Charting Markets into the Future...MǎҖ€¥.
Let's trade the news 4 replies
BELLA SYSTEM. Let's try it, let's improve it! 118 replies
Let's Trade The News! 46 replies
News Feeds - let's rate them 2 replies
DislikedI having been trading for about 8 months and trading the news 3 months. I do it full-time. I appreciate maxey contributions and burgerking and everyone elses imputs. You all have impacted my trading style tremendously. In my last 70 news trades only 14 losses. And a lot of those losses came from broker issues or reports that you should never straddle or even worth trading. (But hind site is 20/20). I like what someone said here, "count your losses as what you would paid for the autoclick service monthly fees". Autoclick trading to me is better than straddling but they are still affected by revisions, conflicting numbers, multiple reports coming out at the same time. I actually plan my trades, I don't just guess . I listen to bloomberg t.v, I have the consensus numbers in front of me and set my own triggers to close orders , and I listen for the actual numbers. Sometimes days in advance I have a plan in place for each trade. I have a hard time trading technical strategies because I am impatient and I do not want to wait a long time to get my pips. News trading gets me my pips within a blink of an eye almost. That's how I like it [img]images/icons/icon10.gif[/img]Ignored
DislikedI can point you in the direction of the one I use. There are 4 auto-click programs, and three are well known. The only one I would recommend out of the three majors auto-clickers is the one from "Montreal, CAN". The The other two are very disgenuine people and the one run by Felix will be out of business soon for illegally distributing Bloomberg feeds to people that are not paying for it.
You summed it up in your own sentence:
"They also allow you to subscribe to a news trading feature that gives you a signal before the news actually comes out."
Felix the idiot put out an email saying what you just summed up and how is this possible to get a signal "before the news actually comes out" when the signal is based on that very news release? Bloomberg has a copy of that email Felix sent out and it will most likely be his "archilles heel" when the charges are brought against him
The service I use is not heavily promoted and the room will be shut down to new users when enrollment reaches 30. The person running it is just looking to cover cost, not pay a mortgage.
P.S.-We were using auto-click BEFORE any of the other services, and the service I use is the cheapest, but it isn't actively promoted, b/c the two guys that run it, didn't want to cause broker issues, like the two main greedy idiots did with their guerrilla marketing tactics once they had it in place. This is why no one can get executed these days at a retail broker. I get executed at my institutional broker about 90% of the time.Ignored
DislikedHi Fxmasterjedi,
I'm not really in trading the spike, but I would really be interested in being part of an honorable group of traders around news events. Would be very interested in the Canada group.
I have tried demos of both the autoclick services you mentioned that are creating problems using their mass marketing techniques. I've been working on forex fulltime for 2 years now. Just started looking at news again in the last 60 days. I wanted to say a couple things about the people trying to straddle or trade the spikes and I'm talking mostly about autoclick.
Working in a demo account is nothing like working in a live account. Don't ever expect that trade execution in a demo account will be anything like a live account. Many of the brokers suck you in in demo accounts by giving instant execution but when they realize what you're trying to do they will put you on manual and you will have great difficulty getting filled.
Find a broker using STP that has NO DEALING DESK or a broker that is working directly with institutional feed (usually the minium is $50,000US or more. If your broker offers a fixed spread they will not allow you to continue to trade news on a live account unless you can fool them somehow. You're all heard about the lockouts, requotes, system freezes, internet down, a problem with your ip address, and on and on.
The fact is there is no liquidity during news time and even brokers at the institutional level have trouble deciding where price should be. So they pull their feeds.
I've tried live trading the news for the past 60 days using autoclick. I'm still trying to find a broker at the $20,000 level that will fill my orders. It's very frustrating to see your order enter the brokers TradeStation at exactly 8:30am on any of the top 10 news events at a great price and then watch it disappear and 5 minutes later get a requote 50 pips away from your entry. I have tried 3 brokers so far with live accouts 2 of which were recommended by these same autoclick news services. I've only had 2 out of 10 orders go thru when the triggers issued a safe buy or sell. This grows old real quick.
You'll hear the room Monitor (I'm sure those of you who have tried this know what I'm talking about) talk about all the people that got filled and at what price. You'll even here about some people that didn't get filled for a variety of reasons like the ones I mentioned before. What you don't hear is wether or not these people were trading real or demo accounts. You also can't see any of the chat in the room "because of privacy issues". Inotherwords, you really have no idea what is actually happening other than your own results in a live account. You have to question why these guys would be marketing their services so aggresively, if it was as easy as they make it seem they would be retired and on a beach somewhere. Just look at their web sites and you can see all the sleezy marketing techniques. Like "special deal good thru tonight at midnight" of course the following day always has another midnight or "price dropped from $995 to $295 SPECIAL PRICING" or "Only good to the next 20 buyers". WOW how much sleezier could it get?
I would highly recommend from my own experience that if you really want to trade the news do it around the spike not at the spike. You will notice with variable spread, STP brokers, giving level 2 feeds, that the spread go back to normal very quickly once the instutions figure out where price should be and the liquidity comes back into the market. This usually only takes 5 minutes unless its NFP and price is whipsawing all over the place especially with GPB.
Do what Maxey, BurgerKing, and others are doing as far as research goes and research the hell out of the major news releases and look at the economic mindset leading up to the news, overall trand direction, Pivots, Fib levels, and other key support and resistance. There are many great opportunities 2-4 hours after the news that can make you pips and the liquidity created by the news keeps the variable spreads very tight.
Happy trading!!!Ignored
QuoteDislikedI'll give all of youj news trader wannabes a helpfl nudge in the right direction. Find a way to get proper tick charts from an institutional feed whether that be cnx, ib or otherwise. And see what happens in the first 60 seconds. It'l be vsitly different from what your retail brokers provides in terms of price action and you'll see a very easy and consistent way to make money .... and liquidity is very much not an issue 10 seconds after the data has been released.
DislikedHi Sccz97
Stupid question here . Are you saying that the institutional feed will show the true direction of price before the retail brokers?Ignored
Dislikedall of you trying to trade news on retail platforms are just wasting your time ...Ignored
DislikedMay be we should start an afterspike trading thread with historical moves based on a global view of the news releases (I mean not only the main release but also revisions, conflictual data's, general trend at the moment of the news, the key levels at the moment of the news,...).
Ok, I gave the idea, who does the research work...?Ignored
DislikedMay be we should start an afterspike trading thread with historical moves based on a global view of the news releases (I mean not only the main release but also revisions, conflictual data's, general trend at the moment of the news, the key levels at the moment of the news,...).
Ok, I gave the idea, who does the research work...?Ignored
DislikedI guess you can tell by now that I really don't believe that you can consistently beat the Forex market by trading news spikes. I know that these autoclick guys would like you to belive that, but my personal experience using these guys in live accounts is that it's potluck and eventually the majority of them will not be arround.
You need to do the research and figure this stuff out on your own. Would you rather have someone catch fish for you or teach you how to fish so that you can support yourself for the rest of your life. I know that sounds corny as shit, but thats what we're all dealing with. For the newbies out there, think hard about this. You have a lot of time to make a career in Forex and you WILL end up buying yourself the education one way or another. It takes 1000's of hours to learn this stuff.Ignored