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Upcoming Signals Overview (May 24 - May 28)

Discussion in 'Current Forex Trading Signals' started by Crazy Cat, May 23, 2010.

  1. Crazy Cat

    Crazy Cat Former FPA Special Consultant

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    Hi there :)

    This is Crazy Cat with an overview of the upcoming week.

    I will email you 24 hours before the time of each report, and tell you exactly how to trade it. This is just an overview.

    1. Tuesday, May 25th (04:30 New York time) UK
    We will be trading UK GDP
    Forex News Trading | Details and History for GBP GDP q/q

    2. Thursday, May 27th (08:30 New York time) USA
    We will be trading US GDP
    Forex News Trading | Details and History for USD GDP Annualized

    3. Friday, May 28th (09:42 New York time) USA
    We will be observing Chicago PMI
    Forex News Trading | Details and History for USD Chicago PMI

    To see the history of each report with charts, simply click the "file box" to the right of each report.

    Let me repeat myself...this is just an overview email, you will be receiving an email for each individual economic report, with exact instructions on how to trade it. You will get these emails 24 hours prior to their release time.

    Good luck
    --Crazy Cat
     
    #1 Crazy Cat, May 23, 2010
    Lasted edited by : Sep 8, 2016
  2. sonny77

    sonny77 Private

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    Hi Grazy Cat,

    Thank you for your kind attention
     
  3. mukiri

    mukiri Recruit

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    how do we get the news.

    hey cat!
    Thank you for the signals but How do we get the results of the news once they are out or where should we wait for the news to be released? thank you.:D
     
  4. FromAlaska

    FromAlaska Recruit

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    Thanks

    Crazy Cat , thanks for preview
     
  5. kingbay

    kingbay Recruit

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    hi crazy cat

    thank you for info....
     
  6. ramksanj

    ramksanj Recruit

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    Hi Crazy Cat,
    Thanks very much for the info.
     
  7. segun omo

    segun omo Recruit

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    THKS FOR YOUR CONCERN ABOUT WE FOREX TRADER BUT PLS HOW CAN WE NOW WHEN TO PULL THE TRIGER AND GET THE ACCURATE RESULT, i WILL BE MUCH MORE GRATEFUL IF YOU CAN INVOLVE THE ACCURATE TIME TO PLACE THE TRADE AND GET THE RIGHT RESULT
     
  8. ethirtysix

    ethirtysix Recruit

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    Thank you crazy cat.

    Hi all this is a quote from felix's chapters which he posts weekly and he explains how to make money with fundamental analyse. I suggest that you read them all from the 1st one..
    By that occasion i would like to thank him and those chapters gave my life anew sight to aim to.
    Rule#1
    You must use an ECN broker, in order to trade this system. Remember we talked earlier about many forex brokers being bucket brokers? You cannot use this system on those bucket brokers, because they will raise their spread at news times, and this increased spread can stay for several minutes. Or if they don’t raise the spread, you’ll try to put orders into their system, and for several minutes, you’ll keep getting really bad requotes.

    ECN stands for Electronic Communication Network, and these brokers are true brokers that connect you with the banks, so during the news, they will usually not give you fills before the spike, but within few seconds of the spike, their spreads will become normal, and you will be able to open and close trades with them with normal spreads. Examples of ECN brokers are Dukascopy.com, MBtrading.com, hotspotfx.com, atcbrokers.com. There are few others. I recommend you open a demo account with MBTrading.com, and try this system on their demo account.

    Rule#2
    Do not place a trade with this system, unless the spread is 3 pips or lower. 2 pips or lower is preferable. You want to watch out for spread, because if it’s too high, you will give away the edge of this system to your broker.

    So, I assume that you don’t really know much about economic indicators. You don’t know what those 50 most important reports are. If such is the case, then sign up for FPA free trading signals that get published by Crazy Cat. Here is the link:
    http://www.forexpeacearmy.com/forex-...ading-signals/

    So Crazy Cat will tell you which economic events to look for, and what time they are coming out. He will also give you “triggers” for each report, but these triggers are not important for this particular trading system.

    Come to your computer a little before the time of the report, and open up the official online clock for New York Time. Here is a link: The official U.S. time - clock

    About 5 seconds before the report comes out, watch very closely the price for the currency on your trading platform. The price that you see is the pre-release price. Make a mental note of what that price is. If you have bad memory, then quickly write that price down. Don’t worry about watching charts, just look at the price. As soon as the news comes out, you should see this price starting to move, especially if the actual number is much more different than expected number.

    If you see the price move by 15 pips or more in one direction, within the first 30 seconds of the report, you will trade this report. This initial move is called “the spike”. Wait for the spike to complete, it may take 5 to 30 seconds, and then the price will start retracing. Wait for the retrace to complete, and once it’s complete, and the price reverses and starts moving in the direction of the spike, place a trade with a 15 pips stop/loss and 25 pips take/profit. Then simply walk away or watch, and let happen whatever is meant to happen.

