Forex News Trading: Trades for week of November 22 – 27, 2015

Barry

Last week saw 2 poor trades. Both spiked just barely far enough to hit one of our orders due to the low deviations.

Now we are in the last week of the month. This week is a holiday week in the US with Thanksgiving on Thursday, an occasion we take to give thanks, mostly by overeating and drinking and watching football all day.

A quick scan of the schedule highlights exactly 0 trades worth posting this week. There are a couple you could try to sate the addiction, but I wouldn’t anticipate making any money on these. It’s more for sport.

Tue 8:30 AM – US Prelim GDP q/q (USD/JPY, Set the triggers to .2 and check the box. Set country to 1 or get the trades in by 1 second after the posted time.)

Wed 8:30 AM – US Core Durable Goods (USD/JPY, Try a trigger of .3 and check the box. Set country to 1 or get the trades in by 1 second after the posted time.)

Fri 4:30 AM – UK Second Estimate GDP q/q (GBP/USD, Set the triggers to .1 and check the box. Set country to 2 or get the trades in by exactly the posted time.)

That’s it. Enjoy the break. The following week will have a bunch, though as we get into December and closer to the Holiday season, trading will dry up for a couple weeks and then pick back up in January with a vengeance.

Forex News Trading: Trade for Friday, November 20, 2015

Barry

The UK Retail Sales trade sure didn’t move well this morning. It barely hit our trigger and got just enough movement to take in the sell orders, then started trickling back up. I am trying a lot of new brokers and noticed there was some slippage on some of them. With a small move like we had, slippage is a bad sign.

8:30 AM EST
CAD Core CPI – Change in the price of goods and serviced purchased by consumers.
USD/CAD

In August we saw deviations of 0 and 0 with no movement.

In September we saw the same thing. The data came out right on time.

In October we saw -.1 and -.1 with a 21 pip spike. The spike was not very big but it did push a few more pips up before starting back and hitting my stops. Over the course of an hour it pushed up 100 pips, but did this very slowly.

I would not expect much from this unless we get a deviation of at least .2. Additionally Retail Sales is released at the same time and could have equal influence on the movement. Retail Sales will come out on row 3.

Trade smaller lot sizes than normal, maybe half what you normally trade, due to the additional data. If all rows come out in the same direction we should get a good move, but your odds go way down because of this.

ORACLE TRADER – Set the medium to .2 and safe to .3, trading half of what you normally trade.

STRADDLE PRO – Set the triggers to .1 and check the box. Get the trades in by exactly the posted time. If you are using version 2.37.36 or higher, set country to 4.

Forex News Trading: Trade for Thursday, November 19, 2015

Barry

Sorry this is so late. Had to till up the garden before the rain and cold get here tomorrow.

4:30 AM EST
UK Retail Sales – Change in the value of sales at the retail level.
GBP/USD

In August we saw a deviation of -.3 with a 17 pip spike. The server was down. Came out just above the trigger and spiked far enough to just hit 5 pips of profit before retracing. I got out fast and made a couple pips.

In September we saw 0 and -.3 with no movement.

In October we saw 1.3 and 1.4 with a 30 pip spike. It pushed up about 30 pips a couple minutes before the trade absorbing a lot of the potential. The data came out right on time with a nice 30 pip spike. Then it stayed in that area rather than continue up. After a few minutes it started falling back. This was a huge deviation that would have produced 50 or 60 pips had the early move not happened.

Again you need to be aware of pre-news movement. If you see more than about 40 pips in the couple hours before the trade, you might want to lower your lot sizes.

Expect the data and spike to occur exactly at the posted time.

ORACLE TRADER – Set the medium to .4 and safe to .7, trading half lots on a medium and full lots on a safe.

STRADDLE PRO – Set the triggers to .3 and check the box. Get the trades in by exactly the posted time. If you are using v2.37.36 or higher (there is now a 2.37.37 that is being tested which fixes a timing issue), set country to 2.