Where to watch live news?

Beginner Questions
21

Its realy nice to talk with you guys ,
And very helpful , and im sure many people would be watching this thread and read , that would help too …

Just wanted to point at something i saied ,

I saied that i trade the news , but My thread existed because i dont have the resource for Superlive news (no delay at all) ,
That mean , im Not trading the news nor i didnt gain 85profit today trading the news ,

But im gonna say my “way” trading ,

First of all , which made my profit
-Im not Greedy

i dont want to gain millions in the first year , so i want to grow my account slowly …
The past two weeks i was thinking " Damn , i should be doing live trade , i want to win , im wasting my time " but hey i come up with another thing
"Hell , this trading will last forever , i can start trading now , tomorow , next year" i have plenty of time since i have a real job as a Network Engineer (IT),

I want to learn very carfully before starting live …

That lead me to my perfect way to gain extra $ trading
Here how it goes :

I watch the very very hot news which has the most effects on Chart ,
I dont want the 40-100 Pips , i want 7-10 Pips of it not more ( Not greedy ),
i just enter my order after the big jump (after news release)

Example , US Employment raised by 10% , that would be huge , and will raise around 100Pip ? Yes i guess ,
okey i dont need them , i wait for the big jump , and then enter my trade , the USD will keep getting stronger for more than 5-10 mins after the big JUMP
thats way i got my Pips goal , and avoided the quote thing …

So , there is about 5-8 Hot news each day , That would benefit me around 40Pips daily …
40*4USD = 160USD since i trade with 40,000Units , which is very much for an employee here in my country …

25 days a month (Forex opening days) = 4000USD --> My account = 7K…

Its good and will grow up my account in 12 months … and will be huge …

Then , my Life would be wonderful here since 30K yearly is enough for a family to live perfect with 2-3 childrens

By the way , im 23 years old :smiley:

Would love to hear your opinion about my strategy … :d

22

Your theory sounds good, but in my opinion it is too risky. Here are some things you might not have considered:

When “very very hot news” is about to be released, the market uncertainty will cause a lot of noise. The price action will be jittery and spikey before the release. After the release, it may or may not cause a large reaction.

Other bad things can also (likely) happen prior or during a hot news release:

  • the platform could go offline for several minutes
  • the normal spread could enlarge significantly, enough to hit your stop even
  • the price action could jerk around so quick your stop is hit before any real movement
  • the broker could be overwhelmed and unable to enter timely orders for you at all
  • some brokers won’t even honor your order and instead force a “requote” of the price
  • stops are not usually guaranteed, which means you could lose more than planned

You say you only want 7-10 pips out of a 100 pip move. While that sounds good in theory, what will you do if your trade is in the wrong direction? You could lose 100 pips instantly. That would then take you ~10 more good trades to get back to breakeven.

I would say definitely try your strategy on a demo or pennies live account to make sure it can be consistently profitable.

23

Also, if you only want 7 pips why not wait for confirmation of the move before entering? If you fancy it to be a decent move because of the news release and you only want 7-10 pips you can afford to wait for confirmation that price is moving the way you think it will based off the news.

24

You got me wrong :x i hope so …

My trades was after the big moves , i managed to get 80% Profit out of 10 trades like this way …
I didnt enter my orders when the chart moved alot … i did wait a few mins till it went to stable , and startd trading short or long depends on the news…

So , the same as you do , i dont trade the news , i wait for the news , and see if the economy goes well ( usd getting stronger or weaker ) and then i get the job done …

Another thing which im going to test tomorow, To watch the chart how it move during the past 12-24 hours , and wait till news release , if the news results make the chart move the same as the chart did before 12-24hours i will start ordering my Trades …

Example : EUR/USD, during the past 12 hours it was going up and up (USD getting weaker) , US Employment went Down , that mean it will keep going same way , up and up , and there where i will start trading…

Good idea ? and what do you think ? should i always ask about things i do also if they bring me profit ? like the news one , it went very good , mayb i explaned something else , but in REAl work it was fantastic …

Cu :smiley:

25

Good morning,

Interesting discussion and nice thread. As you say: if not to you it will certainly be of benefit to others.

I understand what you’re trying to do and personally it’s not for me but, and as everyone else has said, you need to try it out on a live account and see what happens because, as I noted before, this is unfortunately not something that you can backtest. If anything: you’re at least fully aware of all the pitfalls of this method i.e. you’re not ‘going in blind’. And let’s face it: if you do manage to reach your goals this way then who am I or anyone else to say ‘it’s not the way to trade’??? Keep us posted on your progress though i.e. I’m sure all the contibutors on this thread would be keen to know how you’re doing with this (myself included). And let my say this: if it DOES NOT work then do NOT feel embarrassed and give up if this is REALLY what you want to do and I assure you faithfully that nobody on this forum is going to say ‘I told you so’. There are other ways to trade that can make consistent profits but over a longer period which, quite honestly, I would have thought that, given that you have a decent ‘day job’, would be the way to go i.e. trade the daily charts only, place your orders, go to bed, go to work, and check them and maintain the trades the next day. You’re in the very fortunate position that your living does not depend on your trading income so you do have ‘time on your side’. Then again there’s another way of looking at this I guess i.e. if you ‘wipe out’ your account you can ‘top it up’ every month from your salary!!! LOL!!! (Although: that’s not the ‘basic idea’ really)!!! LOL!!!