    I wish I could show you some charts, but I can’t, because you’ll be playing “tick by tick” price action, which cannot be reflected in a chart. Let me give you an example though.

    Let’s say there is an important report coming out, and you are watching your trading platform at 8:30 am New York Time. You chose to trade EUR/USD. You look at your trading platform 5 seconds before, and you see a price of 1.2350/1.2352, then all of a sudden, the price starts moving up. It jumps to 1.2360, then takes a second or two to breath, then jumps again to 1.2367, so you already know that it’s going to be a trade. Then the price goes to 1.2374, goes like 74, 75, 76, 75, 74, 73, 74, 73, 72, 74, 72, 70, and basically very steadily or very suddenly starts coming down.

    It keeps coming down, and you let it happen, then let’s say it goes to 1.2362, and goes 62, 61, 62, 63, 64, 63, 64, 62, 64, 65, 66, 65, 67, 68, 69, so you basically see that it starts to turn around, and starting to go up again. So you click your buy button. Once you are in, place a stop/loss and take/profit points. After this, the price will be playing out quite unpredictably, going up, down, up again, down again, but since your trade will be in the direction of the report, more often than not, you will gain.

    With this strategy, you don’t really care about what number came out, so you don’t even have to worry about looking at economic calendar. You simply care about the price, because price is king. It is price that defines whether economic report matters or not. If the price goes up right away by 15 pips or more, it means that people care about this report enough to bring the price up, and most likely these people will bring the price up again after the first retracement.

    Rule#3
    If the first retracement goes below the pre-release price, you don’t do this trade. So to go back to our example, where the EUR/USD price was at 1.2352, and then went up to 1.2374, before starting to retrace, if you see EUR/USD rapidly or slowly going down, without having clear signs of reversing for a second wave, and if you see it drop below 1.2350, then forget about this trade. The pre-release price is your support, if it gets decisively broken, then you don’t place a trade. But if it doesn’t get decisively broken, and you see like 1.2352, 51, 50, 51, 52, 50, 49, 50, 51, 53, 54, 56, then it’s reversing right at that pre-release level, and you should buy.

    Rule#4
    Hold your trade for a maximum of 45 minutes from the time the report came out. If neither your stop/loss nor take/profit were hit, then close your trade at whatever price you see. If your target is not hit in the first 45 minutes, most likely it will not hit. And you don’t have to believe a word I say, when getting these free news signals from Crazy Cat, he will send you charts for each report, so you will be able to see the charts for previous reports, and see what I am talking about…

    I never really had these “hard” rules with stop/losses and take/profits when I was running my Forex Diamonds room. Because I had so much experience with trading the news, I could just feel what’s happening. Sometimes you get this second wave move, after the first retracement, and it goes up in your direction by 10 pips, and it just stalls there for a while, and you just know that it’s not going any further, so you close the entire trade, and only take 10 pips, or you close half at 10 pips, put the other at break-even, and see what happens to the other half. Sometimes I would be right about these “feelings”, and other times I would be wrong. Sometimes I would be happy that I closed my trade early, because otherwise it would stop me out, while other times, I would cut a trade short at 10 or 12 pips, and it would right away go up and hit the 25 pips target.

    I have traded second waves on hundreds of these reports, so I know that if you approach this very systematically, and you simply follow the simple rules above, you will certainly overall profit. As you trade more and more of these reports, you will see many scenarios that are simply impossible to discuss through writing. You will see that certain currencies have lower ranges than others, so you will slightly reduce your stop/loss and take/profit targets. You will also see that certain reports and certain currencies cause much bigger moves, so you may increase the stop/loss and take/profit points. You will also see sometimes very strong price point, and your take/profit level is falling right at that price point or even a bit above, so you will lower your take/profit points to slightly below these levels. I can talk all day about these scenarios, and all of that talk is useless. Use this system in the exact way it’s taught, and if you see logical ways of tweaking it to your advantage, then do it.

    Suggested Action: Make it a point to place 10 trades with this system, without tweaking it in any way. The profits that you see may satisfy you so much that you would rather keep this system the way it is, without tweaking it in any way. Just be aware of spreads, and as much as possible use this system on currencies with spreads between 1 and 2 pips, such as EUR/USD and USD/JPY. If you start trading exotics with this system, or start using it on bucket brokers, and start paying spreads in excess of 5, 6, 7 pips, then you are on your own… Don’t be coming back and blaming me that it doesn’t work. You have to stay with as conservative currencies as possible, that are mostly USD and JPY crosses. Examples: (EUR/USD, USD/JPY, GBP/USD, AUD/USD, NZD/USD, USD/CAD, USD/CHF, CAD/JPY, AUD/JPY, EUR/JPY, NZD/JPY are some of the examples). Crazy Cat will be suggesting which currency pairs to trade, when sending his signals.
     
  9. thurskis

    thurskis Recruit

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    ty for signals
     

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