Hi there my friend 
This is Crazy Cat writing.
Sir Pips is out of town so there is no video available today. I spoke to him over the phone to get triggers so "yes", we will be trading Wednesday's reports. In fact, by that time Sir Pips will be back home and also trading.
I exclusively trade news myself so this is not just typing some triggers anyway.
Let's talk about Wednesday then.
1. Wednesday, April 9th, 2008 (4:30 a.m. New York Time) UK
At 4:30 a.m. we will have UK Industrial Production m/m coming out. It is expected it will came out at 0.1%. Quite honestly, this is not my favorite report to trade. I will give a shot with 0.3 trigger either direction. Such trigger worked OK in the past but do not expect any crazy price movements either. If it comes out at 0.4% or higher, it should be good for the pound and I would buy GBP/USD and expect it to move around 35 to 40 pips in the first hour of the report. On the other hand, if it comes out at -0.2% or more negative, it should be bad enough to take a speculative short trade on GBP/USD and also expect 35 to 40 pips move in the first hour of the report. Pay attention to the other numbers as well. I would not expect the price to move too much if there are any conflicts so with this report I would either take a good, clean signal or I would not trade it at all. Also, as always, pay attention to the price action right before the report as well as to important price levels that may hold the move. For the "afterspike" trade, if the trigger is hit and there are no conflicts, try to get in within 10 pips of the prerelease price and adjust SL smartly.
2. Wednesday, April 9th, 2008 (9:30 p.m. New York Time) AUSTRALIA
Then at 9:30 p.m. we will have Australian Employment Change coming out. It is expected to come out at 10K. I am going to use -15 and +20 trigger. If it comes out at -5 K or more negative, it should be bad for Australian dollar and I would sell AUD/USD. If it comes out at +30K or better, it should be good for Australian dollar and I would buy AUD/USD. If my trigger is hit, the price can move 40 to 50 pips within first hour of the report. However, watch out for the unemployment rate which is expected to come out at 4.1%. A 0.2 deviation is good enough to move the market well but even 0.1 deviation can mute the move if conflicting with the Employment change. In general, higher unemployment is bad for AUD and lower unemployment is good for the Australian dollar. If the unemployment rate is conflicting with the employment change, I would stay away (or get out if you are already in trade using the SNW). Ideally, with a positive deviation on employment change you want to see a negative deviation on the unemployment rate, OR with a negative deviation on the employment change you want to see a positive deviation on the unemployment rate.
If you don't know what I was writing about and you want to learn more about trading news, you can give a try at Forex Diamonds - News Trading Education - we offer 21 days money back guarantied policy so if you don't like that service or it just does not fit your schedule or trading style, or whatever other reason it might be, you will get your money back with no questions asked. Worse case scenario you will just learn something.
If you like to take advantage of nice spikes that happen quite often, then give a try to Forex Secret News Weapon - they also offer 21 days money back no question asked policy. Many people actually use both services as they work together very well.
Anyway, enough talking. Thank you for coming and good luck with your trades.
To Our Success!
-Sir Pipsalot & Crazy Cat
This is Crazy Cat writing.
Sir Pips is out of town so there is no video available today. I spoke to him over the phone to get triggers so "yes", we will be trading Wednesday's reports. In fact, by that time Sir Pips will be back home and also trading.
I exclusively trade news myself so this is not just typing some triggers anyway.
Let's talk about Wednesday then.
1. Wednesday, April 9th, 2008 (4:30 a.m. New York Time) UK
At 4:30 a.m. we will have UK Industrial Production m/m coming out. It is expected it will came out at 0.1%. Quite honestly, this is not my favorite report to trade. I will give a shot with 0.3 trigger either direction. Such trigger worked OK in the past but do not expect any crazy price movements either. If it comes out at 0.4% or higher, it should be good for the pound and I would buy GBP/USD and expect it to move around 35 to 40 pips in the first hour of the report. On the other hand, if it comes out at -0.2% or more negative, it should be bad enough to take a speculative short trade on GBP/USD and also expect 35 to 40 pips move in the first hour of the report. Pay attention to the other numbers as well. I would not expect the price to move too much if there are any conflicts so with this report I would either take a good, clean signal or I would not trade it at all. Also, as always, pay attention to the price action right before the report as well as to important price levels that may hold the move. For the "afterspike" trade, if the trigger is hit and there are no conflicts, try to get in within 10 pips of the prerelease price and adjust SL smartly.
2. Wednesday, April 9th, 2008 (9:30 p.m. New York Time) AUSTRALIA
Then at 9:30 p.m. we will have Australian Employment Change coming out. It is expected to come out at 10K. I am going to use -15 and +20 trigger. If it comes out at -5 K or more negative, it should be bad for Australian dollar and I would sell AUD/USD. If it comes out at +30K or better, it should be good for Australian dollar and I would buy AUD/USD. If my trigger is hit, the price can move 40 to 50 pips within first hour of the report. However, watch out for the unemployment rate which is expected to come out at 4.1%. A 0.2 deviation is good enough to move the market well but even 0.1 deviation can mute the move if conflicting with the Employment change. In general, higher unemployment is bad for AUD and lower unemployment is good for the Australian dollar. If the unemployment rate is conflicting with the employment change, I would stay away (or get out if you are already in trade using the SNW). Ideally, with a positive deviation on employment change you want to see a negative deviation on the unemployment rate, OR with a negative deviation on the employment change you want to see a positive deviation on the unemployment rate.
If you don't know what I was writing about and you want to learn more about trading news, you can give a try at Forex Diamonds - News Trading Education - we offer 21 days money back guarantied policy so if you don't like that service or it just does not fit your schedule or trading style, or whatever other reason it might be, you will get your money back with no questions asked. Worse case scenario you will just learn something.
If you like to take advantage of nice spikes that happen quite often, then give a try to Forex Secret News Weapon - they also offer 21 days money back no question asked policy. Many people actually use both services as they work together very well.
Anyway, enough talking. Thank you for coming and good luck with your trades.
To Our Success!
-Sir Pipsalot & Crazy Cat
Last edited: