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Forex Signal (Thu, June 17, 04:30 am EST) UK Retail Sales m/m

Discussion in 'Current Forex Trading Signals' started by Crazy Cat, Jun 16, 2010.

  1. Crazy Cat

    Crazy Cat Former FPA Special Consultant

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    Hi there :)

    This is Crazy Cat writing.

    On Thursday, June 17th (04:30 am New York Time) we will have UK Retail Sales (with gasoline) m/m coming out. It is expected to read 0.1. Last month it read 0.3.

    This is one of the best reports to trade. I hope we will have a really nice trade...

    Please read what this indicator means and how it affects the GBP/USD by going to this link: http://www.forexpeacearmy.com/forex-forum/economic-indicator-descriptions/7510-uk-retail-sales.html

    The trigger for this indicator is 0.5. This means that if UK Retail Sales With Gasoline m/m comes out at 0.6 or higher, GBP/USD will probably go up by 40 pips or more in the first 45 minutes of the report. If it comes out at -0.4 or more negative, GBP/USD will probably go down by 40 pips or more in the first 45 minutes of the report.

    Obviously, the bigger the difference between expected and actual numbers, the bigger will be the move.

    In addition to the UK Retail Sales with Gasoline m/m number, we will have other Retail Sales numbers coming out. If they conflict, I recommend skipping the trade but if we get a tradable signal, it's kind of unlikely they would conflict.

    To read the after-spike retracement strategy for this report click here: http://www.forexpeacearmy.com/forex...l-sales-after-spike-retracement-strategy.html

    For example: on March 25th, UK Retail Sales m/m came out at 2.1, versus an expectation of 0.6. GBP/USD spiked up by around 60 pips. See for yourself what happened on this chart: Forex news trading currency exchange charts

    I highly recommend you study the entire history and charts of this report by following this link:
    Forex News Trading | Details and History for GBP Retail Sales m/m

    I hope you make some money on this report.
    -Crazy Cat
     
    #1 Crazy Cat, Jun 16, 2010
    Lasted edited by : Sep 8, 2016
  2. digital_soul

    digital_soul Private, 1st Class

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    Please people who successfully have been news trading for awhile, please help me answer the following:

    - What broker do you use that still has reasonable spreads for spike trading (if any)?
    - When you get the data from SNW, has the market already start moving in the direction before your order gets filled? (ie. is the execution of the SNW fill to the broker fast enough?)
    - Do you set your take profits to get filled on the spike or after the spike occurs?
    - Felix says use a ECN broker, is that what you are using too?
    - Do you trade the after-spike strategy?
    - With many brokers widening spreads, is it still worth trading the spike or better off with the after-spike?

    Much appreciated to get your views.
     
  3. Chibuzor Okoye

    Chibuzor Okoye Recruit

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    No one will want to tell you anything. They want to keep making profit while it lasts and if the news gets out, it might affect their income flow. So, you need to test for yourself.
     
  4. Boko Maru

    Boko Maru Sergeant

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    It's fine to ask questions, but our friend above is right in that you won't get answers to everything. I'll share what I feel is appropriate...see above for responses. Hope it helps.
     
  5. alvin050

    alvin050 Private, 1st Class

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    At least use a broker which is regulated by NFA (US) or FSA (UK). Study the broker review section on Forex Peace Army so that you dont waste your time trying out the obvious scams.
     
  6. digital_soul

    digital_soul Private, 1st Class

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    Thanks guys for the help! I just wish someone could point me in the right direction for broker. But your information is very useful regardless. If anyone wants to add more please feel free!!

    Thanks!!

    :)
     
  7. markot

    markot Recruit

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    Hello ,

    News trading is very dangerous trading strategy ,as well as stresfull too ( in my opinion) .
    However there are ways someone can profit from it . ''Big boys '' usually know the information before the majority so they take side , and often markets move to the opposite side of what the news was !
    The best think one can do trading News is actually implying GRID trading strategy . There are Forex brokers who have tehnical possibility to imply OCO (one close other ) ,such as FXCM (who actualy have floating spread very tight /up to 0.7 pip ) . This strategy u can use to trade news , however nothing is easy ;) My advice is to find news that produce posible volatility (such as NON-FARM PAYROLL -US ) and place position OCO ..whichever is first filled the other is closed /automaticaly . The rest is money managment ,and that is something personal for each ndividual .
    Regarding ECN (Electronic Communication Network) they are good brokers . But u need large capital in order to get STP ( Straight Through Process -conection) at lest 1k (Dukascopy -1k ,Saxo Bank -10k , FXCM -1K ....etc ) ! Any broker claiming he is ECN with less then 1k requiring to open account , is possibly laying (there are no sure ways to discover ECN ,except with experience and trading with them ..even than it could be market maker ) Great broker ,u may want to reconsider is also OANDA (market maker ) .
    I hope this helps u a bit ;)

    P.S
    i apologize for gramma and spell mistakes
     

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