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  • How to trade NFP as a Forex trader

    From tradeciety.com

    The Nonfarm Payrolls (NFP) are among the biggest market movers in the Forex markets. At the first Friday of every month, the U.S. Bureau of Labor Statistics releases the numbers for new job creation in the US – along with other labor market data. The data includes all paid workers, excluding government employees, private households, non-profit organizations and the farming industry. It’s an important indicator for how well the US economy is doing and investors watch this report closely. Surprises and major changes in the released numbers can lead to significant price movements. In this article, we show you why ... (full story)

New traders:

never, never, never, never, EVER trade the NFP.

And I mean NEVER.
Not For Professionals )
NFP alone isn't a trend-changer, so just know where the Daily-Weekly trend is heading. Regardless the Employment number, hope for a short-term move against the trend, then enter in the direction of the trend. Just use a wider stoploss and size the position accordingly.
Quoting Rob Mondave
NFP alone isn't a trend-changer, so just know where the Daily-Weekly trend is heading. Regardless the Employment number, hope for a short-term move against the trend, then enter in the direction of the trend. Just use a wider stoploss and size the position accordingly.
NFP release could be near the reversal or just after reversal etc.
I cant remember the last time NFP was anything close to worthwhile, it just has the name, nothing more...
When I was noob i lost more money on nfp day!... Now its in my trade plan not To trade it and I never lose money on NFP day....

I highly recommend not trading NFP, FOMC, Rate decisions....
Really consider putting this into your trade plan...

It adds risk trading such big moves...

Keep your profits safe..
The only system that will work is one designed by and for yourself.
  •  Guest
  • | IP XXX.XXX.187.151
jack be fast, jack be quick, jack jump over the candle stick.
When I started trading in 2006 NFP was everything! We used to hold our breath when it came out and trade big because our orders were filled right away with no slip.

Now it is so very different. The ONLY things that move price like that anymore are central banks and commodity prices.
Quoting Josh44
When I started trading in 2006 NFP was everything! We used to hold our breath when it came out and trade big because our orders were filled right away with no slip.

Now it is so very different. The ONLY things that move price like that anymore are central banks and commodity prices.
now you're lucky if u get a 50 pip move lol
reduce risk, and don't rely on luck. If you are going to trade NFP, trade light...and don't be greedy.
"The market can remain irrational longer than you can remain solvent"
Quoting Josh44
When I started trading in 2006 NFP was everything! We used to hold our breath when it came out and trade big because our orders were filled right away with no slip.
Algos ruined everything First few minutes aren't tradable anymore for retail traders. only about 15m afterwards you can start looking to get you entries in but by then all the moves have been finished.
Quoting bloodpoodle
When I was noob i lost more money on nfp day!... Now its in my trade plan not To trade it and I never lose money on NFP day....

I highly recommend not trading NFP, FOMC, Rate decisions....
Really consider putting this into your trade plan...

It adds risk trading such big moves...

Keep your profits safe..
The only place you can keep your profit safe is under your matress ...pun intended....even there someone will come a get it

Seriously The best way to trade events safely is prior to the event...That is the predictable part of the trade.

Using your past unlearned lessons from your mistakes is not the best approach either. There need not be any fear in the Forex....just trade the right size lots relative to your account.
how about leave the nfp and trade the effect of nfp next week. monday and tuesday is free from red news so market can retain the nfp effects .[applicable only if the release has a significant effect in actual with the previous]
Mastering the Pair
  •  Guest
  • | IP XX.XXX.111.80
Guys the best plan to wait the last wave
(volatility) from NFP and when market become stable and calm then do your first entry(buy or sell) , Good Luck.
There is no such news as red news.....This indicate undue fear....Its not the news that determine the market movement....Usually by the time the news is out the market make most of the adjustment already....Like now the EURO is climbing now to a better place prior to NFP...The best time to trade EURO was either yesterday or the day before. No need to keep the trade open until NFP.....
Traders are giving space for volatility by keeping their hands out of market and brokers get better chance to SL hunt.
You cannot learn better without losing
So the solution is only set Take profit limit and use small lot trade Euro down with 5% of your account bal if it gets above 1.15 as it must get down to at least 1.135 before month end...Did I say must....90% probability.
  •  Guest
  • | IP XX.XXX.111.80
forexings. i agree 100% then we have to follow the brokers not the traders enter at market when brokers enter when market become calm after SL hunt .
I tried doing OCO orders, it works only sometimes lol.
  •  Guest
  • | IP XX.XXX.226.171
whichever way it goes, wait long enough for the stops to get taken out then trade in the opposite direction. if you can't work out where (most of) the stops are, then stay out until things calm down. you can also go into nfp fully hedged, but that is not for beginners.

btw, I am talking more about stock indices than forex.
  •  Guest
  • | IP XXX.XX.192.40
Close all trades prior to nfp. Capital preservation. Or trade the reversal setups and risk losing whatever you wagered.
Good idea...There are opps but they are not for the feint of heart
Forex Factory Slam of the week :--Tradeciety guiding novice traders.
There is another way of looking at it. One can view NFP day as gambling day and just go for it. If right, one stands to win substantially. Just make sure that if wrong, you can withstand the loss. In other words, one should not bite off more than one can chew.
If a loss will greatly affect you financially and psychologically, don't bother trading NFP.
A great boxer can give a punch but also take a punch!
  •  Guest
  • | IP XX.XXX.238.59
good comment SteveJ, especially the last sentence!

https://www.youtube.com/watch?v=nXeIoHQahbQ
  •  Guest
  • | IP XXX.XX.52.179
If you have tight take profits and no stop losses (or very large ones), do you think brokers will hunt your take profits?
  •  Guest
  • | IP XXX.XXX.147.103
You can trade it simply if you know how with stop loss. Risk is direction has probability to reverse sometimes. If its favor USD then it might sustain its upside. Contrary if dollar is sell off and it also very high chance of resume its rally back . But I don't trade EUR/USD on NFP . There are very good to pairs trade after NFP results this will surprise ! everyone
which are the best post NFP pairs to Trade?
By the way everyone; I gambled on NFP today and came out on top. I doubled my equity. As gold surged, the adrenalin flow was indescribable.
Next week I'll be more sober and be extremely careful with my trades; but for me, NFP day, will always be "have a go day."
Time to crack open a bottle of champagne. Cheers to all of you, from all of me!
Congrats

Its wasnt just NFP day, in fact it was a bigger AUD/NZD day

It was the turn of the RBA to play the dove role.....same result as when JPY EUR USD play that role.
Quoting Guest
If you have tight take profits and no stop losses (or very large ones), do you think brokers will hunt your take profits?

How will they effectively hunt your TP......Its means you will be able to set any TP then and get profitable
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  •  Guest
  • | IP XX.XX.9.173
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