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Retail & Euro CPI

  • #1
  • First Post: Aug 16, 2006 6:02pm Aug 16, 2006 6:02pm
Hi everyone,

I'm a new member, but I''ve been reading this forum for a few weeks now and I really like this site. I've been trading for a while now, and find that news trading is more profitable for me...anyways I was wondering if you guys thought there was going to be any volatility for tomorrow's news (UK retail sales and Euro CPI)...thanks
  • #2
  • Aug 16, 2006 6:37pm Aug 16, 2006 6:37pm
Uk retail sales for sure provides enough volatility to news trade. Not so sure about the EUR. I don't trade that one. Make sure there is a comfortable amount of deviation if you trade UK, unless you are straddling.
Life is too short to have anything but delusional notions about yourself.
  • #3
  • Aug 17, 2006 12:34am Aug 17, 2006 12:34am
Quoting hoss
Uk retail sales for sure provides enough volatility to news trade. Not so sure about the EUR. I don't trade that one. Make sure there is a comfortable amount of deviation if you trade UK, unless you are straddling.
If straddling, retail sales from any given sector does not always guarantee enough volatility, I would suggest you set your entries conservative.......at least 15, if not 20-25 from current market b/4 release and be prepared to take both orders off the board if there is no instant consnsus.....I have saved myself from many a 10-15 whipsaw with this approach..................no trade on these "no-brainers" is better than a 20 pip loss......

good luck!! Let us know what you do and how it works out....
  • #4
  • Aug 17, 2006 2:15am Aug 17, 2006 2:15am
Hi

I burned myself so often on UK news that only did 30 pip.

So even if you put a straddle on 25 pip away. I think that it may even be worse than 10 pip entry and a 10 pip TP.

Depends on the spread of course. The spread is sometimes half the first spike, which leaves very little left on the table. And with all the whipsaws lately in UK, do you dare to hang on and see if the price moves more than the spike?

Therefore I am not trading this today, just to be carefull.
  • #5
  • Aug 17, 2006 3:43am Aug 17, 2006 3:43am
just finished trading the retail sales!!! I was lucky I didn't place my entry orders until the last 15 sec. b/c the GBP/USD went up almost 15 pips before the actual report came out. I was able to make about 20 pips!!!, so now its time to look at Euro news only 20 minutes away............
  • #6
  • Aug 17, 2006 6:23am Aug 17, 2006 6:23am
I was away when the UK news came out. I would have traded it but dont know if I would be caught by the false spike 1 minute before the news.

The news move GBPUSD 40 pips down.
  • #7
  • Aug 17, 2006 2:58pm Aug 17, 2006 2:58pm
Quoting s5804
Hi

I burned myself so often on UK news that only did 30 pip.

So even if you put a straddle on 25 pip away. I think that it may even be worse than 10 pip entry and a 10 pip TP.

Depends on the spread of course. The spread is sometimes half the first spike, which leaves very little left on the table. And with all the whipsaws lately in UK, do you dare to hang on and see if the price moves more than the spike?

Therefore I am not trading this today, just to be carefull.
FYI- I didn't like the pre-news movement so I laid off this UK report...........whether it was just buried in the back of my head from your post or not, all I could think was "whipsaw"...........s5804...upon backtesting (and where I would of placed my entries), I think you saved me some heartache this a.m.!!!!!!!!!! I think I would of been stopped out of a Long position like magic!!!

Thanks for making me cautious....
  • #8
  • Aug 17, 2006 3:46pm Aug 17, 2006 3:46pm
Hi

learningtheropes, I didn't trade either and will probably never trade UK news again... until greed picks up again.

From my live results all losses have been UK news.
  • #9
  • Last Post: Aug 17, 2006 3:59pm Aug 17, 2006 3:59pm
Quoting s5804
Hi

learningtheropes, I didn't trade either and will probably never trade UK news again... until greed picks up again.

From my live results all losses have been UK news.
I'm thinking the same thing........UK CPI was also questionable this week...I got filled on my short and ripped off 8 pips and closed out. It just didn't feel right.........
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