Funny how that dude was posting every thirty minutes or less up to the number, then he disappears. Probably too busy making money with his winning strategy! (LOL) The reality is they were long the whole way, and were just trying to get suckers short, to get their stops nailed.
A very interesting event occurred Friday morning, courtesy of the CNBC 'Squawk Box' host Mark Haines. Steve Liesman, Senior Economics Reporter and 'Kudlow and Cramer' Larry Kudlow were having a pre Payroll release chat with Haines about the forthcoming release. A few minutes before 8:30 am EST, each gave their opinion whether the release quantity would be lower, higher or the same amount as the estimates. Haines said they'd be higher than the estimate. Liesman asked Haines why he thought the quantity would be higher â good question. Haines replied that Greg Mankiw would be a guest on the show later on. Ahaaaa ! Haines: [not a direct quote] " Mankiw would only come on if the figures were good like last time ". Mankiw is the Chairman of the Council of Economic Advisors to President Bush. Thomson Financial IFR Forex Watch SQUAWK BOX " 2:34 GMT: EUR/USD: Wild Price Action Pre and Post Payrolls: Boston, May 7: Obviously someone thought they had the number and ramped EUR/USD higher only to get crushed as non-farm payrolls exceeded estimates and March was revised higher. . . . --Jamie.Coleman@thomson " " 19:40 GMT: EUR/USD: . . . A leak was suspected, but it turned out not to be the case as payrolls hit the tape like a bomb, driving EUR/USD quickly below 1.2000. . . . --Jamie.Coleman@thomson " Viewing the 1 min EUR/USD chart one can see where frantic selling â exiting Buys orders â drove the price rapidly higher along with a multitude of Sell orders going into the markets, followed by the release, confirmation Haines was correct, and the accelerating collapse of the price.
According to Larry Kudlow, senior government officials(eg. Alan Greenspan) get the employment report in Thursday afternoon(about 16 hours before public release).
Sorry for the lack of posts but ET was down friday and we could not post. The game plan did not work as the number came out much better than expected BUT as we said we were buying 5 to 10 minutes before the number and the eur/usd spiked 40 pips after we got in. We raised our stops to go for the bigger trade but some made 20 pips and others broke even on our trades even though we were on the wrong side. we had a game plan, it didnt work but executed it well and didnt get hurt. We are curious to hear from all the posts that said we were shills for fxcm. We had a game plan, executed on it and didnt get hurt. As any good trader knows you cannot hit the ball out of the park on all your ideas...so this one didnt but the thought process was logical. Address us on that please. we are eager to hear your response. And please lets keep it on the subject. no need to address us on offpoint remarks. it doesnt make a differance who we use as a market maker...lets talk about the trade idea.
Oh, I'm sorry, what I said was 'WHY DON'T YOU SUCK MY BALLS' Your pretence at helping others may fool the uniniated, but it cuts no crap for seasoned traders. Your pathetic attempts at free advertising and self promotion are crass in the extreme. And if you want to keep on the subject of trading ideas, you should consider that a lot of people on this web site do not know what they are doing, and are likely to follow advice without realising what complete shit it is. Rather than putting on a position ahead of the biggest number of the year, they would be better going to vegas. You sir, are a fucking MUPPET. Go the fuck away before someone gets hurt following your 'advice'.