Support and Resistance Trading Forum

Re: Reports
By:Chartsky
Date: 12/9/2010, 9:15 am
In Response To: Reports (Travis)

Hi Travis,

I track the most "important" Reports and by that I mean the ones that tend to move the markets I trade most.

Currencies and Stock Indexes and Crude Oil.

I put those on the bottom of the Daily Updates.

While I don't call trades at Report release times, I still trade some of them, but it's a very aggressive style.

Unless you have a specific system for trading reports, the best thing to do is make sure you have no open positions when they are released. And that's why I mention them . . . You don't want to be in a British Pound trade, for example, when major U.K Reports are released. Huge spikes are common and those spikes can go either way.

That turns what would otherwise be a good trade into a 50-50 gamble . . . and the Trading Room folks have heard me say many time that 50-50 gambles are not good for your Trading Account.

Chartsky

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