Hi there my forex friend 
Felix threw Sir Pips a bone and Sir Pips finally received a wire transfer for $7.45 ;-) so we have videos today. Nevertheless, he is pissed off because this will be accounted as self-employed, and that means he will need to pay 15.4% tax on it.
Well, probably I should not joke about little money as probably there are some people who may take it seriously and for them $1.50 raise might be a goal for their life. But this is what it is when you deal with forex - when you are able to make just in 5 or 10 seconds more than some people make a month or two going to a regular "9 to 5" job, talking about $1.50 or $7.45 seems to be like a joke. For me, $1.00 used to be a lot of money; now, I don't care if I spend much more than this although I did not achieve that much like Sir Pips who received phone calls from Oanda, demanding him to stop making crazy money on Oanda account or close an account with them....... yeah - true story. Indeed, when you start receiving phone calls from your brokers because they are "concerned" about your profits you make with them, this proves you just found what tens of thousands of people are looking for - a way to make real money.
I seriously wish everyone to be able to make enough money on Forex that you can say you are financially independent. It is not easy to get there, but certainly some people got there, and you might be the next.
So, of course that salary issue with Felix was a joke. Sir Pips was just out of town.
Anyway, enough talking, let's go back to business.
Hi-Quality Preview/Review:
1) 8-22-2008r-p.swf
Long-term Outlook:
2) 8-22-2008outlook1.swf
3) 8-22-2008outlook2.swf
Let's first review what happened on Thursday.
At 4:30 a.m. we had UK Retail Sales. It deviated pretty well. Unfortunately, it seems this report leaked and the price start moving 10 sec. before the report. GBP/USD moved greatly but probably some traders were screw up on the late signal. The retracement occurred very fast as well.
Canadian CPI came out very close to expectations so no trade here.
Let's talk about Friday.
1. Friday, August 22nd, 2008 (4:30 a.m. New York Time) UK
At 4:30 a.m. we will have UK GDP q/q coming out. It will be 2nd revision. Probably 0.1 deviation is tradable but you must be very careful with such small trigger. 0.2 deviation should be much more safe to trade. It is expected to come out at 0.1%. If it comes out 0.3% or higher, I would buy GBP/USD and expect 40 pips move. If it comes out at -0.1% or more negative, I would sell GBP/USD and expect 40 pips move as well. Take your profits in the first 5 to 10 seconds.
Here is an interesting message I got from our SNW department (thank you Snow Man): "Hi Crazy Cat, tonight’s UK GDP report is a bit of a paradox. This is the ‘Revised’ version (2nd estimate). Last month was the ‘Preliminary’ (1st estimate), and next month is the Final. If the Revised version ever deviates it is almost always by just 0.1. Also, the economists’ estimate is usually the same as the previous month’s actual value. But here’s the thing: last month’s actual value was 0.2. There are 34 economists who have given their estimates on the report. Of those 34 most all think tonight’s value will be either 0.2 or 0.1. (A few think 0.0 and one 0.3.) The ratio of those who think 0.1 to those who think 0.2 is about 3:2. So, the “official economists’ estimate” is 0.1. However, if it deviates by 0.1, then chances are the actual value will be 0.2 – meaning there was a deviation of 0.1 from the economists’ estimate, BUT the value will be exactly same as last month’s value. On the other hand, if there is no deviation and the value comes out as 0.1 matching the economists’ estimate, then there is a change from last month’s value. When it is all said and done, I may just sleep through this one. Either there will be so much attention that there will be a move regardless of whether it comes out as 0.1 or 0.2 (and a huge move if it comes out as 0.0 or 0.3), or there will be so much confusion that there will be a muted spike and a slow gradual move afterward. I think I’ll take a shower and go to bed. I haven’t had much sleep today, so I’m considering just sleeping though this one."
Well, this would confirm to watch out for 0.1 deviation and trade 0.2 deviation (which probably did not happen).
2. Friday, August 22nd, 2008 (10:00 a.m. New York Time) USA
At 10:00 a.m. Bernanke will be speaking. This is not for beginners for sure. If you want to trade it, please watch the video.
TRADE LIVE WITH SIR PIPS FOR FREE!
Sirpipsalot has a live trading room, in which he trades these news reports. There, he shares his trades in real time, including exact entries and exits, and detailed explanation for every entry and exit. The service costs $299 per month, but we have a 7-days FREE TRIAL. Go to Forex Diamonds to sign up for the FREE trial. This offer is for NEW customers only.
To Our Success!
-Sir Pipsalot & Crazy Cat
The video with the signal is recorded by Sir Pipsalot.
