Need a selection Never. Also seriously - service to provide trade setups based on news .... that has already happened? Did you hear? Pss, pass it on. Next person, I just heard blah blah. Ok now you trade it. Mint.
Yes, I use the DOM to help with my trades. Some are scheduled economic events, which many sites will list in advance so you can either not trade during them, trade right after, or have trade setup say with a limit order.
All real time news already happened. Economic events are already scheduled in advance. For example, in Forex I have a trade setup to go long the EUR/USD with a limit order that is set in advance and at the same time I hedge with a limit order to go short GBP/USD. These limit orders are setup in advance. They also if or when activated have a preset stop and target. What I use previous news is for trade bias. Since both bad and good news creates trends that can be traded. As noted in my trade, I was biased short, and was able to use PA on CL for a successful outcome.
You sold a yuuge gap down a "day late and a dollar short". Try that a hundred times and see what results you have.
Yes, economic events are already scheduled in advance but what about breaking global economic news events...do you trade the latter too or only stick to schedule economic events ? I would say YES because your 2nd post was a link you posted involving Oil. https://www.cnbc.com/2020/03/08/oil...opec-deal-failure-sparks-price-war-fears.html I do something similar to what you do but I don't used DOM to place trades nor do I use DOM info (market depth, order flow) to time my entries. Just chart analysis to time my trades. Also, I agree that bad/good news creates trends but it also can create range and price noise too. Yet, if you're scalping...it probably doesn't matter to you if its a trend, range or price noise unless you're looking for more than just ticks as profits for your trades. wrbtrader
The Forex system was designed around a 30 tick stop and target for events. That may be scalping for some. For CL and ES, normally around 10 ticks for 1 contract. I am trying in more volatile markets to go for more ticks on 1 contract or in future try to trade a 2nd contact at the same time to let it run with a BE stop. Sometimes I average into the trade in CL or ES depending on where the S or R is located.
https://finance.yahoo.com/news/rout-u-stock-futures-trigger-221631295.html (Bloomberg) -- Circuit breakers triggered limits on a harrowing plunge in U.S. stock futures, but they’re also leaving traders in the dark as to how big losses may eventually get. For those that continued to short CL and ES, you are doing well. For those that own stocks, you are going to wake up to pain. This is why options can help you for those long stocks. Buying cheap puts as the market continues to go down each day can limit your loses. As noted some people called it a mistake for me to be short CL after it already fell. Well, it kept falling. Trying to pick bottoms is a fool's game.
Now, as noted before I am not trading again till Monday night. However, I have drawn some arrows showing good PA zones for shorting which are the 1st 2 arrows. The last arrow is a place for a long on the triangle break. All clean price action.