Forex News Trading Plans for Week 6, Feb 2 – Feb 8 2014

[Peter O]

So 15 seconds from actual release time is quite much then. It shouldn't be more than a second. I'd like to have a monitoring tool that could register delays of any event.

 

[zaghloul]

Can AUD trade balance numbers conflict with retail sales numbers? Both are released at the same time. Or are the retail sales numbers more important? I'm going to trade the retail sales number and my deviation trigger is +_0.3% (I prefer the lower deviation and tend to make money even on small deviations).

 

[Peter O]

I usually don't trade trade balance but it's an important event - however I think retail sales is more important. So it depends on deviation. They rarely come at the same time so I would use more conservative deviation in this case.

 

[zaghloul]

Thanks Peter!

 

[zaghloul]

I know I'm beginning to get annoying But is it possible to add Canadian employment change to FNG (before tomorrow ) Its the same time as NFP and often generates some good spikes with a 15k+ deviation. Also if you do add it, what's the best pair to use? I'm thinking EURCAD.

 

[Joh]

Do not know what i did wrong - thought i had set it correctly according to the FNG plan -it shud hav been a Sell but my trade gave a Buy? So this time it was a loss. Sorry Peter have you any idea what happened?

 

[Peter O]

Do not know what i did wrong - thought i had set it correctly according to the FNG plan -it shud hav been a Sell but my trade gave a Buy? So this time it was a loss. Sorry Peter have you any idea what happened?

I don't like asking like this but could you please double check in your memories the button order you entered? Just because this is almost the only event that needs reverse button order. That is the first row belongs to Buy and the second row to Sell so we enter long when CAD suffers because we trade USDCAD. On Friday we trade CADJPY in usual order. With any other event for USD, GBP, AUD, NZD we trade Lower->Sell Higher->Buy order - but this event is an exception.

 

[Peter O]

I know I'm beginning to get annoying But is it possible to add Canadian employment change to FNG (before tomorrow ) Its the same time as NFP and often generates some good spikes with a 15k+ deviation. Also if you do add it, what's the best pair to use? I'm thinking EURCAD.

Unfortunately I can't add other events in this version, sorry - in the next version I will. (But if I could I also would trade it with EURCAD or maybe CADJPY.)

 

[gagolek]

Dear Peter
I'd like to share with you with one idea and please judge if is it worthy to implement it to the sytstem. As you surely know different currencies has different strength in relation to others. There're many websites or software giving this numbers and using different algorythms, but more or less they are reliable in general as it is derived from statistic, historical data. You know that it is better to sell weak currency against strong and, opposite, to buy a strong currency against the weak one. The idea is to trade on two computers and set one of them only to "buy" option against another weak currency when the release supports the objective currency, and the second computer set only to "sell" option against the strong one in case when the reading is weak. For example this week, according to Relative Currency Strength Meter instaled on FPA pages, yen is the strongest, kiwi is the weakest and USD is in the middle between them, so if tommorow's NFP release is good for USD, try to buy USD against NZD (means to sell NZDUSD) or contrary, if the numbers are bad to USD, sell USDJPY. And is at all possible to set FNG only for "range to" or "range from" trigger? Thanks in advance for your answer.
Regards
gagolek

 

[zaghloul]

Peter you added it! You're awesome!