tag:www.secretpips.com,2006:/blogs/pick-of-the-day//3 2006-11-16T22:11:01Z At the end of each trading day, I will find what I believe is the best looking short term trade setup for the upcoming trading day. If you're a forex newbie, it can be tricky in the beginning trying to figure out how to look at charts and draw lines. My goal is help you understand the psychology of price movements so you can learn to analyze your own charts and trade on your very own. Trades will be posted by 1 am ET, Monday through Thursday evening. Read First: Trade Rules!! tag:www.secretpips.com,2006:/blogs/pick-of-the-day//3.713 2006-11-15T16:59:00Z 2006-11-16T22:11:01Z

For tonight’s pick, we’re gonna hop on this wild ride called “Cable” and ride it down as the Greenback has been gaining ground against it as of late. We have a couple of big data reports coming up today with GBP Retail Sales number and US CPI data.

Pipcrawler For tonight’s pick, we’re gonna hop on this wild ride called “Cable” and ride it down as the Greenback has been gaining ground against it as of late. We have a couple of big data reports coming up today with GBP Retail Sales number and US CPI data. tag:www.secretpips.com,2006:/blogs/pick-of-the-day//3.701 2006-11-10T12:10:59Z 2006-11-10T12:16:13Z

The classic scenario of “buy the rumor, sell the fact” played out early this morning as GBP/USD dropped as soon as the Bank of England announced that they raised rates to 5.00%. Unfortunately for us, the pair was about 100 pips away from our entry order right before the statement release.

Pipcrawler The classic scenario of “buy the rumor, sell the fact” played out early this morning as GBP/USD dropped as soon as the Bank of England announced that they raised rates to 5.00%. Unfortunately for us, the pair was about 100 pips away from our entry order right before the statement release. tag:www.secretpips.com,2006:/blogs/pick-of-the-day//3.702 2006-11-10T12:09:20Z 2006-11-10T12:18:47Z

November seems like “déjà vu” as we have a rocky week of three consecutive losses like in the beginning of October. I think it’s time to take a step back, clear our heads, and be fresh and ready for next weeks trades. So, no “Pick of the Day” this evening. Well, just accept the losses as a part of this wonderful business we call trading and go have an early weekend!

Pipcrawler November seems like “déjà vu” as we have a rocky week of three consecutive losses like in the beginning of October. I think it’s time to take a step back, clear our heads, and be fresh and ready for next weeks trades. So, no “Pick of the Day” this evening. Well, just accept the losses as a part of this wonderful business we call trading and go have an early weekend! tag:www.secretpips.com,2006:/blogs/pick-of-the-day//3.696 2006-11-09T05:36:54Z 2006-11-09T05:40:04Z

Apparently, the markets took the Democratic win of the House as a good sign as the USD, among other markets, was bid up as soon as the US markets opened up for trading. We were expecting a down US Dollar if the Democrats took control of either the House of Representatives or the Senate, but of course, the market surprised us and went against our trade...

Pipcrawler Apparently, the markets took the Democratic win of the House as a good sign as the USD, among other markets, was bid up as soon as the US markets opened up for trading. We were expecting a down US Dollar if the Democrats took control of either the House of Representatives or the Senate, but of course, the market surprised us and went against our trade... tag:www.secretpips.com,2006:/blogs/pick-of-the-day//3.695 2006-11-09T05:25:50Z 2006-11-09T05:36:12Z

Now that the Democrats have taken the House and may tie with the GOP for Senate control, we can get back to economic data. I think a lot of traders have stayed on the sidelines to avoid the choppy markets that the mid-term elections and lack of data have produced. We have a couple of significant events coming up with the Bank of England rate decision and the US Trade Balance report.

Pipcrawler Now that the Democrats have taken the House and may tie with the GOP for Senate control, we can get back to economic data. I think a lot of traders have stayed on the sidelines to avoid the choppy markets that the mid-term elections and lack of data have produced. We have a couple of significant events coming up with the Bank of England rate decision and the US Trade Balance report. tag:www.secretpips.com,2006:/blogs/pick-of-the-day//3.680 2006-11-03T04:09:08Z 2006-11-03T04:08:21Z

We’ve seen a huge USD sell off, US economy is slowing to a possible recession, and we have Non-Farm Payrolls expected tomorrow to report 125K new jobs were added. So, what’s a trader to do you ask? I say nothing. Everybody and their mama is waiting for this report, and once it’s released we’re going to see very, very dangerous trading conditions. If you are able to put in limit entry orders before the release or try to jump in at the market price after the report, you’ll probably experience slippage and get killed.

