Please, any recommendations on how to trade the fundamental announcements such as tomorrow's non-farm payroll????
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Quoting fxbpr1DislikedPlease, any recommendations on how to trade the fundamental announcements such as tomorrow's non-farm payroll????Ignored
Quoting Mr TrendDislikedActually, NFP is easy to trade.
5 minutes before the numbers are released, set Buy and Sell Limits at the highest high and lowest low of the last 25 minutes + 12 pips. Set a Stop of 8 pips and a PT of 80. Use proper risk management. (ya know... MAX LEVERAGE!!!!!)
Sit back and drink yer coffee. Once about 10 minutes is over, you'll either hit your target or you'll need to exit. After that, shut down your charts, close your brokerage window, and start your weekend...Ignored
Quoting Mr TrendDislikedActually, NFP is easy to trade.
5 minutes before the numbers are released, set Buy and Sell Limits at the highest high and lowest low of the last 25 minutes + 12 pips. Set a Stop of 8 pips and a PT of 80. Use proper risk management. (ya know... MAX LEVERAGE!!!!!)
Sit back and drink yer coffee. Once about 10 minutes is over, you'll either hit your target or you'll need to exit. After that, shut down your charts, close your brokerage window, and start your weekend...Ignored
Quoting LinusDislikedDidn't work, esp. with a 8 pip stop. Definitely not with Buy/Sell Limits, maybe with Buy/Sell StopsIgnored
Quoting smjonesDislikedMy point is, If a person is asking for recomendations as to how to trade the most volatile news event each month, It would be apparent they do not have a lot of experience. It would be unwise to send them to trade an event that, yes , can be traded by an expert. It is a recipe for failure.
If you think you have a method for trading NFP, which many people do. I have traded the aftermath quite successfully, then try trading it in demo first and see what happens. Sure it only comes once a month, but you have plenty of time to learn.
Perhaps one of the people who are suggesting to trade the NFP could take a moment and guide you through the process as it is happening. Otherwise, unless you know what you are doing, It is just a gamble. Good luck...
ScottIgnored
Quoting SquidDislikedI set a buy and stop limit at the highest close and lowest close of the last 7 days.Ignored
Quoting stockwetDislikedI don't disagree with you Scott. It's just that everyone tells newbies "Don't trade the NFP" without qualifying their statement as you just did. The NFP is it's own beast that people can become accustomed to trading. However, if all newbies hear are "Don't trade it", they will never learn how to trade it.
To emphasize what you said in here, though, the NFP should not be traded until you have a sound system for trading and lots of experience demo trading it.Ignored