Currency trading (December 4th > 8th)

[wasp]

Howdo all, in the vicinity killing time so I thought I'd do the honours as I still read although don't post seeing as I am still 'exotic' discretionary..... Although of course, its good old NFP week and that has to be done manual....

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12/3/2006 23:30 AUS TD Securities Inflation YoY% n/a 3.2%
12/3/2006 23:50 JPN Capital Spending n/a 16.6%
12/3/2006 23:50 JPN Monetary Base (YoY) n/a -21.3%

12/4/2006 00:30 AUS ANZ Job Advertisements (MoM) n/a 5.8%
12/4/2006 00:30 AUS Company Operating Profit QoQ% 3Q n/a 3.3%
12/4/2006 00:30 AUS Inventories n/a -0.7%
12/4/2006 00:30 AUS Building Approvals (YoY) n/a 9.0%
12/4/2006 01:30 JPN Labor Cash Earnings YoY n/a 0.0%
12/4/2006 01:30 JPN Overtime Earnings YoY n/a 3.0%
12/4/2006 09:30 UK PMI Construction n/a 58.1
12/4/2006 09:30 UK CIPS/NTC November PMI Construction n/a n/a
12/4/2006 10:00 EU Euro-Zone PPI (YoY) n/a 4.6%
12/4/2006 12:00 NZ ANZ Commodity Price n/a 0.3%
12/4/2006 15:00 US Pending Home Sales MoM n/a -1.1%
12/4/2006 22:30 AUS AiG Performance of Service Ind n/a 52.0

12/5/2006 00:00 AUS Westpac-ACCI Industrial Survey 4Q n/a -10.0
12/5/2006 00:00 EU PMI Services (survey) n/a 56.5
12/5/2006 00:30 AUS Current Account Deficit 3Q n/a -13239M
12/5/2006 08:55 EU German PMI Services (survey) n/a 54.0
12/5/2006 09:00 EU Euro-Zone November Composite PMI n/a n/a
12/5/2006 09:30 UK PMI Services (survey) n/a 59.3
12/5/2006 10:00 EU Euro-Zone Retail Sales (YoY) n/a 1.4%
12/5/2006 11:00 UK BRC November Retail Sales Monitor n/a n/a
12/5/2006 12:30 US Challenger Job Cuts YoY n/a -14.9%
12/5/2006 13:30 US Nonfarm Productivity 0.0% 0.0%
12/5/2006 13:30 US Unit Labor Costs 3.8% 3.8%
12/5/2006 14:00 CAN Bank of Canada Rate 4.25% 4.25%
12/5/2006 15:00 US Factory Orders -1.6% 2.1%
12/5/2006 15:00 US ISM Non-Manufacturing 56.5 57.1
12/5/2006 22:00 US ABC Consumer Confidence n/a n/a
12/5/2006 22:30 AUS RBA CASH TARGET 6.25% 6.25%

12/6/2006 00:01 UK Nationwide Consumer Confidence n/a 98
12/6/2006 00:30 AUS Gross Domestic Product (YoY) n/a 1.9%
12/6/2006 05:00 JPN Coincident Index n/a 45.0%
12/6/2006 05:00 JPN Leading Economic Index n/a 18.2%
12/6/2006 09:00 EU Bloomberg Eurozone Retail PMI n/a 52.8
12/6/2006 09:00 EU Bloomberg Germany Retail PMI n/a 53.8
12/6/2006 09:30 UK Industrial Production (YoY) n/a 0.5%
12/6/2006 09:30 UK Manufacturing Production (YoY) n/a 2.0%
12/6/2006 10:30 UK BRC November Shop Price Index n/a n/a
12/6/2006 11:00 EU German Factory Orders YoY (nsa) n/a 5.8%
12/6/2006 12:00 US MBA Mortgage Applications n/a n/a
12/6/2006 12:30 UK U.K. Pre-Budget Report Published n/a n/a
12/6/2006 13:15 US ADP Employment Change n/a 128K
12/6/2006 13:30 CAN Building Permits MoM n/a -2.5%
12/6/2006 15:00 CAN Ivey Purchasing Managers Index n/a 59.5
12/6/2006 20:00 NZ RBNZ Official Cash Rate 7.25% 7.25%
12/6/2006 22:30 AUS AiG Perf of Construction Index n/a 49.2
12/6/2006 23:50 JPN Official Reserve Assets n/a $885.6B

