Tradethenews.com what do you think>

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lev1910

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Hello Trading guru's.

THis is my first post on this forum so please bear with me. I hate long winded intro's to anything so I'll try and encapsulate everything I know so far about this trading malarky.

1) Got mailshot from Biz Opp Company regarding new trading strategy called Foolproof Forex trading written by a woman called Louise Woof back in jne/July 2007..
2) Coughed up the £247 for it.Received the manual and related software calculator.
3)Studied it and grasped her trading concept.
4) Opened up a CapitalSpread Account with £500.
5) Sat glued to the screen for next 3 weeks 7am-5pm Mon to Friday utilising her plan.
6) after 3 weeks was down to only £200 and got really Fecking hacked off with it and stopped.
7) Sent the manual back for refund.
8) Came across a live newsfeed forex Company Called tradethenews.com.
9) Downloaded the free trial software.
10) Couldn't get the live newsfeeds.
11) My Laptop then got the blue screen off death and Cost me 50 Quid to get fixed.
12) Decided I'd had enough of this trading malarky.
13) Went out into the daylight Again.
14) Remembered that the Sun felt Good and how attractive beer and women were.
15) Got bored with Sun Stroke, cirrhosis of the liver and Getting STD'S off of women who were attractive at the time but when I sobered up weren't.
16) Thought I'd try trading again as its healthier to lose a little money you don't really need than to lose your life.
17) Came across this great site.
17) Want to try tradethenews.com again but worried my laptop will get the BSOD again.
18) Want to know if any of you good people have tried tradethenews.com (the forex option) and what you think of it.
19) If I get any positive feedback I'll might risk the Bloody BSOD again!!.........

........and that's it! (Bloody hell,I need a beer)
Anyway cheers guys. Any Response would be greatly appreciated.
 
How does this work ? Is is an automated signal generating service ?
Also how much does it cost per month to use ?


Paul
 
trade the news

It cost about $40 a month for the text service and alot more for the live voice feeds. Basically you go long or short depending on what they tell you. ie you have to surmise there may be price movement once they've mad an announcement based on the economic indicators they give you.....or something like that! just wondered if anyone else has tried it but based on the deafening silence I take it nobody has!
 
Any text service will be too late to be able to take and consistently profit from a news trade. How much is the voice system ?

The reason I ask is that I do know of another service which is not cheap but will automatically place your trade for you as soon as news is announced if the conditions for taking the trade are confirmed. It is as fast as you can get but to be honest I am able to take news trades quite profitably without using any of these services. Primarily I am a long term trend trader now days but I do take news trades when I deem they are worth taking.


Paul
 
Hi lev1910,

I have seen somewhere on the net (can't remember where) a video of someone with a cable 5 min chart and waiting for the announcement which one could hear. The figures came out and they belted out those figures to their audience, NFP from memory. It may have been tradethenews.com, but I am not sure. You looked like you had to be pretty quick to place your order as the price had already shifted off 30+ pips in one direction, only to reverse in the other, of course!
The problem with trading the news is getting your order filled and filled again if you are getting out quickly. I personally would not do this with spreadbetting firms for all the reasons described on this site, however their reason given is that they cannot hedge your position easily. Trading the news is not for the faint-hearted! Good Luck!
 
Tradethenews.com

Hi Guys,

Well the live voice feed service is $175 a month so I'm a bit reticent to join up with this at that price, Just out of interest paul what is the service you talk about (which isn't cheap) that places your trades for you and also you say you trade the news quite profitably yourself with out any other service. Where do you get the news from...Dailyfx.com??
 
lev1910,

I use TTN. I think you got the wrong idea about the service. It is just a news service and makes no trading calls. What it does is provide you with news incredibly fast. A lot of the time, you can put on a trade before the market moves if you want to trade the news. In addition, they release chatter, rumour and all sorts of things said by all sorts of people. If some Chinese Central bank advisor says something, you can be sure they will tell you pretty much before anyone else.

