Today was another great day for news trading, the first release we were trading was the UK GDP and Current account. I actually had the RSS set up to trade both of these releases independently with fewer lots.
Worse case scenario I would have been hedged immediately if they conflicted but all went extremely well with the Current account and the GDP coming out in agreement which entered me into both positions short. In the video you can see we closed down within seconds of the time we entered picking up around 23 pips one of my entries and around 8 pips on the other one.
To see the video for this trade as well as the transcripts showing the actual entries and exits of many of the other traders follow this link.
The next release we were watching was the US Durable Goods And the plan on this one was to go long if the number came out lower than expected by 1%. The number came in at -1.9 which was a clear cut buy and went directly to a trend line we had marked for a target. We closed half of our position at the first target and then closed the rest as it fell below it.
This particular trade I only picked up 12 pips on and the room averaged about the same. To see the video of this trade and read the transcripts from the trade room follow this link.
OUR NEXT LIVE ON THE NEWS TRADE CALL
Tomorrow we have the US GDP which is expected at 2.2. and is not the best mover however if it deviates by .4 it is pretty consistent about showing 25+ pips. We will have to keep an eye on the deflator for a conflicting number..
It will probably not be an issue but I have seen the market follow it if it deviates enough. April of 05 is a good example of this. The GDP deviated by .4 with a long biased however the deflator came out a full 1.1 percent higher than expected and the market fell 25 pips so this is something we will keep a close eye on.
This data will be released at 8:30am eastern and if it comes out Higher than expected by .4 I will go short on the GBP/USD and if It comes out lower than expected by .4 I will go long.
