0:00 all right what's good welcome to boot
0:04 camp
0:05 um I'm just gonna stop saying the days
0:06 because I don't know where we're at I
0:08 think we're getting close to uh three
0:10 weeks so hopefully you guys have been
0:12 powering through kind of crazy I've been
0:14 uploading every single day for three
0:15 weeks seems Seems insane there's been
0:17 some days where we've literally uploaded
0:18 two videos a day
0:20 um it's really motivating I want to keep
0:22 it up uh we're almost a month into this
0:24 and we're we're you know we're working
0:26 we're working slow and steady all right
0:29 um you know we're we're getting to where
0:32 we need to be we're slowly you know
0:34 we're almost done with the building
0:36 blocks we're almost getting into
0:37 strategy probably by the end of the
0:39 month we'll be done
0:41 um we'll be done with the building
0:43 blocks and we'll have the strategy
0:45 locked down
0:47 um but today is not about trading today
0:49 it's about kind of like psychology but
0:51 or it's sort of about trading um but
0:53 since we had CPI news data today I
0:57 figured today
0:59 um is one of the best days for us to
1:02 talk about news in the market and you
1:05 know what types of news you shouldn't
1:07 trade
1:08 um why you should be patient with news
1:11 um and I was actually just on a a zoom
1:13 call with my Discord and it was it
1:16 actually made me rage
1:19 um seeing how many people
1:22 traded during CPI and before CPI and
1:26 wanted to trade after CPI so I figured
1:29 let's make this the video for today
1:32 um
1:33 so let's get right into it let's talk
1:36 about news in the market okay so first
1:39 of all this is going to be who knows how
1:42 long but I'm going to try and cover
1:43 everything about news
1:45 um possible in this video so hopefully
1:47 we don't have to recover it again and
1:49 I'm trying going to try and drill this
1:51 into your guys's skull
1:54 um about the [ __ ] so
1:57 first of all where do I get my news from
1:59 it is called Forex Factory okay so I
2:02 literally just go forexfactory.com and
2:05 when you come on here
2:06 initially it'll look like this
2:10 let's put all these things on here
2:17 it'll look like this and this is this is
2:20 a lot to take in okay so the way that I
2:24 like to do it is
2:26 I know that these yellow folders these
2:28 are just random stupid news events that
2:31 happen day in and day out that don't
2:32 really affect the marketing that's why
2:34 they're yellow
2:35 okay so I get rid of those I leave the
2:38 gray folders because those announced
2:39 like bank holidays and days where there
2:41 aren't trading days so I get rid of the
2:43 yellow folders and then I also get rid
2:46 of all the currencies that I don't trade
2:48 so do I trade AUD USD or any AUD pair no
2:51 do I trade any Canadian dollar pair nope
2:55 do I trade any
2:57 um CHF pair no do I trade any uh Chinese
3:00 yen pair no do I trade any European pair
3:05 nope do I trade a GBP a Great British
3:08 pound pair yes I do I trade GBP USD and
3:11 GBP JPY cool do I trade a JPY pair yes I
3:16 trade GBP JPY cool do I trade NCD no I
3:20 do not do I trade a USD pair yes I trade
3:23 GBP USD I trade gold and then I also
3:25 trade the S P 500 your S P 500 news
3:28 events will be covered by USD okay
3:31 and then from there I hit apply filter
3:33 and boom much prettier knocks it down to
3:37 what we need to focus on okay as you can
3:40 see it labels what currencies the news
3:42 the news is for right in here
3:45 okay so from there right we we filtered
3:49 it down okay now let's talk about what
3:53 news we should try and avoid most of the
3:56 time if there is a red news folder no
3:59 matter what I will always always always
4:02 wait until the news comes out which you
4:06 can see what time it comes out right
4:08 here and the nice thing about this is it
4:11 um
4:11 it gets set up to like it automatically
4:14 like connects to whatever time zone
4:16 you're on so this it'll say it in your
4:18 time zone
4:20 um
4:21 so today we had CPI as you can see red
