Last Updated on Tuesday, 24 May 2011 03:05
Written by Barry Battista
Tuesday, May 24th, 2011
There is one decent possibility tomorrow and one that is quite unlikely to produce anything. We will trade accordingly. In addition to the Oracle Trader and Straddle 1.3 triggers, I will also provide triggers for the new Straddle Trader Pro.
4:30 AM EST
GBP Revised GDP q/q – Change in the value of goods and services produced by the economy.
GBP/USD
This is the second of the 3 GDP releases. The first UK one is a home run nearly every time. This, the second, not so much. Looking over the last 3 of these, dating back to August, there was no movement in the August or November releases. In February, we had a -.1 and -.2 (2 rows of data), seeing a 25 pip spike, full retracement, then continued push down about 40 pips or so.
There is clearly some risk in this one. I would recommend .2 medium and .3 safe on the Oracle Trader, trading only about 1/3 your normal lots on a medium and 2/3 on a safe. You can try the Straddle on this but trade real light. On the version 1.3 Straddle, set maxSpread to maybe 12. On the Straddle Pro, leave the spread stuff at the default and make sure to set up the GUI. Use a buy/sell trigger of .1 in the Straddle Trader Pro GUI.
8:30 AM EST
US Core Durable Goods – Change in the value of purchase orders placed with manufacturers for durable goods.
EUR/JPY
Not sure why we are doing this one. We make money very rarely. If you just use the opportunity to get into Dustin’s room and heckle, you will have spent your time more wisely than setting up for it. The last time I made any money on this was last August. If you must, try a medium of 6 and a safe of 8 on the Oracle Trader. Trade as close to zero lots as you can get on the medium, and .1 lot more on a safe. If you wanted to practice on your new Straddle Trader Pro on a demo account, this would be a fine opportunity.
