NZD retail sales

It was revised down wasn't it? That could stop it.

well, no delayed reaction either

maybe the NZD longs are sleeping.

Not a big deviation! In and out with quick 5 pips!

I really don't know how much of this excitment I can take.....

Should I hold my short position??

I am glad that the direction was correct. Since it was only 0.3 so I didnt stay in for long. Was out before the minute ended. Hope u guys did ok too.

As usual, you were correct merlin


Seems though 45 pips left something to be desired. Not quite 80 pips but it's healthy enough.

...I am looking for an effective way to trade the news, it appears you've answered my question with how you've traded the news. It's hard to straddle on an timely basis and get the spike on time, but there's is additional pips to be made from the after effects of the news, am I right in assuming this?

Many people here it seems trade the inital moves with great success. I am a very conservative trader, so I trade the post news reaction(post first 5 min) purely with technical analysis. So from my point of view yes there are pips to be made after the effects of the news, and often a great deal. So if you are much more conservative like me, you can still make a great deal from these news annoucments.

Best,
Mike

edit: I dont want to make the assumption that a conservative trader cant trade the inital move either. I just dont have the nuts too lol

Just a nice slow move.

It was a very good NZD number. So I am in long and hoping for the best.

We Will see.

Wasn't it the tortoise that won anyway.

DC

Glad u made some money today-but as a long term strategy-it's a death sentence.

First of all, listening to "tips" is the same as tips on a horse race. They mean nothing. Those BB predictions are mostly worthless. Ever hear the expression "those who can't do teach? Well economists are guys who can't make a living trading. In reality, it's just gambling and who makes more money-the gambler or the casino?

You might feel comfortable because you took a stop-loss. Know what? If you repeatedly enter positions just before the news, your broker will start to notice. Comes the time you bet wrong-they'll blow right thru your stop and burn you all the way until price stops moving. Even worse, once they notice you do this-they can do the same thing if you get profitable. Once they see you've made a couple of bucks-they won't close your position when you try to close. If they see the market moving against your position, they'll just hold it.

You can't win doing this, you can only lose. If it was that easy, we'd all have gotten rich by doing this. We're haven't. Search this entire forum and u won't find one trader who is making money long term doing this.

Want a better way to trade? Take the NFP. There was plenty of time to listen to BB radio, get the NFP and revisions and trade accordingly. I've posted this numerous times. Actually, numbers that come out with revisions can be the best ones to trade IF you wait for all the numbers and understand them. Why? Becasue they market reacts to one number at a time. Look at the charts.

The NFP was strong and the $ strengthened. Then Oct was revised down and the $ weakened to the resistance level. Then Sept was revised up and the Euro tanked over 100 pips, because the final numbers showed greater then expected job growth over the period covering the revisions and present number. Maybe you would have gotten into this trade a few minutes after the report. No prob there was an easy 50 60 pips still left on the table.

Or how about this? Forget the number. Everyone and their mother knew that 3350 was a very strong resistance level. I wouldn't be surprised if there were tons of Euro short orders sitting right there way before the report even came out. If you're a betting man, that was the thing to bet on.

Merlin-care to weigh in?