LIVE TRADE CALL RECAP
This morning we were trading the CPI report out of the UK.
There were three components we were watching, but the main
component was the yearly EU Harmonized number. Secondly we had
the yearly core number, followed by the monthly number. Our
plan was to go long on the GBPUSD if the UK CPI deviated by
0.2% or more higher than what was expected, and that trigger
was not met. However, I did suggest in the room that if
traders wanted to use 0.1% they could, but that there would be
additional risk involved, especially if there was conflicting
data. The core yearly number did conflict with the other
numbers. Fortunately, traders in the room, for the most part,
are using MetaTrader software that locks in profit immediately
upon the movement in the market. This morning on the 0.1%
deviation we saw several traders pick up anywhere from 1 to 10
pips, some reporting as much as 15 pips. We did have a handful
of losses.
Some people chose to trade off the core yearly number instead
and some of those folks took some small losses initially. My
advice to them was to limit exposure and then hold out. For
those that did that, we did see a pretty decent move on the
GBPUSD on the downside. It actually turned out to be a 40-50
point move. Some of those folks may have actually made decent
profits when we closed the room down or shortly thereafter.
Overall, we had pretty decent profits for this morning although
it was technically not a trade call, as it did not hit my
triggers.
Again, due to the conflicting data, the long was short lived;
however, the initial spike was long as you would expect from
the 0.1% deviation on the CPI yearly EU Harmonized number. If you would like
to see an actual video of this live Forex trade then follow
this link:
UPDATE ON BANK FLOW DATA
Additionally, it seems that the bank flow data that I’ve been
sending out is being well received. We had one person comment
that he had made several trades of 50 pips or more using the
data and had increased his $10,000 account by 36% in just the
last couple of weeks, which is great news. I noted that the
bank flow data has performed very well on my managed accounts,
although we did have a pretty good draw down on the USDCAD
trade as we were trying to find the bottom. However, as long
as you keep your risk to reward ratio in check and leverage
yourself properly you’re not going to have as many problems,
and it’s not going to be as nerve racking to hold these
positions as we’ve been holding them. Currently we’re
substantially net profitable on these USDCAD positions and our
EURUSD positions from late last week.
OUR NEXT LIVE FOREX TRADE CALL
We will have a trade opportunity tomorrow when the US Retail
Sales report is comes out at 8:30 am EST. Our focus on this
trade will be the Retail Sales Less Autos figure, which will be
Row One on the RSS. This figure is expected to be 0.3%. We
will have a safe trigger of 0.5% on this report to trigger a
trade. A higher than expected number will signal a sell on the
GBPUSD, and a lower than expected number will signal a buy on
the GBPUSD.
This report last met our safe trigger in September, and we had
traders report profits of 10-15 pips, with a couple of traders
report over 30 pips of profit. To view the video of
September’s trade, click on the link below:
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 release to get my commentary on the potential trade.
Good Luck!!!!
