Tag: non-farm payrolls report

Please! Stop trading the Non-farm Payrolls report

Non farm Payrolls report

What is it with traders that still like to trade the NFP report?

I mean, a few years ago it would seem like the way to go, the market would move 100 or even 200 pips in just a few minutes…

I even knew a few traders that only traded the first friday of the month, that’s when the NFP report is released. But back then the market moved like crazy around those times.

And the strategy was very simple to follow:

A few minutes before the news announcement, traders would set a buy order, say 20 pips above market action, and a sell order 20 pips below t it. And wait for the market to trigger either one of them…

The market would trigger one of them, they’d sit back, relax and see the they account grow by the minute…

But now its different…

non-farm payrolls report

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Do you still trade the NFP report?

Ahhh remember those days when the EURUSD could move 200 pips in a few minutes after the Non-farm payrolls announcement?

I do… lots of traders used the straddle technique, placing stop entry orders on both sides:

  • Buy order a few pips above the market
  • Sell order a few pips below the market

One of the orders would trigger and done for the day!

fundamental announcements, non-farm payrolls report

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