CAD Retail Sales m/m | Forex Factory

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CAD Retail Sales m/m

  • #1
  • First Post: Aug 20, 2006 3:27pm Aug 20, 2006 3:27pm
Who is gonne trade this one???

How many pipes do you think it will move???
  • #2
  • Aug 20, 2006 4:39pm Aug 20, 2006 4:39pm
All depends on how much deviation it is from the concensus. If there is a big difference, then this will be a mover, if not, dont even risk on trading. Do some research to understand how this works. I think you can search this forum for that answers.
  • #3
  • Aug 20, 2006 5:48pm Aug 20, 2006 5:48pm
USD/CAD is not a very liquid pair, neither are any of the other CAD crosses (to the extent of my knowledge). that in mind, i'd say dont expect more than 10 pips unless there is a significant deviation.
  • #4
  • Aug 20, 2006 6:46pm Aug 20, 2006 6:46pm
Quote
USD/CAD is not a very liquid pair, neither are any of the other CAD crosses (to the extent of my knowledge). that in mind, i'd say dont expect more than 10 pips unless there is a significant deviation.

These past charts should answer the question vividly, objectively.
Attached Images
  • #5
  • Aug 20, 2006 10:40pm Aug 20, 2006 10:40pm
Looks nice, no reversal...
  • #6
  • Aug 21, 2006 4:40am Aug 21, 2006 4:40am
I'd like to point out that USD is weakening across most currencies today.

If CAD retail sales came out CAD negative, USDCAD would spike up, then perhaps a 50/50 chance reversal some minutes later (USD is weak today). But should this figure is CAD positive, it could spell a steady downtrend - especially in the absence of USD (positive) news.
  • #7
  • Aug 21, 2006 7:34am Aug 21, 2006 7:34am
My mouse clicking hand frooze!!!!!

darn!

Entered at 1.12 and I was not able to close when I have 15 pips profit! NorthFinance Straddle Script did not execute - i had it running 1 minute before the news! WTF! Its getting more and more difficult to straddle with NF than with FXCM??
  • #8
  • Aug 21, 2006 7:40am Aug 21, 2006 7:40am
I have had problems with clicking the right currency pair on MBTrading demo. I was suppose to click USD/CAD, but i ended up clickin EUR/AUD? Yeah, i was pissed. The spread was good for the CAD, 4-5 pips on a good 20-30 pip mover.

This is the second time that this happened to me with mbtrading demo. Clicked one pair, came out a different one. Plus they filled me about 5 seconds after i positioned my trade. BK do you have this probelm when you tried mbt?
  • #9
  • Aug 21, 2006 7:57am Aug 21, 2006 7:57am
Merlin,

Your actual CAD Retail Sales numbers of -0.2 are incorrect. Numbers from Rueters came in at 0.1.

TimeFreedom
  • #10
  • Aug 21, 2006 8:14am Aug 21, 2006 8:14am
My news source give me -0.2% too. Same as Merlin's data.
Target: Trading naked.
  • #11
  • Aug 21, 2006 8:20am Aug 21, 2006 8:20am
Quoting aha
My news source give me -0.2% too. Same as Merlin's data.
Same here with IFR Forex Watch.

I only created an entry order to go short anticipating CAD positive news. I thought it was too risky to go long the $ under current market circumstances.

Better luck next time I guess.

Happy trading everyone!
  • #12
  • Aug 21, 2006 8:34am Aug 21, 2006 8:34am
Straddled him 15 away and 10 TP. Picked up 10 @ 7.9 lot size!
a journey of a thousand trades begins with a single pip
  • #13
  • Aug 21, 2006 8:40am Aug 21, 2006 8:40am
The .1 was retail sales less autos MOM according to bloomberg
  • #14
  • Aug 21, 2006 9:35am Aug 21, 2006 9:35am
Quoting Maya
Straddled him 15 away and 10 TP. Picked up 10 @ 7.9 lot size!
Good you had a 10 pip limit; Im using FXCM and dare not put any limit as i may be filled above it, then whipsawed for a loss instead of a profit. What I have was a trailing stop and it brought my stop from 1.119 to 1.12 for a 0 pip win/loss.

Like I predicted earlier, USD is weak, and this CAD news cant make CAD weaker than USD so there we are seeing a reversal.

WOW! if I had the conviction to put money where my mouth is i could be rich!

Quote
I only created an entry order to go short anticipating CAD positive news. I thought it was too risky to go long the $ under current market circumstances.

Hindsight, I would be scared stiff at how short the up spike was. I already know that it could reverse but was blinded by wanting to straddle straddle straddle.
  • #15
  • Aug 21, 2006 10:36am Aug 21, 2006 10:36am
I traded this one. I enter short at about 1.1178 before the trade and had a reversal order (IF I can call it that) to enter (buy)at about 1.1196. Ended up losting about $7 trading one mini lot. Oh well, I still consider it an OK day, I didnt lose much so I still have $$$ for the next trade. By the way did I mention I didnt get any slipage with forex.com today! Great!!!
  • #16
  • Aug 21, 2006 10:58am Aug 21, 2006 10:58am
wierd... canadian data normally doesnt create that much movement
  • #17
  • Aug 21, 2006 11:00am Aug 21, 2006 11:00am
Quoting Maya
Straddled him 15 away and 10 TP. Picked up 10 @ 7.9 lot size!
NOW THAT'S WHAT I'M TALKING ABOUT!!!! Congrats Maya!!

I was prepared to trade Canada's retail sales, based on the projected deviation. Looked good for 20 or so pips. Increased purchasing power via multiple lots, that adds up. But the darndest thing happened - I experienced a power outage some time just before dawn. I didn't get back on line until after the announcement, so I missed out on a few grand. Didn't occur to me to go to the office.

That's okay, there's always another trade coming soon (not to mention the retracement on the retail sales).

Again, good work Maya.
  • #18
  • Aug 21, 2006 11:03am Aug 21, 2006 11:03am
Quoting MoneyMa$ter
But the darndest thing happened - I experienced a power outage some time just before dawn. I didn't get back on line until after the announcement, so I missed out on a few grand. Didn't occur to me to go to the office.
lol that happened to me once too.... what can i say. rotten luck.

just occured to me that you could possibly attribute the movement to a return of volatility... its been pretty dry recently. today: eur/usd - 120 pts, gbp/usd - 200 pts, usd/chf - 160 pt...
  • #19
  • Aug 21, 2006 11:15am Aug 21, 2006 11:15am
Quoting rr112
just occured to me that you could possibly attribute the movement to a return of volatility... its been pretty dry recently. today: eur/usd - 120 pts, gbp/usd - 200 pts, usd/chf - 160 pt...
I think the dryness is partially attributable to the summer (no pun intended). Vacation season, particularly in August. Things should really pick up in the next two weeks.
  • #20
  • Aug 21, 2006 12:53pm Aug 21, 2006 12:53pm
yeah, rumors are that "big players" on wall st have been out in the past few weeks. interesting to note that its hedge funds that have been creating the volatility in the stock market... guess its the same w/ forex.
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