Newstrader Could Push Higher in May

The Newstrader win-rate dipped to 55% in April, and gave an overall -53 pips for the month. But I would take these results happily considering it was not a straightforward month for trading the economic news releases.

Due to the strong rally seen in the stock market during April, I noticed that bearish US economic data were not able to make a strong impact on the price movement. Occasionally, European currencies such as the British pound could even make ground against the US dollar despite the improving US economic outlook, benefiting from increasing risk-taking activities.

This is about to change due to the growing uncertainties about the market outlook. Investors hope to gain more clues from the economic releases from now onwards. In that case, it will be easier for the Newstrader to make further progress.

Here comes May and the program so far records a better start to the month. Two trades were taken on Friday with UK Manufacturing PMI yielding +40 pips and US ISM Manufacturing Index +45 pips. I hope I am right.