|
PureBytes Links
Trading Reference Links
|
I am not an economist, but one precaution you should observe is this: there
are always NUMEROUS economic and other data and indicators coming out, far
too many for many people to be continuously cognizant of all of them. But
various events and circumstances raise the public's consciousness of certain
of them and the ones which are "highlighted" change from time to time. In
other words, the ones which were the hot-buttons a year ago quite likely are
not the hot-buttons of today. Yesterday employment figures, today interest
rates, tomorrow - who knows?
Regards,
Carroll Slemaker
----- Original Message -----
From: "Dan Middleton" <danmiddleton80@xxxxxxxxxxx>
To: "omega list" <omega-list@xxxxxxxxxx>
Sent: Wednesday, February 06, 2002 12:04 PM
Subject: Economic Numbers and Daytrading
> I want to backtest a very short term intraday system that buys/sells index
> futures immediately as economic reports are released.
> The basic premise (I haven't backtested it yet) is that high probability
> trades may be entered as long as there is some significant discrepancy
> between expected and actual numbers (as the expected number would already
be
> discounted).
>
> However I am no economist (I am much more at home with technical analysis
> than fundamental stuff).
>
> So I have a few questions, and I apologise if they seem a little naive to
> many on this list but we all have to start somewhere:
>
> 1. Which economic numbers (such as Fed Interest Rate Decisions, non farm
> payroll etc. ) have the biggest and most immediate impact on index
futures,
> and without getting overly technical, why?
>
> 2. For these numbers, where might I get:-
> a) a history of their values,dates and times (this question came up on
this
> list recently but the only response that I recall was to a subscription
> service - maybe there are others?)
> b). a history of forecasts corresponding to the values above (I want to
> compare actual with expected numbers).
>
> 3. How do the TV stations (CNBC/Bloomberg) compare for their speed of
> reporting these numbers with subscription newswires or other sources? How
> important is a split-second difference in speed of reporting to a
daytrader
> trying to profit from these announcements? I am using an electronic
trading
> platform and my fills are generally pretty good.
>
> 5.Bottom line question: Has anyone on this list benefited from an
approach
> similar to this?
>
> All answers, referrals and abuse welcome.
>
> Dan Middleton
>
|