Secret News Weapon

An early finish for me today as I’m on babysitting duties for the rest of the day. A pretty decent morning so probably a good idea that I’m finishing as I don’t really want to risk any more pips. I might if I can look at the news releases a little later.

The software I’ve been trying out the last few weeks is called ‘Secret News Weapon’. It claims it can enter you in a trade pre spike and be able to ride the spike as a result of the news. I’ve always been interested in trading news releases as the idea of quick gains appeals to me as I’m sure it does to most people. After receiving my login details I was able to download the software needed to trade news items. I watched the videos necessary to get familiar with the software and it seemed pretty straight forward. The main area of focus is the trigger. This is the deviation from the forecast news item. Using NFP as an example as it always produces a mammoth spike, let’s say it’s forecasted at -30k. I set a trigger of 15. This means if it comes out at -15 or -45 I get entered into a trade. You set up the software so it knows whether to buy or sell depending on the actual number released. So far, so good. You can set your own triggers and be safe in the knowledge that if it deviates enough from the forecasted number, you’ll get entered in the correct direction. Except it never enters. I’ve had 4 news items that have hit my trigger and every time I’ve been requoted by my broker. The news is delivered in 100 milliseconds but this appears to be not quick enough. I will persevere for now though as I’m following a full-time news trader who has also struggled to get filled of late on exactly the same releases. Obviously the key with this software is to find a broker who doesn’t massively widen their spreads pre news and who will offer genuine fills when getting the required trigger.

The support team suggest trying various brokers on demo but that really isn’t going to prove anything as the difference between demo and live is like night and day. You don’t experience requotes or bad fills on demo accounts so until you try it live, you just won’t know if the broker is worthwhile or not.

It’s certainly not cheap either at $299 a month after the initial $69 30 day trial. I’ve got 10 days left before the $299 kicks or I can cancel it. If I can get a decent fill on a trigger then it will pay for it in one trade but so far the first trade has proved illusive. I’ll report back after the trial is over and hopefully I’ll have got a decent trade in!

Finally, to whoever the sad person is who keeps voting each post as very poor.. just how sad are you? If you really don’t enjoy reading the blog then it’s pretty easy to just stop reading, don’t you think? Or do you think it’s clever to keep doing it? Bravo.

Advertisements
  1. Hi again. The news trader thing sounds interesting, however, is it not simply playing into your ‘quick-hits’ mentality you have been trying to fight against even more? OK, you can probably get around this as it’s the computer making the decisions, so your emotions will not come into play. Will be interesting to see how it goes.

    I have used a news trader bot before with some success before I became board with having to input the strike times and found that it worked perfectly on FxPro and GoMarkets…maybe give them a try.

    Finally, ignore the saddo and keep up the good work.

    G.

    • Hi Graham,

      The software is basically ‘auto-click’ software in which it acts quicker than a human could;supposedly. Had another trigger hit today with CAD core retail sales but again, got requoted so that’s 5/5 for requotes! ARGH.

      Thanks for the kind words. Good to have some sensible readers.

  2. Man…board…I can spell, honestly!!!

    G.

  1. No trackbacks yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: