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How do you trade news?

  • #201
  • Jul 20, 2006 8:53am Jul 20, 2006 8:53am
Quoting MoneyMa$ter
Not sure if I mentioned it, but the press receives published copies of speeches just in advance of the speaker taking the podium. So if Bernanke speaks at 10:00 eastern, his staff disseminates copies probably around 9:59:30 (if not slightly sooner)
Moneyma$ter - thanks for all your comments - they've been invaluable. I was wondering how people jumped on the speech so quickly yesterday
  • #202
  • Jul 20, 2006 8:55am Jul 20, 2006 8:55am
Quoting MoneyMa$ter
Hey J,

Good to know you made some pips man. You live to trade another day. By the way, use multiple websites for economic news announcements AND revisit those sites as events get added or times change during the week.

Not sure if I mentioned it, but the press receives published copies of speeches just in advance of the speaker taking the podium. So if Bernanke speaks at 10:00 eastern, his staff disseminates copies probably around 9:59:30 (if not slightly sooner).

Just information; not a recommendation.
Hey MM,

What chart time frame do you use for news events? 5 min?

J
  • #203
  • Jul 20, 2006 9:06am Jul 20, 2006 9:06am
Quoting MoneyMa$ter
Hey J,

Good to know you made some pips man. You live to trade another day. By the way, use multiple websites for economic news announcements AND revisit those sites as events get added or times change during the week.

Not sure if I mentioned it, but the press receives published copies of speeches just in advance of the speaker taking the podium. So if Bernanke speaks at 10:00 eastern, his staff disseminates copies probably around 9:59:30 (if not slightly sooner).

Just information; not a recommendation.
What has been your impression of the market reaction time as compared to these speech releases? It's 9:04 (CST) and I see nothing - it could be that he had nothing special to say or that he hasn't completed the speech. Do you find that the market reacts almost immediately at the time of the speech due to the release of the written version, or does it take longer? It's not like an indicator is being released which is an immediate thing.

Thanks,

Jason
  • #204
  • Jul 20, 2006 10:38am Jul 20, 2006 10:38am
Quoting MoneyMa$ter
Mathematically, there is a correlation between currency pairs that tend, to some degree, to move in the same direction more often than not.

"The correlation coefficient show the moves similarity between pairs. If the correlation is high (above 80) and positive then the currencies move in the same way. If the correlation is high (above 80) and negative then the currencies move in the opposite way. If the correlation is low (below 60) then the currencies don't move in the same way." Further information as well as the table showing currency relationships can be found at

http://www.mataf.net/en/analysis-correlation.htm

Just information; not a recommendation.
Thanks for the feedback MM! I've built a spreadsheet to test values & risk management with straddle, I'll be doing some research on the news which make the market move like you mentioned in your thread.

I'll post updates on how I go.

Thanks again,
Carlos
  • #205
  • Jul 20, 2006 12:11pm Jul 20, 2006 12:11pm
Quoting jonas
Yes Sir,
appreciated if u can show us.
OK, here's the story. On my framework the GBP has been working on a particular fractal, shown here. Confirmation of it working on it is shown by it accurately hitting the top and bottom points of this 'set' of green lines at A and B. There's a freaky thing about this framework that says that 'if a currency enters a set that it's working on, it will finish it'. So when it got to C and retraced, I knew it would go to D, being the top of the set. It continued working on thast fractal to E, where it hit the line exactly, and now it has slowed down and is working on a different fractal - nicely forming Elliot waves through the next set up, which you can't see here, because it's on a different chart.
Attached Image
The framework is there; we just have to work on our frame of mind.
  • #206
  • Jul 20, 2006 2:04pm Jul 20, 2006 2:04pm
how did you figure out those fractal lines?
  • #207
  • Jul 20, 2006 2:15pm Jul 20, 2006 2:15pm
Watch what happens on an ECN platform (hotspotfxi) right before & after an economic release.
http://www.youtube.com/watch?v=LpGoiJHT1mc

You can clearly see how the bid/offers are pulled and the spread widens to a 10pip spread on the EUR. So even though your retail broker offer fixed or low spreads it is nearly impossible for them to offset your positions during volatile times.<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" /><o></o>

<o> </o>

Keep in mind the min. trade is suppose to 1mil on hotspotfxi<o></o>




turbo
  • #208
  • Jul 20, 2006 2:56pm Jul 20, 2006 2:56pm
those fractal lines are a framework that niceguy designed himself. His book is worth your money. As far as I know it's totally unique, and the most important element, your trading mindset etc, is approached powerfully. Search this forum others have praised it as well.

We all know how important psychology is.
I keep a close watch on this chart of mine...
  • #209
  • Jul 20, 2006 4:15pm Jul 20, 2006 4:15pm
Hey MIB, It is good to see you here again... Your stuff is always so well thought out. I missed it...

Scott


Quoting ManInBlack
those fractal lines are a framework that niceguy designed himself. His book is worth your money. As far as I know it's totally unique, and the most important element, your trading mindset etc, is approached powerfully. Search this forum others have praised it as well.