Anyway: so far as I can tell you at least have the right attitude toward this and that’s a very good start. I wish you well.

Regards,

Dale.

26

Just alittle update …

Account balance : 3085$
9 Trades today:
7 Profit
2 Loses
Mixed Unit Trades , 100,000 and 50,000 Units

Current Account balance : 3390$

305$ Profit

its going very well … 23Days left , and will be going Live…

27

Good (Saturday) morning,

I was thinking about you yesterday ‘Leopardos’. Did you trade the NFP using your method and how did it go??? For the first time in years (thanks to this thread) I checked the numbers after they were realeased and I see that they were worse than expected but the previous data was revised upwards: yet another problem that you’re faced with (the revision of the previous data). That was why (I remember reading it) that somebody earlier on in this thread said something along the lines of the initial move is not necessarily going to be the ‘end result’ i.e. the data first gets ‘digested’ (analysed) by the ‘pros’ and only then does the ‘serious’ or ‘genuine’ move (if any) begin.

But once again: if those are your results for one day then ‘good on you’ and well done. Again and not to put a ‘damper’ on things but that’s a huge gain in one day. I hope for your sake that it’s ‘sustainable’ because that is ‘key’ to success in this business. I really to hope that your live account ‘operates’ as smoothly as your demo account. A word of advice: if it doesn’t work out the way as planned then STOP before you’ve ‘wiped out’ your account i.e. leave yourself with enough money to try something different.

Regards,

Dale.

Edit:

By the way: for some reason I omitted to mention Deltastock’s Economic Calendar to you (Economic Calendar | Forex Economic Calendar). I’ve never checked or tested how ‘time critical’ it is to be honest. I do know that the news data releases via the trading platform are ‘pretty darn quick’ but you cannot test this on a demo account unfortunately (when I WAS ‘dabbling’ in this same method a few years back there were one or two occasions where the news data was released ‘microseconds’ BEFORE I heard the data on Bloomberg i.e. it comes from Dow Jones but admittedly this is the exception rather than the norm). Just making you aware of alternatives is all.

28

Hello again,

About the NFP , i had a problem , big one … Disconnect :stuck_out_tongue:
Was huge moves on the chart so i was KICKED out :stuck_out_tongue:
I dont know if its the same as the Live at OandA…

But, i never trade on news release exactly … I consider them the key of where the chart heading in the next few mins after the release ,
Yesterday , the EUR economy wasnt doing so well , the US also , but better than the EUR …

And after checking the chart behaviour for the past 5-12 hours , the US was getting stronger without news release , and there when i jump on chart ,
Would help me to decide Short of Long for the rest of the day im going to trade … I stop trading before 20-15 mins of important news release and recheck how it goes , if USD getting more and more stronger i would be keep Trading same way …

Pretty good strategy for trading …

And thanks for your Calendar link :smiley: now i have 3 , so i would be more careful , when or when not to trade

Cu :smiley:

29

Hi,

Sorry to hear about the NFP and the platform problem (I’m not saying that this IS what happened with your broker but it is indeed another little ‘pitfall’ that you man encounter with certain brokers).

Anyway and oddly enough I found this this very morning (it SAYS it’s ‘free’ and I’ve not signed up to check but maybe also a good source i.e. it’s ‘CNBC Plus’ as opposed to ‘CNBC Pro’ which is chargeable):

https://login.cnbc.com/cas/login?service=http%3A%2F%2Fplus.cnbc.com%2Fj_acegi_cas_security_check%3Bjsessionid%3DC82A1A7902EFD5A5A582321275A2E2EB&login_view=video

Regards,

Dale.

Edit:

My mistake i.e. upon looking further you get a 7-day ‘free trial’ so I guess ‘that’s that’ then!!! LOL!!!

30

hehe

Thanks for your link , I will try it before 2 days of going live , so i will have 4 days in Live…

Im not sure how this is helpful , the CNBC Pro , and Bloomberg Pro Terminal …

Alot of $$$ monthly charge , that wouldnt be my solution during the first 2-6 months trading …
I would start with it when i reach 100K ?:stuck_out_tongue: well , Mayb.
4k a month means i will trade for Bloomberg pocket not mine :stuck_out_tongue: :stuck_out_tongue:

and as i see , the news trading is hard due to lags and quota things …
But basicly its easy to know where the chart heading for the next few mins …
Little pips , but alot of cash for me :stuck_out_tongue:

31

No problem.

Like I said: as long as it makes ‘cash’ for you then things are good i.e. that’s why we’re all here right???

‘One day when I grow up’ and because of what I trade I also want a Bloomberg Professional Terminal. I think that for retail forex trading it would be a bit of an ‘overkill’ i.e. both Bloomberg and CNBC are more ‘geared’ for equities etc. which suits me fine. They sure do look nice though!!! LOL!!! I’ve been invited to one or two of their coktail (can you believe that this site thinks that 'coktail’ is a ‘nasty word’) parties here (last year) but I’m not one of those people who will go and ‘stuff’ myself with other people’s food and booze knowing full well that I’ve no intention of ‘buying’ at the present moment!!! LOL!!! I would imagine that they put on quite a ‘spread’ (no pun intended)!!! LOL!!!

Regards,

Dale.