Forex Trading Signal 05/08/08

Hi my dear Trader

If you wish to watch the video, just click on it, and then click on "play" icon. My video version is MUCH MORE detailed so I encourage you to watch it.






HI-res Review.: 5-8-2008review.swf

HI-res Preview.: 5-8-2008preview.swf

Let's first review what happened on Wednesday.

At 4:30 a.m. we had UK Industrial Production, and we got a sell signal. The price moved by about 25 pips. It was a very disappointing trade for me. It seems the number leaked and some traders already were selling before the release. Unfortunately, I lost some money on this trade. Eventually it worked but I was already out.

U.S. Pending Home Sales came out as expected so no trade here.

New Zealand Employment Change came out very low: -1.2 trigger here. NZD/USD moved by about 100 pips so it was a great move. I hope you were able to make some good money here.

Australian Employment Change came out higher than expected by a little over 15 K. The unemployment rate was conflicting here but it deviated only by 0.1 so it was not a big deal. AUD/USD moved by 55 pips but eventually it reversed. Nevertheless, I hope you made a decent money here. I surely did.

Let's talk about Thursday.

1. Thursday, May 08th, 2008 (7:00 a.m. New York Time) UK
At 7:00 a.m. we will have UK Interest Rate statement. There is a significant chance that we might see a surprise cut by BOE. There are 5 out of 61 economists looking for a rate cut. If they cut the rates, I would sell GBP/USD and look for 50 pips or more in the first half hour of the report. Please, watch the video for more details.

2. Thursday, May 08th, 2008 (7:45 a.m. New York Time) EURO ZONE
At 7:45 a.m. we will have European Interest Rate statement. it is expected they will keep the rates unchanged. Most likely it will be a no trade. If they hike the rates, it would be a buy signal on EUR/USD, good for 70 pips. If they cut the rates, it would be a sell signal on EUR/USD, good for 70 pips as well.

3. Thursday, May 08th, 2008 (8:30 a.m. New York Time) USA
At 8:30 a.m. we will have U.S. Initial Jobless Claims. It is expected to come out at 370K. I will trade it with 20K trigger. If it comes out at 390K or higher, I would sell USD/JPY, looking for 30 pips in the first 15 minutes of the report. On the other hand, if comes out at 350K or lower, I would buy USD/JPY and look for 30 pips as well.

4. Thursday, May 08th, 2008 (8:35 a.m. New York Time)
At 8:35 a.m. we will have Trichet speaking. This is only for advances traders. Please watch the video for more details.

That's all for today.

If you want to make some money on nice spikes, try The Secret News Weapon - they also offer 21 days money back policy so try it and see if you can grow your account that way. A nice thing about the SNW is it has not only the autoclick feature but it will also allow you to see other reports so you will immediately know if there are any conflicts, and therefore you would know if you should stay in your trade or get out, or maybe even reenter on the retracement. With a fast market moving I cannot imagine checking on-line forex calendars which are really slow.

If you are interested more in trading news, go to Forex Diamonds - News Trading Education as I am trading there all of mentioned indicators live. Join the room, and get a lot of education from me and other traders that are there. I post trade plans and talk about the trades as well as give entry and exit signal live while the market moves. You can try it with no risk for 21 days so if you don't like it it is free. If you find it useful, then you can stick with us and make grow you live account with us. I am pretty sure you will be satisfied but at least give a try.

Thank you and good luck with your trades.

To Our Success!
-Sir Pipsalot



The video with the signal is recorded by Sir Pipsalot.
For your convenience, this text is written based on the video by Crazy Cat

 

HI PIPSALOT,
I HAVE SENT TWO EMAILS TO payments@secretforexsociety.com, REGARDING SUBSCRIPTION TO FX DIAMONDS, BUT YET TO GET ANY REPLY. COULD U PLZ CHECK AND GET BACK TO ME? THANKS.

 

Cephask,

the website says clearly we DO accept credit cards but does not mention anything about wire transfers. At this time I cannot make any exceptions, especially if you are from Nigeria and therefore it would not be a domestic wire transfer.

The reason I am holding emails regarding wire transfers is because I am going to revise this policy but I need a few approvals for that. The problem with the wire transfer is not to provide bank information but rather dealing with refunds. It would be time consuming for me and also very costly. An incoming wire cost around $15 and outgoing $25 so in case of someone ask for a refund, it would cost $40 dollars in bank fees to do that. Now, the question is who is going to cover that $40? And this is not only $40 dollars fee but mandatory trip to my bank and filling up a huge paperwork (3 pages). I have been sending wire transfers to my family and this is a hell. And you need to go to bank morning - no way to make a wire transfer evening time.

If we ever offer wire transfer option, there will be no refund policy. You would need to test the Diamonds at your own risk.

Thanks,
Crazy Cat

 

News are moving against me

Hello Felix ,

seems there is a problem somewhere because i dont know why news hour even the well calculated actual moves against its direction .I have lost so much money this week on news trading .I dont know what to do because i thought i could be able to raise some money and subscribe for the secret News Weapon .I am devastated . Help me !!!

 

Fred,

When learning ANY new trading system (even the signals here), trade the smallest amount of money possible when you shift from demo to live trading (you did demo trade this first, I hope). Only scale up once you are comfortable both using the system and with the profitability of the system.

Remember, you can't get rich trading forex if you lose all of your money before you understand the risks of trading.

 

News to Me's

yea, me too. i just signed up for the NEWS 21 day program. I'm SPENDING the first 5 days viewing and reviewing all the videos and reading materieal. I have the program up and running. I also have three accounts for which I'm going to be using MB for this. I will start my 'demo' next Tuesday...for the balance of that week, then i'll move into the real world. I'll KEEP YOU POSTED.
fxtender

 

Were you able to make any gain in news trading this , i mean real gain as regards to maybe last week or preceedings .

Secondly, if A rising trend has a positive effect on the nation's currency and the actual moves in that direction as from maybe 10.0K to 14.0K on USD news .If i trade(long) on usd/jpy i hope its not a miscalculation at all . or am i ?If its not then i must tell you that this is how i have learnt to trade the news .

 

I'm mostly a technical trader myself. Other things you have to worry about in news trading include:

Not just the deviation of the actual number released, but also any revisions that come out. A big revision to the prior report can overwhelm a move on the current report.

How firm are the pre-release estimates? If something is expected to come out at 1.6 million, but estimates range from 1.0 to 2.2 million, this will mean a deviation of .4 million either way might have unpredictable consequences.

Other reports released at the same time. A modest deviation on an important report can sometimes fail to move markets if a couple of minor reports have large deviations in the opposite direction.

Occasionally, even when none of these factors come into play, the market will jump in the opposite direction as expected. The predictions here based on report deviations are correct much of the time, but no system of market prediction will work all of the time.

 

Hi fxtender, pls do keep us posted. It's important.

 

Thanks for taking time to explain this. I am thinking of an alternative. I will get back to you.