Tuesday, September 04, 2007
Forex Day Trading system - The market trigger called NFP
Forex Day Trading system - The market trigger called NFP
Currently the forex market is range trading..Its not trending at all. Thats what happens when a fundamental announcement is about to come out. If the fundemental news is not big, the range bound movement may happen on the 15 min chart. However if the fundamental announcement is as big as NFP (Non farm payroll), then the range bound movemet can be seen on the hourly or even the day chart.
Thats wh the fundamental nnouncement is important. It can help in understanding why the market is trending or is range bound.
The NFP is one of the very highly observed fundamental announcements. The market moves more han 50+ pips in mere seconds. If you catch the wave correctly, you'll end up making faboulous profit. However, if the trade is not right, well, your account may see a reduction in balance.
I would not suggest you to trade the NFP announcement, UNLESS you have a solid system. Lot of people claimed to have a good NFP trdaing system, but their strategy was way too risky and was not good in terms of risk to reward.
If you have to use a system, I would recommend you to try out the one recommended by Avi Frister in his package of Forex Trading Machine. This ebook is very nice, easy to understand and yet easy to follow. Following that strategy, the amount of pips in profit are quite nice.
Now, I know you are tempted to buy it, but I would suggest you to try that out on a demo account 1st..Once you become comfortabe,you can apply the strategy on the real account.
However, if you do not have a system, I would strongly suggest you to stay away from the Nonfarm payrolls (NFP) announcements and not trade at all when this news is coming out.
Thats all in this sesion..Visit again to learn more on online forex day trading.
Currently the forex market is range trading..Its not trending at all. Thats what happens when a fundamental announcement is about to come out. If the fundemental news is not big, the range bound movement may happen on the 15 min chart. However if the fundamental announcement is as big as NFP (Non farm payroll), then the range bound movemet can be seen on the hourly or even the day chart.
Thats wh the fundamental nnouncement is important. It can help in understanding why the market is trending or is range bound.
The NFP is one of the very highly observed fundamental announcements. The market moves more han 50+ pips in mere seconds. If you catch the wave correctly, you'll end up making faboulous profit. However, if the trade is not right, well, your account may see a reduction in balance.
I would not suggest you to trade the NFP announcement, UNLESS you have a solid system. Lot of people claimed to have a good NFP trdaing system, but their strategy was way too risky and was not good in terms of risk to reward.
If you have to use a system, I would recommend you to try out the one recommended by Avi Frister in his package of Forex Trading Machine. This ebook is very nice, easy to understand and yet easy to follow. Following that strategy, the amount of pips in profit are quite nice.
Now, I know you are tempted to buy it, but I would suggest you to try that out on a demo account 1st..Once you become comfortabe,you can apply the strategy on the real account.
However, if you do not have a system, I would strongly suggest you to stay away from the Nonfarm payrolls (NFP) announcements and not trade at all when this news is coming out.
Thats all in this sesion..Visit again to learn more on online forex day trading.
Labels: avi frister, forex trading ebook, forex trading machine, fundamental announcement, fundamental news, nfp, non farm payroll
Comments:
<< Home
Say I ran across your blog and it looks a lot like the situation I'm in -- collecting trading advice, how to learn forex, blogging about it. But I just started and you've been doing this for over a year, right?
So, are you making any money? Are you currently actively trading forex or just researching products, trends, etc??
So, are you making any money? Are you currently actively trading forex or just researching products, trends, etc??
# posted by 
: 12:11 PM
: 12:11 PM
How much time should I spend on a Demo a/c using Avi's system ?
I'm really looking forward to implementing the system & having you as a trading partner !
Dhimit
Post a Comment
I'm really looking forward to implementing the system & having you as a trading partner !
Dhimit
<< Home
