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Forex Signal (Tuesday August 9, 2011 - 4:30am EDT NY Time EDT) - UK Man. Production

Discussion in 'Current Forex Trading Signals' started by Stavro D'Amore, Aug 8, 2011.

  1. Stavro D'Amore

    Stavro D'Amore Former FPA Special Consultant

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    UK Manufacturing Production m/m
    Forecast 0.3%
    Previous 1.8%
    Pair to trade: GBP/USD
    The triggers we need: BUY 2.1% SELL 1.5


    Economical Impact: Medium to High
    Typical Result: The actual forecast is good for the currency
    Occurrence: This Released monthly, about 40 days after the month ends

    About our Triggers
    :
    I like to trade this report / sentiment as I usually get a good fill as there are not many traders that trade this release; therefore if you are using an ECN broker and have tight entry levels, you should get a good fill and make a few pips. This news is tradable with a minimum deviation of 1.8 for a BUY and -1.8 for a SELL which is the difference between the forecast and the actual release. Our triggers are conservative and this will ensure a good fill.

    Why do we care? And what is it?

    Manufacturing makes up around 80% of the total Industrial Production and tends to dominate the market impact. It is a leading indicator of economic health and the production sector reacts quickly to highs and lows in the business cycle. It is correlated with consumer conditions such as employment levels and earnings.

    Method to trade this
    : Stavro D’Amore Trading Method
    I would recommend spike trading as the best option. Please have a minimal slippage of 7 pips on this release as if triggered, we could see a 15-18 pip spike.

    Should you not get a spike trade, I will look for a 30% retracement in the original spike before entering a trade. I will sell all of my positions as soon as I hit the original high point of the first initial spike and place a SL at my entry price. My TP level would be 5 pips more than the original high.

    Historical Chart and Data for UK Manufacturing Production m/m


    All the best

    Stavro D’Amore
     
    #1 Stavro D'Amore, Aug 8, 2011
    Lasted edited by : Sep 8, 2016
  2. Boko Maru

    Boko Maru Sergeant

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    "This news is tradable with a minimum 1.8 deviation"?? Allow me to translate: this release stinks for news trading. A deviation that large has only occurred once in all of recorded history (Oct 2009). But perhaps that's why you are suggesting such a large deviation as it virtually guarantees a no trade...

    Anyway, I have some experience with this news, and can say I'll also be approaching it very conservatively, esp with Trade Balance coming out at the same time. Just a warning for any newbs who may be thinking about getting aggressive for this release.
     
  3. Stavro D'Amore

    Stavro D'Amore Former FPA Special Consultant

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    That is why we have a large deviation set on it!
    Most likely it wont come out close to deviation number, In the unlikely case that it does and deviates this would best option for the triggers for any sort of movement should people wish to trade this report. My triggers are based on a conservative level, they are not aggressive. Also my Bounds are set to 7pips and that is very tight slipage controll.

    All the best

    Stavro D'Amore
     
  4. Boko Maru

    Boko Maru Sergeant

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    Yes I hear you; all good. I made a mistake anyway in that I thought the signal was for Industrial Production rather than Manufacturing. I watch both, but turns out that deviation is more realistic for Manf than Industrial anyway I believe...

    Thanks :)
     
  5. Stavro D'Amore

    Stavro D'Amore Former FPA Special Consultant

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    ;)
    That’s cool; It can be confusing, especially when you write them LOL :)
     
  6. yurps

    yurps Private, 1st Class

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    ind prod

    Industrial Production is the number to focus on here, not Manufacturing Production
     
  7. samfx

    samfx Private, 1st Class

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    Slippage

    Stavro, You have said that:

    "- Please have a minimal slippage of 7 pips on this release as if triggered".
    "- Also my Bounds are set to 7pips and that is very tight slipage controll"

    How do you control slippage to 7 pips?

    Are you referring to the Enable maximum deviation from quoted price (check box with MT4 on the order window) ? And what that will do?

    Sam
     
  8. church

    church Recruit

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    mistake

    buy2% sell1.5GBPUSD is this correct why dont u relax henry doest make this blunder u v made mistake more than 3time sending wrong signal to public please always relax before displaying the signal this is what u should say BUY2%sell-1.5GBPUSD
     
  9. wswi

    wswi Private

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    hi,

    i'm newb in forex. may anyone here share the right website where i can get those figure for trade?
     
  10. Stavro D'Amore

    Stavro D'Amore Former FPA Special Consultant

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    Hi I use an ECN broker who allows me to enter on limit orders so i set my limit orders 7 pips away from current prices.
     

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