Hi All.. just thought you should all be aware. I have been trying to withdraw a measly amount of money from my www.fxcompany.net forex account.
Their website has been down all week…. So I contacted them on Live chat and demanded an alternative way to make a withdrawal.
After an hour on Live Chat “Helen” finally agreed that I could withdraw by sending them the required documents by email. After sending them what they asked for… I get this…..
Galaxyforex.com is changing…. My focus will now be on supporting existing spike traders… and not so much on trying to promote news trading to new traders. So I won’t be publishing triggers anymore… any experienced news trader will have their own triggers anyway.
However I will still be updating the site, and adding new pages and general Spike trading stuff. So if you have any suggestions of stuff you want to see let me know!!
If you are a Spike trader, I want to hear from you! Drop me an email at James@galaxyforex.com… it will be beneficial to both of us to hook up… the more people I meet that trades news, the better. Hopefully we can help each other!! We are constantly developing our software…. and coming up with new ideas.. The next version of MTM will be out soon. We are working on this now!
Onwards an upwards 
Thanks James
Tradable on= USDCAD or EURCAD
News Name
CAD GDP MM - Change in the inflation-adjusted value of goods and services produced by the economy.
General
This trade is better than it looks in the results. …….. It has HUGE potential! There were some failures in 2009…but with the meltdown I’m not going to worry too much about that. The biggest problem is that it doesn’t deviate very often… so its likely we will have a “No Trade”
Things to watch
This trade should be fairly clean… there is no other news at the same time 
Previous Releases -
Mar 2012 – no dev
Feb 2012 - +0.1… too small
Jan 2012- We had a -0.3 deviation, causing a 21 pip spike… not bad… but not amazing…. didn’t get much continuation. 
Before that………..
Back in July we did get a colossal 0.4 deviation. Unfortunately it hit at the same time as the US GDP came out…. so we didn’t take the trade.
Other than that we haven’t had anything sizeable for a while. 
What to expect – Trigger sizes
0.0-0.2 = Don’t trade
We will probably get a small “blip” and a hard retrace…. we don’t want to take a trade in these circumstances.
0.3 = Small trigger
We should see a reasonable spike….and should be able to make some money!
I will be setting my slippage tolerance to 15 pips from “Pre News Price”
0.4+ = Large Trigger
Now we are talking!!!! We should see a nice size spike with good continuation… we can put some decent size money on this.
I will be setting my slippage tolerance to 20 pips from “Pre News Price”
Trade Plans
Spike Trade (with Autoclicker) = Take 50% of at the end of the initial spike… then leave 50% to run.
Spike Retrace (Manual Entry) = After the spike occurs, if a sizeable retrace occurs back to around 50% of the Spike, then enter as the tick chart starts turning back in the direction of the spike.
Historical Charts
Busy week coming!
30 April 2012 13:30 CAD GDP
01 May 2012 02:00 CNY Manufacturing PMI
01 May 2012 05:30 AUD Cash Rate
01 May 2012 09:28 GBP Manufacturing PMI – Will watch closely
01 May 2012 15:00 USD ISM Manufacturing PMI
02 May 2012 08:55 EUR German Unemployment Change
02 May 2012 13:15 USD ADP Non-Farm Employment Change
02 May 2012 23:45 NZD Unemployment Rate
03 May 2012 09:28 GBP Services PMI - Will watch closely
03 May 2012 12:45 EUR Minimum Bid Rate
03 May 2012 13:30 USD Unemployment Claims
04 May 2012 13:30 USD Non-Farm Employment Change
Usual setup on this…. 0.25 bps either way.
I have looked at 9th March 2011, the last time that they suprised, and the move was not very nice at all!!!
But im confident that was down to the NZ earthquake, an extreme situation….. plus the statement stated that rates would go up again.
see here…
http://www.forexlive.com/blog/2011/03/09/rnnz-cuts-rates-50-bp-to-2-50-from-3-00/
So I dont think it should influence us too much today. I have my slippage at 30 pips though just to be safe!
Good luck !!
AUD PPI –
A late delivery of the result ensured that we fired our trades after the spike had already begun on most brokers. My software calculated on the fly whether it was safe to still fire or not. …. Mostly the answer was “no” so I ended up with no fills…. and no profit !! …. Drat!
AUD CPI –
Well…. our worst fears were realised! The “Trimmed Mean” came in 3-4 seconds before the headline “CPI QQ” …. The spike was well under way when the result hit, so my software tightened my slippage tolerance massively! Therefor I only got filled on a few brokers that had a laggy price feed. …. Double Drat!
Will have to think about how we play this one next time…… safety is always the number one priority!
End result = I banked a grand total of €80 L
Im not going to bother with “slippage logs” for these trades….. onwards…..!
Tradable on= USDCAD
News Name
CAD Core Retail Sales MM - Change in the total value of sales at the retail level, excluding automobiles.
General
If we get a big enough deviation, we should see a decent spike, and some continuation.
Things to watch
Recently we have had a few “Pre-News” moves on CAD news events…. so be careful…. if the USDCAD is moving fast at any point before the news…then adjust accordingly.
Also, there are Two lines of data out at the same time…. ideally we want both to deviate in the same direction, obviously if one conflicts, or even if one does not deviate at all, I would look to close out quickly.
