Anyone Have Focus on Trading Unexpected News + Scheduled Data Only (like Me)?

Seems the vast majority of traders are busy studying market profile, price action, traditional technical analysis, order flow etc.
Nothing wrong with that at all and I know there are guys out there making big money with some or all of the above.

But my focus right now is on trading unexpected news events (using Squawk boxes + CNBC if there’s a live speech), and potentially scheduled data releases if I think there’s a good play afoot.

Basically, I sit at my desk from EU pre-cash and there I remain until EU cash-close / US cash-close if I have nothing better to do.

I have a screen of ladders + time and sales, and a bunch of a low-timeframe charts on the other. Screen #3 I use to browse various market-relevant news stories, the Daily Mail and The Chive throughout the sessions.

6A: In case PBOC does something.
6B: In case BOE does something.
6J: In case BOJ does something / Godzilla proves to be real.
6E: In case something semi-significant happens in EU or US.
ES: Just to keep myself in the loop.
CL: In case something happens in the Mid-East / Strategic reserves / Massive shocks.

I record absolutely everything, including the squawk. Yeah sure, Talking Forex isn’t the best feed money can buy, but it’s a decent service if you’re keeping overheads low.

I don’t stress about price action / order flow, so I don’t mind using Ninja Trader Free Edition to execute my trades.

Here’s an example to bring the thread to life. I have a few more but I haven’t gotten around to uploading them, and you get the gist of it. So far there hasn’t been any massive news, so nothing great to show… if only we’d had that Spanish bailout eh!

Any kindred spirits out there?

2012-10-06 07:31:18

Source: http://www.traderslaboratory.com/forums/showthread.php?t=14434&goto=newpost