Last week we didn’t have a lot of news events that we were trading but it was a good example of why quantity is not as important as quality of trades. Although we only had 4 news releases that we watched there were substantial profits.
One of the releases did not produce a signal so we passed on it and that was the US ISM Manufacturing. The other three produced profits on either safe or medium risk trades. The first one that produced a signal was the UK Industrial production.
UK Industrial Production
This release didn’t hit my safe triggers however the medium triggers were met and we had many traders enter based on those numbers. In fact you will see in the video that nearly 100 people took this trade which turned out to be an easy 10 to 20 pips depending on the entry and exit that each trader took. The video for this along with transcripts from the chat can be viewed at:
CAD Employment
The next release was the Trade of the week in my opinion And many traders cleaned up on this trade. The Cad Employment data came in way more than expected resulting in a clear cut sell. This was a great trade that many traders made 60+ pips on. To see the video of this great trade and how we traded it click on the following link. The transcripts can also be read on this page.
US Non Farm
The US Non farm did not react as violently as expected due to many banks being closed for Good Friday however it did hit our triggers and provided for some good profits. In my trading room we use a software that moved our stop to +1 pip once the market has moved 7 pips which is a great safety precaution however it can be a double edged sword.
This protects us from whipsaw markets but occasionally we will get stopped out with 1 pip profit and wish we hadn’t. I was fortunate and did not get stopped out but some did so we had several that only made 1 pip but as I said there were many that made very good profits on this trade. I have personally held this position into the weekend so I am still in it with a portion of my original position. The video and transcripts for this release can be viewed by clicking the following link.