We all know how important psychology is.
  • #210
  • Jul 20, 2006 10:29pm Jul 20, 2006 10:29pm
Quoting girdle66
I have been attempting a new strategy as it pertains to news releases as of late. (BTW, this site has the best economic calendar by far.) Typically I'll wait until about 5 minutes before a "red" news release and set a limit order about 5 pips below and 5 pips above the current price. Oanda fills them spot, and I usually take my profit around 7:32 (CDT.) I've had some success and some failures. All of my failures have been because I kept the trade open too long, thinking that more profit was sure to come, then watching my 5-10 pips slide stedily down to -20 or -30. But if you're not a greedy individual it can work real well...

I'm not sure I'll ever attempt the strategy with real money, but it sure is fun for play. Anybody else had success with this?

-g
Straddle.

Use 1 minute chart and 1 minute before the news, Stop oredres BUY/SELL +10/-10pips. Ready your mouse to cancel the other when one of them get triggered. Or use OCO.

Whiplash can chop you when you are not careful. 10pips Tp will sheild you from it & its not too greedy!!
Change Your Thinking. Change Your Life - JD
  • #211
  • Jul 21, 2006 12:03am Jul 21, 2006 12:03am
hi, im new in forex (only 2 months), and iｴve been reading more books than when i was at my career (iｴm a lawyer).
iｴve found this strategy, and i want to know if any one has use it before:

before the news (2 minutes), using the one minute chart, watch for the higher high and the lower low, ad 10 pips to each, wait for the news, and take profit as soon as the candle stick fills
Have a good day and a good trade!
  • #212
  • Jul 21, 2006 12:55am Jul 21, 2006 12:55am
Quoting jtacher
hi, im new in forex (only 2 months), and iｴve been reading more books than when i was at my career (iｴm a lawyer).
iｴve found this strategy, and i want to know if any one has use it before:

before the news (2 minutes), using the one minute chart, watch for the higher high and the lower low, ad 10 pips to each, wait for the news, and take profit as soon as the candle stick fills
Thats what we called STRADDLING! This is the method I use before I learned to read TA. It keeps my moral high & also my live account.

FF calender is quiet accurate. Just use the Orange & red & ignore the yellow. Orange & yellow will usually react to the news more.

I got this from somewhere in this forum. I hope this will help.

Thanks
Attached Image
Change Your Thinking. Change Your Life - JD
  • #213
  • Jul 21, 2006 3:47am Jul 21, 2006 3:47am
Quoting OrangeRoshan
Thats what we called STRADDLING! This is the method I use before I learned to read TA. It keeps my moral high & also my live account.

FF calender is quiet accurate. Just use the Orange & red & ignore the yellow. Orange & yellow will usually react to the news more.

I got this from somewhere in this forum. I hope this will help.

Thanks
tnx is good to know im not in the bad road. Also, whats TA, you are referring to?
Have a good day and a good trade!
  • #214
  • Jul 21, 2006 3:54am Jul 21, 2006 3:54am
Quoting jtacher
tnx is good to know im not in the bad road. Also, whats TA, you are referring to?
TA means Technical Analysis. Graphs overlays with indicators.

Thanks
Change Your Thinking. Change Your Life - JD
  • #215
  • Jul 21, 2006 4:20am Jul 21, 2006 4:20am
Quoting smjones
Sorry about that, I had to shrink the chart a bit. 600X600 rule

SMJ
I have been following the breakout idea for a few weeks now before I saw your ideas and because I am a newbie I never thought to trade more than the big news breaks with this idea it really is very good many thanks.please could you tell me what the red and the white lines are on your chart. Are they moving averages as I presume and so what value are they and are they simple or ema?
Many thanks Pete
  • #216
  • Jul 21, 2006 4:53am Jul 21, 2006 4:53am
Hello

Anyone know is this news(Dallas Fed President Fisher Speaks) 'll do Great effect or not , and when the market 'll react at the same moment of the speaks or after 5 mins
Charting Markets into the Future...Mﾇ者問ぎﾂ･.
  • #217
  • Jul 21, 2006 4:56am Jul 21, 2006 4:56am
Quoting MaXeY
Hello

Anyone know is this news(Dallas Fed President Fisher Speaks) 'll do Great effect or not , and when the market 'll react at the same moment of the speaks or after 5 mins
Straddle with 1min chart
Change Your Thinking. Change Your Life - JD
  • #218
  • Jul 21, 2006 6:21am Jul 21, 2006 6:21am
Quoting Mr Trend
Oh, ok. That explains it. I was wondering why my big win of the week seemed pretty easy...

Oh no he didn't! :surprised
Now you know why I called you friend, Mr. Trend!!
  • #219
  • Jul 21, 2006 6:26am Jul 21, 2006 6:26am
is there news today for
<table class="tborder" align="center" border="0" cellpadding="3" cellspacing="0" width="100%"><thead><tr><td class="alt1" align="center">
</td> <td class="alt1">Dallas Fed President Fisher Speaks</td></tr></thead></table>
in other sites there's not !
Charting Markets into the Future...Mﾇ者問ぎﾂ･.
  • #220
  • Jul 21, 2006 6:27am Jul 21, 2006 6:27am
Quoting jlowder
Hey MM,

What chart time frame do you use for news events? 5 min?

J
Hey Jason,

5 minutes around 20 minutes before announcement; reduced to 3 minutes at roughly the 10 minute mark; then 1 minute from about 5 minutes out going into the announcement. That's on the 4XME system, which is not a price charting system but a reflection of buying and selling pressure in the market, combined with volume.

Just information; not a recommendation.
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