Day Trading with Economic News and How they affect the markets we trade

Day Trading with Economic News and How they affect the markets we trade:

NonFarm Payrolls (the biggest, most important)

GDP:  always a disappointment

FOMC Day Announcement:  when they meet

FOMC Meeting Minutes:  they share the notes they took in that meeting.

Market Impact = US Dollar (HIGH)

Trade Gold & Currencies when the dollar moves after this type of news.

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Housing Starts

Construction Spending

Pending Home Sales

Housing Market Index
Existing Home Sales

Pending Home Sales
New Home Sales

S&P Case-Shiller Home Price Index

Market Impact = US Dollar (MEDIUM)

Markets You trade will be Gold and Currencies

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Chicago PMI (Purchasing Managers Index)
Producer Price Index (inflation)

Employment Cost Index

Market Impact = US Dollar (HIGHMEDIUM)

Markets You trade will be Gold and Currencies

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Import and Export Prices

Treasury International Capital / TIC Flow

International Trade

Market Impact = US Dollar (LOWMEDIUM)

Markets You trade will be Gold and Currencies

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(MY FAVORITES!)

Wholesale Trade Inventories
Industrial Production (Producing more/less products)

Factory Orders

Productivity & Costs Empire State Manufacturing Survey (Survey of manufacturing owners in NY State)

Philly Fed Survey (Philly manufacturing survey)

Durable Goods Orders (how many hard goods are we producing?

ISM Manufacturing Composite Index

Market Impact = Crude Oil & Natural Gas (HIGHMEDIUM)

Markets You trade will be Crude Oil & Natural Gas

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Retail Sales

Business Inventories
ISM Non-Manufacturing Index
Market Impact = US Dollar (LOWMEDIUM)

Markets You trade will be Gold and Currencies

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EIA Natural Gas Report

Crude Oil Inventories News
Market Impact = Crude & Nat Gas (very High)

Markets You trade will be Crude Oil and Nat Gas

I use manufacturing Index (Philly Fed, Empire State Fed) to form an opinion that I use to interpret the Wed 1030am Crude Oil Inventories.

If the manufacturing sector is slowing down, that tells me...

·         if inventories are lower, its not because of demand, its because of less supply

·         if inventories are higher its because of less demand.

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Jobless Claims

ADP Employment Report

Personal Income and Outlays
Consumer Confidence
Consumer Sentiment

Market Impact = US Dollar (MEDIUM/HIGH)

Markets You trade will be Gold and Currencies

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More topics today....

-Trend Channel Tool:  watch the video on the blog to learn how to use this.

-Using multiple timeframes for trading entries

this allows me to use the BIG PICTURE (slow charts) to find the best price areas to look for trades.  Then use the Faster Timeframe to look for the pattern and take the entry.

-Precise entries with faster timeframes

Big Money Indicator Up-date: mid-august when my team gets back from vacation.

-JJ-Momentum:  links together multiple timeframes and when its RED that means both timeframes are moving down, and when its green, it means both timeframes are moving higher.  We look for 2 different timeframe to confirm our entries when we have a marginal trade call.

If Momentum is conflicting, one up, one down, how do we view this?

-How to define market personality?

tough to define with specifics, but we know it when you see it.

speed, size, new highs/lows, or trading sideways?

-1 contract trading is completely different from 2 contract trading or more!

Watch the lesson in your advanced course, and watch the video on our blog.

We don't have multiple targets, and we can't split a contract in half.

-What is the most important tool for qualifying entry for your trades?

The most effective tool I use is SPEED. and a close second would be reading tape.