4:23 folder red folder red folder we also
4:26 have two red folders on GBP
4:29 um overall just a terrible probability
4:32 day to trade right we have three red
4:34 folders We Know That CPI news data
4:36 causes havoc in the market right if we
4:39 if we look we can see like even on GJ
4:44 oops if we go into the lower time frames
4:47 we can see how large these Wicks are
4:49 like boom this is right when CPI came
4:52 out massive Wick let's look at gold
4:58 right this is during CPI massive Wick
5:01 math like this is not price action that
5:04 you are able to trade it is unprobable
5:06 price action
5:08 so why don't we why do we want to wait
5:11 until afternoons on red folder days
5:14 because news is going to drastically
5:16 affect the market and
5:19 the nice thing about this is let's say
5:22 we only have one red folder and I'm okay
5:24 with trading on red folder days
5:26 it just depends on which ones okay so
5:29 let's say we have a red folder day and
5:31 we see the market and we wait for news
5:33 to come out and news comes out
5:37 we let price develop and news doesn't
5:39 affect the market that much
5:41 then I will be okay Trading right if you
5:45 news
5:46 doesn't affect the market for like after
5:49 like 15 or 20 minutes after it comes out
5:52 so at like 8 45 or like at 8 50
5:56 if news didn't affect the market I would
5:59 have been okay to trade but knowing CPI
6:02 CPI always affects the market
6:04 Okay so
6:06 that's that's my my kind of overall rule
6:10 with news red and orange folders
6:13 always wait for news to come out
6:16 let price develop
6:19 see if it drastically affected the
6:20 market you know with large Wicks large
6:23 moves okay and if it does that don't
6:26 trade
6:27 okay do not trade and if it doesn't
6:30 okay you can potentially look for a
6:33 trade but still be playing on that
6:34 defensive side still be playing with
6:36 that patience in mind knowing that hey
6:39 today it will probably be a lower
6:40 probability day I should probably risk
6:43 less I should probably reduce my risk I
6:45 should probably be looking to not trade
6:47 unless Market gives me a great
6:49 opportunity
6:50 and most the time it won't give you a
6:52 great opportunity
6:53 so de-risk yourself from the market when
6:55 there's big news
6:57 okay there's a couple news events that I
6:59 always avoid you guys should write these
7:01 down CPI PPI fomc
7:06 and NFP
7:09 those four CPI
7:11 which happened today
7:14 PPI which is happening tomorrow
7:16 fomc which is also happening tomorrow
7:20 and then NFP non-farm payroll anything
7:22 that says non-farm non-farm employment
7:24 non-farm payroll nope no go okay those
7:29 four I will not I do not trade
7:31 whatsoever
7:32 okay so I won't be trading tomorrow
7:35 the following day this day
7:39 I don't want to trade
7:43 I I probably won't trade on Thursday
7:46 either because look we have one red
7:48 folder two red folder three red folder
7:50 four red folder orange folder another
7:54 orange folder a [ __ ] red folder and
7:57 then an orange folder okay and and all
7:59 of these are for USD so if anything I'll
8:03 probably only be looking at like GJ
8:06 on Thursday
8:09 right because all of these are USC Pairs
8:12 and all the other all the trade all the
8:13 pairs that I trade are USC besides JPY
8:19 okay and again I'll look at the market
8:22 after 8 30 right and see how price
8:25 develops after all this news comes out
8:27 and I'll make a decision right because
8:29 this isn't CPI this isn't PPI this is an
8:31 fomc and this isn't non-farm payroll
8:33 however
8:36 this is a lot of red folders so low
8:38 probability d-risk see what happens in
8:41 the market if it makes a big move we're
8:43 done
8:44 okay on Friday this is a perfect example
8:47 of when I would trade and how I would
8:49 trade news we have news that comes out
8:52 30 minutes into Market open Market opens
8:54 at 9 30 for me boom news comes out at
8:57 10. what am I going to do I'm going to
8:59 sit on my hands [ __ ] tuck that [ __ ]
