All of the forum categories start with S so I wasn’t sure where “News” would fit in. I just found this article on Drudge: Cameron backs down on urgent Syria strikes - Telegraph
If accurate, it is politically incorrect to bomb Syria. In which case Obama won’t either on the morrow. So, the price of crude should drop during tomorow’s business hours. So, I just sold the daily > 109.00 which is basically one half of a diagnostic deviation level below the current price and then I set a take profit order to buy back at $4.
So, where should Newshounds post their great big ideas: S1, S2, S3, S4, S5, S6, S7, S8, S9, S10 , S11, or S12?
I found it. Now, I understand that trading directionally on the news is counter to Darrell’s philosophy of trading on what the charts say, when they say it, and not before they say it (kinda sounds like “what did the president know and when did he know it?”) but, there is a time and place to just place a low risk trade based on breaking news. In this case, my trade paid (woohoo!). So, I think it would be great to have a forum category that is a place for trader’s to post their Great Big Ideas (GBIs) for others to consider and act on before the market ever knew what hit it (ha ha).
I am working on a thread for that that is just for this purpose. (Remind me if i have not done this by thursday
Of course these ideas can also be posted in the elite room and p3 room.
ie the other day when kerry came out to speak about syria - that was a no brainer buy oil trade - but at the same time you could always be wrong so yes low risk high pay off binary or spread.
However, this is not counter to following the chart. You will notice i say trade with the apex pattern on many news trades. (also note oil was giving a long apex when i did that trade) You need the apex so you know how to manage the trade.