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Forex Signal (Friday August 5, 2011 - 7:00am EDT NY Time EDT) - CA Employment Change

Discussion in 'Current Forex Trading Signals' started by Stavro D'Amore, Aug 4, 2011.

  1. Stavro D'Amore

    Stavro D'Amore Former FPA Special Consultant

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    CA Employment Change
    Forecast 17.7K
    Previous 28.4K
    Pair to trade: USD/CAD
    Triggers we need: BUY 47K SELL -12K


    Economical Impact: High
    Typical Result: Forecast is good for the currency
    Occurrence: Released monthly, about 8 days after the month ends

    About the Triggers:
    Canadian Employment Change - I am looking for is a minimum deviation of 30K both ways, if we get a positive 47K release, we should see a very strong demand for the Looney (CAD) and see it drop more than 40 pips on the initial spike. If we get a negative number, -12K or worse, we should see some weakness in the CAD and some dollar strength that will be the indication to buy USD/CAD pair.

    Please be very diligent as the unemployment rate is due to come out the same time at the expected rate of 7.4%. This number should not conflict with the Employment Changes; we will follow the direction of the news release.

    If we get a conflict, example: better Employment Changes but higher Unemployment Rate, I will not trade this release.

    Why do we care?
    This is one of the most vital economic data, released shortly after the month ends for the Canadian economy. The combination of importance and earliness makes for hefty market impacts and massive volatility.

    Method to trade this: Stavro D’Amore Trading Method
    I would recommend spike trading as the best option when there is great uncertainty in the markets; also the liquidity is very good at the moment if you are using an ECN broker.

    Should you not get a spike trade, I will look for a 30% retrace in the original spike before entering a trade; I will sell half my position as soon as I hit the original high point of the first initial spike and place a SL at entry price. My TP level would be the first initial spike, I will be looking at a 1min chart for this trade, especially if I am trading the after spike.

    Historical Chart and Data for CA Employment Change

    What is CA Employment Change?
    “Measures the change in the number of employed people during the previous month. A rising trend has a positive effect on the nation’s currency. Job creation is an important indicator of economic health because of consumer spending, which is highly correlated with labour conditions, makes up a large portion of GDP. This report is the first of the month that relates to labour conditions, making it susceptible to big surprises.”

    All the best

    Stavro D’Amore
     
    #1 Stavro D'Amore, Aug 4, 2011
    Lasted edited by : Sep 8, 2016
  2. Kathy Narvaez

    Kathy Narvaez Recruit

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    Auto clicker recommendations

    I'm interested in trading news spikes but it's hard to figure out whether the auto clicker services are worth the cost. Most seem to have an activation fee and then a monthly fee ranging from $200 to $500 per month. This seems like a lot to me so would like some feedback from other traders who have used these services. Thank you.
     
  3. Forex Goldfish

    Forex Goldfish Recruit

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    Auto Clicker

    Kathy Narvaez & All FPA Fans!
    (Note: Use Google to find get details.)
    I have been there and I have done that.
    Therefore, I feel qualified to give advice.
    Popular sayings to remember
    (Hang a sign on top of your monitor)
    #1 "Let the buyer beware."
    #2 "There is one born every minute."
    Here is what I recommend to reduce your pain.
    [Note: You will suffer indeed - it is like giving birth].
    1-Get a Trial Option
    (even if you have to pay - do not commit).
    2-Do Practice (A Lot) with Demo Account.
    3-Do Not Get Greedy (start with not more than 1% risk).
    4-Learn Money Management (*MUST*x10^6)
    5-Things that can (& will) go wrong:
    -Internet Connectivity (e.g. Slow)
    -Good Signals with Opposite Price Action
    -False Signals with Terrible Consequences
    6-Things that can (& will) go right (some times).
    -You start winning and it goes to your head.
    -You get the Invincibility Complex.
    -You then Risk more and Blow your account.
    7-Learn Why Many Pro Traders Avoid News Trading.
    -This is why Re-Tracement Approach was invented .
    -Re-Tracement is common to trading
    (e.g. buy on a dip).
    8-Conclusion, once you learn all the
    technical details of Auto-Clicker trading
    then if you have all it takes
    (e.g. Excellent ISP Connectivity).
    you can risk a bit more (e.g. 5%).
    You Must Study Hard Before Risking Your Money!
    They told me once a very wise saying:
    "Trading is a Marathon not a Sprint Race."
    That means that you should give it time.
    Would you get married 2 weeks after you met the person?
    You have to put time (a few months I say).
    Remember:
    Stay Away From The Mermaids & Their Songs!!!
    (Mermaids=Sales People)
    The above relates to Homer's Travels of Ulysses.
    BEST WISHES!
     
  4. church

    church Recruit

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    wrong

    i think we should buy 48 and sell -12
     
  5. P.K. Wieringa

    P.K. Wieringa Recruit

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    Wrong advice??

    Hello,

    It shows: BUY 47K SELL -12K.
    I think it must be SELL 47K and BUY 12K

    Am i right?
     
  6. yurps

    yurps Private

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    NEws tradign Expert?

    surprised this expert on news trading still has not noticed that the real issue with CAD news is to watch the Full-time versus Part-time Employment Change.

    This is why this news has failed recently, we saw big + deviation but only a blip on CAD pairs and back to pre-release....WHY? CAuse the increase was in PART-TIME Jobs while Full time jobs decreased.....
     
  7. RobotFX

    RobotFX Recruit

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    You are right!!!...Would be SELL 47K or more and BUY -12K or less.

    However, look at the market after the news release. Stavro is lucky....hehehe.
     
    #7 RobotFX, Aug 5, 2011
    Last edited: Aug 5, 2011

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