V.15:13 (584): Quick Scans: Event Trading by John Sweeney
Product Description
Event Trading (Ben Warwick) by John Sweeney
Few people are greater advocates of statistically capturing trading experience than I am, so when Ben Warwick in Event Trading proposes that we measure the results of trading from surprises that the market gets, I’m on board from the start. While most traders are familiar with the earnings surprise idea (that is, when the news differs from what’s expected, trade the reaction for up to 90 days), Warwick has done the groundwork for exploiting commodities surprises: economic news releases.
Using a straightforward breakout rule (a market closes in the extreme 20% of its range on the day of release of one of nine regularly published government economic reports), Warwick profiles the results for the upside and downside breakouts of the Standard & Poor’s 500, Treasury bonds, Eurodollars and the dollar index. I appreciated his frankness; he points out where the information is solid and where it’s not (“anomalous,” in his view).
Few people are greater advocates of statistically capturing trading experience than I am, so when Ben Warwick in Event Trading proposes that we measure the results of trading from surprises that the market gets, I’m on board from the start. While most traders are familiar with the earnings surprise idea (that is, when the news differs from what’s expected, trade the reaction for up to 90 days), Warwick has done the groundwork for exploiting commodities surprises: economic news releases.
Using a straightforward breakout rule (a market closes in the extreme 20% of its range on the day of release of one of nine regularly published government economic reports), Warwick profiles the results for the upside and downside breakouts of the Standard & Poor’s 500, Treasury bonds, Eurodollars and the dollar index. I appreciated his frankness; he points out where the information is solid and where it’s not (“anomalous,” in his view).
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