Trading News Events

[The_One]

Hi Guys,
I am starting off in trading News events, I had few concerns and I was wondering if someone can help me.

1. Is there any platform / Plugin that automates the process, as in the puts the trade (Buy/sell) on the system on the basis of news event results. For ex if the consensus for US home sales is 850K,but if the actual comes out to be 900k then I want the software to put the Sell trade for me for EUR/USD.

2. Has anyone tried Level II Forex for news events?

3. Is anyone out there who had major success with trading news events?

Any help is highly appreciated.

Regards
The_One

 

[Trader333]

There is software that does this and I will send you a PM about it.


Paul

 

[c6ackp]

Be careful with this stuff - the boys on the inside will always have the upper hand - better to concentrate on regular trading setups... news will often generate excellent volatility, so it's best to trade the aftermath rather than attempting to trade the announcement.

Here are a couple of clips of a guy using an automated news system. -75 and -80 pips instant loss... he's not happy...

You have been warned!!!
c6

 

[Trader333]

...so it's best to trade the aftermath rather than attempting to trade the announcement.

I have to say that I don't agree with this at all. Just because some people cannot make money on news events does not mean that it is not possible.



Paul

 

[fxwinner22]

sure you can, the problem of course is that most people dont have an ecn direct to market - this means that to make money from the news spike your broker will lose as he cant get his orders in fast enough.

which means that once you reach a threshhold where you are causing your broker pain they will just stop you trading or requote you so much it becomes impossible.

Ok if you are direct to market but not many are.

you won't get rich with a method designed to screw the brokers - so my advice is find a method where you and your broker can both make a living safely rather than a 'screw you' system.

of course that means putting in some effort and work - something that these news spike traders are willing to pay through the nose to avoid.

all my opinion of course and i could easily be wrong - i often am.