There are only a few news releases from the US this week, but there are several news releases from Europe and Asia. There are five high volatility news releases from the US, three high volatility news releases from Europe, and five high volatility news releases from Asia. Markets from all three regions will probably experience medium to significant volatility and price movement throughout this week.
The US, European, and Asian news releases for this week are as follows (all times are Greenwich Mean Time, which is two hours behind Central European Time, and four hours ahead of US Eastern Time) :
US
Europe
Asia
There are several news releases from all three regions (the US, Europe, and Asia) this week. The US and Asia have five high volatility news releases each, while Europe has four high volatility news releases. Markets from all three regions will probably experience significant volatility and price movement throughout this week.
The US, European, and Asian news releases for this week are as follows (all times are Greenwich Mean Time, which is one hour behind Central European Time, and five hours ahead of US Eastern Time) :
US
Europe
Asia
Economic Calendar With Volatility Expectations originally appeared on About.com Day Trading on Monday, July 26th, 2010 at 03:44:53.
'); document.write('Every Sunday (sometimes early Monday morning), I publish an economic calendar for the upcoming week. The economic calendar provides the news releases for three regions (the US, Europe, and Asia), the times that each news release will occur (in Greenwich Mean Time), and the expected volatility for each news release (either regular volatility or significant volatility). It might seem obvious what the economic calendar is for, but there are correct ways to use the calendar and there are incorrect ways to use the calendar, so I am going to clarify exactly how the economic calendar should be used.
The Incorrect Ways to Use the Calendar
The economic calendar should not be used to make any trades, and there are no exceptions to this. Many new traders (new traders, not news traders) try to trade news releases, but in doing so they are making a mistake. Individual traders do not have the resources available to be able to trade news releases, and therefore should not be making trades based upon news releases (and if you think that the so called real time news service that you just subscribed to is all that you need, you would be making another mistake).
The economic calendar should also not be used to avoid making any trades. In other words, if you did not make a trade that you would normally make because you noticed that a high volatility news release was about to happen, you would be using the economic calendar incorrectly. Many new traders believe that they should not have any active trades during news releases, but traders that either avoid making trades or exit already existing trades because of a news release are not trading correctly (and they are usually using the news release as the excuse for their not trading correctly).
The Correct Way to Use the Calendar
So, if the economic calendar should not be used to make any trades, and also not be used to avoid making any trades, what exactly is the economic calendar for? The economic calendar should be used to make yourself aware of the news releases that might cause some unexpected volatility.
For example, if you have an active trade that is still near its entry (or perhaps near its stop loss), and you notice that there is a news release about to happen, you can make an informed decision about managing your trade. For a regular news release, you might decide to do nothing, but for a high volatility news release, you might decide to temporarily increase your stop loss (to avoid your original stop loss being reached as a result of any unexpected volatility). The appropriate response to a news releases obviously depends upon the news release itself (its region and its expected volatility), and your trade (e.g. trades that are already well in profit usually do not need any additional management).
So, now that you know how to use the economic calendar correctly, the calendar for next week will be published tomorrow morning (Monday) ...
How to Use the Economic Calendar originally appeared on About.com Day Trading on Sunday, July 25th, 2010 at 04:25:40.
'); document.write('There are only a few news releases from the US and Asia this week, but there are several news releases from Europe. There are five high volatility news releases from the US, four high volatility news releases from Europe, and two high volatility news releases from Asia. Markets from all three regions will probably experience significant volatility and price movement throughout this week.
The US, European, and Asian news releases for this week are as follows (all times are Greenwich Mean Time, which is two hours behind Central European Time, and four hours ahead of US Eastern Time) :
US
Europe
Asia
There are several news releases from all three regions (the US, Europe, and Asia) this week. The US and Asia have five high volatility news releases each, while Europe has four high volatility news releases. Markets from all three regions will probably experience significant volatility and price movement throughout this week.
The US, European, and Asian news releases for this week are as follows (all times are Greenwich Mean Time, which is one hour behind Central European Time, and five hours ahead of US Eastern Time) :
US
Europe
Asia
Economic Calendar With Volatility Expectations originally appeared on About.com Day Trading on Monday, July 19th, 2010 at 03:52:34.