1) CAD Core Retail Sales (M/M) ( trigger from this)
2) CAD Retail Sales (M/M)
Previous Releases -
March 2012 - +1.0 and a +1.3 on the “non core” figure.. we got a 20 pip sike on USDCAD, with some great follow through…. we finally got a trade from this report!!!!
February 2012- -0.1 ….yawn!
January 2012- +0.1 … pants!
December 2011- +0.3.. no real move
November 2011- +0.1…Us GDP at the same time..no move
October 2011- No Dev
September 2011- - 0.2..with US Job Claims the same time.. nothing interesting happened.
August 2011- -0.5.. had a 13 pip move… ok but nothing too exciting!
July 2011 - +0.3 a 13 pip move, but quick retracement!
June 2011 - -0.6….only a 12 pip move.
May 2011 - -0.8.. we had a good 24 pip move.. with alot of continuation for 41 pips.
See Trade video here…..
April 2011 - +0.2.. no move
March 2011 - -0.7 .. a great 27pip move.. with good continuation.
See Trade video here…..
February 2011 - No dev
January 2011 - +0.5. and a great 21pip spike… and USDCAD continued to slide for a while!
What to expect – Trigger sizes
0.0-0.7 = Dont trade
We will probbaly get a small “blip” and a hard retrace…. we dont want to take a trade in these circumstances.
0.8-1.0 = Small Trigger
We should see a reasonable spike….but i think that we still need to be cautious ..so only set up for a small trade on this size deviation.
I will be setting my slippage tolerance to 15 pips from “Pre News Price”
1.1+ = Large Trigger
Now we are talking!!!! We should see a nice size spike with good continiuation… we can put some decent size money on these
I will be setting my slippage tolerance to 20 pips from “Pre News Price”
Trade Plans
Spike Trade (with Autoclicker) = Take 25% of at the end of the initial spike… then leave 75% to run.
Spike Retrace (Manual Entry) = After the spike occurs, if a sizeable retrace occurs back to around 75% of the Spike, then enter as the tick chart starts turning back in the direction of the spike.
Historical Charts
Australian CPI Q/Q – This can be a great spike trade. As well as a superb Afterspike retrace trade.
We trade this on AUDUSD, which is a slower moving currency.. so heavy in spike retraces are not to common… which is exactly what we like!
Tradable on
AUDUSD … maybe EURAUD if you have a broker with stable spreads!
Things to watch
There are three complications with this trade……
1) AUD trades can fail to provide continuation, if there is some major Australian news the same evening….or even Chinese news shortly after…. it seems the market will spike, and wait for the Aussy news to hit, before making further moves. In which time some nasty retraces can occur. Tonight we don’t have any news that may influence this trade….
2) Make sure the Y/Y figure, and the “Trimmed Mean” a) Deviates b) Deviates in the same direction… if this isn’t the case, the close out FAST! a conflict could be disaterous…..in the last 9 releases of 0.2 or more deviation …. 3 of them have had conflicts… that’s a shockingly high Conflict rate!!!! All of those conflicts would have caused problems! , regardless if we fired on the “CPI QQ” or “CPI QQ Trimmed Mean”… food for thought!
I will confirm there are no conflicts before firing my trade, as in the last for releases both QQ numbers have come in at exactley the same moment. So its a perfect one to play safe!
News Lines -
AU CPI Q/Q
AU CPI Y/Y
AU CPI Q/Q “Weighted Mean”
AU CPI Y/Y ”Weighted Mean”
AU CPI Q/Q “Trimmed Mean”
AU CPI Y/Y ”Trimmed Mean”
Previous Releases -
This has made us some serious money in the last few releases! 
Jan 2012 – a -0.2 caused a nice spike… but the “Trimmed mean” conflicted with a +0.1 this caused a heavy and fast retrace!!!!! Dangerous stuff… watch those conflicts!
Oct 2011 -We had no deviation from the Q/Q figure, but we did get a large deviation from the ”Trimmed Mean Q/Q”… this was enough to give AUDUSD a major spike of 30 pips with lots of continuation…. looks like we can trigger trades from the “Trimmed Mean” figures as well 
watch it here……
Jul 2011 -We had a small buy signal from a +0.2 .. with an amazing 87 pip move in the first min….wow!
watch it here……
TBA
Apr 2011 - Dev of -0.4, a good 35 pip move in the first minute, and a strong push for another 5 mins…
What to expect – Trigger sizes
0 – 0.1 = Dont trade
We will probably get a small “blip” and a hard retrace…. we dont want to take a trade in these circumstances. We only trade if we are 90% sure we will be safe!!!
0.2 = Small trigger (only with tight slippage control)
We should see a reasonable spike….but i think that we still need to be cautious..so only set up for a small trade on this size deviation. Make sure your using the correct forecasts, and watch the Year on Year figures, at these Devs it more likely that we will get a conflict.
0.3+ = Large Trigger
We should see a nice size spike, but don’t go crazy!!
Trade Plans
Spike Trade (with Autoclicker) = Take 80% of at the end of the initial spike… then leave 20% for Continuation. Its still possible it may push on a bit.
Spike Retrace (Manual Entry) =
After the spike, if a “small” retrace occurs within the first 20 seconds, back to around 80% of the Spike, then enter as the tick chart starts turning back in the direction of the spike.
Historical Charts
