A winning NFP morning – Friday’s live trading…
A short on cable this morning which ran to target but the point is I had to be in the trade early or never would have got in once the news was released at 9.30…
A short on cable this morning which ran to target but the point is I had to be in the trade early or never would have got in once the news was released at 9.30…
6 Comments
Hi Charlie
Nice trade example with good demonstration of risk management and patience.
Do you find that trades often go to target on news releases?
I ask because I’ve seen many advise to exit trades before news releases, but you held through it.
Regards,
Jim
They can do yes but obviously some turn around and go the other way. I’m not fussed about holding through news in this current environment but there’s always the potential for slippage if it goes against you. So if planning to hold through new, always allow for slippage when assessing what position size to put on.
But having said that I’m normally flat going into something like NFP or central bank rate decisions if day trading, obviously swings are fine…
Charlie
I don’t know if your brokers don’t, but if I want my broker protects my trades from slippage, in other words they execute my exact stop loss even if the price jump the level I wanted like in NFP cases for example. They just add 2pips as a fee for the service, I use that a lot when I want to use the NFP to gamble a bit, I admit 😉
No I trade in the real market so don’t have that sort of function.
Hi charlie, basic but had to ask, when you say 1 unit are you referring to a discretionary amount per point as in spreadbet or do you CFD trade? If so why cfd over spreadbet?
Just habit saying the word unit. I trade fx lots do one unit is one lot