So aparently the ISM was released early due to fears of a “leak”. I see news articles about it but my question is, being still a newbie, is this illegal enough to deserve being investigated? How did it leak out and who is responsible? Because no one seems to be questioning that. :rolleyes:
All I know is that thanks to that, my trade was 100 pips up and it turned around to almost B/E in a matter of a few minutes.
hey pip,
yeah…not sure about that but thats why its important to always be on top of your trades. i have cnbc on all day and also use a news program which alerts me on important breaking news.
if i’m in a position when relevant news is coming out either i’ll close out my position before (expecially when i’m already in a profit) or be ready to lock in my gains (or cut my losses) right then and there when the news comes out.
one thing i learned a while ago is that you never go broke taking a profit. better to be safe then sorry. some of these news events you just dont know where the currency is going to go. i usually try to stay away from them.
good luck.
Illegal how? There’s no legality issue here that I’m aware of. If so, some other folks recently would have been nailed for early releases. ISM isn’t the only one of late. Normally the punishment is that the newswire in question is cut off for some period of time.
I see. Thanks for the info. Now, in the case that someone would have leaked info before the actual release, what about that. Is it ilegal for someone to send out this info to a person or insititution with the intention of profiting from knowing it before anyone else?
ISM is a private body in any case so they can do what they like
Thanks for teaching me something new. I did not know that. That is why I don’t trade news. Well, I just got to say… What a hell of a week I choose to start trading live… Last week, and this week so far…
But I am not giving up… Better things to come
Thank you again