How Did You Trade the NFP? | Forex Factory

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How Did You Trade the NFP?

  • #1
  • First Post: May 4, 2007 11:31am May 4, 2007 11:31am
I just want to collect information on what techniques were used to trade the NFP. Mine first:

Long GBP/USD after price retraced into the 9870 area.
  • #2
  • May 4, 2007 11:33am May 4, 2007 11:33am
from my bed sleeping

But really I only fade it with price action specifically the euro, but it just never really moved much so i closed


enjoy the weekend
mike
  • #3
  • May 4, 2007 11:35am May 4, 2007 11:35am
My best luck has been with fading the "main bang" i.e. the initial big move.
You are in a maze of twisty little passages, all alike.
  • #4
  • May 4, 2007 11:39am May 4, 2007 11:39am
I used the straddle technique.
  • #5
  • May 4, 2007 11:41am May 4, 2007 11:41am
Quoting NewstraderFX
I just want to collect information on what techniques were used to trade the NFP. Mine first:

Long GBP/USD after price retraced into the 9870 area.
I put a buy in about an hour before NFP at 1.9870 after I saw a bounce. and knowing the trend is up and still intact. No reason to short yet. NFP helped, but was not a News trade for me.
  • #6
  • May 4, 2007 11:43am May 4, 2007 11:43am
Straddle trade entered 30 sec before the release.
Exit after the spread comes back down to normal and still in profit.
  • #7
  • May 4, 2007 11:47am May 4, 2007 11:47am
http://www.forexfactory.com/showpost...8&postcount=19

Seriously, NFP used to bite me in the "fleshy part of the human body that you sit on" every month.

the reason I brag so much on this ocassion is this is the 3rd month in a row that I get it right... ema crosses on MTF.
  • #8
  • May 4, 2007 11:59am May 4, 2007 11:59am
Enjoying the (not much of a) show... planning for the week ahead!
  • #9
  • May 4, 2007 12:15pm May 4, 2007 12:15pm
i entered b4 the spike. 100K was just too much
100% of traders are losers. Just that some win more than they lose!
  • #10
  • May 4, 2007 1:58pm May 4, 2007 1:58pm
i tried to sell the euro on the 4h @ 13530-50, no luck.
  • #11
  • May 4, 2007 2:16pm May 4, 2007 2:16pm
I closed my open $ positions and stood aside.
Mr. Trend
  • #12
  • May 4, 2007 2:25pm May 4, 2007 2:25pm
At the close of the 5min. candle immediately after the NFP Report, I entered Long at 1.3560. Prices stalled at the 55EMA, where I booked profits at 1.3590. Shortly thereafter (see: Murphy's Law) it broke resistance and pushed through 3600 and into 3620 resistance. I entered Short there for a quick retrace of 17 pips and booked profits.

Overall a good day. Hindsight, I was lucky on the Short retrace position, because had it broken 3620, 3665 was next on the cards.....
  • #13
  • May 4, 2007 3:00pm May 4, 2007 3:00pm
Quoting NewstraderFX
I just want to collect information on what techniques were used to trade the NFP. Mine first:

Long GBP/USD after price retraced into the 9870 area.
Same here... realizing the revision is key on NFP.

I was long from 9860 area already, just added heavily by the first pullback at 9880
  • #14
  • May 4, 2007 3:17pm May 4, 2007 3:17pm
Today was a non-trade day. Far far away. Played some golf, watched the news and had lunch with the wife.
  • #15
  • May 4, 2007 3:41pm May 4, 2007 3:41pm
I took the position of not being in the market. Guess what, never lost a cent
  • #16
  • May 4, 2007 3:53pm May 4, 2007 3:53pm
Very Carefully!
  • #17
  • Edited 4:43pm May 4, 2007 4:31pm | Edited 4:43pm
I don't trade fundamentals. I trade 4 hour charts and daily charts with 12 currency pairs. As a full time trader, I am all technical.
  • #18
  • May 4, 2007 4:44pm May 4, 2007 4:44pm
Quoting NewstraderFX
I just want to collect information on what techniques were used to trade the NFP. Mine first:

Long GBP/USD after price retraced into the 9870 area.
That was my plan as well, a 50% retrace of the initial spike which came out to 9881. With the ho hum news I thought it might get 20 pips but wound up with 50.


Richard
  • #19
  • May 4, 2007 5:31pm May 4, 2007 5:31pm
If I've learned anything... it's that I'm no where near detached enough to play the news. I too stayed on the sidelines waiting for the dust to settle before I got back in to finish with a few pips in pocket!
  • #20
  • May 4, 2007 6:15pm May 4, 2007 6:15pm
Quoting willf
I took the position of not being in the market. Guess what, never lost a cent
That's the best position to prevent from loosing money... Problem is that it prevents from making it as well
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