Cannon Trading Ranks Top 35 Economic Announcements in Terms of Impact on Trading

Discussion in 'Trading' started by CannonTrading, Oct 18, 2011.

  1. We recently asked our brokers to rank the 35 economic reports they see as most important in terms of impact on financial markets. Below are the items that came in ranking 5-15 and an excerpt from the article. All 35 ranked announcements are followed by descriptions.

    The author and polled brokers would be interested in hearing your feedback! Are there any you see as grievously misplaced? Please read the side notes about certain ranks that were highly contested, particularly the "Factory Orders" and "Philly Fed Survey".

    Rankings 5-15 from the 30 ranked announcements

    5. CPI
    6. PPI
    7. Factory Orders
    8. Consumer Confidence
    9. ISM Non-Mfg Index
    10. Chicago PMI
    11. Jobless Claims
    12. Industrial Production
    13. Existing Home Sales
    14. Philadelphia Fed Survey
    15. S&P Case-Shiller HPI

    (View the rest of the rankings and descriptions for each announcement in the original post)

    Where do I look and when do I pay attention?

    Every trader has done it. You've done it, your friends have done it, even your broker has done it at one point early in their career.

    Here’s the scenario:

    You've finally finished your futures education at Cannon Trading Company. You've done you're homework on stops, limits, indicators and price movements for the market you're trading. You're ready to go, you enter your limit order and you wait.


    You get filled. Your heart rate picks up, a wry smile crosses your face and you begin to imagine the possibilities of the one trade you're in: How much can I make? How much can I lose before it's too much? You’ve waited through months of technical trading and deep meditation to get here, and now it’s finally paying off with one of your first trades in the live market. Sayonara paper trading; aloha live futures.

    Then, all of a sudden, the top of the hour hits and the market starts acting up. It's getting more volatile and more volatile; it’s picking up speed and taking an unforgiving turn against you. You can’t think straight, all you can think about is your losing position that could get worse and worse as the seconds go by. You race to put in a stop order, but you finally have to settle for a market order just to stop the bleeding. You stare.


    You’re out of the market. What the hell just happened? You stare at the screen; did your indicators lie to you? Is your system faulty? Did you not listen to your broker? Well, probably not. But you're down several handles, you’ve lost some money and your pride is aching...

    The full article is posted in our Man v.s. Markets commentary section: Economic Annoucements Ranking 2011