UK Trade Balance 9/11 4:30EST | Forex Factory

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Attachments: UK Trade Balance 9/11 4:30EST
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UK Trade Balance 9/11 4:30EST

  • #1
  • First Post: Edited 8:28am Sep 10, 2006 2:14am | Edited 8:28am
UK Trade Balance is a good piece of news that you can bet on.
Previous result was -6.5B, Estimate is -6.0B. (correction as per yyapjen)

Recommendation: Aggressive Straddle Distance (5-10 pips), Moderate TP (15-20 pips) or Scale Out TP (Exit at 10, 20 and 30 pips profit) - 3 lots to do it or

For historic charts, please refer to my "temporary" repository at:
http://z10.invisionfree.com/Historic_Charts/index.php

 PS. I am temporarily placing the charts here because my hardisk crashed and I lost a lot of data. Likewise, I can only attach 3 charts here at FF
  • #2
  • Edited 7:17pm Sep 10, 2006 5:05am | Edited 7:17pm
hi sorry about this. i think Previous result was -6.5B, Estimate is -6.0B just right
  • #3
  • Sep 10, 2006 5:08am Sep 10, 2006 5:08am
SO COOOOOOOOOOOOL DAN... Good job

Note: i trade UK TB last month got burned ! the spike was too small

But we have this week TB + PPI at the same time.
Charting Markets into the Future...MǎҖ€¥.
  • #4
  • Sep 10, 2006 5:29am Sep 10, 2006 5:29am
Marlin & Burgerking

What do you think about Burgerking Open Private Thread At FF fourms for Historic Charts to be good Reference For all... Instant of uploading in other fourms !
Charting Markets into the Future...MǎҖ€¥.
  • #5
  • Edited 4:43pm Sep 10, 2006 7:00am | Edited 4:43pm
BK,

I really appreciate how much work you have put into helping others. We seem to think alike with our trading strategy. I have never really posted my strategy per say, just revealed a few more specific results.

I do straddle at different levels, I do use multiple lots, I do take profit on a % and then breakeven the rest. That way I get paid more often than not.......and so on.

There are some here at FF that I have personally benefited from, You, Max, MoneyMaster, Merlin, Bemac, and a few others.

Thanks for all of your hard work.

I hope that someday I can contribute as much.

DC
"There is MORE Happiness in giving than receiving"
  • #6
  • Sep 10, 2006 12:36pm Sep 10, 2006 12:36pm
Quoting MaXeY
Marlin & Burgerking

What do you think about Burgerking Open Private Thread At FF fourms for Historic Charts to be good Reference For all... Instant of uploading in other fourms !
good idea, i have contacted BK to see if we can get something started...
Relax and be happy.
  • #7
  • Sep 10, 2006 12:39pm Sep 10, 2006 12:39pm
hey btw, the PPI comes out the same time as trade balance. if the market moves, i think it will be the PPI doing it, not the trade balance. inflation is KING right now.
Relax and be happy.
  • #8
  • Sep 10, 2006 12:41pm Sep 10, 2006 12:41pm
Quoting BurgerKing
UK Trade Balance is a good piece of news that you can bet on.
Previous result was -6.5B, Estimate is -6.0B. (correction as per yyapjen)

Recommendation: Aggressive Straddle Distance (5-10 pips), Moderate TP (15-20 pips) or Scale Out TP (Exit at 10, 20 and 30 pips profit) - 3 lots to do it or

For historic charts, please refer to my "temporary" repository at:
http://z10.invisionfree.com/Historic_Charts/index.php

 PS. I am temporarily placing the charts here because my hardisk crashed and I lost a lot of data. Likewise, I can only attach 3 charts here at FF
Interesting stuff. You've put a lot of thought into this.
  • #9
  • Sep 10, 2006 1:02pm Sep 10, 2006 1:02pm
daniel, you have a prediction for this report?
Relax and be happy.
  • #10
  • Sep 10, 2006 1:42pm Sep 10, 2006 1:42pm
Quoting merlin
daniel, you have a prediction for this report?
Can't give a prediction when the market has not moved. I need price movement for a prediction.

However, if I base it off of the EuroFX in the futures market, you can see it is bullish. At what percentage, I have no idea.

I could tell you on the Eur/Usd in the morning about a half hour before report time when the news makes an announcement of a UK entity that has moved ahead of the market.

Attached is a chart on the EuroFX.
Attached Image
  • #11
  • Sep 10, 2006 1:56pm Sep 10, 2006 1:56pm
Speaking of the Futures market, can you get better fills trading off the news reports than you can on the Forex side [i.e., for those who straddle]?
  • #12
  • Sep 10, 2006 2:13pm Sep 10, 2006 2:13pm
Quoting lglyons
Speaking of the Futures market, can you get better fills trading off the news reports than you can on the Forex side [i.e., for those who straddle]?
Please by all means try .... you will not only be unsuccessful but you will most likely lose money. It pains me to see all these new news traders who thik they've foud some sort of valid trading methodology with which to make money in the markets. You're not trading the actual markets, you're trading your broker's market so any complaints about widening spreads, stop hunting etc. are tbh not valid. It's their market, you should have read through the t&c before signing up. They can and will do whatever they want, especially if they're losing money off your activities. I don't agree with forex broker activities but they're not gonna hand you money on a plate.

