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News signal service

  • #1
  • First Post: Jul 25, 2012 4:50pm Jul 25, 2012 4:50pm
hi,

does anyone know abt any news related signal service? like when china cut interest rates last month, EUR GBP AUD & NZD all went bid...

any signal service that can predict this sort of thing?
the other ones are pretty obvious... bad no. sell , good no. buy...

regards
pret
  • #2
  • Jul 25, 2012 10:19pm Jul 25, 2012 10:19pm
Quoting Prettrad
hi,

does anyone know abt any news related signal service? like when china cut interest rates last month, EUR GBP AUD & NZD all went bid...

any signal service that can predict this sort of thing?
the other ones are pretty obvious... bad no. sell , good no. buy...

regards
pret
I'm curious.

Would you actually TRADE based on such predictions?
I'm not trying to convince anyone. I'm not in the "convincing" business.
  • #3
  • Jul 25, 2012 11:07pm Jul 25, 2012 11:07pm
What you're looking for is found on the charts. That's where trading decisions are made.

If the news is 'good' and the market tanks... you sell it. There is no way to decipher what any news means to the rest of the world as there are too many variables.

It pays to know when data is going to be released, but that is found right here on the FF calendar.

If you are looking for some inside track, or to get the news first.... aint gonna happen. If it were, you certainly wouldn't be asking questions here.

Forget the news, Trade the chart.
  • #4
  • Jul 25, 2012 11:29pm Jul 25, 2012 11:29pm
Quoting Price
Forget the news, Trade the chart.
Ditto that.

Prettrad, a book for you to read: "The Secrets of Economic Indicators: Hidden Clues to Future Economic Trends and Investment Opportunities".

It's good for telling you which data "matters" and how the data is collected and published, and how markets react to them.

It's also good for telling you that, all said and done, economic data is mostly BS and past information that does not reliably predict a market that cannot be predicted.

Better to focus on the market's actual REACTIONS to the data rather than what the market SHOULD do in reaction to the data, or what you think (or predict) the market will do.
I'm not trying to convince anyone. I'm not in the "convincing" business.
  • #5
  • Jul 26, 2012 12:50am Jul 26, 2012 12:50am
Quoting Price
What you're looking for is found on the charts. That's where trading decisions are made.
While I agree with what you're saying. I have to remind you and everyone else who thinks that the charts are some mystical entity of their own, that fundamental traders are the majority players in this game. They don't need or use no stinkin' charts!

The chart is only representative of what buyers and sellers have already done. As they say... To left is history, to the right is mystery.

Why take a side when you can combine the two and be an insanely profitable trader

  • #6
  • Jul 26, 2012 9:26am Jul 26, 2012 9:26am
Quoting InfiniteLoop
While I agree with what you're saying. I have to remind you and everyone else who thinks that the charts are some mystical entity of their own, that fundamental traders are the majority players in this game. They don't need or use no stinkin' charts!
Good statistic! Would be very interested to find out your source for that one!

Just as interesting as the oft-quoted statistic that 95% of FX traders are unsuccessful!

Quoting InfiniteLoop
The chart is only representative of what buyers and sellers have already done. As they say... To left is history, to the right is mystery.

Why take a side when you can combine the two and be an insanely profitable trader

I do agree with this part, however. Some traders just have a talent for that sort of thing. I still hold that economic data is mostly BS, but I respect the trader who can make consistent money trading off of them.

I'm of the minority who don't care for either technical analysis OR fundamentals, although I don't have the statistics to prove I'm in the minority.

(I don't consider "price action" trading as technical analysis...)
I'm not trying to convince anyone. I'm not in the "convincing" business.
  • #7
  • Jul 26, 2012 11:34am Jul 26, 2012 11:34am
Quoting Prettrad
hi,

does anyone know abt any news related signal service? like when china cut interest rates last month, EUR GBP AUD & NZD all went bid...

any signal service that can predict this sort of thing?
the other ones are pretty obvious... bad no. sell , good no. buy...

regards
pret
Action Economics may be what you are looking for. Google for their website. Hope that helps.
  • #8
  • Jul 26, 2012 3:27pm Jul 26, 2012 3:27pm
thx aiyahmarklah ... will check it out...

btw, i can surely tell you all that traders rarely look at charts... they mainly trade on fundamentals & price action and then occasionally looked out technical levels on charts... otherwise i rarely hear of them looking at charts etc.

anyway... re: news events, what you see on charts is a reaction to what has happened following the news... but there are news signals that decide if the no. is better than expected then the ccy is bid, if its worse than expected then sell... likewise if there was a comment on QE3, where USD goes etc... i'm talking abt next seconds or milliseconds after the news is out not minutes or hrs.
  • #9
  • Jul 26, 2012 6:01pm Jul 26, 2012 6:01pm
Quoting Prettrad
thx aiyahmarklah ... will check it out...

