Hello guys, I hope you’re doing great. Been here dealing currency for quite a while now. But there seems to be a difficulty for me to keep up with speeches and reports (which we all know affect the fx markets the most). The bad thing is that the speeches have quite important info but the news agencies like Bloomberg take some time to report the important facts and when they do it’s almost the end of the movement! By the way it’s really hard to read all the report involving monetary policy and inferring important info. So how do you guys keep up with that? And as you know Fed has some important reports and speeches coming tomorrow, so your advice is really appreciated!
You don’t. There’s no way to compete against the bots for speed when the news release comes out.
You can get in on the first movement with OCO orders on either side of a range, or use price action to enter the secondary movement (a fade or continuation). But there’s no way to read the report, make a decision, and then take your position because it’s far too late by then.
Hi,
A live news feed is a really great tool for you use to help with keeping up to date.
I personally use the RanSquawk. Some brokers give you this service for free if not you have to pay for one.
hi there,
this is what i personally have found so far, as still experimenting, to be working more efficiently:
(Today’s US CPI is used for the sake of the example.)
1. go here and take a note on the event you are willing to trade (3 dots’ event is recommended for getting decent volatility)
2. draw the important lines on the hourly chart, just to get a more clear look of the market conditions. Many skip that step, yet i find it adding confidence.
3. go to the lowest tf you can manage, M5 for the example, spot the last R & S just before the event to be traded and place the “buy stop” and “sell stop” orders some 10 to 20* pips on the upper or lower side of the R & S spotted, respectively.
4. sit back and relax, no need to keep an eye on what is the exact figure when it comes out
5. after the figure goes public (you will know by the sudden / fierce price movement) delete the pending order placed on the opposite side of the market’s direction.
- This is all very customizable according to the event traded, market conditions, trader’s psychology/mindset etc. but it is a good start;
hope this helps
cheers
probably useful addition that has just came up:
draw a vertical line* on the exact time, i.e. the exact candlestick that the news come out, this way no previous movement will distract your attention.
*Ideal for the example (due to chart color scheme) would be a yellow dotted line so it won’t hide PA, the one on the photo above is a patchwork using windows’ paint.
[QUOTE=“etfak;636379”] hi there, this is what i personally have found so far, as still experimenting, to be working more efficiently: (Today’s US CPI is used for the sake of the example.) 1. go here and take a note on the event you are willing to trade (3 dots’ event is recommended for getting decent volatility) 2. draw the important lines on the hourly chart, just to get a more clear look of the market conditions. Many skip that step, yet i find it adding confidence. <img src=“301 Moved Permanently”/> 3. go to the lowest tf you can manage, M5 for the example, spot the last R & S just before the event to be traded and place the “buy stop” and “sell stop” orders some 10 to 20* pips on the upper or lower side of the R & S spotted, respectively. <img src=“301 Moved Permanently”/> 4. sit back and relax, no need to keep an eye on what is the exact figure when it comes out 5. after the figure goes public (you will know by the sudden / fierce price movement) delete the pending order placed on the opposite side of the market’s direction. * This is all very customizable according to the event traded, market conditions, trader’s psychology/mindset etc. but it is a good start; hope this helps cheers[/QUOTE]
Thanks etfak for your strategy.
But I’ve got to ask you to be more cautious with take. To see what I mean please check the nzdusd chart just a minute before the overnight rates came out. The pair dropped 20 pips just a minute before the release and suddenly moves up more than 40 pips afterwards hence the bullish news.
So your strategy could be risky dude. Please consider more risk management on that one.
By the way thank you so much for posting.
The majority of the major central banker speeches stream live on the internet, for free.
I just listen in for key words (accomodative, inflation, in line, easing, sooner than expected, etc etc) and confirm via price action. Clearly, it’s not that easy…but, if you identify some levels on say, the H1 chart, then drop down to the M5 or M1, you can trade a high impact speech with confidence.
[QUOTE=“VintagEducation;636370”]Hi, A live news feed is a really great tool for you use to help with keeping up to date. I personally use the RanSquawk. Some brokers give you this service for free if not you have to pay for one.[/QUOTE]
Thanks for sharing this. Although it’s really expensive for me!
