Hey traders, hope everything is going we’ll…
I know, its been a while since the last time I wrote an article in my blog… I really appreciate the emails that some of you have sent…
I’m still trading and will be trading for the long haul… I intend to post more often in the coming weeks, with more analysis, recommendations, etc.
So please bear with me alright?
Dont tell me you are still trading the NFP report?
Earlier today, one of the most important fundamental announcements was released: The Non-farm Payrolls report.
forex, fundamentals, news, NFP
Are you planning to trade the NFP tomorrow?
Well, you are at the right article… because I’m going to show you exactly what you need to do with your trading during the NFP report…
If you intend to trade the NFP for a quick gain
This is also true for any other fundamental release… If you keep trying to get a quick gain here and there during any fundamental release… your trading career will end pretty soon.
forex, NFP, non farm payrolls, trading
We got plenty of fundamental announcements for what is left in the week:
Thursday: Interest rate announcements for the Euro and GBP
Friday: Unemployment reports for the USD and CAD
And if it wasn’t enough:
All G7 meeting Friday and Saturday
Its going to be difficult to open a trade tomorrow, I’ll have to close it before the NFP announcement… so I guess I’ll only be watching…
Be careful with these announcements! Don’t put at risk what you have earned following your system.
Fundamental, interest rate, NFP
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.
Fundamental, market volatility, NFP