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I gotta a quick question regarding news. There is a list of news for the week and some are rated hot, red hot, and cold turkeys according to how much they affect the prices.
Do you follow these too
I ask this because at times the charts tell me to take the trade but I hesitate due to the impending news, then nada, it sits there and does as I had suspected and I eventually miss my entry. |
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We're aware of whats printing & when, for sure. The only time we'll give it the time of day is if it's a real grizzly item such as the key inflation data, interest rate news or those pesky, irritating payroll prints. And that's only if we're looking to get aboard a particular pair when the news item is due out of the tape.
Other than that, no we're not in the least bit interested in the data prints. But then, we don't do our business on micro timeframes, so it doesn't concern us so much.
We'll have orders waiting to fire off at certain junctions on route, & if the data compliments the current trend & picks up the order, then cool....if not & we have to wait a couple more days for a rogue print to work itself thru the pipes, then so be it. It rarely usurps the long range trend anyway.
Most of all that stuff is subject to revisions anyhow, so the actual print gets blurred in amongst the re-runs & revisions. It's the prior & post reaction to the news which spurs the fast money though, I think you'll find.
We're not by any means unique either. Most of the regular contacts we speak to are pretty ambivalent towards data releases. But then, they also operate via the longer range template.