Pipcrawler We’ve seen a huge USD sell off, US economy is slowing to a possible recession, and we have Non-Farm Payrolls expected tomorrow to report 125K new jobs were added. So, what’s a trader to do you ask? I say nothing. Everybody and their mama is waiting for this report, and once it’s released we’re going to see very, very dangerous trading conditions. If you are able to put in limit entry orders before the release or try to jump in at the market price after the report, you’ll probably experience slippage and get killed. tag:www.secretpips.com,2006:/blogs/pick-of-the-day//3.679 2006-11-03T04:06:29Z 2006-11-03T04:09:18Z

Traders are waiting for the NFP report on Friday to make a move, so very little action to speak of today. No trade triggered as the market never came anywhere near our support and resistance trades. With that said, let’s get ready for Non-Farm Payrolls!

Pipcrawler Traders are waiting for the NFP report on Friday to make a move, so very little action to speak of today. No trade triggered as the market never came anywhere near our support and resistance trades. With that said, let’s get ready for Non-Farm Payrolls! tag:www.secretpips.com,2006:/blogs/pick-of-the-day//3.678 2006-11-02T04:55:22Z 2006-11-03T04:10:04Z

We have one more trading day before the release of the Non-Farm Payrolls report on Friday, which means we will probably see more consolidation ahead of the report. We do have US economic reports starting at 8:30 am EST, but nothing significant enough to move the markets. The European Central Bank will be making an interest rate statement tomorrow at 7:45 am EST, and ECB Pres. Trichet will comment afterwards, but the markets are expecting no change.

Pipcrawler We have one more trading day before the release of the Non-Farm Payrolls report on Friday, which means we will probably see more consolidation ahead of the report. We do have US economic reports starting at 8:30 am EST, but nothing significant enough to move the markets. The European Central Bank will be making an interest rate statement tomorrow at 7:45 am EST, and ECB Pres. Trichet will comment afterwards, but the markets are expecting no change. tag:www.secretpips.com,2006:/blogs/pick-of-the-day//3.677 2006-11-02T04:50:48Z 2006-11-03T04:08:53Z

Well, my contrarian ideas on the current market sentiment proved to be wrong this trading day, but I still think we will see a USD correction sometime soon. First, I had hoped for a market reaction to the ADP Non-Farm Payroll, but got none as the number was released close to expectations at 128K new jobs. ISM Manufacturing came in lower as expected, but the move was rather limited as the pair spiked up briefly before coming back to pre-news release levels. This tells me two things:

Pipcrawler Well, my contrarian ideas on the current market sentiment proved to be wrong this trading day, but I still think we will see a USD correction sometime soon. First, I had hoped for a market reaction to the ADP Non-Farm Payroll, but got none as the number was released close to expectations at 128K new jobs. ISM Manufacturing came in lower as expected, but the move was rather limited as the pair spiked up briefly before coming back to pre-news release levels. This tells me two things: tag:www.secretpips.com,2006:/blogs/pick-of-the-day//3.676 2006-11-01T04:50:03Z 2006-11-03T04:09:57Z

Okay, some of you may think I’m crazy, but I’m going to look for a short in GBP/USD. In the current US Dollar bearish environment, it’s probably wise to continue to short the Greenback, but GBP/USD has moved up almost 400 pips from the last retracement and it may be in overbought territory at the moment. We’ve seen US data show reasons why the US economy is slowing all last week, but I think traders are looking for some positive US data or any reason to close their Greenback shorts to take some profits.

