The US and UK have very strict news lock in systems. Accredited news organisations are allowed into the room, their laptops and telephones are on but disconnected, they're then briefed by a statistician and at exactly 0830 or whenever they are ...

Why trying to get in before the spike will never work

Those moves are only free money with hindsight.

US PPI and Retail Sales at the same time!

That might be what sparked it but I think the technical failure at the higher levels was also important. If such a small thing causes such a big decline it seems unlikely the Euro or pound are going much higher.

US PPI and Retail Sales at the same time!

There are strict rules about the release of economic data so it should always be out at exactly the publicised time. Sometimes the market starts moving early because of rumours and stops being triggered but the data should always be released at ...

Why trying to get in before the spike will never work

FXopportunist, thanks for your kind (if somewhat patronising) response but I know very well what an ECN is. I think you may be getting confused between straight through processing (STP) which sends a customer's order directly to a bank and an ECN ...

Why trying to get in before the spike will never work

NewstraderFX when I was talking about the banks I meant the interbank market makers. They are the counterparty to your trade (unless you trade with a bucket shop) and they are the ones who automatically adjust prices. Otherwise, I agree with ...

Why trying to get in before the spike will never work

I pay for Reuters but you should be able to look through the individual articles on Reuters and Bloomberg to see their forecasts. I don't think there's just one page for it unless you pay.

Lets Trade The News V 0.2 !

Reuters consensus was 0.3 which is why the actual figure of 0.2 caused a big move down. You need to focus on either Reuters or Bloomberg consensus because that's what the big players use.

Lets Trade The News V 0.2 !

Well they automatically converted my live account I haven't used in a year to the NDD account. It has £3 left in it. I can't see Bear Stearns or JP Morgan accepting a £3 order.:

FXCM Discussion

Was that on a live account? Obviously it's impossible to accurately test STP with a demo account because the orders are never sent to banks.

FXCM Discussion

I just noticed that they only offer market orders to open a position. It would be total suicide to trade with them during economic releases - your market order would get slipped and there's no way of limiting this (unlike with IB or EFX or even ...

FXCM Discussion

Yes, can you expand on that a bit more. What messages were you getting? With true STP it should only ever take one attempt with a market order - although you may get slipped. And were you testing the live or demo?

FXCM Discussion

Central bank diversification talk usually leads to very short term currency movements. I recall similar announcements by Venezuela, Russia, China and middle eastern banks a while ago that sent the Euro up but this was very short lived.

One of the Most Important Articles You Will See

As the election outcome is not going to have any affect on interest rates it's not going to have any affect on the dollar (except maybe very temporary). I remember last year dailyfx saying that Kozumi's landslide win would help the yen, but it just ...

Reaction to the election.

With the rate hike already priced in it strikes me that the statement accompanying the decision may be of relevance. Here's the August statement: [/size] [/size] Notice the emphasis on high energy prices. With oil prices below $60, this week's ...

London Calling: The BoE Rate Decision

Isotonic you can get agricultural data with the free US data package.

Interactive Brokers - experiences and opinions

The central bank issues a statement to go with the decision so the direction of the currency depends more on the statement than the decision itself (unless they don't hike, in which case AUD would go down like crazy).

AUD: Interest rate decision

If you try to trade the news with Finspreads you will lose. Spread betting companies are even worse than retail forex brokers and Finspreads is the worst of the lot. Did you really think you could make money from a bookmaker?

Spreadbetting The Forex

A word of warning - IB's own TWS is completely unsuitable for forex trading e.g. you can't see profit and loss or open positions and the close position button does nothing (you just have to make an opposite order). You really need a decent front ...

Interactive Brokers - experiences and opinions