9:02 under my ass and I will not trade until
9:07 10 a.m hits
9:09 and I'm and I still won't trade until
9:12 like 10 30 hits because we need price to
9:14 develop and we need to see what happens
9:16 with consumer sentiment and even then
9:19 even then
9:22 will I be you know actively trying to
9:25 make a lot of money no I definitely
9:27 won't why because this entire week is
9:30 flooded with news this entire week has
9:33 so much news
9:36 okay so it's best to sit on your hands
9:38 don't trade in unprobable conditions be
9:41 patient
9:43 remember this is what we talked about be
9:45 patient look for a reason not to trade
9:48 not a reason to trade okay and it will
9:52 benefit you
9:53 all right so now we know what news what
9:56 news events to avoid and now we know
9:58 that we should wait if we do want want
10:01 to trade news or if we're looking to
10:04 potentially take a trade and we know
10:05 that there is news that day and it isn't
10:07 one of those four events we wait for
10:10 news to come out we wait to see the data
10:12 and we'll talk about how to read the
10:14 news data right now
10:17 um and then we wait for like you know 15
10:19 20 30 minutes okay let price develop
10:23 and then we can look to take a trade
10:25 cool cool
10:27 now let's talk about how to read news
10:29 data
10:31 so Forex factory makes this [ __ ] super
10:34 easy so the nice thing about this we see
10:37 CPI month-to-month CPI year to year core
10:39 CPI month to month okay as you can see
10:42 right here we have the forecast which is
10:44 what people in the news is predicting
10:47 right like CNN Fox News whatever this is
10:49 what Forex Factory is predicting the
10:52 news will be right this is what everyone
10:54 is predicting
10:55 right and these numbers are the actual
10:58 news data that ends up coming out
11:01 okay so when we see these numbers and
11:04 they're different than the forecast and
11:05 they're different than what people are
11:06 expecting we can open up this little
11:09 folder you just click the little folder
11:10 and it brings you a bunch of data okay
11:13 we can see where it's coming from Bureau
11:15 of Labor Statistics no one gives a [ __ ]
11:16 okay measures measures what is this
11:20 talking about change in the in the price
11:21 of goods and services purchased by
11:24 people so when you go to the grocery
11:25 store what do you buy right this is
11:27 pretty much what it's measuring
11:29 okay
11:30 this is the only thing that I care about
11:32 the usual effect right because this will
11:35 tell you
11:37 the news bias and that doesn't mean that
11:39 should be your buys for the day that's
11:41 just telling you what the news came out
11:43 as
11:44 so what was the forecast 0.2 and also
11:48 before the news comes out this actual
11:50 spot is blank okay this is because news
11:52 already came out right if we go and look
11:54 at tomorrow
11:56 right we see that as blank and if we
11:59 click on this
12:00 right we don't we don't know what the
12:02 news data is yet
12:04 okay but we have this one
12:07 so we see what is the usual effect if
12:10 the if
12:12 the actual
12:14 right it literally gives it to you if
12:16 actual
12:17 is greater
12:19 is greater than
12:21 the forecast
12:23 then it is good for the currency
12:27 hold on though
12:29 okay
12:30 this is where it gets tricky
12:32 some of you guys might you know needs to
12:36 take some time to understand this for me
12:38 it makes complete sense but some of you
12:40 guys might take some time
12:42 good for the currency what does that
12:44 mean does that mean good for the S P 500
12:46 no no
12:53 it does not mean good for the S P 500 is
12:55 the S P 500 the U.S currency
12:59 no
13:01 the S P 500 is not the currency bruh
13:04 what is the currency the dollar the dxy
13:09 and what do we know about the dxy when
13:14 the dxy goes up anything against the the
13:17 dollar goes down so gold where's gu g u
13:24 the s p
13:25 will follow down so when it's good for
13:30 the currency when when that means good
13:33 for the dollar that means bad for SPX
