Forex Signal (Thu, March 11, 16:45 EST) New Zealand Core Retail Sales m/m

[West Coast Pips]

Hi there

Go to this site to read about SNW: FastEconomicNews.com & this site to subscribe: FastEconomicNews.com. I have been using SNW for about 5 years I think and it is the best you can get out there.

 

[West Coast Pips]

I just wanted to add some more words for Felyzo.

SNW is NOT an EA. Read this site to learn more: FastEconomicNews.com. There is another news software programme out there called RSS. I have used RSS before a few times and will say I much prefer using SNW.

As far as using SNW to make a successful trade you will need to do a lot of your own homework researching and testing the many brokers that are out there. The bottom line is that people that trade the news (using SNW or not) are going to be very reluctant to share their secrets with you if they have come across a good broker that does fill them at news time. Just human nature.....

Get a trial subscription if you can to SNW and be ready to test it on demo platforms to see how it all works. Be cognizant of demo platforms NOT reflecting the same reaction to a live account; this is quite common. Once you have tested SNW with a demo platform be ready to open a live account with small funding. You are just going to have to get your feet wet and test, test, test. Hope this helps.

 

[West Coast Pips]

News numbers conflicting

Hi habrys

You bring up a good point about being able to use SNW to stay out of a potential trade if reports conflict. You also bring up a good example with AUD employment change & AUD unemployment numbers. Some time ago (certainly not recently) this actually happened to me when I traded this report when the numbers conflicted. The employment change came out very positive though the unemployment component came out positive too which resulted in a conflict (Remember a positive deviation of 0.2 in the unemployment number is a actually a negative or would be seen as a short on the aud/usd pair). I set up for employment change only. The spike was terrible and I got filled at the top of the very quick bullish spike and it then came crashing down giving me a bad loss.

As far as I know there is no counter measure currently available with SNW to prevent you from getting into such a trade. SNW make it very clear trading the news is not without risk and there simply will be times when you do lose money. I look at the broad scale of things. I have simply had to adjust my mentality to news trading, a long time ago, and tell myself there will be losses and gains. In the long run your balance sheet will be positive when trading the news with SNW providing you are picking the right trades with the right deviations.

Hope this helps!

It also cost me some nerves last month - trading NZ Retail Sales. Yes, it's correct, NZ Core Retail Sales was released a few seconds after regular Retail Sales to SNW and the market started already moving in reaction to the first report. I didn't lose, actually made 11 pips even, but I guess I was just lucky. My broker filled me in the right moment and then I closed immediately, but that's just like gambling.

Do you know any autoclick software, which allows to define dependencies among news releases (at least these, which are published at the same time)? Like "get the first NZ Retail Sales release to trade". Or "stay out if AU Employment Change conflicts with AU Unemployment"? This would be handy...

And one more question. You said you use SNW since several years. Does it work for you well? How many pips are you able to make a week? I started in January and was pretty successful in January and February, but March is worse so far. No losses, but profits much lower, than before...

 

[West Coast Pips]

Post analysis of NZ Retail Sales release

Well I am glad I did not waste too much time and effort trading this release that just came out. I have made a firm decision not to trade this release ever again.

The forecast for the headline number was 0.5. The forecast for core number was 0.7. A few seconds after 4.45pm EST the headline number came out deviating by +0.3. The market had a tiny reaction to this trying to make a long move on nzd/usd. Then, as seems to be very typical fashion now, the core number came out a few seconds after headline came out. On top of that core conflicted with headline yet again (deviating by -0.4)! This has resulted in a small short move for nzd/usd. To add more confusion to the release the previous headline number was downwardly revised causing further conflict.

I am sure most of you kept your triggers safe, but this proves this release is dangerous to trade as there is often conflict between headline and core. Not only that the core number comes out seconds after the headline does. Good reason to stay away from this report.

 

[West Coast Pips]

What broker are you using?

Hi there

Can you share with me the broker you are using to get filled for your 11 pips profit please? I use FXCM UK and they are terrible for trading the news with.

Thanks

It also cost me some nerves last month - trading NZ Retail Sales. Yes, it's correct, NZ Core Retail Sales was released a few seconds after regular Retail Sales to SNW and the market started already moving in reaction to the first report. I didn't lose, actually made 11 pips even, but I guess I was just lucky. My broker filled me in the right moment and then I closed immediately, but that's just like gambling.

Do you know any autoclick software, which allows to define dependencies among news releases (at least these, which are published at the same time)? Like "get the first NZ Retail Sales release to trade". Or "stay out if AU Employment Change conflicts with AU Unemployment"? This would be handy...

And one more question. You said you use SNW since several years. Does it work for you well? How many pips are you able to make a week? I started in January and was pretty successful in January and February, but March is worse so far. No losses, but profits much lower, than before...

 

[DCFX10]

Hi there

Can you share with me the broker you are using to get filled for your 11 pips profit please? I use FXCM UK and they are terrible for trading the news with.

Thanks

West Coast Pips,
Most people don't share that information here because they say that it goes against their own interest and most traders work alone. Several times it was recommended to research and test brokers with other few traders.
I have a closed forum for this purpose. I have a list with 15 one-click execution brokers, we work as a team, divide responsabilities and test them weekly, then we share the performance within our group.
I look for serious traders that can work in a team and contribute to this forum with weekly performance.
The goal of this forum is to create a long-term team and we have 3 openings now, if you want to get more information get in touch with me. Same user name @ gmail