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Not saying this is wrong, but that looks out for things like the stuff below. Are they really important things to watch out for, i.e. will it really make the price of oil to go up or down. Or is there any other types of news that is related to oil.
Those are the times to stay out. If the news is far away from the expected #'s it may be like to stand in a front of an incoming train. 1 or 2 minutes after the release should be a safer time to place a trade.
It could but maybe not in the direction you think.
Imagine good news comes out and the market moves up. So you buy right? Then the market closes down well off the highs for the day. The next day it goes lower. You stop out at a loss. Or worse you hold on hoping that it'll come back. What happened?
The professionals knew the news would be good and that the public would be buying (and other not-so-good professionals). So they accumulate ahead of time and when the news comes out they take advantage of the increased public buying to distribute their shares. As a result the market closes off the high and then as a result of lack of professional buying and increased professional selling the market goes down.
This is, in my opinion (we need more confirmation on Monday), what happened in the S&P 500 on Friday with the employment report.
I have found it best to trade off the charts and not the news. The charts will reflect what the professionals are doing. If one knows how to decipher them.
cunparis input above is a perfect sample of how the market works for swing traders.
If you are a scalper, you just try to take advantage of the fast moves that the news created and pick up the ticks right after the release. Since we (retail traders) do not know what will be the #s, to open a postion before the news will be a pure gamble on our part. To see the market reaction after the news and to act upon it is out job.
I've noticed a pattern here and I'd like to get some input. For 3 days now, i've been positive between 9-9:30 and then after the stock market open CL gets choppy and I've lost everything and ended up negative.
If this continues then i'll just trade 9-9:30 but I figure it'd be better to figure out how to filter out trades during the chop.