For this morning’s live trade, we were watching the US GDP. It
came out as expected, so that was a no-trade as far as the news
trade goes. However, this morning was a really good morning
for educational purposes. We covered a lot of information
about the way the banks can manipulate the market and how they
trigger these large runs, and I talked about of the emotional
side of trading, discipline, and how it can affect our trading.
I also talked about the current market conditions and provided
some information on the CAD, EUR and CHF trades. You will note
in my message from last night that the USDCAD has now made the
full recovery that I spoke of from the 0.9840 level as it
almost made it back to parity at 1.000 within the past hour.
Normally we cut the videos down to just focus around the news,
but this morning the video is quite a bit longer, but it is
mostly uncut, so you can get more information and use it more
as an educational tool. Again, I think you’ll learn a lot if
you take the time to watch the video, and you can do so by
clicking on the link below:
OUR NEXT LIVE ON THE NEWS TRADE CALL
Our next Live on the News trade call will be on the Canadian
GDP Report that will be released tomorrow at 8:30 am EST. The
expected number for this report is 0.1%. There is some US data
coming out at the same time, so we will focus on the EUR/CAD.
A higher than expected number will be good for the CAD and
signal a short on the EUR/CAD, and a lower than expected number
will be bad for the CAD and signal a long on the EUR/CAD. We
will be looking for a deviation of 0.3% on this report to
trigger us into a safe trade.
This report seldom meets our safe trigger; however, it can
provide some good moves when it meets our medium trigger of
0.2%. This report last met our medium trigger in August and
provided a 60-65 pip move within 10 to 15 minutes. This trade
has hit our medium trigger in four out of the past seven months
and provided moves ranging from 17 to 75 pips. To see the
video of August’s trade click on the following link:
Good Luck!!!!