13:37 bad for gold bad for GU bad for EU bad
13:42 for AUD USD bad for [ __ ] anything
13:46 against you the US dollar
13:51 good for the US dollar means bad for
13:54 anything against it that even goes for
13:57 crypto
13:58 BTC slash USD anything XXX slash USD bad
14:07 SPX
14:09 bad
14:11 good for the dollar bad for SPX
14:15 hopefully that that gets it across
14:19 okay so when we see this
14:22 greater than forecast is good for
14:24 currency it was less than forecasts okay
14:30 all right
14:32 it was less than less than forecasts
14:35 okay we see the dxy rally bad for
14:38 [ __ ]
14:39 um we see the [ __ ] s p fall okay if
14:42 we go on this same [ __ ] greater than
14:44 forecasts good for currency
14:49 okay
14:50 cool okay and that doesn't mean that the
14:54 chart is going to follow
14:57 right because we can see we can see
14:59 today
15:01 right greater than forecast good for
15:03 currency it was less in the forecast but
15:05 what happened to dxy
15:07 it's [ __ ] pumping right right here
15:12 this candle is when the news came out
15:15 this is all that news did right we say
15:17 uh oh bad for bad for
15:21 um sorry bad for the currency because
15:24 the forecast because the forecast was
15:26 actually less because sorry the actual
15:28 was actually less than the forecast we
15:30 dropped down but then what did dxy do
15:32 rallies
15:34 a rally that's why we can't necessarily
15:36 trust news bias
15:39 because price action is is superior
15:41 that's why we have to wait for news to
15:43 come out
15:44 okay right we see that it was less than
15:46 forecasts
15:48 right so that means it would be bad for
15:50 the currency we see dxy right when news
15:52 comes out with this candle it dumps
15:54 right bad for currency boom false what
15:57 happened to the S P 500 [ __ ] rallied
15:59 right where where did it come out with
16:01 news right here look boom rallies high
16:05 high high
16:06 okay but that doesn't necessarily
16:09 show you guys where Market wants to go
16:11 for the day
16:13 right where did Mark where did market
16:15 end up going dollar ended up rallying
16:18 the dollar ended up eating up this news
16:19 drop
16:21 so that's why we need to wait for news
16:24 okay
16:26 so good for currency bad for the S P 500
16:30 okay same thing
16:34 with these GBP stuff okay however we
16:37 need to understand right understand your
16:39 currency pairs if it is xXx slash USD
16:45 right and we have something that is good
16:47 for the US dollar whatever that pair is
16:50 it will go down because it's against the
16:53 US dollar right so if it's the Great
16:55 British pound against the US dollar and
16:57 the US dollar benefits
17:00 then what does that mean that means the
17:02 pound against the dollar will fall
17:04 because the US dollar is going to be
17:06 stronger than the pound
17:09 can you get like are we comprehending
17:12 are we good with that
17:14 write that down rewind that watch it
17:18 again because like sometimes
17:21 I don't know what it is about reading
17:23 news but some people like I try and
17:25 explain this as simple as possible but
17:26 some people still don't understand it
17:28 okay so that's against the US dollar now
17:31 hold on this is where
17:34 you might start bugging out really focus
17:36 okay
17:38 what about
17:41 GBP slash XXX right when there's news
17:47 for Great British pound right look at
17:49 how these pairs are set up right if we
17:51 drag this over
17:53 what does this say GBP JPY that means
17:55 right literally Great British pound
17:58 against the Yen so for the news for
18:03 Great British pound
18:04 when we see okay less than forecasts is
18:09 good for currency we had less than
18:11 forecasts that means it's good for
18:13 currency that means if it's good for the
18:16 pound then anything pound against XXX
18:20 will go up
18:25 it's different than against the US
18:27 dollar
18:29 right so if we see if we have news for
18:31 GBP
18:33 right this one for example less than
18:36 forecasts good for currency good for the
