ok, thanks!
Sony
Sony
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What the heck is this ??
- Thread starter sonyericson
- Start date
Quote from inves200:
I know this whole trade the news scalping thing flies in the face of the reasoning of a seasoned trader.
It takes about a half hour to get set up, and minutes to half hour to trade. Then people can go have a life or a regular job. This style is designed for newbies, but could be a add on for other styles.
There are times that a news release starts 10-15 point moves too....
The whole trade the news scalping thing does NOT fliy in the face of the seasoned trader. Examining prior data and reactions to it is certainly the way to go. If done so correctly and with vigilance you can have more of a life and not a regular job, thank you.
http://www.youtube.com/watch?v=a9U_C_q6WcU&feature=related
Quote from buylo:
The whole trade the news scalping thing does NOT fliy in the face of the seasoned trader. Examining prior data and reactions to it is certainly the way to go. If done so correctly and with vigilance you can have more of a life and not a regular job, thank you.
http://www.youtube.com/watch?v=a9U_C_q6WcU&feature=related
How do you know what way the market will break prior to the release with any edge? furthermore the slippage and whipsaws( micro and maxi) at these times is high enough to counteract any psychic ability or good guesses.
I guess you could fade the move, but that would have nothing to do with the ultra fast news feed they are selling for $150 --value $500.00
sony
Looked to me like that was about a +1.50 scalp (long around 8.75, out @ 10.25) with 10 contracts. With a little homework on price reactions after specific data releases, you should be able to do this and much better on your own. Plus this was just ONE trade ... I would think they could've come up with a more spectacular example for advertising purposes.
Quote from buylo:
The whole trade the news scalping thing does NOT fliy in the face of the seasoned trader. Examining prior data and reactions to it is certainly the way to go. If done so correctly and with vigilance you can have more of a life and not a regular job, thank you.
http://www.youtube.com/watch?v=a9U_C_q6WcU&feature=related
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You must be more experienced than me... I always thought ya stayed OUT of the market durring a news release. All it took was one sudden 5 point stop out on the ES years ago to keep me glued to Yahoo economic calendar before loading up a trading platform.
Then again, thats only me....
Quote from sonyericson:
How do you know what way the market will break prior to the release with any edge? furthermore the slippage and whipsaws( micro and maxi) at these times is high enough to counteract any psychic ability or good guesses.
I guess you could fade the move, but that would have nothing to do with the ultra fast news feed they are selling for $150 --value $500.00
sony
On small lots, limit orders can be placed with 3 tick slippage that will usually get filled. Once in a while it can run straight past ya and ya never get filled.
As to the whipsaws, yes, those happen too. We do get stopped out once in a while.
I'm at the point where there is little else I can say without giving away for free the finer points of the system.
Quote from tomahawk:
Looked to me like that was about a +1.50 scalp (long around 8.75, out @ 10.25) with 10 contracts. With a little homework on price reactions after specific data releases, you should be able to do this and much better on your own. Plus this was just ONE trade ... I would think they could've come up with a more spectacular example for advertising purposes.
====
Our most conservative traders will generally try for 20-25% of an anticipated price move. Major announcements will often be predicted to have a 5-6 point price move, so taking only 1.25 to 1.5 points off the table helps get a relatively high winning percentage, keeps stop out low, etc.
You propably won't get filled on 1000 e mini's on each trade and end up owning the world in 3 years, but scalping 5-10 contracts for 1.0 point a couple of times a week (3-5 medium to high impact announcements) might be possible.
I will say the example trade is among the better trades... but, yes, some trades have been better. Most trades take more than the minute to be completed.
Quote from sonyericson:
How do you know what way the market will break prior to the release with any edge? furthermore the slippage and whipsaws( micro and maxi) at these times is high enough to counteract any psychic ability or good guesses.
I guess you could fade the move, but that would have nothing to do with the ultra fast news feed they are selling for $150 --value $500.00
sony
sony, just clarifying that trading economic news is certainly something that can be done.......just know your parameters and be well versed in what type of reaction to expect. Yes, usually someone has an edge with data release speed and it can certainly be leaked (hello Germany). It seems like what's being promoted is, "hey, just trade for minutes a day and then turn your machines off." Which I certainly don't agree with.
However, do not let this be the only way you trade. Shortcuts and gimmicks do not a trader make. I was trying to point out that if you put in the work and are a student of the markets, you don't have to have a "regular" job and trading can become your primary source of income. Just treat it as such, and not some type of On-demand slot machine that you can go to for extra income every time there is a news release.
Good trading.
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We have a limited crew here on Fridays but both Macey and I traded the 6:30 Med/Low CPI announcement today and I got half a point and Macey got a full point with a scale out. We both went long and it took a couple of minutes to fill but we got it. So for this week Macey pulled 4.58 total points with only two days of trading, I pulled 4.25 points with three days of trading. I'm happy with that and as always, look forward to next week for more trading opportunities.
We would like to thank those of you who attended our Social Forum yesterday afternoon. We had some great discussions and thoroughly enjoy hearing your successes and stories. Starting next Wednesday we will be hosting a live Trading Arcade for full Market Movers for the 6:30 hustle at our South Jordan office. If you are a full MMT Trader then you are invited to join us and other traders to actively trade that morning's first set of announcements. You will have to be at our building by 6:00 a.m. to join us so that you have plenty of time to set up and review the trades. And we will not be advising directions, projections, or anything of the sort. But we will be here to answer questions and to offer support as you trade. We believe that part of the reason we have experienced success is because there are typically 6 of us here every morning trading together. We're not trading the same, but somehow just knowing that there's someone else here who's experiencing the same feelings, or who may have an answer to a question, is very valuable. So once a week we will invite you to join us starting next Wednesday.
Please let me know if you have any questions. Otherwise, have a wonderful and safe weekend.
Amy
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We have a limited crew here on Fridays but both Macey and I traded the 6:30 Med/Low CPI announcement today and I got half a point and Macey got a full point with a scale out. We both went long and it took a couple of minutes to fill but we got it. So for this week Macey pulled 4.58 total points with only two days of trading, I pulled 4.25 points with three days of trading. I'm happy with that and as always, look forward to next week for more trading opportunities.
We would like to thank those of you who attended our Social Forum yesterday afternoon. We had some great discussions and thoroughly enjoy hearing your successes and stories. Starting next Wednesday we will be hosting a live Trading Arcade for full Market Movers for the 6:30 hustle at our South Jordan office. If you are a full MMT Trader then you are invited to join us and other traders to actively trade that morning's first set of announcements. You will have to be at our building by 6:00 a.m. to join us so that you have plenty of time to set up and review the trades. And we will not be advising directions, projections, or anything of the sort. But we will be here to answer questions and to offer support as you trade. We believe that part of the reason we have experienced success is because there are typically 6 of us here every morning trading together. We're not trading the same, but somehow just knowing that there's someone else here who's experiencing the same feelings, or who may have an answer to a question, is very valuable. So once a week we will invite you to join us starting next Wednesday.
Please let me know if you have any questions. Otherwise, have a wonderful and safe weekend.
Amy