Under programm selling you understand selling where the short trades are iniciated by software (conditions programmed in advance). It this is true how you see difference agains human iniciated trades? I can not imagine any method allowing this except reaction time. (if ES springs 5 handles and is in half second sold back up to original value this is programm iniciated trading because no human can react that quick).
Would I have been stopped out on this? As I said, im just learning and am on demo at the moment. The low overnight appears to have been 1172(my stop) and then it rallied. Would it have to trade at 1171.75 to take out my stop? Maybe bigger stops and a long only approach is the way to go. Its amazing how it always seems to be going up.
they're pushing it up as usual. Unemplyment news out in an hour? I reckon the people 'in the know' know that we'll spike up after the number and some are getting in early. Im gonna go long 1 minute before the news at 8.30 with a 7 point stop
If there's been one single print at 1172 your stop would have been triggered. Taking positions right before the numbers is, IMHO, akin to gambling (I don't mean it in a derogatory way). Good luck.
I see I'll assume I would have been stopped then for -4. Trading IS gambling though, really. Nothing is certain. Trading a chart pattern is still gambling. I think that there may be a pattern/relationship between how the price moves going into economic news and the reaction after. Seen it a few times now. ES seems very biased towards the upside. Worth a trade, especially on demo whilst i try to learn! thanks
news out yet? long from 81 edit: yes, number is out. Market hasn't done anything though. Thought it would have a mad spike up....