[QUOTE=“FOREXunlimited;636392”]The majority of the major central banker speeches stream live on the internet, for free. I just listen in for key words (accomodative, inflation, in line, easing, sooner than expected, etc etc) and confirm via price action. Clearly, it’s not that easy…but, if you identify some levels on say, the H1 chart, then drop down to the M5 or M1, you can trade a high impact speech with confidence.[/QUOTE]
That is the reasonable way of trading the speeches for sure. But I thought in the era of bots and machines there would be a way for us retail traders to have access to important parts of the speeches or reports without having to sit down and watch a press conference for an hour.
The market makes its move, quick - usually within the first 2 - 10 minutes.
The most important info is usually released in the beginning of the conference- which is why you see the largest spike typically on the lower time-frames shortly after the release, then price just fizzles out.
No need to “watch a press conference for an hour”…I’ve never done that ! 
[QUOTE=“FOREXunlimited;636397”] The market makes its move, quick - usually within the first 2 - 10 minutes. The most important info is usually released in the beginning of the conference- which is why you see the largest spike typically on the lower time-frames shortly after the release, then price just fizzles out. No need to “watch a press conference for an hour”…I’ve never done that ! :)[/QUOTE]
I try you’re advice for tomorrow’s release.
Wish me luck 
Remember though- Just because there is a release, doesn’t mean there will always be a trade.
The Market volatility is already accounted for as a market move before the news even hits the wire. Its all already been timed in. Your job as a trader is to read the signals and accept the risk or stay out of the market and let the professionals work.
Exactly my point r.e. my previous post.
Perfect example: One of my favorite prints to trade is NFP. I have my own strategy and trading plan for this release on its own. I can’t remember that last time when I wasn’t involved in a release, as it typically brings about market environments ripe for trading. However, the June print just “didn’t sit right with me”, and I actually did not trade it.
The markets seemed too confused to digest the number. The usual 60, 70, 80 pip spike on most majors was non-existent. Long story short, I started my weekend early.
Same thing goes for any other high impact release.
Just because we as traders know orders are about to flood the market, doesn’t mean we need to force ourselves to take a position. It’s all about being patient and trading according to your plan and risk parameters when it comes to trading news events. The market has the potential to move quickly, without any rhyme-or-reason (i.e. a “good” release for the currency your trading, but, the currency starts to sell-off) and you don’t want to be caught trying to “hope” for your position to mature.
Don’t ever turn a trade into an investment.
Most of us are traders, not investors.
I really don’t know why when we ask people for their opinion on financial market they get so much ****y about it!
They act like Adam Smith trying to teach his pupils
[QUOTE=“FOREXunlimited;636412”] Exactly my point r.e. my previous post. Perfect example: One of my favorite prints to trade is NFP. I have my own strategy and trading plan for this release on its own. I can’t remember that last time when I wasn’t involved in a release, as it typically brings about market environments ripe for trading. However, the June print just “didn’t sit right with me”, and I actually did not trade it. The markets seemed too confused to digest the number. The usual 60, 70, 80 pip spike on most majors was non-existent. Long story short, I started my weekend early. Same thing goes for any other high impact release. Just because we as traders know orders are about to flood the market, doesn’t mean we need to force ourselves to take a position. It’s all about being patient and trading according to your plan and risk parameters when it comes to trading news events. The market has the potential to move quickly, without any rhyme-or-reason (i.e. a “good” release for the currency your trading, but, the currency starts to sell-off) and you don’t want to be caught trying to “hope” for your position to mature. Don’t ever turn a trade into an investment. Most of us are traders, not investors.[/QUOTE]
Thank you.
Good points made here.
Although we all know economic releases involving numbers (like the ones you see in your economic calendar) don’t regularly show long term impacts. In most cases not even a medium term.
The reason of this topic was to discuss the speeches and reports that mostly show longer term impacts and higher degree of probability to traders.
For instance last week’s monetary policy speech by BoE. Or last month’s ECB’s policies.
These are certainly more dominant in determining the direction of the market rather than US CPI or employment change.
you know i don’t bother posting a lot because it is confirmed again and again that rarely someone either reads a long post or does that with required attention
bests
You can check forex social media accounts for live updates too!
[QUOTE=“PipDiddy;636469”]You can check forex social media accounts for live updates too![/QUOTE]
Would you give me a link to a good one please?
we need take carefull when we analysis with news. it has many case with this. not only good or not good. you can see sometimes you saw the good news but currrency still down trend