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Signals Review (March 01 - March 05)

Discussion in 'Current Forex Trading Signals' started by Crazy Cat, Mar 7, 2010.

  1. Crazy Cat

    Crazy Cat Former FPA Special Consultant

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    Hi there :)

    This is Crazy Cat, with the review of the week.

    This week, we were watching 6 economic indicators. 1 of them hit the triggers that I sent to you. Let's review...

    1. Monday, March 01st (08:30 New York time) CANADA

    I said if Canadian GDP m/m comes out at 0.6 or higher, USD/USD will probably go down by 30 pips or more in the first 45 minutes of the report.

    It actually came out at 0.6 and USD/CAD actually moved by 60 pips. I am really surprised it moved so much.

    Here is the chart:
    Forex news trading currency exchange charts

    2. Monday, March 01st (19:30 New York time) AUSTRALIA
    Australian Retail Sales

    This is really interesting. When I wrote the signal, it was expected to come out at 1.0, then right before the reports that estimate went down to as low as 0.5, and then the actual number came out at 1.2. From 0.5 to 1.2, it's a tradable deviation but since people originally expected it to come out 1.0, the move itself could be muted. Also, we've got negative revision and a conflict with Building Approvals. I actually traded it on the spike and when I saw such muted spike, I exited immediately and I actually grabbed a few pips profit. But I was lucky, and I know a lot of people did not make it. Well, things like this happen although still it was profitable to me.

    Here is what happened:
    Forex news trading currency exchange charts

    3. Monday, March 01st (22:30 New York time) AUSTRALIA
    Australian Interest Rates

    They did in fact hike the rates to 4.00% but because about 30% of economists did expect them to keep the rates at 3.75% level, we saw a spike up. When things like this happen, I try to trade with smaller positions and be ready to exit quickly, and that's what I did. I actually got only one fill but still grabbed instant 25 pips on the spike on AUD/USD. I must admit, however, this was not an easy trade.

    Here is the chart:
    Forex news trading currency exchange charts

    4. Wednesday, March 03rd (04:28 New York time) UK
    UK Services PMI

    I said it it comes out at 56.0 or more, GBP/USD would probably go up by 35 pips. It actually came out at 58.4 so it was really big deviation, and GBP/USD went up by about 60 pips. It was a nice trade because it gave an opportunity to enter after the spike as well. I got no fill on the spike but I know some people successfully traded the afterspike strategy.

    Here is the chart:
    Forex news trading currency exchange charts

    5. Wednesday, March 03rd (10:00 New York time) USA
    US ISM Non-Manufacturing

    I said if it comes out at 53, USD/JPY would probably go up by 20 pips. It came out at exactly 53 but USD/JPY came up by about 15 pips or so. It's still very crappy indicator to trade but at least you should not lose a lot of money on this report as within first 10 minutes it was well above the prerelease price with a very random price action. So you either lost a few pips or made a few pips, not a big deal.

    I decided not trade the spike on this report so it was a no trade for me. If I traded the spike, I would probably grab a few pips but it was conflicting with my schedule so I did not trade it.

    Here is the chart:
    Forex news trading currency exchange charts


    It was a strange week with a few surprises (e.g. Canadian GDP or even Canadian IVEY), a few disappointments (e.g. Australian Retail Sales), a few fast entry/exit trades (e.g. Australian Interest Rates) and a few slow movers like US ISM Non-Manufacturing. I am overall profitable for this week although it was not a huge week for me. I hope you made a few pips as well.

    Anyway, have a good Sunday!
    --Crazy Cat
     
    #1 Crazy Cat, Mar 7, 2010
    Lasted edited by : Sep 8, 2016
  2. VirginFX

    VirginFX Private

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    Thanks for the review Crazy Cat! Can you please tell me if you use an auto-click software, and if so, what it is and how I can get it?
     
  3. Randagio

    Randagio Private

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    Thanks Crazy Cat, i was one of the people trading the after spike on UK PMI, so i can say it was a good week...
    see ya!

    -------------------
    Pips.it
    The Italian partner to Dukascopy
    45% commissions rebates, each month, for ever...
     
  4. Jorge Varon Toro

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    autoclick



    si quieres tener informacion sobre el auto-click software, escribeme a guarlokmusic@hotmail.com :)
     
  5. BaronJ

    BaronJ Recruit

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    US NonFarm Employment
    Forgot to mention it?
    Well it made a really nice move on the USD/JPY.
     
  6. Lucas Gremista

    Lucas Gremista Private, 1st Class

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    According to the e-mail in the past sunday, we were watching 12 indicators, and for me, 2 of them hit the triggers, and I made 46 pips, it was good.

    But still can't find a good website for news, I always get caught in the after spike.

    And US non farm payroll, even though it moved big time, didn't hit the trigger from FPA, so I didn't trade.
     
  7. Paulguynj

    Paulguynj Recruit

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    Which broker do you use?

    You seem to have great success entering and exiting trades during news events. I have bad luck with my trades and get messages like server too busy, requoted prices,heavy slippage,huge spreads and etc. I have heard the same complaints from other friends about being unable to enter or exit trades with success during news events. I have even heard complaints about the trading platform freezing during news events and etc.
    What brokers do you recommend for news trading since I have heard most brokers are not very good to trade the news on. You seem not to have problems with server being too busy,freezing platforms or huge slippage.
    Thank You!
     
  8. Peter88

    Peter88 Recruit

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    Thank you Crazy Cat,

    I found a lot of info about news trading. I will continue reading and find all the info. I think Dustin is charging too much despite he does good job. I am looking for affordable news system.

    Thanks again
    Peter88
     
  9. VirginFX

    VirginFX Private

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    Hi, I just speak English. Can you please translate? Thanks!
     
  10. Jackcapecod

    Jackcapecod Recruit

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    US Non Farm Payroll

    Ditto BaronJ ! .. USD/JPY made a nice move after the opening. Nice call on the report Crazy Cat...:)
     

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