'); document.write('Over the past several weeks, I have provided descriptions and examples of the Japanese candlestick patterns (e.g. the bullish stick sandwich), and you should now be able to recognize the candlestick patterns on a chart, but how are the candlestick patterns actually traded? For example, if you recognize a bearish identical three crows on a chart, do you immediately enter a short trade?
No, you don\'t, because you don\'t have enough information to make a trade. The Japanese candlestick patterns provide an indication of the upcoming price movement, but the patterns do not provide specific trades. For example, a bullish candlestick pattern is an indication that there might be some subsequent bullish trading, but a bullish pattern does not provide a long trade.
The Japanese candlestick patterns should be used as a confirmation of a trade that you are already considering making, not as the reason for making a trade, and the distinction is very important. For example, if you were considering making a short trade on the EUR futures market (the Euro to USD futures market) at 1.2550 and a bearish candlestick pattern formed at 1.2550, then the pattern could be used as a confirmation of the trade, and you would be trading the candlestick patterns correctly, but if you were not considering making a short trade at 1.2550 until you noticed the candlestick pattern, then the pattern would be providing the trade (rather than confirming the trade), and you would be trading the candlestick patterns incorrectly.
Supporters (perhaps read as fanatics) of the Japanese candlestick patterns will disagree, and they will say that the candlestick patterns can provide trades, but they are wrong. Heed my advice, and use the Japanese candlestick patterns as a confirmation of your analysis (not as your only analysis), and you will then be trading the candlestick patterns like a professional trader.
Trading the Japanese Candlestick Patterns originally appeared on About.com Day Trading on Sunday, July 18th, 2010 at 04:30:47.
'); document.write('There are several news releases from each region this week (the US, Europe, and Asia). There are eleven high volatility news releases from the US, four high volatility news releases from Europe, and seven high volatility news releases from Asia. Markets from all three regions will probably experience their usual volatility and price movement throughout this week.
The US, European, and Asian news releases for this week are as follows (all times are Greenwich Mean Time, which is two hours behind Central European Time, and four hours ahead of US Eastern Time) :
US
Europe
Asia
There are several news releases from all three regions (the US, Europe, and Asia) this week. The US and Asia have five high volatility news releases each, while Europe has four high volatility news releases. Markets from all three regions will probably experience significant volatility and price movement throughout this week.
The US, European, and Asian news releases for this week are as follows (all times are Greenwich Mean Time, which is one hour behind Central European Time, and five hours ahead of US Eastern Time) :
US
Europe
Asia
Economic Calendar With Volatility Expectations originally appeared on About.com Day Trading on Sunday, July 11th, 2010 at 03:46:19.
'); document.write('Yesterday, I mentioned that I have something important to say, that could decide whether you have a successful trading career or not, but I made you wait until today to find out what the something important is, and there is a good reason for that.
Successful trading requires patience (and a lot of it). For many careers, the more work that is performed, and the quicker that the work is performed, the more successful the career will be, but this is not the case with trading. With trading, the only thing that matters is that the work is performed correctly, not how much work is performed, and not how quickly the work is performed.
Being impatient is one of the most common problems that new traders experience, partly because being patient is difficult (especially when a market is moving a lot, but you are not making any trades), and partly because appearing to be doing nothing runs counter to popular opinion about working harder equalling more success.
Professional traders are quite content to wait as long as necessary for their next trade, whereas new traders often have a hard time even waiting for a market to open (which is one of the reasons that new traders are often attracted to the currency markets, which trade almost non stop).
Being impatient (or performing more work if you want to disguise your impatience) will not help you make a profit, and it will usually cause you to miss out on profit. I saw a good example of this a few days ago, when two new traders joined my live trading service on the same day. I did not suggest any trades during the first day for these two new traders, and as a result one of the traders immediately left and never came back, whereas the other trader waited patiently, and came back the next day, during which I did suggest a trade, and the patient trader made '); document.write('