What is the latest this section is usually is updated? I logged in this morning and noticed the pieces below were listed but not at 9pm eastern time last night.
4 am - 7 am EST News Straddle/Strangle 8:30 am - 10 am EST 90 Minutes Before News 9 am - 10 am EST 60 Minutes Before News 9:30 am - 10 am EST 30 Minutes Before News
Thanks Again
I usually update it for Monday the previous week - at the latest i will update it around 2 am on Monday if there are 4:30 GBP announcements though this is rare.
then on Tuesday i usually update the rest of the week
Little confused on this one. What time is the news released and how early should we enter? Also, if we’re using the 11pm expiration’s why is the timeline from 7:30PM -3:30AM Thanks
[COLOR="#FF0000"]Retail Sales AUD
7:30 PM - 3:30 AM Jan 8, 2014 (Apex Iron Butterfly Into The News) AUD/USD and AUD/JPY usually moves about 40 pips high to low. Check out potential iron butterflies or iron condors on spreads for a range bound trade using 11 PM expirations. Entering before the news. Average move 2 hours before the report is about 25-30 pips on both pairs. Expectation is to not take a stop loss but let it move and then retrace back.
AUD/USD only breaks 50 pips 23% of the time
AUD/JPY breaks 50 pips about 17% of the time [/color]
Entering before the news. news is released at 7:30 so enter at anytime before the news between 6 and 7:29 PM trying to get a butterfly that is at least that wide if not wider on the 11 pm expiration
To help make it more clear I updated it to 6 pm to 11 pm and noted the release time of 7:30
Thank you for the feedback 
when doing the straddle can I use a daily binary above and below market or does it have to be a spread?
We use spreads for straddles we also use binary strangles
we may or may not use dailies depending on price and breakeven and expected range
spreads cost more have to move a little more - but often can breakeven win a little lose a litte on a non moving event
strangles cost less have to move less but if they don’t move enough are a total loss
On today’s USD/CAD News Trade there were 3 pieces being released at different times starting with the rate at 10am then report at 10:30 and press conference at 11:15. I hit my 1:1 before the 2nd piece of news was released but should have I stayed in? Looked for another possible trade for 1030 then again at 11:15?
nope start with the first one - try to have a expiration that will take you through all three in case you need the time - you played it perfectly - i did cover how to trail stops on news today on my radio show - the archive should be up in a bit for 1/22/2014 - check it out
Hey Darrell,
Are you still updating the News Trading Plan for Mon latest 2AM and for the rest of the week on Tues?
I want to start planning my week around the news trades according your News Trading Plan.
So just checking on your usual routine 
Thanks Kellie
Yes this is my usual schedule. Soon we will be working towards having it done by Friday each week but for now yes Monday early then Monday evening for Tuesday on
How come the News Trading Plan doesn’t include all of the high impact reports I see on the Economic Calendar?
Because this events don’t move the market in a consistent pattern or do not have forecast numbers. Just because the calendar says high impact does not mean it moves a lot it just means it’s important for the currency.
Oh I misunderstood high impact that makes perfect sense. Thank you so much Darrell!
Is it possible to see the results of the report right when it comes out so you could be directional with your trades as opposed to Iron Condors, straddles etc.?
Here is where it is updated live: Weekly Natural Gas Storage Report - EIA
You think you will be faster than the algos that are reading it? Interpret all the numbers int he report (not just the main one but all of them, revisions, and many other factors). By the time your seeing it and possibly analyzing it the move is done.
There are programs that do this (ie reads news fires it off). They are expensive require co locating on the floor with a broker on the floor and wel they don’t really work that well (ive tried them).
Just being real with you to save you from wondering down a rabbit whole that will take months if not years to come to the conclusion that the answer is no…
Why would you want to be directional when you don’t have to be and you can profit?
Not sure if you have done these trades but the win rate is phenomenal so why are you trying to change it up?
[QUOTE=skytrader91]
Is it possible to see the results of the report right when it comes out so you could be directional with your trades as opposed to Iron Condors, straddles etc.?[/quote]
I was just curious. Last night I did what my best guess would be called a “Half Condor” where I bought a spread that was way in the money with a 1:1 risk ratio.
