006 3:42am Nov 5, 2006 3:42am
Quoting jon167
Yes, I do. But I can not imagine how can someone put an order before than I do it (70 ms.)
You also use a currenex platform, don't you? Liquidity you see is for your broker or for all users?
If you think for a second just because you can automate your clicks that you're going to be faster than everyone then you still havnet figured out what is actually hapenning when you see the quotes to when you place your order to when you get filled. There are a number of things that are slowing you down of which I'll mention two. How to solve them is up to you as noone will tell you, I mean come on ... who's going to let you take their liquidity away from them.
Firstly, if you're using the cnx java gui when you click on a button to place an order the gui does a number of things before actually sending the order to the servers. There are many things that you can do to speed up the cnx platform or alternatively ... write your own
Secondly, if you live in say asia, and you do exactly the same thing as someone else in US, my money is on the other guy getting filled before you every time. The main bb and reuters servers are in the states and as such ppl there will receive anything from them faster. Moreover, currenex servers are there as well. Also, if you think that your news service is getting you the data the same time as ppl who actually have bb and reuters then you're also wrong there. Most likley your new service is being cheap and opting for the internet option for both these services and not the even more expensive option of a direct radianze connection to them. In all ... the extra milliseconds add up and no doubt there are ppl who have the resources, low latency and technology to send and order way before yourself.

And to answer your last question, liquidity each person sees on currenex is dependant on your prime broker but the list of trades you see is for currenex as a whole
  • #44
  • Nov 5, 2006 5:29am Nov 5, 2006 5:29am
Quoting kerberos
don't waste time and money using TTN, the best services out there are reuters and bloomberg ofcourse they are too expensive but they are other alternatives to beat the spike if that is that you want, but be very aware of that beating the spike is just half the battle, you need a good broker too that won't play dirty tricks during those high volatility times, those tricks include freezing the platform, some will widen the spread way too much, others will get you filled way to far from the price you wanted to. $40 for getting the news 5 secs later is not worth it, in that case just wait for tomorrow's newspaper to read about the news ...
Yo have NO chance trying to trade the news (buy or sell as soon as the news is released)...the dealers will ALWAYS be in front of you.

Its like poker, if you look around the room and can't see the patsy, then YOU are the patsy. The faster / shorter time frames that you try to play in this business the more you are at a disadvantage. Retail traders trading the news are like fish swimming with hungry sharks in blood-filled water.
  • #45
  • Nov 5, 2006 6:04am Nov 5, 2006 6:04am
I am here reading alot of posts where people are telling others what they can't do and what doesn't work. This is fairly normal in a forum but there is a huge problem with this particular conversation. There are alot of people who have never done something telling people who are currently doing it that it can't be done.

I really wish people would take the time to truly ask themselves: "DO I really know what I am about to state or do I just believe it to be true based on what I think should happen?" If people asked this before they posted, there statements would probably read a little differently......................

Here are the facts from someone who has actually traded this strategy. You can beat the spike. It is possible to have the data before the spike. Many times you have the data several seconds before the spike. If you have your strategies planned out and clear in your head, there is more than enough time to hear single number data release, make a decision, place a trade and get filled with a broker who allows data time trading before the market reacts.

Big Boyz with bloomberg and reuters do it every announcment. That is why there is a spike. And yes, you can play too if you pony up for the news service. And as long as your broker does not lock you out, you can get filled pretty easily before the spike. I have never used there services that provide the automated buy or sell signals but they have videos with audio on there website that you can watch and see for yourself. Yes anything on the internet can be fudged but I don't think that it is. I think that it is exactly what the guy says it is and I also think that the trades probably go just like his videos depict. (notice how when I stated something that I had no experience with I said I think ?) LOL

This type of trading gets more complex and lower % when you have multiple announcements, announcements that have alot of elements, announcements that may need to be interpreted(speeches) or our new found freind MR. Revisions.

As said by Bill Murrey: "That's the fact Jack!"
Profit is where readiness meets Opportunity
  • #46
  • Nov 5, 2006 6:13am Nov 5, 2006 6:13am
So what you are saying is, if you have a bloomberg/reuters news service you will beat the spike?
Forex rules
  • #47
  • Nov 5, 2006 6:34am Nov 5, 2006 6:34am
Quoting jacko
Yo have NO chance trying to trade the news (buy or sell as soon as the news is released)...the dealers will ALWAYS be in front of you.

Its like poker, if you look around the room and can't see the patsy, then YOU are the patsy. The faster / shorter time frames that you try to play in this business the more you are at a disadvantage. Retail traders trading the news are like fish swimming with hungry sharks in blood-filled water.
This was in support of kerberos who stated
Quote
Originally posted by kerberos
...be very aware of that beating the spike is just half the battle, you need a good broker too that won't play dirty tricks during those high volatility times, those tricks include freezing the platform, some will widen the spread way too much, others will get you filled way to far from the price you wanted to...

Whichever broker you trade with, you are trading through their platform. Consequently, their brokers will therefore have an advantage over you.
To think otherwise is naive.
They are taking the other side of the trade (which they must in "trading the news" because they don't have time to spread their risk), and they will fight tooth and nail not to give away a business advantage to any trader. That's why they are doing all the things (plus much more) outlined in kerberos post
  • #48
  • Nov 5, 2006 6:58am Nov 5, 2006 6:58am
Curious: Why do you even need to beat the spike?

