Free Forex Signals for 01/31/2007+Trading collaboration

Hi there
 
I hope you are doing well.  Today was a good trading day for some, not so good for others.  More on that later.  I wanted to start off this signal with trying to pick your brain on something.  I’ve been doing a lot of research lately on developing a very high probability trading system based on world’s oil prices.  As you may know, when the oil prices go up, Canadian dollar usually goes up along with them, because Canada is a big exporter of oil.  Japan yen on the other hand goes down, because their export competitiveness depends on low oil prices, because they have to buy that from abroad.  So it’s very clear that whenever there is a significant change in oil prices, CAD/JPY pair is a great pair to trade.  It’s a very liquid pair, with spreads on most ECN platforms of only 1 to 2 pips.  So I’ve been correlating oil prices and the price action in CAD/JPY, and from my research so far, it’s very clear that it’s very possible to use oil prices as leading indicator for trading CAD/JPY, so it makes it a very worthy venture and trading system to explore.  If you happen to have any experience trading currencies based on commodity pricing, please email me back, I’d like to collaborate with you to really hammer out this trading system. 
 
So let’s review what happened earlier today.  We had four reports come out today.  We had the UK Manufacturing PMI, we had the US Core PCE, we had the US ISM Manufacturing, and we had Australian trade balance.
 
UK Manufacturing PMI didn’t hit my trigger, so it was a no trade, however the pound did move towards the deviation by around 30 pips in the first half an hour.  I personally scalped off 10 pips out of this move, but didn’t really give any public trading signals for this.  Then we had the US Core PCE come out at 0.1%, and all the other numbers along with it, came out as expected, so that was clearly a no trade.  Then we had the ISM Manufacturing come out.  It came out at 49.3, very bad reading, under normal circumstances I expected a move of at least 70 pips based on such reading on the GBP/USD pair.  I gave a long signal, saw about 25 pips profit on two units, so 50 pips total on my account in the first minute or two, decided to hold on for longer period, and see if it gives a bigger move, but unfortunately, there were some very heavy offers sitting in the 1.9730s, plus a very strong pending home sales reading didn’t help, so I ended up turning +25 pips per unit to -10 pips per unit, then reentered with another unit, and made +10 pips, then about an hour after the report, took another short, and made +25 pips on that.  Some people in my room exited early when we had that +25 pips profit initially, but I am afraid quite a few held on longer along with me, and probably lost a little.  Overall, I was able to squeeze a little profit out of this report on my own account, but I still consider this trade unsuccessful, and unfortunately, I wasn’t in the room to give the last short either.  Then the Australian trade balance didn’t hit my trigger, however one of the news contributors to the weapon made a mistake when they released the number, and we got a short signal on smaller deviation than my triggers.  I gave an exit for a +21 pips total profit, however, because of high spreads, the results were minimal.  People that paid 10 to 15 pips spread made between 5 to 10 pips profit.  I got ripped off with a 30 pips spread, and lost -9 pips after the spread…but in reality that was a no trade according to my triggers.  I suggest you go to this link to watch my live trading videos…it’s been a very interesting day to say the least:  http://www.forexdiamonds.com/performance.htm
 
Rob Grespi from kingforexsignals.com did fantastic today.  He took 12 trades.  8 were winners, and 4 were losers, but at the end of the day, his overall profit was +112 pips.  Great way to start a month.  Click on this link to see Rob’s live trading videos:  http://www.kingforexsignals.com/robtrades0207.htm
 
Okay…tomorrow we have only one report that I am going to watch and possibly trade, and it’s going to be non-farm payroll.  A biggie…a real biggie…
 
1.  Friday, February 2nd, 2007 (8:30 am New York Time) USA
We have US Non-Farm payroll coming out.  As you may already know, this is probably the biggest economic report in the world that everybody watches, and can move the market by over 100 pips easily.  It’s expected that Non-Farm will read at 150K.  If the reading is at 180K or more, I may possibly go short on GBP/USD, since it would be good for the dollar.  If the reading is at 85K or lower, I may possibly go long on GBP/USD, since it would be bad for the dollar.  The reason my long trigger is so much more conservative is because this report may also include annual government benchmarking, which is expected to bring 800,000+ extra jobs in 2006, and create a huge revision, which should be relatively well distributed among 12 months or so.  If that happens, such positive revision may mute a negative dollar move, so I feel a bigger trigger is warranted.  You may also look for 2nd waves on this report.  If you don’t know what 2nd waves are, please watch my signal tutorial video by going to this link: http://www.secretforexsociety.com/videos/FreeSignalsTutorial.html
 
That’s all for tomorrow   Let’s hope we can close this week very positive.
 
To Our Success!
-Felix Homogratus

1617 Broadway St., Suite 1001
New York, NY 10002
USA