What I like about TTN in mostly they just give you the news. Namely 'x said this, y central bank did this, etc'. They impress me because they don't try to tell you everything Bernanke said or anything like that. They must have some pretty sharp people there because they are very good at extracting the relevant bit.

Here are some examples I see right now

'Japanese equity outlook: Foreigners place net sell order for 18.2 M Japanese shares before the start of trade'

'PBoC governer Zhou: Says that Subrime had a limited impact on China; Says that Chinese exports to the US will slow'

'Asian Central Bank Operations for 11/22: RBA injects A$2.53....'

That is basically what they do. You still have to know what to do with the info. Otherwise it is useless. Unless you are a very good analyst, getting the information, assimilating it and acting fast it is professional job. The way I do it is: decide before hand what to do under different scenarios. If the numbers are much better or worse than expected, I know what I would do before hand. TTN is then very useful because I just read the release, which comes up on my screen in a couple of seconds and click buy or sell. It can be counter productive for a new trader to use this service though.

All the best.
 
Thanks

Thanks for that great piece of info fxscalper. Would you say the end justifies the means? ie do you make greater gains than the monthly cost of $175??
 
lev1910 said:
Thanks for that great piece of info fxscalper. Would you say the end justifies the means? ie do you make greater gains than the monthly cost of $175??
Click to expand...

Making more than $175 a month from it? That is a tough question!:) That is like eight pips with a standard lot (in £).

However, I am sure a novice will not make make any money because of TTN. In fact, unless that novice is exceptionally gifted, he will probably lose because of it. Being on top of news releases can be a huge advantage if you know what you are doing, but a disadvantage if you don't. It is like trading in general: 'it is easy when you know how'.
 
FXSCALPER2 said:
lev1910,

I use TTN. I think you got the wrong idea about the service. It is just a news service and makes no trading calls. What it does is provide you with news incredibly fast. A lot of the time, you can put on a trade before the market moves if you want to trade the news. In addition, they release chatter, rumour and all sorts of things said by all sorts of people. If some Chinese Central bank advisor says something, you can be sure they will tell you pretty much before anyone else.

What I like about TTN in mostly they just give you the news. Namely 'x said this, y central bank did this, etc'. They impress me because they don't try to tell you everything Bernanke said or anything like that. They must have some pretty sharp people there because they are very good at extracting the relevant bit.

Here are some examples I see right now

'Japanese equity outlook: Foreigners place net sell order for 18.2 M Japanese shares before the start of trade'

'PBoC governer Zhou: Says that Subrime had a limited impact on China; Says that Chinese exports to the US will slow'

'Asian Central Bank Operations for 11/22: RBA injects A$2.53....'

That is basically what they do. You still have to know what to do with the info. Otherwise it is useless. Unless you are a very good analyst, getting the information, assimilating it and acting fast it is professional job. The way I do it is: decide before hand what to do under different scenarios. If the numbers are much better or worse than expected, I know what I would do before hand. TTN is then very useful because I just read the release, which comes up on my screen in a couple of seconds and click buy or sell. It can be counter productive for a new trader to use this service though.

All the best.
Click to expand...


Used them as well, a good service, worth the money IMHO. (y)
 
liam1om said:
But whats the difference between them and Bloomberg radio, except that Bloomberg is free?
Click to expand...

Experienced people give you exactly what you need as a trader, not 10k news lines within 10 secs and they give you rumors :)
 
DaxDestroyer and FXSCALPER2,

If you both trade news then do you mind saying which broker you use ?


Paul
 
Hello Trader333

Have you used the secretnewsweapon for trading or do you know someone who has? It sounds a little to easy which makes me more than suspicious.....thank you for taking time to respond......anyone else out there who has some info let me know too........Ken
 
Yes I have, I don't use it now because I don't feel I need to but it is quite good. You can get a trial and money back guarantee so noting to lose.


Paul
 
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