The first 5-second-reaction is not the whole move on NFP news.
  • #49
  • Nov 5, 2006 11:44am Nov 5, 2006 11:44am
Quoting BurgerKing
Curious: Why do you even need to beat the spike?

The first 5-second-reaction is not the whole move on NFP news.
Pretty simple motive BK, better fill and more pips of the move in your bank.
Profit is where readiness meets Opportunity
  • #50
  • Nov 5, 2006 12:28pm Nov 5, 2006 12:28pm
Quoting MaXeY
Cool,
so how this s.w works? , and it's free?, works in all platforms, where to get it?

Thanx
He transform automatically his data in a buy/sell signal when data is released out of consensus. For example: NFP is expected as 45k. If data deviation is 40k (or the number you want) or more (>85k or <5k) you receive a buy/sell signal. Previously you program the autoclick function: you program where to click when it's a buy signal and when if it's a sell one (you can program a double click if you need in your platform), obviously on your buy/sell function in your platform. You also receive desviations, revisions, another data, recomendations of close your trade immediately (if revisions or another data are against the main data), etc. by audio and on your screen.
Its cost is 300 $ a month.
Sorry but I'm not allowed to put links, names, etc. on this forum.
  • #51
  • Nov 5, 2006 12:43pm Nov 5, 2006 12:43pm
Quoting sccz97
If you live in say asia, and you do exactly the same thing as someone else in US, my money is on the other guy getting filled before you every time.
I see. So europeans will ever be filled after americans. That's logical, but 3-4 seconds to be filled... Is it normal in Currenex on news?

Quoting sccz97
There are many things that you can do to speed up the cnx platform or alternatively ... write your own
I have to investigate it. At the moment I'm learning on the demo but I see it's impossible to me to be filled before the spike right now.

Thanks for your explanations.
  • #52
  • Nov 6, 2006 3:58am Nov 6, 2006 3:58am
Quoting BurgerKing
Curious: Why do you even need to beat the spike?

The first 5-second-reaction is not the whole move on NFP news.
Hi BurgerKing

I agree. If a trader had beaten the spike on Friday, he would have been "long" before the rapid, but short, ride up.
Then he would have been destroyed on the equally rapid whipsaw down.

As a long term trader, I am happy to have a position in place when NFP occurs. If it goes in my direction, then its a bonus. If it goes against me I have my stops in place to limit my losses

However, I would never trade the NFP just for the immediate "punt" on the outcome of the NFP. It is just waaaay too hard and the brokers are holding all the aces. Thats gambling.
  • #53
  • Nov 6, 2006 5:23am Nov 6, 2006 5:23am
Bloomberg radio proved to me again what a useful free news service it can be.
Yes, they are 20-30 secs late with the actual numbers, but then fill the next 30 secs with succinct and hit the nail on the head analysis.

In this case GBP shot up to 9115 on release of 92k, then stayed there for what seemed an eternity as traders where wondering how this synced with 4.4% and by the time they had interpreted the news as $+ so had Bloomberg and there was ample time to short GBP (providing your broker fills orders during those vital moments)

Just my 2 pence
Consistency and patience is everything
  • #54
  • Nov 13, 2006 11:44pm Nov 13, 2006 11:44pm
Hi All,
I was wondering if there is subj similar to Trading the News (i.e. with text and the voice), except it is free and doesn't have to be quick i.e. I can live with a delay of a minute or so.
  • #55
  • Nov 14, 2006 12:17am Nov 14, 2006 12:17am
Try NewsStrike

www.newsstrike.com
  • #56
  • Nov 21, 2006 9:41am Nov 21, 2006 9:41am
Hey there

I want to know if any body use a better news service than me. I have a good news service from my broker, but I somethimes come in late and misses som pips...

I have an average profit for 800 pips pr month, and i want to increase it by using a better news service. Offcource for free ;-)

Thanx
  • #57
  • Edited 11:33pm Nov 26, 2006 7:31pm | Edited 11:33pm
Hi everyone, I posted this thread in the beginners forum but re-posted it here as this might be the most appropriate place for my question.

I wanted get some recommendations for sites that offer great reliable news with regards to the forex market (other than this great site of course )?

thanks.
<!-- / message --><!-- sig -->
  • #58
  • Nov 26, 2006 9:44pm Nov 26, 2006 9:44pm
try this I think its the best
http://bloomberg.com/news/index.html
  • #59
  • Nov 27, 2006 2:04am Nov 27, 2006 2:04am
I use tradethenews.com

The Credit/Forex is for $39.99 USD/Month and they give 7 days trial.
Check it out.

Rick
I'm a disciplined trader and that's the only way I trade.
  • #60
  • Nov 27, 2006 10:55am Nov 27, 2006 10:55am
Try This Free Audio News Service:
http://www.newsstrike.com

For Text News:
http://news.efxnow.com/en/commentary/index.html
Charting Markets into the Future...MǎҖ€¥.
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