Make Easy Pips With Economic Calendar

[et_phonehome_2]

Scorpion

The Price Range [in PIPs], is that an average over a period of time? It would be nice if we can see the min and max PIPs

[scorpion]

not average but highest price - lowest price for the next 2 hours, starting from when news released.

So if price range = 80 pips, and the price at news release is 1.2000. The highest price for the next 2 hours is 1.2080, and lowest is 1.1920.

[bearpaw]

Scorpion...this is great....really interested to see how it works out. please keep on teaching us if you find out something new about this fundamental system of trading.

BP

[rococo]

Thanks a lot, Scorpion. Looks very interesting.

[jimboy]

Do you track record for other news/event like customer confidence, jobless claim, etc?
Thanks

[Drivefast]

Scorpion

My question is. What do you do when there is no forcast? Do you place a stratle entery on whatever the price is at 30min before the anouncment or just not trade that one?

I am going to try this system and track them on Excel with the hope of comming up with a tighter stop using statistics. Also maybe improve on exit targets.

Your results are great.

Thanks Scorpion.

[rococo]

Great job, Scorpion.

I think it will be a great addition to the calendar to display the current time in order to see if any changes in time zone are correctly displayed.

[rococo]

I was wondering what would be the choice when we have two announcements of the same magnitude at the same time but in opposite directions.

Like in 03/29/2007

08:30 USD Jobless Claims
direction:down
volatility:medium
price range:50 pips

08:30 USD GDP
direction:up
volatility:medium
price range:50 pips

What if we have two at the same time in the same direction? Do they add up?

What if they don't have a direction?

Thank you in advance!!!

[nickbilak]

toss a coin and choose some direction
but i think prediction is wrong for both announcements.
more jobless claims should be bad for dollar.
and better GDP should be good for dollar.

[scorpion]

nickbilak, it doesn't work that way. Better or worse doesn't matter, for most indicators. What matter is if the number comes out as expected or unexpected. Because big dogs have anticipated the news through analysis. If actual number is opposite, they'll reverse their positions at once.

rococo, if there're two or more conflicting predictions of same magnitude, we don't trade. They don't add up, because one of them overshadows the others--the market decides that. If one is HIGH and another is MEDIUM, then go with HIGH.