Trading the news

I know that there are many sites out there where one can get information on fundamentals but I am sure that there are some which are more timely or informative than others.
For example I would like to know where to get instant news release numbers without delays and where to find the correct information on forecasted numbers for the upcoming news?
Does anyone have any great sites they could recommend for this thanks

To get started, you know there is a forex calendar link on the left side of the list of forum topics.... right here on the FFF.

Lou

i recently subscribe to tradethenews.com and so far its awsome....i get the neews live by audio and by text too ...its very quick .. up to the last second....

yes it's great and I use it for my game plan for the upcoming week. But as for the newly released data, the calendar doesn't get updated right away.

I use FXCM's news. Sometimes it's up to the minute/second of the news release. Sometime it's slower if it's not US news. It works well enough for me because I don't like to be the first to enter a trade until I see confirmation from other traders.

tradethenews is very good, unfortunately it is out of most peoples reach at 2k per month. but if you daytrade a good amount, its worth the price.

No one brought up Bloomberg or CNBC on tv ?? Ive seen a few times that the news came out during a commerical break and wasnt announced untill commercials were over........but that doesnt happen for major reports (the red colored ones on FF calander for the newbies)


So you guys are saying that these news services like tradethenews are faster than the TV stations ?

tradethenews is WAY faster than CNBC. and they have better news coverage, only the stuff that matters. and they keep you updated of when sessions are begining/ending etc. basically CNBC is geared toward your everyday investor, whereas tradethenews is geared toward day traders. btw, dont get too excited, 80% of their stuff is only applicable to stock trading, not forex.

Try this for free. Open a demo with www.reatimeforex.com. You get the news dead on the second through reuters or dowwires and others. Their only problem is the spreads. Otherwise even their ask /bid is more correct than others. That is why the call themselves realtime ! ! If you put their platform next to yours, and compare the prices, you will see how your broker is slowing down the prices to your disadvantage.
You can always start another demo each time it expires. Profit from the news until you go live with your trading.
By the way they are posting in FF under RF-Trader

Highway

Let's say there's a release at 8:30. If I need to know the exact seccond, how do I set my watch? Is there a universal consensus for US news to be released by a certain clock? When a number is supposed to come out at 8:30, does that mean 8:30 at the seccond? If so, what clock does the government releases by?

Jessieblue:

Good question I have seen in the past 10-12 minute delay on a major number using Rueters and Bloomberg was later.

Tradethe news is as fast as it gets., very expensive.

It begs the question do you really need it that fast I say 10-12 min. it not beneficial but if you are watching price action and are aware of the release, its concensus and timing you should see it in the immediate price action.

Afterall you don't want to try and predict the future and get yourself out in front of a runaway train that drives right over you against your prediction.

I think is best to wait to see what the market does in response to the news and wait for price to show its hand.

Recently I traded a relases number for the CDN and it was way above the concensus, I thought wow Iam in and we are off to the races, only to see oil take a dip and this negated my CDN long move?

Trading fundamental news can be a double edged sword especially if you rush in.

AT

Atlantic I agree with you. Sometimes there are weird spikes on new release too. I find that the best time to trade the news is 15 minutes after when things are more settled.

To add to the conversation and hoping it acts as somewhat of a balance regarding news feeds and what I have come to believe regarding news:

It should be pointed out and is recommended as caution when assimulating information from news feeds. One would be naive to think that news can not be 'manufactored' to manipulate the actions of the masses. Frequently thats why the 'news' is released in the first place The "professionals" are often aware of the news hours.. days... even weeks beore ot is released to the public. Making money is a serious matter in any b usiness and in this business having accurate and timely knowledge before the public is crucial.

i.e. BOE trades currencies on its own accounts, you have to assume they are trading for profit, if so, how can any statements from the be unbiased at all time?

I don't get it? What do You mean 10-12 min delay? I always see the 8:30 news come out at 8:30 sharp, just that sometimes it's 8:29:59 or 8:30:01, but that's about all the difference I see. What I ment was, how do I set my watch to the seccond, what watch do the people releasing the news use?

Last week like I said when using these open source services the delay was at least 10-12 minutes befiore it waas reported?

Iam not sure if they all have a set standard for their release times Iam sure that watches are not sync to the second.

If you want such timing I think you have to call NASA?

Seriously I would considere not getting hung up on timings but rather the effect the news has on the price and going with the price action even if as "Yardie " says wait 15 min. to decide what to do.

I read somewhere I think it was in the phantom of the Pits where he/she says to wait one bar after you see the set up or in this case the news to decide what to do.

It won't hurt to wait that extra time the loss would be minimal, the idea of this business is longevity.

My two cents.

AT

On www.tradethenews.com i was quoted quite a bit less than 2000/mo.

for the audio squawks + fx bullets, it was much closer to $2100/year. I thought that was pretty reasonable, if you don't care about audio though you can bring the price down quite a bit further.
I doubled checked the web site before I posted this, the best way to make sure is do your own research though. good luck.
I hope it's not an introductary price to get me hooked though, I REALLY like their service.

Hi Folks !

Can anyone of you tell me in seconds or minutes how big the
competitive edge is if I'm subscribed to this news service ?

At the moment I'm trading the news with a straddle.

About 1 minute before the news comes out I go long and short with
a limit above or below 10 pips of the actual price.

Greetings from Essen in germany

Bernhard

Bernhard:

I really couldn't say Iam not into the minutes ands seconds, but Iam sure someone has figured it out considering the cost of those minutes and seconds?

Great to hear from Germany.

Great trades

My personal opinion is news speculation is for losers. The only time I have had a losing trade is when the whipsaw action happens, then the market takes off in the opposite direction to my speculation.
I trade now during the Asian Session where the movement is at a more relaxed pace, and my account builds profit, slow and steady. Then I wait out the news release madness, then the spikes caused by Bernanke or Trichet's (or whoever) loose lips, then resume trading when things have calmed down.
Since I've taken up this strat and avoided trying to grab 50pip rallies, my losses are far lower than my profits.

i hate when someone's speaking also ... it causes a lot of quick choppy condition that makes no sense to me. It's best to wait or not jump in at all on those days.

I agree with you on the calm asian market. I make a few pip myself every night when I see the price oscillating in a small range.

does this straddle really work for you? i would think the whipsaw effect would create alot of "double losers".