btw, i can surely tell you all that traders rarely look at charts... they mainly trade on fundamentals & price action and then occasionally looked out technical levels on charts... otherwise i rarely hear of them looking at charts etc.

anyway... re: news events, what you see on charts is a reaction to what has happened following the news... but there are news signals that decide if the no. is better than expected then the ccy is bid, if its worse than expected then sell... likewise if there was a comment...
hi ,

this is one of those topics that can go round and round,there is not a correct solution,
when you say most traders dont look at charts just concentrate on fundies and the price,would i assume your talking about pro traders ect ?.if so ,then that may well be the case especially on frontline spot,but they have so much information in front of them !afterall the chart is just a visule represensation of the past information they have seen and already acted upon.

the market in itself has an uncanny way of showing the past whilst compensating and blending the futer.a little like seasoned farmers prepare for weather change well in advance of forcasters.there are idiosyncrasies within the overall structure that account for many futer events within the price.the problem for us as retail traders is we dont have any of the above.

we can never be sure any one news item has or has not already been factored in .im sure overall sentiment can play a important role,its sunny right now with no visible clouds,so im more confident wearing shorts and t shirts than wellies and rainmack, i do watch livewire feeds,and some information supports the present price action,but equally many dont.

we also need to take into account the endless rubbish spouted from finance ministers,much of which is scripted to advert real events.

having said all this,on occasion were given gifts from unexpected news .like today.regardless of past history the now price gave us a gift.
  • #10
  • Jul 26, 2012 6:45pm Jul 26, 2012 6:45pm
Quoting skenobi
Good statistic! Would be very interested to find out your source for that one!
Well I'll tell you from first hand experience in the industry. Using the bank I work for I am quite sure the sample would be normally distributed, thus representative of the bigger picture. So...

Approx 85% of our department uses fundamentals, and the other 15% is technicals/PA/whatever you want to justify to yourself that it is.

As far as I know most other major institutions around here are about the same.

  • #11
  • Jul 26, 2012 6:58pm Jul 26, 2012 6:58pm
Quoting InfiniteLoop
Well I'll tell you from first hand experience in the industry. Using the bank I work for I am quite sure the sample would be normally distributed, thus representative of the bigger picture. So...

Approx 85% of our department uses fundamentals, and the other 15% is technicals/PA/whatever you want to justify to yourself that it is.

As far as I know most other major institutions around here are about the same.

You may be right, where you come from anyway. At the end of the day, it could even be a cultural thing. Over here (at least in the teams I worked in), economic data is never trusted. Only management-types (and junior traders/interns) bother with fundies to be able to explain "stuff" to their Bosses.

The rest of us "grunts" (middle-managers and regular traders) tend to be PA/TA guys sometimes with inside/customer flow information...
I'm not trying to convince anyone. I'm not in the "convincing" business.
  • #12
  • Jul 26, 2012 7:07pm Jul 26, 2012 7:07pm
Quoting Prettrad
thx aiyahmarklah ... will check it out...

btw, i can surely tell you all that traders rarely look at charts... they mainly trade on fundamentals & price action and then occasionally looked out technical levels on charts... otherwise i rarely hear of them looking at charts etc.

anyway... re: news events, what you see on charts is a reaction to what has happened following the news... but there are news signals that decide if the no. is better than expected then the ccy is bid, if its worse than expected then sell... likewise if there was...
So you're looking for signals that are issued BEFORE an economic release? In that case, I hope you find them and I wish you luck.

If you're looking for signals AFTER releases, I think the price action 15-30 minutes (rather than seconds) AFTER the release will give you a more accurate picture of where price will go next, unless you're scalping in which case I will reserve my comment.

Good luck nevertheless.
I'm not trying to convince anyone. I'm not in the "convincing" business.
  • #13
  • Jul 26, 2012 8:26pm Jul 26, 2012 8:26pm
Quoting skenobi
You may be right, where you come from anyway. At the end of the day, it could even be a cultural thing. Over here (at least in the teams I worked in), economic data is never trusted. Only management-types (and junior traders/interns) bother with fundies to be able to explain "stuff" to their Bosses.

The rest of us "grunts" (middle-managers and regular traders) tend to be PA/TA guys sometimes with inside/customer flow information...
LMAO. That's gold.... Clearly you are talking about a chop shop.

Nice one.

Not going to even exert energy on that one, except literally laugh my arse off out loud.

  • #14
  • Last Post: Jul 26, 2012 8:38pm Jul 26, 2012 8:38pm
Quoting InfiniteLoop
LMAO. That's gold.... Clearly you are talking about a chop shop.

What can I say? It works for us, mate!
I'm not trying to convince anyone. I'm not in the "convincing" business.
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