Forex Trading Signal 11/19/08

Crazy Cat

Former FPA Special Consultant
Hi there my Forex friend :)

Let's first review what happened on Tuesday.

As you know, I did not want to trade UK CPI. In fact, in the DIamonds room I wrote that I did not want to trade it at all, and I strongly recommended not to trade it with SNW. Instead, I went to bed and then I woke up morning, looked at the price action with a smile and untouched money on my forex account. ;-)

Then we had US PPI. As I had said, I never trade it and the price action was not impressive either. Sure, there were some conflicts but come on, this was PPI so what else to expect? As expected, no regrets here. ;-)

Anyway, let's talk about Wednesday.

Well, quite honestly, another slow day.

1. Wednesday, November 19th, 2008 (4:30 a.m. New York Time) UK
For BoE minutes, it's a bit too difficult to preview, but the tone of the minutes won't have as much of an impact since we got their Quarterly Inflation report last week. This is not for beginners, so I don't recommend trading it if you are new. If you are advanced, then you don't need my help ;-)

2. Wednesday, November 19th, 2008 (8:30 a.m. New York Time) USA
Then we will have US Core CPI m/m. Sir Pips considers trading it on EUR/JPY with buy entry on a -0.1 deviation and sell EUR/JPY on a +0.1 deviation but he also says to be extremely careful of a conflict like we saw on US PPI today. I guess this is rather for the afterspike trade and he is good in this stuff. However, since I am a SNW user, I am not going to trade it with the SNW. US CPI was always weaker than UK CPI, and we just had UK CPI 20 hours ago so don't expect too much from US CPI. Well, if it is going to move the market, let it be. I cannot lose when I don't trade, and when I trade then I make money most of the time. This one is not a sure trade so I am not interested.

So is avoiding trading the way how I make money? Nope. Well, actually yes. Yes and no. I trade what is tradable because I can only get what the market gives. Like you cannot rush an artist, you cannot tell the market what to do. On Thursday we will have UK Retail Sales, I will be trading this one. We had a few good reports this month, my account is up well over 10% so I cannot complain.... Part of Forex game is not losing money. This is as much important as making money.

That's all for Wednesday.

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 14-days $27.00 trial. Go to Forex Diamonds and take advantage of this offer. This offer is for NEW customers only.

To Our Success!
-Crazy Cat && Sir Pips