So far this blog has been about trading forex, but I have been trading news on any and all markets that show that they react for quite awhile now. This requires alot of research, and some markets move more than others. Why did forex get all the hype? Perhaps because there were so many bucketshops that could not keep up with the real market, the leverage was great too, so someone with a small amount of money and some autoclick software could multiply their money pretty fast. When alot if not most of the bucketshop forex brokers started closing the doors to the forex news trading, traders had to get more intelligent. I have been trading futures and even stocks on news releases for over 2 years now, and the time to start sharing this information is now...Watch this space for more info to come to help you on this journey.
This can be a nice little report, the only problem is the timing of it can vary somewhat. API Petroleum Inventory number can come out 30 seconds late or early depending. This can make it difficult to use the autoclick software from Fast Economic News to get in the spike trade. Instead you can use other strategies such as straddling the Crude Futures Market or waiting for the numbers to come out and if the deviation is big enough, just jumping in. Tonight we did get a big bullish deviation, the number came out much lower, indicating lower supply of Crude according to API...less supply = higher price...assuming demand is constant..I managed to get in about 18 tics from the pre-release price of 83.95 and rode it up for a quick 20 tics over the next minute or two. Here are the numbers:
*API PETROLEUM INVENTORIES: CRUDE: -4.1M V +1ME; GASOLINE: -3.2M V -500KE; DISTILLATE: -4.7M V -1ME; UTILIZATION: 81.2% V 83.9%E
Crude prices are their highs for the year. This number sets us up for the bigger and more important DOE Energy Numbers on Wednesday which is just before the all important FOMC.
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