Brokers Revenge - Spikes

Zenda

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Beware of spikes - This shows how the markets can get you no matter what your thinking - for a day trader is it wide or close stops this occurred yesteday 2nd Feb 2007 :rolleyes:
 

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NotQuiteRandom said:
Cuts both ways. My cable straddles came up trumps. Took one leg out then the other.

Nice one provided limits not to greedy !
 
I am new to this forex trading but that does appear to be at the exact time that the Employment Situation Report is given.. Window was only 30 minutes.. hmmm.. I'll see you next First Friday at the same time. :)
 
RU12NVME51

It'll be the nfp numbers that done it. Every first friday regular as clockwork
 
Ok.. I'm catching on.. This is almost like driving a boat.. I could definitely make a career out of this.. :)
 
The NFP is always good for some vol and always bad for my statistical models...

As it is 'expected' vol however it is easy to factor in so no one with any common sense has stops within 150 points of the money at 1.29pm on the given Friday.
 
Daily ranges on NFP days

Here is a link to charts showing the daily ranges for the majors on Non-Farm Payroll days since 2001.

As a matter of interest, it took a little bit of effort to ensure that the correct Fridays were selected each month, viz. the third Friday following the reference week of the 12th day of the preceding month.
 
No

RU12NVME51 said:
Can we expect similar performance with the TIC on the 12th as well?


Not nearly the horsepower of NFP. Having said that, the market has gotten considerably more stable, i.e, , NFP spiking for 200 in a matter of minutes in years past.

Try this when event trading: Do not enter the market any earlier than E +15. Give market time to digest data and settle in. Somewhere in the 15 - 30 minute window after the event, a trend will/should be established.
 
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