US ISM Provides Up To 50 Pips / Trade Call for October 3, 2008
Written by Dustin Pass on October 2, 2008 – 3:14 pm -US ISM PROVIDES UP TO 50 PIPS
Our last live trade call was yesterday when we were watching
the US ISM Manufacturing report. Fort this report we were
looking to sell the USDJPY if the number came out at least 2.5
worse than expected. The actual number came out with a -6.0
deviation, so it met our safe trigger and we entered a trade.
We had reports from traders that they made up to 50 pips of
profit on this trade. Unfortunately we did not get a video of
this trade, but some of our traders’ comments are below:
10:04:16 (Bradley) 4 lots @ 105.763 closed out 4 lots @ 105.678
10:05:49 (fastball) 7 pips better than yesterday!
10:06:13 (Dee) 105.76 for me…
10:08:21 (jasons) In at 105.79 out at 105.64 & 105.69 ****; In
at 105.88 out at 105.69 ******
10:11:06 (LarryR) Requote ****, ******, *****. In at **** at
105.733 for 53 pip gain. Great!!
10:12:56 (gregorym) 30 pips on one, 39 on another
10:14:04 (jonathan_t) too scared got 14 pips
10:17:06 (Bradley) For the first time emotion also effected me,
have no idea why AND that’s why I closed out @ 9 pips today.
Normally feel very comfortable with news trading have been with
you for a long while.
OUR NEXT LIVE ON THE NEWS TRADE CALL
We will have an opportunity to trade tomorrow when the US Non
Farm Payrolls report is released at 8:30 am EDT. We will focus
on the Non-Farm Payrolls figure, which is expected to be -100k
jobs. We have changed our focus on this one to the USD/JPY as
it has moved better than the GBP/USD in recent months. A
higher than expected number will be good for the USD and signal
a long on the USD/JPY, and a lower than expected number will be
bad for the USD and signal a short on the USD/JPY. We will be
looking for a deviation of 50k on this report to trigger a safe
trade.
This report last met our safe trigger in May, and we had
traders report profits of up to 75 pips on the USD/JPY. To see
a video of May’s trade, click on the link below:
http://www.tradingliveonthenews.com/vid/USNFP050208/
This is our current outlook for this trade; however, it is
subject to change as market conditions may change by tomorrow.
Be sure to log in to the Live Trade Room 15 minutes prior to
the releases to get my commentary on this potential trade.
Good Luck!!!!
Posted in US News Data |