This email is probably going to be fairly long. I want to explain in some detail what occurred today. In this email I will explain the 2 releases we traded and provide a link to the videos of each. The first trade was the UK CPI which was expected at .3% and was released .1% higher at .4%. This gave a long biased however it did not hit my trigger for a safe trade. The software I have developed for the trade room signals my safe trade but also signals a medium risk trade for those with a slightly higher risk tolerance. Today we got a signal for a medium risk trade and quite a few of the people in the trade room entered and did very well. The lowest profit report was 12 pips. followed by 16 pips and then many held out for 20 to 30+ pips. In the video my suggested level for a close was 1.8750 and if you go to your charts you will see that is the first place it made a correction. Once it hit that level it fell almost 40 pips. obviously a good place to exit. To see a video of this trade click here This may take a little while to load.
The next release was a little disappointing for myself. Not because it was a bad trade because it was a great trade but many people got a really bad fill. It was strange because people either got filled in the low 30s or the 60s. It seemed to vary and was dependant upon the broker. Fortunately I didn’t lose on this trade but didn’t make any money either. We were watching the US Trade Balance and it hit our trigger of .5b and moved over 30 pips very rapidly allowing for many to take quick profits. Many of those that got a bad fill I recommended riding it out as long as it stayed above 1.8715 area and many did which gave them profit or at least break even however there were traders that took losses as well. I always try and be very candid with everyone and today was a successful call however some did take losses and that is unfortunate however you have to keep moving forward and look for the next trade. To see a video of this trade click here. Again this may take a few seconds to load. This video is much shorter than the other.
Tomorrow I wont be trading any news however with the summer slow down that occurs in news trading I have started to do a little more technical trading. There is currently a nice wedge forming on the GBP/USD and I will be looking for a break out of this pattern. Then next news trade we have is on Thursday so stand by. In the mean time Good Luck!!!
