Can anyone share the best way to get ‘real-time’ (or as close to it as possible) news reports without having to fork over the cashola for newswire services?
Any thoughts/ideas you can share would be GREATLY appreciated.
The way I trade the news is I use bollinger bands.
Long:
10 minutes before the new economic release I place an entry order 5 to 10 pips above the upper Bollinger bands
Short:
Same as above but place an entry order 5 to 10 pips below the lower Bollinger bands.
My stop is at the opposite bollinger band
Dont’ know of any such thing that exists Pipiphurray. Some sites “say” they offer these news releases for free but, what you get is always time delayed, if at all!!
Best to find your own system, like vogy56 mentioned what he does. Personally, if a news report is good, like the NFP, I usually wait until 1 minute AFTER the news release then trade accordingly.
But, you have to find what works for you! Just takes time and patience. I know, a word not many like to hear, “patience”. But, that’s what will work for you every time, patience.
A free audio service is NewsStrike, although they seem to primarily focus on US data releases (or at least they used to).
Another option is to just watch Bloomberg or CNBC TV. If you don’t have them as part of your TV package you can watch them on the web via their websites (Bloomberg is definitely free from their webpage, although I think you have to pay a subscription fee for CNBC’s web cast).
Your broker should offer a news service too, which will generally be delayed by 10-15 seconds, but does the job.