Baruch's Forex System Journal
- Thread starter Baruch
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Hi Sci,
I don't know if it's illegal - but it should be. I have no link to MNI. I get MNI (very good), Dow Jones and AFX newsfeed in my trading platform.
I read some days ago (can't remember where) that the brokers always starts the day hunting the stops south and north. After this "broker-range", we get the real trading. So we should place our stops below or higher this "broker-range".
That's probably what I'll do, but for the time frame I'm trading right now, I really don't think the fundamentals mean anything. I think the only time they come into play is when something unexpected happens, or a report comes out with unexpected results.
Once I start trading the longer term, I'll probably devote more time to studying the fundamentals, but who knows for sure.
7.00 GMT SPAIN: March Industrial Orders
7.30 GMT ITALY: March Industrial Orders and Business Confidence.
8.30 GMT UK: Retail Sales.
12.30 GMT US: Jobless Claims. Consensus: 330.000. Prior: 331.000
14.00 GMT US: Leading Indicators. Consesus: 0.2. Prior: 0.3.
16.00 GMT US: Philadelphia Fed. Consensus: 30,5. Prior: 32,5.
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Important US data. Good numbers - also in the employed index from Phi. Fed - could mean bigger job growth. Also wacth the stock markets (Germany closed) , oil prices and Iraq.
7.30 GMT ITALY: March Industrial Orders and Business Confidence.
8.30 GMT UK: Retail Sales.
12.30 GMT US: Jobless Claims. Consensus: 330.000. Prior: 331.000
14.00 GMT US: Leading Indicators. Consesus: 0.2. Prior: 0.3.
16.00 GMT US: Philadelphia Fed. Consensus: 30,5. Prior: 32,5.
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Important US data. Good numbers - also in the employed index from Phi. Fed - could mean bigger job growth. Also wacth the stock markets (Germany closed) , oil prices and Iraq.
True. While this happens in any world market, American brokers call the opening hour "amateur hour", because it's mostly about spanning and taking the large liquidity sitting at levels, shaking out all the overnight read-old-news-in-newspaper-and-placed-order-overnight clients. Brokers and day traders know this just too well, so they fade the hell out of it to fry the overnight piggybackers. And then of course there's the NYSE specialists getting their angle in the open as well. But that's another story...
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