Forex Signal (Tue July 20, 2010 9:00am EST NY Time) CA BOC Overnight Rate Decision

[musandpix]

Good Team

Just some positive observations:

For a year I was spending a considerable amount of money on signal-calling services while I "learned the ropes" of basic currency trading. It was expensive, and as anyone who's subscribed before knows - there is no guaranty of success. As in, you could be paying a steep quarterly fee,
and still lose on signals which weren't accurate.

Between the ideas provided here at FPA - from Mr. Liu, Mr. Morten, Crazy Kat,
et. al., I've managed to do so much better trading "on my own", so to speak...One of the major differences I've found now that I no longer subscribe to the signals, is that I've got to do more of the work myself, and as such learn more about what the hell I'm doing...combine that with some of the very talented folks we're being advised by (as mentioned above), and you've got the ingredients for success. Over the last two months I've turned my trading around, thanks to these very talented and generous contributors, and I now find myself doing something I was paying others to do for me: the hard work of researching my trades. Somewhere in these pages I read that we each have our own 'style' of trading, and once we find out what we're most comfortable with - we can succeed...

For a while there, I just couldn't make a winning trade, so I stopped what I was doing - and listened. Then slowly developed a 'plan' with which I was comfortable, and which applied the disciplines we read about in these pages...

Thanks FPA for being here. And thanks to Victor for getting the ball rolling. Thanks to Mr. Hui, Mr. Morten and the others who are generously sharing their experience and perspectives - I feel lucky to be a part of this group.

Maybe the best things in life ARE free...

DA

 

[onenikos]

Old Dog

They say "you cannot teach an old dog new tricks". In your case and mine I must confess that you are turning me on to news trading - something not only I did not do before, but fully avoided trading during... The reason is your approach. Please scratch one more line on your wall for those you converted.
With much appreciation and respect.
PS Some brokers are subscribing themselves to the "expensive" news services and provide it to their clients.

 

[West Coast Pips]

Hmm I don't know how you can assume my intentions by looking at my answers. SNW does not provide audio service, no commentaries, no analysis. It can't even be considered as a newswire. I would never recommend that for beginner traders. Traders who are experienced and know what to do with information from SNW are different stories.

Compared to Bloomberg, Tradethenews, Reuters, and even Ransquawk, the ability to do your researches, previews on news releases, consensus ranges, and some dealer chatter information are just priceless... don't ever settle for something less, unless you know what to do with SNW and you have experience with it before...

That being said, proper use of SNW may help you make money. But I will not recommend something that I am not currently using or have used before.


Henry

Hi everyone

I have been using SNW for about 4 years. I have been spike trading the news for at least 5 years. I would call myself a professional news trader. SNW is the best tool out on the market to help you spike trade the news. Don't get me wrong, spike trading the news is volatile to say the least and you have to find a broker that will fill you. You must do your own due diligence finding the right broker for you to spike trade. People are going to be reluctant to tell you their secrets though. You will simply have to go forth by trial and error. I have made money and lost money spike trading.

You can certainly spike the news if you are a newbie, but TAKE CARE. Do many demo trades first and get to know how the market moves to certain news releases. Make sure you have a good understanding of news releases in general also. Everyone needs to start somewhere. There are other software on the market to help you spike trade, though I would not hesitate to say that SNW is the best. Good luck!

 

[Crazy Cat]

Hmm I don't know how you can assume my intentions by looking at my answers. SNW does not provide audio service, no commentaries, no analysis. It can't even be considered as a newswire. I would never recommend that for beginner traders. Traders who are experienced and know what to do with information from SNW are different stories.

Compared to Bloomberg, Tradethenews, Reuters, and even Ransquawk, the ability to do your researches, previews on news releases, consensus ranges, and some dealer chatter information are just priceless... don't ever settle for something less, unless you know what to do with SNW and you have experience with it before...

That being said, proper use of SNW may help you make money. But I will not recommend something that I am not currently using or have used before.


Henry

Well, I think making money with the SNW software is actually the easiest way out of all other options. The only real homework that needs to be done is to find a good broker. Some SNW users simply use that tool with many brokers and set up several computers. Yes, it takes a while to set up everything but once a while they get a really nice trade which pays off their effort.

Since SNW provide triggers, in fact they even autoload it, you don't have to know anything marketwise to trade with SNW so it is actually the best way for new people to start trading the news.

I cannot imagine how new people can trade using Bloomberg or TTN because not only it takes time to analyze the data (and the spike is already over), but in case of speeches it also requires a great deal of knowledge of the market to evaluate the speech (and unless you hold higher education in finances, you cannot really understand that - especially if you are new). I personally never traded speeches and I will never trade them - despite of the fact I have many years of news trading experience and soon I will have BA degree in accounting and be ready to sit for CPA exam.

SNW is all what I need, instant numbers and the autoclick.

Thanks,
Crazy Cat

 

[dan cwik]

Well, I think making money with the SNW software is actually the easiest way out of all other options. The only real homework that needs to be done is to find a good broker. Some SNW users simply use that tool with many brokers and set up several computers. Yes, it takes a while to set up everything but once a while they get a really nice trade which pays off their effort.

Since SNW provide triggers, in fact they even autoload it, you don't have to know anything marketwise to trade with SNW so it is actually the best way for new people to start trading the news.

I cannot imagine how new people can trade using Bloomberg or TTN because not only it takes time to analyze the data (and the spike is already over), but in case of speeches it also requires a great deal of knowledge of the market to evaluate the speech (and unless you hold higher education in finances, you cannot really understand that - especially if you are new). I personally never traded speeches and I will never trade them - despite of the fact I have many years of news trading experience and soon I will have BA degree in accounting and be ready to sit for CPA exam.

SNW is all what I need, instant numbers and the autoclick.

Thanks,
Crazy Cat

Good answer CC, you are already being missed here. Your're the man. Best to you.

 

[johntop]

You can try tradethenews.com or ransquawk.com, both provide comparable release time. Of course if you want to go with the more expensive option, Bloomberg and Reuters are also available.

Thanks Henry; useful information.
Also, I like your detailed analysis and thoughts around news releases.
Crazy Cat was good, but I prefer your style.

 

[raa]

Great detailed analysis, love your style! Best regards!
PS: what trading do you advise: initial spike or after-spike retracement like Crazy Cat was teaching?

 

[MidnightRun]

Cat,
Could I get your contact info (a few days ago you emailed me a reminder about the trading room, which I accidentally deleted).
Thanks
marty.mg@rogers.com

 

[Cancer0s]

I've got one question normaly when news release for example is 14.30. How much time do we get with SNW it's one, half second? or even less? I talked about pro version ofc. I've tried many brokers for use spike trading (setting pending orders by EA). I could not find broker who do not have a slippage but using SNW could solve that thanks to the time we get the numbers?

If someone could help me with this solution I could share with Timing Trader system.

 

[pipstatic]

can someone plz explain what happened? at 9am this news realease came on, USD/CAD went up 30+ pips....why? why buy the USD when the release was good for CAD.
but at 2hours later it sunk to 120pips.....