Ghost of If You Can Draw A Straight Line

Where is there a good online calendar for news releases that effect the financials?

 

http://fidweek.econoday.com

 

Hi DB, I'm incorporating the pre-market range, as per your suggestion, and so far it's working out beautifully today. This is my 15 minute chart.

Schaefer

 

I wouldn't come to any conclusions based on one chart, but I do consider the overnight activity to be important. For that matter, any activity is important since it all conveys information.

These instruments trade 24/5 all over the world. It is an error to dismiss millions of traders simply because they don't live here. Some very interesting moves can take place long before NY opens.

Glad this worked out for you. Something else to investigate.

 

DBPhoenix,

Thank you for your reply to my question. I have approached entry from another perspective. You have given me some food for thought.



Warm Regards,

Toby

 

You're welcome. I got the basics of that from Wyckoff but I must have come up with the terminology myself, based I assume on his water references. It's been a long time.

As for how far from the trough or crest to place the entry stop, that was a matter of testing. Tighter and you risk being sucked in by a meaningless tick. Too far and you run into recoil and have to sweat out the continuation, if there is one. As to making the entry stop a stop-limit, I got that from Teresa Lo.

So we all owe much of what we are to somebody else.

 

http://www.forexfactory.com/calendar.php

 

"As for how far from the trough or crest to place the entry stop, that was a matter of testing. Tighter and you risk being sucked in by a meaningless tick. Too far and you run into recoil and have to sweat out the continuation, if there is one."

This is key. I am trying to translate this to spot currency markets. Each pair has its own little personality. None of my tests have built much confidence. Being sucked in by a meaningless tick (or pip) rings true.

Thank you for your insight.

Toby

 

Why on earth are you trading forex? Are you studying to become a currency specialist?

 

Speculation is the family business. My dad began his career trading spot currencies on the prop desk of a Chicago bank. He has since moved on to trading for a select few clients, but is still active in spot currencies among other things. Though I want to forge my own path, standing on the shoulders of those who have gone before me is not bad thing.

Toby