For your convenience, this text is written based on the video by Crazy Cat
Felix threw Sir Pips a bone and Sir Pips finally received a wire transfer for $7.45 ;-) so we have videos today. Nevertheless, he is pissed off because this will be accounted as self-employed, and that means he will need to pay 15.4% tax on it.
Well, probably I should not joke about little money as probably there are some people who may take it seriously and for them $1.50 raise might be a goal for their life. But this is what it is when you deal with forex - when you are able to make just in 5 or 10 seconds more than some people make a month or two going to a regular "9 to 5" job, talking about $1.50 or $7.45 seems to be like a joke. For me, $1.00 used to be a lot of money; now, I don't care if I spend much more than this although I did not achieve that much like Sir Pips who received phone calls from Oanda, demanding him to stop making crazy money on Oanda account or close an account with them....... yeah - true story. Indeed, when you start receiving phone calls from your brokers because they are "concerned" about your profits you make with them, this proves you just found what tens of thousands of people are looking for - a way to make real money.
I seriously wish everyone to be able to make enough money on Forex that you can say you are financially independent. It is not easy to get there, but certainly some people got there, and you might be the next.
So, of course that salary issue with Felix was a joke. Sir Pips was just out of town.
Anyway, enough talking, let's go back to business.
Hi-Quality Preview/Review:
1) 8-22-2008r-p.swf
Long-term Outlook:
2) 8-22-2008outlook1.swf
3) 8-22-2008outlook2.swf
Let's first review what happened on Thursday.
At 4:30 a.m. we had UK Retail Sales. It deviated pretty well. Unfortunately, it seems this report leaked and the price start moving 10 sec. before the report. GBP/USD moved greatly but probably some traders were screw up on the late signal. The retracement occurred very fast as well.
Canadian CPI came out very close to expectations so no trade here.
Let's talk about Friday.
1. Friday, August 22nd, 2008 (4:30 a.m. New York Time) UK
At 4:30 a.m. we will have UK GDP q/q coming out. It will be 2nd revision. Probably 0.1 deviation is tradable but you must be very careful with such small trigger. 0.2 deviation should be much more safe to trade. It is expected to come out at 0.1%. If it comes out 0.3% or higher, I would buy GBP/USD and expect 40 pips move. If it comes out at -0.1% or more negative, I would sell GBP/USD and expect 40 pips move as well. Take your profits in the first 5 to 10 seconds.
Here is an interesting message I got from our SNW department (thank you Snow Man): "Hi Crazy Cat, tonight’s UK GDP report is a bit of a paradox. This is the ‘Revised’ version (2nd estimate). Last month was the ‘Preliminary’ (1st estimate), and next month is the Final. If the Revised version ever deviates it is almost always by just 0.1. Also, the economists’ estimate is usually the same as the previous month’s actual value. But here’s the thing: last month’s actual value was 0.2. There are 34 economists who have given their estimates on the report. Of those 34 most all think tonight’s value will be either 0.2 or 0.1. (A few think 0.0 and one 0.3.) The ratio of those who think 0.1 to those who think 0.2 is about 3:2. So, the “official economists’ estimate” is 0.1. However, if it deviates by 0.1, then chances are the actual value will be 0.2 – meaning there was a deviation of 0.1 from the economists’ estimate, BUT the value will be exactly same as last month’s value. On the other hand, if there is no deviation and the value comes out as 0.1 matching the economists’ estimate, then there is a change from last month’s value. When it is all said and done, I may just sleep through this one. Either there will be so much attention that there will be a move regardless of whether it comes out as 0.1 or 0.2 (and a huge move if it comes out as 0.0 or 0.3), or there will be so much confusion that there will be a muted spike and a slow gradual move afterward. I think I’ll take a shower and go to bed. I haven’t had much sleep today, so I’m considering just sleeping though this one."
Well, this would confirm to watch out for 0.1 deviation and trade 0.2 deviation (which probably did not happen).
2. Friday, August 22nd, 2008 (10:00 a.m. New York Time) USA
At 10:00 a.m. Bernanke will be speaking. This is not for beginners for sure. If you want to trade it, please watch the video.
TRADE LIVE WITH SIR PIPS FOR FREE!
Sirpipsalot has a live trading room, in which he trades these news reports. There, he shares his trades in real time, including exact entries and exits, and detailed explanation for every entry and exit. The service costs $299 per month, but we have a 7-days FREE TRIAL. Go to Forex Diamonds to sign up for the FREE trial. This offer is for NEW customers only.
To Our Success!
-Sir Pipsalot & Crazy Cat
The video with the signal is recorded by Sir Pipsalot.
For your convenience, this text is written based on the video by Crazy Cat
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