Between 40-100 pips per Day

[james]

Hi james here

You can email me at ibsystem@hotmail.co.uk

Well great day today I did a news trade today for about 120 pips on the USD/CAD the live group was not able to take advantage this time but we all made a few ££££ on the IB trades.


So today
Canadian dollar tumbles in early US session after the release of an unexpectedly weak employment report. Even though unemployment rate remained unchanged at 5.9% in Dec, total employment unexpectedly dropped by -18.7k, first drop in eight months. The report prompted speculations that, following the rate cut last Dec, more is to come. Better than expected trade surplus of 3.7b offered little support to the Loonie.

Sterling also remains weak after poor industrial production and manufacturing reports which showed -0.1% mom drop in IP, dragging yoy rate to 0.4%, -0.1% drop in MP, dragging yoy rate down to 0.1%.

Though some volatility is seen, the Japanese yen remains generally firm on renewed worries about worse than expected losses in US financial institutions from credit market turmoil. The yen will likely remain supported on weaker open in US stock markets.


Regards

James

HAVE A GREAT WEEKEND

[linalm]

Hi,

James, or any of you who have been trading this system with success in a real account, could you please tell me:

1. On average, how many GBPUSD trades you are able to place per day following James' criteria?
2. Do you have any breakdown details per day that you can share?
3. Also, how often do you find days where the setup doesn't play out and you end up having no trades?

Many thanks.

[luminous]

i am a newbie and i have lost almost everything in my account,can James pls help me?

[james]

Hi there james here

Great day today in the living trading room today well done to the following members who hit big today.

Noel 189 pips

Martin 210 pips

Chris 165 pips

Mattew 140 pips

Jawaid 80 pips

Martin 2 199 pips

MICHAEL WINNER 248 PIPS

Mid-Day Report: Markets Reverse after Fed's Emergency 75bps Cut

Dollar and Japanese yen are sold off in early US session after Fed's announcement of an emergency cut in federal funds rate by 75bps to 3.50%. The discount rate is also reduced by 75bps to 4.00%. The rate cut is the biggest one-day rate move by Fed since it cuts its discount rate by 1% in Dec 1991. Also, it's a rare intermeeting move by the Fed with next meeting scheduled next week on Jan 29/30. Stated in the accompanying statement, the committee took the rate cut action in view of a "weakening of the economic outlook and increasing downside risks to growth." Broader financial markets conditions are noted to have continued to "deteriorate" and credit has "tightened further". Housing contraction and softening in labor markets are also indicated by recent data. The Fed does not rule out further rate cut as it will "act in a timely manner" to address downside risks to growth.

WE did a couple of news trades as well on the USD / CAD

FOR ABOUT 40 PIPS


Regards

James

[pipraider]

what is the best time to trade this system, is it the Asian-London Session, or the London-US? I know that many of you will say that its the Asian-London but I want to know for sure... since I know James trades it from 5ET

Thanks

[Kismet]

Hi all. I am pretty new to the FX arena and am at the stage of trying to come up with a system to implement which is why I have been poring over James' 2 threads.

I know that James mainly focuses on GBP but has anyone in your group consistently traded USD/JPY using James' IB Stoch system?

Cheers.

[james]

Originally Posted by Kismet

Hi all. I am pretty new to the FX arena and am at the stage of trying to come up with a system to implement which is why I have been poring over James' 2 threads.

I know that James mainly focuses on GBP but has anyone in your group consistently traded USD/JPY using James' IB Stoch system?

Cheers.

Hi there Kismet

We mainly trade the £/$ and E/Y plus £/Y but you can trade any pair it works the same any time frame.

Regards

James

[james]

Originally Posted by pipraider

what is the best time to trade this system, is it the Asian-London Session, or the London-US? I know that many of you will say that its the Asian-London but I want to know for sure... since I know James trades it from 5ET

Thanks

Hi there James here the best times are the London - US SESSIONS

Regards

James

[james]

Hi there James here

Well a great week this week in live trading finished off today with a 20 pip news trade on the cad/usd.
One member took 650 pips this week so well done to Neta



On the news trade

Canadian dollar gives back some gains against the greenback after report showed inflation moderates in Dec. Headline CPI rose 0.1% mom, 2.4% yoy, slowed from prior 2.5% yoy but was basically inline with expectation. The surprise was indeed in core CPI which dropped -0.3% mom in Dec, dragging yoy rate down from 1.6% to 1.5%. Markets expected a -0.1% mom drop only, with yoy rate rising to 1.7%. The report reinforces market's expectation that BoC is not done with it's policy easing yet even after this week's 25bps rate cut to 4.00%.
Elsewhere, dollar and yen recovers mildly on profit taking towards the end of the week. But after all, as pointed out before, yen crosses should have made a short term bottom after losing downside momentum this week. Further upside is in favor for the short term. Meanwhile, with dollar's close correlation with yen recently, rallies in EUR/USD, GBP/USD and AUD/USD is still in favor to extend further.


Rising Recession Risk Will See Fed Cut the Funds Rate Aggressively in 2008

The deterioration in financial markets in recent weeks has appreciably increased the risk that the U.S. economy is headed for recession with severe weakness in housing being overlaid by the higher cost of capital as equity markets came under downward pressure. The rare inter-meeting cut by the Fed on January 22, by an aggressive 75 basis points to both the Fed funds and discount rates highlights that the Fed is working hard to prevent a prolonged, deep downturn in the economy.
This move was prompted by a “weakening of the economic outlook and increasing downside risks to growth.” The Fed cited deteriorating financial market conditions, rising costs of credit, persistent housing market weakness and indications of a softening in the labour market as weights on the outlook for growth.
The December labour market report showed that the unemployment rate rose 0.3 percentage points to 5%. The softening in the labour market combined with the hit to net worth coming from weak real estate and equity markets will likely see U.S. household spending slow sharply in early 2008. At the same time, wider credit spreads and tighter lending standards are likely to dampen business spending, which in conjunction with the contraction in residential investment sets up for a much slower growth profile for most of 2008.

Regards

James

[luminous]

i cant pay through paypal.is there any alternative method of payment?