Trading Website Features and Tools For Example Using info from past Economic News Release Reports a trader could look at intraday charts during Release Date /Times to determine whether to mess with it or not. If you like it, then maybe Checkbox a Feature to Receive an alert for your selected economic events, or just schedule it during your weekly 'get ready to rock' prep time. - News coming up this month - Pound CPI Report - Not the Greatest Usually a Pretty Good One Usually a Big Mover Has been a non mover - result, (ymmv) example only GB:CPI GBP/USD, GBP/YEN, 70 – 80 pips - Release Date Time Actual Forecast Previous Oct 21, 2020 (Sep) 02:00 0.2% Sep 16, 2020 (Aug) 02:00 0.2% 0.1% 1.0% Aug 19, 2020 (Jul) 02:00 1.0% 0.6% 0.6% Jul 15, 2020 (Jun) 2:00 0.6% 0.4% 0.5% Jun 17, 2020 (May) 02:00 0.5% 0.5% 0.8% May 20, 2020 (Apr) 02:00 0.8% 0.9% 1.5% https://www.investing.com/economic-calendar/cpi-67
trading the news is for junkies and addicts; everyone else stands aside and volume becomes vapor thin, skip news and trade accordingly. Sites that did news event trading are out of business (boxbreakouttrading.com: breakawaytrader.com; smartmoneyroom.com) are out of business or they do not have stats or track record (jobracketreakout; now thenewstraders.com) and are worthless.
Was that trading the news? Was that trading the reaction to a scheduled economic report? That's why there's value in "defying human nature and doing the work yourself", lol...seeing things with your own eyes. Have a look at the chart above, what is your take on that? Was it news related, NO, the move happened two hours later, you'd have seen if you read the post. Was it trading during the report? No. That lesson was taught way before now, and one most don't have to learn by experience, but by listening to any more seasoned trader and doing the simplest of due diligence by looking at five or ten charts from past announcements", like is suggested in this post lol. Sometimes the simple advice is well heeded, like Don't piss into the wind, "Stand aside during news announcements", especially fed crap, but standby for the reaction to the reaction for a good entry trigger if it exists. no entry trigger, sit on hands. there's always another train leaving the station. Solid trading plan and tested entry triggers make this possible. Have a good look at the post. There were a couple of good entry triggers in the gbp during that day. Most trading days in the gbp rival watching paint dry. This day would have been Worth the time to monitor a ten minute chart while taking care of other routine trading on nq for example, though gbp is generally not in the todo list. On this particular monthly announcement, it could be worth a glance or two. Now I know. Agree or Not, Dazz? Nobert? I see posts on ET from day traders that don't look at economic report schedule as part of a startup routine. That's a good way to get your ass handed to you. Dazz, show us what you're working with. Whats your method in general terms, automated? Hands On? Technical? Fundamental? What trading website features and tools do you like for that?
I look for trade consistency; for example Trade for Greatness: I observe the soverign effect that time has on trade performance: I look for 100% trade transparency and a detailed forthright and truthful track record of a such trades- either humans or robots. And I look for a net profit of >$50K per year normalized to 3 contracts per trade. I ignore any room or site that cannot deliver, you?