18:39 Great British pound if it's the pound
18:41 against the dollar in the pound
18:45 gets good news good for that currency
18:48 then that pair is going to go up
18:53 right but if it's
18:56 whatever currency against the US dollar
18:59 right it depends on what side of the
19:02 parentheses uh what side of the slash it
19:04 is
19:05 right
19:06 pound against the dollar
19:09 right
19:11 versus
19:12 right yeah like pound against the dollar
19:16 versus like USD JPY
19:20 okay would be different
19:22 for this right because that's USD
19:25 against the yen
19:27 are we understanding that we have to
19:29 understand what side of the slash we are
19:32 on we have to we have to understand that
19:34 These Guys these we are literally
19:35 comparing two currencies it's a fraction
19:42 so the pound is on top USD is on the
19:46 bottom
19:47 right so if we get good news for what's
19:50 on top
19:52 that means up up if we get bad news for
19:57 [ __ ] that's on the bottom that means up
19:59 up if we get good news for what's on the
20:02 bottom that means down down if we get
20:03 bad news for what's on top that means
20:05 down down
20:10 is that making sense
20:13 ready we'll literally write this down
21:11 does that make sense
21:13 and then we'll do a contrasting one like
21:16 USC JPY
21:53 that makes sense
21:58 okay
22:00 so whatever is on top whatever's on top
22:03 it's positive correlation whatever's on
22:05 bottom it's just inversed okay so if
22:08 it's good for currency on whatever is on
22:10 the back end of the Slash
22:12 it's inverse okay so if we get good for
22:14 currency on the US dollar price is going
22:16 to go down if we get bad for currency on
22:18 the US dollar price is going to go up
22:20 versus here on uh on if USC's on the on
22:24 the other side if we get USC good for
22:26 currency price is going to go up if we
22:28 get USC battery Currency Price goes down
22:30 screenshot this put this in your notes
22:32 do whatever you have to do
22:35 that's how we find our news bias is new
22:37 is news bias and all be all no it just
22:40 helps us understand [ __ ] news data
22:44 okay
22:46 cool we got it we locked in awesome
22:51 that's how you read news
22:53 and that's how you should trade news
22:55 right wait for Newsday to come out if
22:59 it's CPI PPI fomc or NFP just call it
23:02 quits bro sleep in
23:05 live to trade another day don't lose
23:07 your money you're trading in
23:08 unprobleable conditions odds are you're
23:10 not profitable already so that means you
23:12 have a below a 50 chance to win the
23:14 trade in the first place because you're
23:16 not profitable okay
23:18 along with news coming out
23:20 gives you a lower probability of winning
23:22 because you don't know how to trade and
23:25 you have an unprobable an unprobable of
23:28 news event coming out into the market
23:32 terrible decision to trade
23:35 and you wonder why you guys lose money
23:37 in these markets
23:39 literally had this discussion with my
23:40 Discord this morning I literally had a
23:42 zoom call with my Discord telling them
23:45 literally I did a zoom call
23:48 I told them I was going to trade
23:51 and I did a zoom call just so I could
23:54 tell them not to trade
23:57 trying to save you all bread man
23:59 hopefully so hopefully this video helped
24:01 you understand news within the market
24:03 hopefully you guys understand how to
24:05 read news within the market with this
24:07 stuff now and hopefully you guys can set
24:09 up your Forex Factory and make sure you
24:11 guys are checking this every single
24:13 morning before you guys trade because
24:15 you don't want to get caught taking a
24:17 trade and the next thing you know news
24:19 comes out five minutes later it stops
24:21 you out makes you lose a bunch of money
24:23 cool cool with that being said you guys
24:27 now know how to read news and I know how
24:29 to find a news bias you now know what
24:30 news not to trade I'll catch you guys
24:32 tomorrow
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