Charting Markets into the Future...MǎҖ€¥.
- #342
- Jan 15, 2007 9:37pm Jan 15, 2007 9:37pm
Maxey,
I can understand why you are doing this. There are many different strategies available on this site. Some are so good could that people SHOULD charge.
The best ones are usually free though. I am not saying that you are holding out or anything. Don't get me wrong.
As a matter of fact, anyone who gives something of value away, even for a little while, should be thanked. Not all of us can design & make a strategy that works, be it a simple one like this or some crazy one that has so many indicators that you cant even see the chart!!!
Bottom line is.....
Thanks for all you have done.
I can understand why you are doing this. There are many different strategies available on this site. Some are so good could that people SHOULD charge.
The best ones are usually free though. I am not saying that you are holding out or anything. Don't get me wrong.
As a matter of fact, anyone who gives something of value away, even for a little while, should be thanked. Not all of us can design & make a strategy that works, be it a simple one like this or some crazy one that has so many indicators that you cant even see the chart!!!
Bottom line is.....
Thanks for all you have done.
“Control, control, you must learn control!” - Yoda
:
May be we should start an afterspike trading thread with historical moves based on a global view of the news releases (I mean not only the main release but also revisions, conflictual data's, general trend at the moment of the news, the key levels at the moment of the news,...).
Ok, I gave the idea, who does the research work...?
Ok, I gave the idea, who does the research work...?
- #355
- Jan 23, 2007 4:08am Jan 23, 2007 4:08am
Hi Sccz97
Stupid question here
. Are you saying that the institutional feed will show the true direction of price before the retail brokers?
Stupid question here
. Are you saying that the institutional feed will show the true direction of price before the retail brokers?I'll give all of youj news trader wannabes a helpfl nudge in the right direction. Find a way to get proper tick charts from an institutional feed whether that be cnx, ib or otherwise. And see what happens in the first 60 seconds. It'l be vsitly different from what your retail brokers provides in terms of price action and you'll see a very easy and consistent way to make money .... and liquidity is very much not an issue 10 seconds after the data has been released.
If it's too good to be true, it probably is.
Hi Sccz97
Stupid question here
all of you trying to trade news on retail platforms are just wasting your time ... you can make a bit of money especially of you're trading small size but honestly .. .whats the point. To think that there are ppl who believe you can beat the spike consistnelty on an instiutional platform makes me wonder how much thought ppl actualy put into what they're doing or attempting to do. THe banks get their information faster, they update they prices faster and they can on the whole do everything better than you could ever dream of. Are there ways to beat the banks? Sure .... but you'll need the same skillset and them. Wrt to the original question ... yes, due to the nature of most retail platforms your retail feed will be significantly slower than that of say cnx. You could very easily just have a cnx chart up and wathc for the price action and try to whack your retail platform accordingly. I love all this bullshit you see from these autoclick sites ..... how many ppl are actually able to get in before the spike on non-retail platforms. I'm guessing .... virtually none. Hats off to them though, they're making plenty of money off the mugs paying tham $1k a month for smthing that doesnt have a long term future
- #357
- Jan 23, 2007 5:25am Jan 23, 2007 5:25am
all of you trying to trade news on retail platforms are just wasting your time ...
I use retail platform and still I can make consistent profit every month.. then what?
I appreciate your statement. After all.. you are right, except the 'wasting time' thing.
Trade the Possibilities 
Owne T
That's what I'm in the process of doing. I'm going back three years on 7 key US news annoucements each month. Thats about 252 events, I'm working with daily, 4hr, 1hr, 15min, and 5min charts. I'm also looking at key economic data. Thats probably the toughest part, because its hard to gauge market sentiment from past data. I'm looking at yeild curve differentials, commodity prices changes and any other news I can dig up. I'm focusing on evaluating the OVERALL TREND, major S/R, Trend Lines, Pivot Points, Fib levels and Fib extensions and because I'm using only the GBP/USD pair I'm also looking at the figure. I'm really not looking much at lagging indicators (MACD, RSI, Stoch.) because I don't think they have much bearing during news annoucements. I'm focusing on price action form 1 hr befor the news - 3 hrs after. I'm also interested in what happens with price at London close, as well as, taking into account the day of the week. Especially Fridays.
So far I've gone thru 3 months.
I've been reseaching Forex for quite a while now. It seems to me that if you want to trade intraday, which I do, because I have the time and I like it, YOU HAVE TO BE AWARE OF BOTH FUNDAMENTAL AND TECHNICAL DATA AFFECTING PRICE ACTION. If you're a swing or position trader holding trades 1 week or more with a stop of at least 100pips on the GBP/USD then you don't have to be as focused on news because obviously your decisions are based on a bigger view of fundamental and technical data.
I've taken quite a few courses starting at the most basic all the way up to flying across country for seminars held by active fund managers. Most of them tell you not to trade news events. If thats the case. What the hell is an intraday trader going to do all day. Whenever I ask that question I don't get a good answer. This has realy bothered me. Makes me wonder whether these people are making more money on their seminars or managing their funds. I know that for the first year of taking classes and online courses none of these people were making money trading or they would'nt be doing what they were doing and spending so much money on marketing their services.
!!!!!!!!!!!!WOW HOLD EVERYTHING THE GBP JUST BROKE THRU 1.9900....WOW!!!!! Every time I think the pound has run its course for the day even if its past its avg daily range and hitting major support its surprises me with one more big leg. I'm just chompin at the bit to go short here but its so damn early in the session and I've been burned to many times playing GBP retracements before London close. I think I'll hold for now and see if it retraces later in the session. We'll see what happens.!!!!!!!!!!!
I guess you can tell by now that I really don't believe that you can consistently beat the Forex market by trading news spikes. I know that these autoclick guys would like you to belive that, but my personal experience using these guys in live accounts is that it's potluck and eventually the majority of them will not be arround.
