Monday, November 06, 2006
Forex Day Trading System - Do you trade NFP (Non Farm Payroll)
Forex Day Trading System - Do you trade NFP (Non Farm Payroll)
Quite a few traders trade Non Farm Payroll which is a very volatile fundamental announcement. As you know this news moves the forex market at least 100-150 pips in just a minute on most of the USD based currency pairs (Except AUD/USD and NZD/USD).
So, most of the trades place the trades on both the sides of the overall forex currency pair range over last 1 hour on 1 minute chart. So, lets say on the 1 minute chart in past hour if EUR/USD has high of 1.2700 and low of 1.2675 with the current price of 1.2690, they will place a short trade to be invoked when currency pair reaches 1.2675 if currency starts going down after NFP is announced and they will place a buy at 1.2700 when the Non Farm Payroll announcement starts moving the currency pair up..So thats a powerful forex day trading system if..
And only if..your broker promises you that they will accept the order the moment you place it and closes also whenever the closing order is placed..
You see, since the volatility is very high when fundamental announcements are made, the volatility is very high and brokers don't execute the order immediately...So your order may get executed when the currency pair has already moved significantly..when you trade fundamental announcement, this is key point in to learn forex trading online .
Thats all in today's session on forex day trading system...visit more to learn forex trading online.
Quite a few traders trade Non Farm Payroll which is a very volatile fundamental announcement. As you know this news moves the forex market at least 100-150 pips in just a minute on most of the USD based currency pairs (Except AUD/USD and NZD/USD).
So, most of the trades place the trades on both the sides of the overall forex currency pair range over last 1 hour on 1 minute chart. So, lets say on the 1 minute chart in past hour if EUR/USD has high of 1.2700 and low of 1.2675 with the current price of 1.2690, they will place a short trade to be invoked when currency pair reaches 1.2675 if currency starts going down after NFP is announced and they will place a buy at 1.2700 when the Non Farm Payroll announcement starts moving the currency pair up..So thats a powerful forex day trading system if..
And only if..your broker promises you that they will accept the order the moment you place it and closes also whenever the closing order is placed..
You see, since the volatility is very high when fundamental announcements are made, the volatility is very high and brokers don't execute the order immediately...So your order may get executed when the currency pair has already moved significantly..when you trade fundamental announcement, this is key point in to learn forex trading online .
Thats all in today's session on forex day trading system...visit more to learn forex trading online.
