Trade Ideas

We have the UK CPI(m/m) coming out at 4:30 am EST. This is the monthly measure of inflation experienced by consumers. The consensus number is around 0.6% versus the previous number of 0.2%. Any surprise in this news report should cause high volatility in this pair, and hopefully we can capitalize on that. Cable is …

Terrible. Monday -70 pips Tuesday -28 Trade Wednesday -78 pips Thursday No trade Total: -176 pips

Sorry to say that I had another losing day in the markets. In last nights pick we saw volatility push the pair down, and then shoot back up! This seems to be the theme this past week with my picks. I’ve been a pro at picking reversal points. Haha. So, that short trade idea stopped …

Even the best of traders have their slumps (not to say I’m anywhere near the best). Look at Barry Bonds. So what does a trader do to combat a losing streak……Stop Trading! And that’s what I’m going to do. It’s been a rough week, not just for myself, but for a lot of traders I …

In tonight’s pick I’m looking for the Japanese Yen to strengthen against the Euro. We have seen Asian currencies rally against the majors in the past few trading days. Especially the Yen, as traders are positioning for a possible rate hike out of the BoJ. The pair has been in a down trend on the …

We saw the pair make a strong move right before the US trading session and our long trade was triggered at .7764. After entry, the market did not move much as traders waited for the FOMC interest rate statement at 2:15 pm EST. As expected, we saw volatility after the report as the pair dropped …

Well, I made a major error with last nights pick… I admit it. I went with the fundamentals and ignored technical analysis. I saw a pullback in commodities and a short term rise in the strength of the dollar and went against the trend. I thought there would be a correction and I was wrong. …

I’m looking at the Aussie dollar again for a few reasons. Mainly, commodities did a turn around after a few days of weakness, and with economists urging the Chinese government to increase gold reserves, we may see the recent highs of gold to continue. So, with gold and the Aussie dollar moving almost in sync …

It was pretty tough to find a pick tonight, as there is a lack of reports being released. Well, we’ve seen the Australian dollar make a magnificent run up in the past month, but in the past few days we’ve seen consolidation. Maybe it’s time for a correction… We saw a pull back in commodities …

Well, we had a pretty good week. Hope everyone caught some pips with me! Good luck trading this week. Monday +105 pips Tuesday No Trade Wednesday -68 pips Thursday -40 pips Total: -3 pips

As stated in my recommendation, I waited until 7:00 am EST before I tried to enter my orders. Unfortunately, I could not get my limit orders at the levels recommended, so I waited until after the report to enter the market. The report was release at 8:30 am EST. The employment reported an increase of …

Well, it looks like we got bit on this trade last night. My orders got triggered a little after midnight and a couple of hours after the European session opened we saw a drop in the Euro and the trade stopped out. Now, on the chart review, I pointed out that the trade worked after …

We have the biggest short term, market moving report, US Non-Farm Payrolls, tomor row morning at 8:30 am EST. Tonight’s pick is going to focus on that event. Before I talk about the Pick of the Day, I’d like to remind everyone that this is the most volatile and dangerous report to trade. We’re still …

I have a couple of thoughts that went into consideration for tonight’s pick. First, we had the Japanese Finance Minister Sadakazu Tanigaki comment that the movements in the currency markets as of late may be excessive after the G-7 announced that Asian countries should allow their currency to strengthen. Also, we have an interest rate …

As stated, in my Pick yesterday, I placed my orders at 8:00 am EST. We did see movement after the Factory Orders report was released, but not enough to trigger the trade recommendations. Hopefully, everyone followed the Pick recommendation and waited until 8:00 am EST before entering orders, otherwise you would have been stopped out. …

Tomorrow morning we have several US economic reports coming out. I’m going to focus on the Factory Orders report at 10:00 am EST, so I will place my orders at the beginning of the US trading session at 8:00 am EST. The consensus number is at about 4.0% with the previous at 0.2%. Quite a …

As anticipated we saw strong numbers out of the UK manufacturing sector which caused a rise in the pound against the yen. At about 3:00 am EST, our entry price was triggered, and nearly hit PT1 before it moved back down below our entry. After the report was released the pound just shot straight up …

Early tomorrow morning at 4:30 am EST the UK Manufacturing Purchasing Manager’s Index (PMI) is being released. It is a leading indicator of the manufacturing sector, and its consensus number is around 51.5. Any number above 50 is an indicator of an expanding manufacturing sector. Hopefully, we can catch some pips from a potentially volatile …

As you can see we had a pretty go month in April. We’re finally seeing breakouts and trends form in the currency markets as the US dollar is starting to weaken. If you remember, I had technical difficulties the second week of April, so we only had one trade. Who knows what it may have …

At about 7:00 am EST, I saw that the pair was already below my entry level, so I waited and entered manually at 1.2525. Afterwards, the quarterly GDP was released. At first, the pair was slow to move down, but then picked up some steam. PT1 and PT2 was easily hit by 10 am EST. …