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Do you use news services while trading?
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Do you use news services while trading?

  #31 (permalink)
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Quoting 
"Who's guessing? Again, it's the market's response to policy, economic data, etc. that is important to me."

Well to me, I'm never sure if it's because the data was stronger than expected, or some new event I'm just about to get on my feed, or if it's just a bit of noise, or a 100 other reasons. I don't like attributing news to movement for this case. I'm not saying it can't be done, it's just not something I'd be comfortable with.


Quoting 
"There are about 20 to 30 analysts, or so, for any given news outlet who will give an estimate. The median (or I suppose mean) number is determined to be the consensus. It may vary slightly from one news outlet to another, but rarely much at all. For example, this Friday's Michigan CS number is given by bloomberg as a range of 74.0 to 78.6, with a consensus of 76.2, and FF's calendar has 76.2 as a consensus. Very similar in general this way. As for interpretation, yes, many different ways. But this would only matter if you were trading based off of the number itself."

I know how it's done, what I was trying to say, is that some analysts are better respected by different people. Obviously the most important analysts are those most respected by the people who trade the largest positions. I don't know which analysts are important. If the big guys are impressed by an analyst who's on the outlier of the group, and they're expecting his estimate to be right, then the news could be bang on median expectations, but they still have to adjust a lot.


Quoting 
"For most major data, the market will only really be concerned with it, not any minor events at the time. For NFP it is fairly simple: how many jobs were created, and the unemployment rate, and lately anyway, how that rate is affected by discouraged worker count. At any rate, I reiterate that the important thing is how the market responds to this."

I was mainly thinking of the times when multiple comments are coming out. One example is USD/CAD, some unemployment data comes out for both of them at the same time. I mean if you're waiting a few minutes to get in, then I guess you can take account of both sets, but straight off the bat, is it loonie or greenback traders moving it. My experience at firms is that people trade the individual numbers of NFP as and when they come out. If I'm at home watching my screen and listening to my news feed. I'll see moves as I hear one number, but it's actually moving on another number which I haven't heard yet. If I take time for all the numbers to hit me, I'm not going to want to trade at that current price generally.


Quoting 
"I wanted to mention this in my last post but did not because I don't want you to think I'm talking about you here, but I do agree: many people simply are lazy and want to look only at charts. I respect that point of view, that the market is all represented in the chart, and I used to be the same way. But the landscape of the market is shaped by more than a chart. It is comprised of social, political, and economic factors, and having the market in the context of this background is a powerful combination that can give us a big picture view of things that a chart alone simply cannot provide, IMO.

I'm certainly not trying to change your style or that of others, but simply to clear up some possible misunderstandings of why news is ultimately so important to some of us. I used to think it was completely a waste of time, and I had misconceptions, and wanted to offer a perspective of someone who has shifted his thinking in this respect."

Oh I agree. I'm also not trying to say people shouldn't watch it, I was just hoping to maybe show how one can trade without it and be content as you seemed to be shocked.

At the end of the day, there are such a vast array of ways to trade, I know one trader who seems to just be able to take on more and more knowledge and understands and looks at gann, elliot wave, fibs, harmonics etc. Personally, that's too much, I've hit a level where I am content with my returns, unless they fall off I don't feel the need to try to improve at a fast rate.

P.S. Don't worry about possibly slighting me. I believe a big part of trading is accepting you're far from perfect, that's why you can't hit every move.

"The man they had got now was a jolly, light-hearted, thick-headed sort of a chap, with about as much sensitiveness in him as there might be in a Newfoundland puppy. You might look daggers at him for an hour and he would not notice it, and it would not trouble him if he did."

P.P.S thought I posted this earlier but hasn't seemed to have popped up.

Dovie'andi se tovya sagain.
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  #32 (permalink)
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Sounds good Hotch, keep up the good work

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  #33 (permalink)
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problem with talking forex


Hi
From yesterday I cannot reach talking forex through zero hedge chrome is telling me that the link has a redirect loop(by the way yesterday I cleared history and cookies)
If somebody has the same problem or could help Thanks

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  #34 (permalink)
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I also have a link with a login code (not the zerohedge.talking... address), and it is not working today either.

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  #35 (permalink)
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Hi
@ThatManFromTexas you still having talking forex from zerohedge

From yesterday I cannot reach talking forex through zero hedge chrome is telling me that the link has a redirect loop(by the way yesterday I cleared history and cookies)
If somebody has the same problem or could help Thanks

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  #36 (permalink)
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rcabri View Post
Hi
@ThatManFromTexas you still having talking forex from zerohedge

From yesterday I cannot reach talking forex through zero hedge chrome is telling me that the link has a redirect loop(by the way yesterday I cleared history and cookies)
If somebody has the same problem or could help Thanks

I also have the same thing, when I click the talking Forex link which has been free for a while now, it asks to register for a membership. I assume the free service is over or something. I am considering joining it as the pricing seems pretty fair.

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  #37 (permalink)
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rcabri View Post
Hi
@ThatManFromTexas you still having talking forex from zerohedge

From yesterday I cannot reach talking forex through zero hedge chrome is telling me that the link has a redirect loop(by the way yesterday I cleared history and cookies)
If somebody has the same problem or could help Thanks

I keep forgetting to check. Sorry.

I'll try to remember to check tomorrow

I'm just a simple man trading a simple plan.

My daddy always said, "Every day above ground is a good day!"
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  #38 (permalink)
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I just look at TOS live market news and watch CNBC on TOS and Bloomberg on my TV.

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  #39 (permalink)
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I was comparing cnbc on tos n cnbc on cable, cnbc on tos is about 30s behind. for what it's worth

to me, market's reaction to the news is more important than the need for me to know the news . . . big boys need to part with their $ as a result of the news n I will try to take crumbs from them after the dust settles ... I am discretionary, day trade, CL, fdax, TF ...

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  #40 (permalink)
Tradertom2012
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Talking-Forex.com


I never miss any news announcements using Talking-Forex.com. I only trade ES Mini but find the Talking Forex service very good, timely and extremely cost efficient. I dont actually trade the news but i like to be aware of economic and other main news announcements as they happen. For their small monthly fee i highly recommend them. They also have a data flash plugin which is also very handy.

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