I like the first Friday of every month, not because how the market reacts to the Non-Farm Payrolls announcement, but because I take the day off (Actually, I did write this post yesterday and scheduled for today).
It’s very difficult to trade the most important announcements, the market goes crazy making wild swings, and most of the time the market ends up where it all started. I think this is the kind of risks that traders should avoid, we just can’t afford it. Picture this scenario, you been trading all month long, following your strategy but somehow you decide to trade the NFP announcement, and all you’ve made during the previous month vanishes. I just don’t like the idea.
Even if we knew the actual figure, it would still be difficult, because sometimes the market moves against the fundamentals, good data, and the market goes down, bad data and the market goes up, very bad figure and the market stalls, etc.
This is why I take the first Friday of each month off. What do you think? Is it worth it?
See you next Monday! Have a nice Weekend.