Sunday, April 08, 2007
Day trading the Forex: Zing is missing from the NFP announcements
Day trading the Forex: Zing is missing from the NFP announcements
Somehow that volatility for which Non farm payrolls and related fundamental news and announcements are famous, is missing.
Yesterday's NFP was $ bullish and EUR/USD currency moved only 80 pips as against the typical movement of 100-140 pips..
Is it because the NF payroll is not being treated as important by market anymore? This definitly is shift in pattern from past 3 declaration of this fundamental announcement.
I read a column at daily fx sometime back and from that article I concluded that since most of the fundamental trading is driven by US Dollar based news. Since, the economic factors change such interest hikes, change in inflation, policy outlook etc., the importance of the announcement changes . fore.gNFP may be important today, tomorrow ISM or FOMC may become more important.
Thats why it is very impirtant to be aware of whats happenning in US economic world when you are doing forex trading.
Oh yes, about my experience with Avi Frister's strategy - I made 35 pips in that. However, I lost 25 pips with the other strategy I was trying. In all a profit of 10 pips.
If you are interested in buying the ebook by Avi yourself, here is the link - Forex Trading Machine.
It includes my affiliate link and will help me earn some commision. Thanks if you end up buying the book through this link.
Thats all in this post..Visit again to learn more on currency trading in day or swing.
Somehow that volatility for which Non farm payrolls and related fundamental news and announcements are famous, is missing.
Yesterday's NFP was $ bullish and EUR/USD currency moved only 80 pips as against the typical movement of 100-140 pips..
Is it because the NF payroll is not being treated as important by market anymore? This definitly is shift in pattern from past 3 declaration of this fundamental announcement.
I read a column at daily fx sometime back and from that article I concluded that since most of the fundamental trading is driven by US Dollar based news. Since, the economic factors change such interest hikes, change in inflation, policy outlook etc., the importance of the announcement changes . fore.gNFP may be important today, tomorrow ISM or FOMC may become more important.
Thats why it is very impirtant to be aware of whats happenning in US economic world when you are doing forex trading.
Oh yes, about my experience with Avi Frister's strategy - I made 35 pips in that. However, I lost 25 pips with the other strategy I was trying. In all a profit of 10 pips.
If you are interested in buying the ebook by Avi yourself, here is the link - Forex Trading Machine.
It includes my affiliate link and will help me earn some commision. Thanks if you end up buying the book through this link.
Thats all in this post..Visit again to learn more on currency trading in day or swing.
Labels: avi frister, currency trading, forex day trading, fundamental announcement, fundamental news, nfp, non farm payroll
