This is the second article in the mainstream financial press to mention automated news trading. It only touches this but I did enjoy the part about analysing speeches to make trade.
http://www.reuters.com/article/reutersEdge/idUSN0329446620070404?src=DAI
Thursday, April 05, 2007
Wednesday, April 04, 2007
Austrailian Interest Rate Decision - 3rd April 2007 - guarenteed!
New week, new month, first big trade of the month...good to earn more than enough to live for the whole month in 30 minutes. It is also a big relief since I overslept on Sunday night April 1st and missed a big trade on Austrailian Retails sales.
On alot of interest rate decisions, you can only safely trade one side...ie if they are not expected to raise rates and they do...as the BOE did in the UK in January. However this one was diffferent, the figures were pointing to a rise, opinion was split 50/50 so there was a trade if they didn't raise as well. This is what happened the AUDUSD drop 50 pips instantly.
My mystery broker filled me very well, I was short at 0.8118, my account blipped up a couple of grand. I also got a good fill with my spreadbetting broker, I got in short @ 0.8115 with £10 a pip. I was demoing this platform last week and am working up my bet size as the account increases. This was my biggest win on this platform so far. I got another guy to trade my oanda account, it find to simulateously trade too many brokers is dangerous if there is a conflict or revision. Oanda gave terrible fills, luckily the move was big enough to still get out with some profit.
here is the oanda chart for comparision
Saturday, March 31, 2007
Chicago PMI - 30th March 2007 - Crumbs
A small move combined with a bit of a slip. It turns out that Oanda filled better than my other platforms, this is very rare. Once in awhile Oanda just gives an incredible fill, the majority of the time they practice daylight robbery with their spread widening during the news.
I managed to get out with a couple of pips...the market was volitile and the spreadbetting platform changed the price when I exited, so I lost a little bit. Soon after a tape bomb hit the market about a possible us sanction against china, and the GBPUSD moved up. Charts are below, you can see how small the move was compared to the tape bomb that hit soon after.
This indicator is created by surveying Purchase Managers in the Chicago area, which is a key manufacturing part of the USA. Click here for a link to more info about this economic indicator.
Anyhow the news was suppose to come out at 9:45 am EST but the number gets released to a special group of paid subscribers 3 minutes earlier, my service get the number from this group. The expected number was 49.5 and a deviation of +1.5 was the trigger to sell GBPUSD and -1.7 was the trigger to buy. The number was much higher at 61.5 and I sold...the market dropped about 10 pips and not much else, I waited for a reaction 3 minutes later from the main market...not much.
Anyhow the news was suppose to come out at 9:45 am EST but the number gets released to a special group of paid subscribers 3 minutes earlier, my service get the number from this group. The expected number was 49.5 and a deviation of +1.5 was the trigger to sell GBPUSD and -1.7 was the trigger to buy. The number was much higher at 61.5 and I sold...the market dropped about 10 pips and not much else, I waited for a reaction 3 minutes later from the main market...not much.
I managed to get out with a couple of pips...the market was volitile and the spreadbetting platform changed the price when I exited, so I lost a little bit. Soon after a tape bomb hit the market about a possible us sanction against china, and the GBPUSD moved up. Charts are below, you can see how small the move was compared to the tape bomb that hit soon after.
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