Technically I was directional but the break even distance was 64 tics almost 70 which I gathered to be the average move after looking at the historical data back to March 26th. So fundamentally was this an Iron Condor? And do these trades appear often?
Thank you so much for your feedback Darrell you’re great.
Are you looking at demo? where you actually able to get filled on those prices? No that is not often.
As they are um a bit off…Demo sometimes has issues compared to live. You get the feed live or demo into the scanner based on which one you choose at the top.
Our proximity number is correct but the bid/offer on the spreads is crazy. If you did see that you should have grabbed every single contract available hedge it off and keep going
Not really such thing as half a iron condor. But i understand what you mean. Your just doing a “credit spread” meanning you are being credited time as time passes so long as movement does not move past that time value. Same concept just 1 side versus 2.
Yes it was demo. That makes sense. And I received max profit for this trade.
Thanks for everything Darrell
I have a question on the upcoming Oil inventories report tomorrow. I am interested in how to set up an Iron Condor into this report. I need spreads that expire before the report comes out, possibly 0700? Can anyone point me to a video that shows how to set this up step by step? I watched the “trading flat markets” video that talks alot about setting these up but I am looking for some more specific tips. Such as how early do you get into your iron condor for this report? 1 hour, 2 hours? the Plan says 30 to 90 minutes, does that mean I start looking at spreads up to 90 minutes before the report results are released?
What kind of premium should I expect to collect with these Iron Condors?
Tips for setting up expected range in my charts? 2 hours before report time, 1 hour? Do I use an offset on my expected range?
Does anyone try Iron condors on flat overnight markets like EUR/USD, USD/CHF, GBP/USD? Is there a way to leg into your premium collection? buy and sell a couple dollars out of the current profit zone? Target the 5 hour spreads, expiring at 11PM?
Stop losses on these Iron Condors? I have yet to find any details on how to set that up? Are you using the stop plugin? or do you set a buy/sell price on each side of your spread with a limit order?
So many questions!
Thanks! 
OIL INVENTORY Oil inventory will not be released tomorrow as Monday was a holiday so it will be delayed till Thursday. You can enter basically 2 hours before, ie 9 for 11 am expiration 1 hour before, Ie at 10 for 11 am expiration, 2 hours before ie at 10 for 12 pm expiration or even the night before ie - 6 pm for 2:30 PM expiration etc… whatever expiration time you use make sure your expected ranges for high to low and close to close are set for the amount of time you will be in the trade and will start at the time you will enter
ie start at 10 ends at 11 (1 hour) starts at 10 ends at 12 pm (2 hour), starts at 10 ends at 2:30 - 4.5 hour etc…
Use these ranges to know what to expect as oil inventory NORMALLY comes every Wednesday at 10:30 AM and then look at premium pricing justifies a condor or a straddle based on the expected move - adjust them to compare different expirations to find the best one.
You use the offset if you need things to line up differently - ie setting up a 9 am for a 11 AM expiration - or warning a 9:30 AM for a 11 AM Expiration may use say 90 minutes etc…
WHAT RANGE SIZE You will have to play with the minutes - first set the begin/end time you want ie 90 minutes from entry to exit Then just adjust the offset time till it lines up with your entry/exit time on the expected range
HOW MUCH PREMIUM You should be able to collect enough premium to account for a majority of the expected range move high to low OR You should be able to pay a small enough premium to profit on a 1:1 if the market ran up the expected range move high to low and you took profit
If the premium is not there for either you don’t take the trade.
For an iron condor to work you need either A) Time so you can collect the time premium or B) Excess implied volatility (due to a larger than normal move expectation - ie a news report coming out)
STOP
Depends on the premium you receive and the width of the spread. ie eur/usd spreads are narrower than GBP/USD spreads so one may be more tempted to use them on GBP/USD - but you also get more premium on GBP/USD
As a general rule i look for about a 1:1 as a stop loss on a iron condor -
If you don’t have A or B there wont be enough premium to do an iron condor.
NIGHT For night time ones you just have to plot the expected ranges then look at premiums to see if its worth it or not. As IV changes etc… the answer will change depending on the night.
