CT, you need to ask specifically about which news cannot be traded into with instruments you ar eplanning to trade. Talk to TST. It is their rules. I actually sent email to ask again regarding news. Just to be on safe side but with ZS economic releases ain't having no impact. But those agricultural news at 12:00 they do have and it is crazy thing. Much worse than CL inventories. I stuck 2-3 times in pre news markets and most of the time it is doing nothing.
This is what I got from TST yesterday. so, it is pretty clear:"No positions on within 5 minutes of a major economic or industry specific number release" I remember there was something about not entering trade 10 or 15 min after release too. But not here.
this re -entry can be a total loss . consider your strategy calls for 6 points of stop loss per trade in average. & already you're +30 points in profit on a trade ,then you set set trailing stops 20 points below current level .if you close it and want to have a re entry (at the best possible entry on pullback after release ) you have to undergo 20 points stop loss compared to 6 points average stop loss . on the other hand avoiding news days makes opportunities so rare.
You mean 5:1 R:R? I think opportunities in day trading for such R:R are pretty slim unless it is scalping with very small stops. But it is not a point. The point is. TST set some rules that define trading environment. So, trading plan should be adjusted according to those rules to succeed in this new environment or may be changed altogether. I am talking form my own perspective as there is no much news about beans or grains. But you are trading economic sensitive instruments. I did set my plan so that I am within all rules set by TST
well .. i'm reviewing "major news" days vs "no news "days .certainly those "news days" have more & better trends rather than non news days .
Maverick , it looks confusing how some one can avoid these situations meanwhile he wants to hold a position on GC/CL/ES that opened it before USA session. ,would you please do me a favor and explain more ? is it good to avoid days with no news in it or vise versa? i looked at recent three months . most of tradeable trends are within news days .
But the whole point is to make money within their parameters and rules. Some adjustments or changes are needed then. There is no restrictions on this during Combines but once TP or Live there is, so it makes sense to tarde Combine the way live money traded. Hence changes are needed.
It's not that confusing. Different news affects different products. For example, today we have crude inventories at 9:30. That does not mean you can't trade ES or Bonds. But you sure as hell don't want to be in crude right before that comes out. Crude could easily spike down a dollar on one long wick, stop you out for a massive loss and then go right back on with the trend. I don't see the point to that. There is way too much noise on those reports. I think the best trading days are the days "without" news in the product. I never traded Fed days or inventory days. Even the non farm payroll day was always a bitch, partly because guys would leave for the weekend after the report came out.
TST said trading should be flatted 5 minutes before and after "all red star releases" regardless of type of instrument .it means even if it's a red star release on china /UK economy a trader should not hold any position (even position on GC/CL/ES ) into it .in the recent week there was 16 red stars (14 of them in Europe and USA session ). as u said , i searched a lot and did not see any resource that which news affect which instruments...