You need to do the research and figure this stuff out on your own. Would you rather have someone catch fish for you or teach you how to fish so that you can support yourself for the rest of your life. I know that sounds corny as shit, but thats what we're all dealing with. For the newbies out there, think hard about this. You have a lot of time to make a career in Forex and you WILL end up buying yourself the education one way or another. It takes 1000's of hours to learn this stuff.
Look at it this way. My degree is in engineering from Virginia Tech. I spent 4 years working as a structural engineer for a large architectural firm. After 4 years I was bored to death. I knew as much about structural engineer as I cared to. Then I spent 4 years managing a large IT department. Then I started my own computer networking business and sold it after 4years. Next I started a restaurant and then a graphic design and print broker business. In each different industry it took me about 4 yrs to become fluent. Forex is no different. I plan on spending 4 years. 2 down 2 to go. This is my early retirement plan.
I know what you're probably thinking! Alright already. My God will that guy won't shutup. I don't need to hear anymore of this babble. blah.... blah.... blah
OK I'M DONE!!!
I do think we should start a new thread.
"""Trading after the News!!"""
Damn if the GBP isn't about to retest that 1.9916 level and its only 8:56 EST.
I'm dying to go short.
That's what I'm in the process of doing. I'm going back three years on 7 key US news annoucements each month. Thats about 252 events, I'm working with daily, 4hr, 1hr, 15min, and 5min charts. I'm also looking at key economic data. Thats probably the toughest part, because its hard to gauge market sentiment from past data. I'm looking at yeild curve differentials, commodity prices changes and any other news I can dig up. I'm focusing on evaluating the OVERALL TREND, major S/R, Trend Lines, Pivot Points, Fib levels and Fib extensions and because I'm using only the GBP/USD pair I'm also looking at the figure. I'm really not looking much at lagging indicators (MACD, RSI, Stoch.) because I don't think they have much bearing during news annoucements. I'm focusing on price action form 1 hr befor the news - 3 hrs after. I'm also interested in what happens with price at London close, as well as, taking into account the day of the week. Especially Fridays.
So far I've gone thru 3 months.
I've been reseaching Forex for quite a while now. It seems to me that if you want to trade intraday, which I do, because I have the time and I like it, YOU HAVE TO BE AWARE OF BOTH FUNDAMENTAL AND TECHNICAL DATA AFFECTING PRICE ACTION. If you're a swing or position trader holding trades 1 week or more with a stop of at least 100pips on the GBP/USD then you don't have to be as focused on news because obviously your decisions are based on a bigger view of fundamental and technical data.
I've taken quite a few courses starting at the most basic all the way up to flying across country for seminars held by active fund managers. Most of them tell you not to trade news events. If thats the case. What the hell is an intraday trader going to do all day. Whenever I ask that question I don't get a good answer. This has realy bothered me. Makes me wonder whether these people are making more money on their seminars or managing their funds. I know that for the first year of taking classes and online courses none of these people were making money trading or they would'nt be doing what they were doing and spending so much money on marketing their services.
!!!!!!!!!!!!WOW HOLD EVERYTHING THE GBP JUST BROKE THRU 1.9900....WOW!!!!! Every time I think the pound has run its course for the day even if its past its avg daily range and hitting major support its surprises me with one more big leg. I'm just chompin at the bit to go short here but its so damn early in the session and I've been burned to many times playing GBP retracements before London close. I think I'll hold for now and see if it retraces later in the session. We'll see what happens.!!!!!!!!!!!
I guess you can tell by now that I really don't believe that you can consistently beat the Forex market by trading news spikes. I know that these autoclick guys would like you to belive that, but my personal experience using these guys in live accounts is that it's potluck and eventually the majority of them will not be arround.
You need to do the research and figure this stuff out on your own. Would you rather have someone catch fish for you or teach you how to fish so that you can support yourself for the rest of your life. I know that sounds corny as shit, but thats what we're all dealing with. For the newbies out there, think hard about this. You have a lot of time to make a career in Forex and you WILL end up buying yourself the education one way or another. It takes 1000's of hours to learn this stuff.
Look at it this way. My degree is in engineering from Virginia Tech. I spent 4 years working as a structural engineer for a large architectural firm. After 4 years I was bored to death. I knew as much about structural engineer as I cared to. Then I spent 4 years managing a large IT department. Then I started my own computer networking business and sold it after 4years. Next I started a restaurant and then a graphic design and print broker business. In each different industry it took me about 4 yrs to become fluent. Forex is no different. I plan on spending 4 years. 2 down 2 to go. This is my early retirement plan.
I know what you're probably thinking! Alright already. My God will that guy won't shutup. I don't need to hear anymore of this babble. blah.... blah.... blah
OK I'M DONE!!!
I do think we should start a new thread.
"""Trading after the News!!"""
Damn if the GBP isn't about to retest that 1.9916 level and its only 8:56 EST.
I'm dying to go short.
May be we should start an afterspike trading thread with historical moves based on a global view of the news releases (I mean not only the main release but also revisions, conflictual data's, general trend at the moment of the news, the key levels at the moment of the news,...).
Ok, I gave the idea, who does the research work...?
After I closed my CAD long, I immediately shorted at 1821 and got out at 13 for a total of 28 pips b/t both trades.
Oh, and I trade technicals at about 80% success b/f anyone thinks I am just a news trader.
Oh, and I trade technicals at about 80% success b/f anyone thinks I am just a news trader.
May be we should start an afterspike trading thread with historical moves based on a global view of the news releases (I mean not only the main release but also revisions, conflictual data's, general trend at the moment of the news, the key levels at the moment of the news,...).
Ok, I gave the idea, who does the research work...?