Pipcrawler Okay, some of you may think I’m crazy, but I’m going to look for a short in GBP/USD. In the current US Dollar bearish environment, it’s probably wise to continue to short the Greenback, but GBP/USD has moved up almost 400 pips from the last retracement and it may be in overbought territory at the moment. We’ve seen US data show reasons why the US economy is slowing all last week, but I think traders are looking for some positive US data or any reason to close their Greenback shorts to take some profits. tag:www.secretpips.com,2006:/blogs/pick-of-the-day//3.675 2006-11-01T04:45:10Z 2006-11-03T03:52:56Z

At 8:30 am EST, we saw the US Dollar begin its sell off against the Loonie as Canada released their GDP at 0.3% - higher than expected. The Greenback steadily dropped all the way to the release of the US Consumer Confidence report at 10:00 am EST. The number came out worse than expected at 105.4 versus 108 expected. We saw a sharp move further down, and our short trade entry was triggered.

Pipcrawler At 8:30 am EST, we saw the US Dollar begin its sell off against the Loonie as Canada released their GDP at 0.3% - higher than expected. The Greenback steadily dropped all the way to the release of the US Consumer Confidence report at 10:00 am EST. The number came out worse than expected at 105.4 versus 108 expected. We saw a sharp move further down, and our short trade entry was triggered. tag:www.secretpips.com,2006:/blogs/pick-of-the-day//3.674 2006-10-31T04:44:38Z 2006-11-03T04:00:03Z

Good evening! Well, it’s last “Pick” of the month, so let’s make it a good one! We’ve got quite a few economic reports in the upcoming US trading session being released – most notably Canadian GDP and US Consumer Confidence at 8:30 am EST. The Loonie took a beating from the Greenback yesterday, but I see it as an opportunity to jump in the pair short and continue to ride the trend. The pair failed to break above the 1.1260 which was a previous high. I see the pair going down, especially after the Canadian GDP, in which the market is expecting better numbers as the Canadian economy’s growth accelerates. Also, the market is expecting a pretty good US Consumer Confidence number, but many may ignore that as US economic data has been weak as of late. So, I’m looking to go short on USD/CAD.

Pipcrawler Good evening! Well, it’s last “Pick” of the month, so let’s make it a good one! We’ve got quite a few economic reports in the upcoming US trading session being released – most notably Canadian GDP and US Consumer Confidence at 8:30 am EST. The Loonie took a beating from the Greenback yesterday, but I see it as an opportunity to jump in the pair short and continue to ride the trend. The pair failed to break above the 1.1260 which was a previous high. I see the pair going down, especially after the Canadian GDP, in which the market is expecting better numbers as the Canadian economy’s growth accelerates. Also, the market is expecting a pretty good US Consumer Confidence number, but many may ignore that as US economic data has been weak as of late. So, I’m looking to go short on USD/CAD. tag:www.secretpips.com,2006:/blogs/pick-of-the-day//3.644 2006-10-30T02:35:39Z 2006-10-31T00:03:36Z

It was all about the GDP reports on Friday as we saw little movement before the report. As expected, GDP numbers came out lower and the US Dollar sold off quickly. Our long trade was triggered, and within an hour after entering the position we hit full profitability. What a great way to end the week!

Pipcrawler It was all about the GDP reports on Friday as we saw little movement before the report. As expected, GDP numbers came out lower and the US Dollar sold off quickly. Our long trade was triggered, and within an hour after entering the position we hit full profitability. What a great way to end the week! tag:www.secretpips.com,2006:/blogs/pick-of-the-day//3.643 2006-10-30T02:20:40Z 2006-10-30T23:52:32Z

We watched the Greenback take a beating all last week as US data has been showing that the US economy is not as strong as we all thought, and that further weakness is expected. We pretty much rode USD down the whole week, and with the exception of our Wednesday trade, hit profitability every day.

Pip Diddy http://www.babypips.com We watched the Greenback take a beating all last week as US data has been showing that the US economy is not as strong as we all thought, and that further weakness is expected. We pretty much rode USD down the whole week, and with the exception of our Wednesday trade, hit profitability every day. tag:www.secretpips.com,2006:/blogs/pick-of-the-day//3.625 2006-09-20T03:03:51Z 2006-10-12T19:15:49Z

Apparently, the negative US economic news today wasn't enough to strengthen the loonie against the US Dollar. With consumer price inflation dropping, we may be seeing a slowdown in growth for Canada. Is this a sign of what's to...

Pipcrawler Apparently, the negative US economic news today wasn't enough to strengthen the loonie against the US Dollar. With consumer price inflation dropping, we may be seeing a slowdown in growth for Canada. Is this a sign of what's to...