Make Easy Pips With Economic Calendar - page 5
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
Hello.
Ok, my first post.
Thanks for your efforts scorpion. The calendar it´s too helpful.
I would ike to express some ideas in my first post, to all requesting "inmediately" news. And to some guy who wants to convince everyone they trade the news.
I think scorpion approach is the right one.
You take an action before the news based on a forecast. As the same way you do based on a forecast of indicators.
Two years of body preparation, the best trainers (Nike), a little steroids dope, and I just lost the race against a Porshe.
Some people want to trade the news when that´s impossible.
If you have read Alex Elder, there is some equation like this.
1-News are first know on the pit.
2-Some company collects then and sends to you.
3-At the speed of light (if you´re so much lucky) news appears in your screen.
4-You read the news.
5-You have to take a decision and you´re the most fast broker in earth to think: What I have to do? long/short? stop? TP?
6- You enter the order
7- YOU´RE LATE
The traders in the pit are going to kill you with execution, slippage, false movements, whatever you want. Because you´re: 1 minute later? 30 seconds? YES.
The only way to "trade the news" is with a place in the pits. With you screaming: BUY/SELL bla bla bla.
With you have a full understanding of what is going on. Pit traders always have the advantage.
Ok, some people don´t "read" the news and enter with a hunch if the value is above or below, what it´s the same of the flip coin mentioned by Nick.
Some people blame the broker because re-quotes or not filled orders.
And some people thinks their finger are not fast to click the mouse when a pair moves 50 pips in 2 seconds.
Just mi opinion.
Btw Scorpion.
Could you add some cookie to avoid set the time every visit.
Great work Scorpion, I've been following your Calendar for a while now, especially on BoE Interest Rates, as I'm in the UK.
The idea to put an order in BEFORE the news is announced, is great.
A pair of "straddle" orders could be set up.
However, what I've noticed happening a lot - and it happened today with the BoE Interest Rate decision - is that just before the news, there will be a definite "nod" in the direction of trade, which i guess is the market-movers taking their position.
If you put an order in then, with relevant TP you should be ok.
The straddle order should save you if things go the other way too, and reverses your position.
So, I think the best thing is to trade only the recommended high-volatilty (red) news, especially US Employment Situation; but to practice "live" on a demo first, to get a feel for the way things move at news.
What do you guys think?
Can't wait till tomorrow's news. I'll keep practicing and let you know how it goes.
Scorpion,
Your doing a great job. Another thing to add to the calendar...besides remembering the time zone, is going to the current date.
Right now, I always have to scroll down to the date, and at the end of the month it is a little tiresome....but I can manage if you do not want to add that functionality.
Thanks,
BP
Today UK Industrial Production was very good. Following the rules I entered with a demo in the spot at 1.9765. Easy 40 pips in less than hour.
I closed the trade before to interest rate, 90 pips could be done.
I don´t know what is the source but seems to be good.
Specially with reds and oranges.
If the news don´t show direction just forget it. Wait for the next one.
Hey guys. Thanks for feedbacks.
I'll be demonstrating my new indicator Fractals Paint with this system, see if it could be a good filter. 30 mins before new, if Fractals Paint is blue, i'll put a long order, maybe 2 lots. If it's red/green, i'll risk only 1 lot. See how it goes...
Don't forget to tune to Bloomberge or CNBC channel! I believe the news is release in real-time.
SpecialFX, interesting strategy. Could you post a chart or two demonstrating how you put the straddle orders?
bearpaw, ok i'll consider your suggestions when making next revision.
OK, NFP for April 6th is coming out soon. From the Economic Forecast here, it say the direction is up for EURUSD - I guess that means long. From what I am reading elsewhere, they expect NFP to be very healthy, so wouldn't one want to short EURUSD instead?
OK, NFP for April 6th is coming out soon. From the Economic Forecast here, it say the direction is up for EURUSD - I guess that means long. From what I am reading elsewhere, they expect NFP to be very healthy, so wouldn't one want to short EURUSD instead?
Here is a qoute that was posted yesterday....
....There could be a big move if there is a large deviation from the expected figures. A number of above 150-155K could result in a EUR-USD move below 1.3320, while a NFP Figure below 100K could result in a EUR-USD move above 1.3450, with moves on both sides exaggerated by low liquidity. OR, it could also be that there won’t be any movement at all
et, we trade against market's expectation. Why should we trade a long with their expectation? If they're correct, there won't be much volatility, unless the actual comes out too positive.
EURUSD Fractals Paint is red currently. It's telling us to short, but i'll long 1 lot.
et, we trade against market's expectation. Why should we trade a long with their expectation? If they're correct, there won't be much volatility, unless the actual comes out too positive. EURUSD Fractals Paint is red currently. It's telling us to short, but i'll long 1 lot.
So the calendar is always against the trend?