There's a thread somewhere on elitetrader where somene has been kind enough to explain how the markets work. If you're at all serious about making money trading you should try and do some research. Maybe then you'll understand why you can only make money trading news straddling with forex brokers who are also the market makers.

On another note, ppl complaining about widening spreads around news with some of these forex brokers should take a look at 6B (equiv of cable) on globex around news and you will very rarely see a spread of less than 5pips with around only 5-10 contracts on either side of the quote, and those contracts (equiv of 1m notional) are up for grabs to anyone trading on te exchange. You really think you're gonna be the faster than pros hitting those bids/offers or even faster than ppl pulling their bids/offers? IF you do, by all means, give futures a try
  • #13
  • Sep 10, 2006 2:19pm Sep 10, 2006 2:19pm
Quoting ngdaniel
Can't give a prediction when the market has not moved. I need price movement for a prediction.

However, if I base it off of the EuroFX in the futures market, you can see it is bullish. At what percentage, I have no idea.

I could tell you on the Eur/Usd in the morning about a half hour before report time when the news makes an announcement of a UK entity that has moved ahead of the market.

Attached is a chart on the EuroFX.
Hi Dani

Can you please tell us the source of this chart please ?

Thank you very much
Yankey
  • #14
  • Sep 10, 2006 2:38pm Sep 10, 2006 2:38pm
Quoting Yakovzvi
Hi Dani

Can you please tell us the source of this chart please ?

Thank you very much
Yankey
Read the forum rules. Members are not allowed to discuss this. It is assumed that I can't post a chart reference either.

Unless informed by a moderator, I'm not violating the rules again for anyone.
  • #15
  • Sep 10, 2006 2:43pm Sep 10, 2006 2:43pm
Quoting lglyons
Speaking of the Futures market, can you get better fills trading off the news reports than you can on the Forex side [i.e., for those who straddle]?
I don't know about getting better fills on futures. You have to weigh the costs and make your own decision.

Forex is supposed to be offered on CME in 2007 as a new regulated market.

Fundamentals seem to have more ticks in futures than pips on forex. The value of each tick is higher ie: EUR/USD is approximately $10 a pip on a standard lot. EuroFX is approximately $12.50 a tick on a futures contract.

Forex has a pip spread. Futures have a round turn transactions fee, exchange fees, etc.
  • #16
  • Sep 10, 2006 2:47pm Sep 10, 2006 2:47pm
Quoting lglyons
Speaking of the Futures market, can you get better fills trading off the news reports than you can on the Forex side [i.e., for those who straddle]?
i dont straddle, but i know that you can get better fills in forex if you are trading mini lots. but if you are trying to move 10 lots, youll get a better fill on globex.
Relax and be happy.
  • #17
  • Sep 10, 2006 2:51pm Sep 10, 2006 2:51pm
Quoting merlin
but if you are trying to move 10 lots, youll get a better fill on globex.
this is far from the truth if you're talking about liquidity around news, even on eurofx
  • #18
  • Sep 10, 2006 3:42pm Sep 10, 2006 3:42pm
Quoting sccz97
this is far from the truth if you're talking about liquidity around news, even on eurofx
I wounder... Is all you do is trying to tell us how we should NOT trade news? You're SO anti-news-trading. So why goddam you're in this forum?

Yes, I want to do money without hard work
Yes, I want to do ALOT of money without hard work
Yes, I know the risks...

Thank you, dissmissed...
  • #19
  • Sep 10, 2006 4:12pm Sep 10, 2006 4:12pm
Quoting ltljon
I wounder... Is all you do is trying to tell us how we should NOT trade news? You're SO anti-news-trading. So why goddam you're in this forum?
you can form your own whether I'm against it or not. I never said I traded news nor have I said I don't. I just find it pathetic (not you might I add, I dont know you) when ppl ask to be spoon fed things adn then complain about brokers when they don't even understan how the market works. Ppl like bk are on the right track, continually doing analysis and I've seen even him rant on at large slippage on certain brokers. There is a reason why there is a such a large seperation between retail and pro traders and why retail traders rarely make the transition to pro (if they wanted to, that is).

Try trading in a more realistic forex mkt on an ecn and you will see how these little tricks like straddling before news will not work.

If you really want to know, I feel I'm offering some good advice to some of these ppl because if they are succesful and make a substantial amount of money off they're brokers and need to move to a proper mkt to maintian their increased volume or because they can no longer trade news with any retail broker, then they will be in for a big shock.
  • #20
  • Sep 10, 2006 4:26pm Sep 10, 2006 4:26pm
Quoting merlin
hey btw, the PPI comes out the same time as trade balance. if the market moves, i think it will be the PPI doing it, not the trade balance. inflation is KING right now.
UK CPI perhaps, but not PPI. UK PPI from January to August produced insignificant moves to make it worth no more than 3 losses and 5 duds. Not even a single win no matter how near or far from the last second tick price.
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