12/7/2006 00:01 UK NIESR GDP Estimate n/a 0.7%
12/7/2006 00:30 AUS Employment Change n/a -32.1K
12/7/2006 00:30 AUS Unemployment Rate n/a 4.6%
12/7/2006 00:30 AUS Participation Rate n/a 64.7%
12/7/2006 05:30 AUS Foreign Reserves n/a 65.13B
12/7/2006 06:00 JPN Machine Tool Orders (YoY) n/a 7.2%
12/7/2006 12:00 UK BOE ANNOUNCES RATES 5.00% 5.00%
12/7/2006 12:45 EU ECB Announces Interest Rates 3.50% 3.25%
12/7/2006 13:30 US Initial Jobless Claims n/a n/a
12/7/2006 13:30 US Continuing Claims n/a n/a
12/7/2006 15:30 UK Leading Indicator Index (MoM) n/a 0.2%
12/7/2006 15:30 UK Coincident Indicator Index (MoM) n/a 0.2%
12/7/2006 20:00 US Consumer Credit $4.1B -$1.2B
12/7/2006 23:50 JPN Gross Domestic Product (QoQ) n/a 0.5%
12/7/2006 23:50 JPN GDP Annualized n/a 2.0%
12/7/2006 23:50 JPN GDP Deflator YoY n/a -0.8%
12/7/2006 23:50 JPN Money Supply M2+CD (YoY) n/a 0.7%
12/7/2006 23:50 JPN Broad Liquidity (YoY) n/a 2.1%
12/7/2006 23:50 JPN Bank Lending (YoY) n/a 1.1%

12/8/2006 00:30 AUS Home Loans n/a -1.2%
12/8/2006 00:30 AUS Investment Lending n/a -5.5%
12/8/2006 05:00 JPN Machine Orders YoY% n/a -1.5%
12/8/2006 07:00 EU German Trade Balance n/a 15.6B
12/8/2006 07:00 JPN Eco Watchers Survey: Current n/a 50.8
12/8/2006 07:00 JPN Eco Watchers Survey: Outlook n/a 52.5
12/8/2006 07:00 EU German Current Account (EURO) n/a 9.4B
12/8/2006 07:00 EU German Imports SA (MoM) 3.3% 3.8%
12/8/2006 07:00 EU German Exports SA (MoM) 3.7% 6.6%
12/8/2006 11:00 EU Euro-Zone OECD Leading Ind. n/a 109.1
12/8/2006 11:00 EU German Industrial Prod. YoY (nsa wda) n/a 6.1%
12/8/2006 13:15 CAN Housing Starts n/a 223.2K
12/8/2006 13:30 US Change in Nonfarm Payrolls 125K 92K
12/8/2006 13:30 US Unemployment Rate 4.4% 4.4%
12/8/2006 13:30 US Change in Manufact. Payrolls -15K -39K
12/8/2006 13:30 US Average Hourly Earnings YoY n/a 3.9%
12/8/2006 13:30 US Average Weekly Hours 33.9 33.9
12/8/2006 15:00 US U. of Michigan Confidence 92.8 92.1

Good trading all............. :cheesy:

 

[Sterile]

So are we certain to see $2/£1 this week?

 

[wasp]

Looks that way but NOTHING is certain in trading!

 

[ashoksagar]

Could be a ranging day today, with not much direction either up or down.

 

[jacinto]

bull flag?

bull flag? if so, worth 200 pips

 

[ashoksagar]

I have an order in place to go long at 7960.

 

[ashoksagar]

Order filled, now long at 60.

 

[Baruch]

The BB train has left the station.

 

[ashoksagar]

Wonder what the BB train is....... BTW, my stop is at 7900.

 

[Offshore Trader]

I'm in one of the back carriages...short at 36 stop now at 56

 

[Baruch]

Wonder what the BB train is....... BTW, my stop is at 7900.

BB = Big Ben.

 

[Offshore Trader]

Not a good start to the week -20

 

[Baruch]

The BB train has left the station.

But it came back again.

 

[Baruch]

Not a good start to the week -20

I came out at b/e. But maybe I should add a new rule to my BB rules: Don't buck the major trend.

 

[jacinto]

I came out at b/e. But maybe I should add a new rule to my BB rules: Don't buck the major trend.

just exactly what i wanted to ask you......do you filter your breakout strat with anything similar to "since trend is up, pattern should break out north....if break is south......treat as a speculation"

sorry to hear that guys.

 

[Baruch]

just exactly what i wanted to ask you......do you filter your breakout strat with anything similar to "since trend is up, pattern should break out north....if break is south......treat as a speculation"

sorry to hear that guys.

I think it's a good idea to do that.

 

[ashoksagar]

Moved stop to b/e +1, price now at 9790.

 

[Offshore Trader]

I think it's a good idea to do that.

I think it's dangerous to change your strategy based on one trade going wrong. In strongly trending markets you do get some deep retracements which BB is ideally positioned to take advantage of. If you analyse it carefully and over a period of time a change in strategy is justified, then that is fine but BB and other breakout methods work because they only look at the price action on the day in question.

My opinion only but I don't regret going short this morning and would do so tomorrow given the same set up.

 

[ChowClown]

just exactly what i wanted to ask you......do you filter your breakout strat with anything similar to "since trend is up, pattern should break out north....if break is south......treat as a speculation"

sorry to hear that guys.

The breakout i trade doesn't take trend into consideration, the testing didn't either. Most would argue that filtering on trend is a good idea. For a big ben style breakout strat, which timeframe of trend filter do you think would be best?

 

[jacinto]

I think it's dangerous to change your strategy based on one trade going wrong. In strongly trending markets you do get some deep retracements which BB is ideally positioned to take advantage of. If you analyse it carefully and over a period of time a change in strategy is justified, then that is fine but BB and other breakout methods work because they only look at the price action on the day in question.

My opinion only but I don't regret going short this morning and would do so tomorrow given the same set up.

that is fair enough.