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NFP Feb 2

  • #41
  • Feb 2, 2007 1:26pm Feb 2, 2007 1:26pm
Not only that spread went to 200, it also went offline for many people for at least 10 minutes after the release, this has happened few times before, but this time beeing prepared i decided not to set any stops and that was some wise decision on my part i must say ( not to brag or anything) , the only reason im with oanda is my relatively small account and the fact that they are quite reliable for filling the orders.
  • #42
  • Feb 2, 2007 1:38pm Feb 2, 2007 1:38pm
http://www2.oanda.com/cgi-bin/msgboa...7;t=002925;p=1
  • #43
  • Feb 2, 2007 2:36pm Feb 2, 2007 2:36pm
Are you missing the boat? most people on this tread i think missed the boat.
as I have read these comments of how non Farm didn't do very well or that the market moved before the release or how they only claimed 12-17 pips on the move. I was able to capture 56 pips on my trade and my order was closed about 3 pips from its high peak today,

I entered last night at about 11:00 pm Est I was a fully aware what the market was going to do....how you ask? I use the Fibonacci Price Extention tool. I use a charting program (not a brokers charts) that has it as a tool and I capture all my Take Profit trades using it. see the screen shot of how the market called the move I didn't even trade Non Farm the way most of you tried. I was well aware of what was to happen before it even did it.

The point i am making is, once you have a idea of what the market is going to do you dont need to worry about what you are going to do! if that makes sense.

hope this helps
4XPIPDADDY
  • #44
  • Feb 2, 2007 2:52pm Feb 2, 2007 2:52pm
this chart should help show how the Fibonacci Price Projection helps you know when to put your Take Profits
Attached File(s)
File Type: doc 1.doc   30 KB | 472 downloads
4XPIPDADDY
  • #45
  • Feb 2, 2007 3:12pm Feb 2, 2007 3:12pm
Quoting 4xpipdaddy
this chart should help show how the Fibonacci Price Projection helps you know when to put your Take Profits
wow you can post a chart lol , that explains nothing bro, no offence. U may want to explain a bit more because im sure everyone had the fibs on there as well, or at least i did
Ghost Swoopen in for my pips while no one is lookin !!
  • #46
  • Feb 2, 2007 6:42pm Feb 2, 2007 6:42pm
Quoting Ghostpipper
wow you can post a chart lol , that explains nothing bro, no offence. U may want to explain a bit more because im sure everyone had the fibs on there as well, or at least i did
Ghost your exactly right about his post. He could not know in advance what the numbers are, then about the revisions, and then most importantly that the article about EU IR would come out. Todays trading was all fundamental and had nothing to do with charts or anything technical for that matter. In fact most tech. levels were breached (In the case of EUR/USD) and the reason most went long. I made my pips on the short side by being patient and not gambling as the guy making wild claims did.
  • #47
  • Feb 2, 2007 8:50pm Feb 2, 2007 8:50pm
Is anyone using a non-dealing desk and getting better executions during NFP than their previous experience with a dealing desk?

James

Quoting kevinsw
Got to be FXCM

I got in and was up about 50 pips, T/S didn't work, and my S/L changed from -15 to around -515 when I tried to save some pips.

still up by 50 pips I closed the trade had to wait on the broker, had to go potty and my close was offered at a lower price while I was out of the room.

BUT on the brighter side I still got out with +22 pips.

kevin
  • #48
  • Edited 10:57pm Feb 2, 2007 10:12pm | Edited 10:57pm
Quoting Rolandlc33
No change in spread? I bet their are a thousand other traders that would beg to differ. Facts are facts... Oanda spreads get very large during most news releases. The free ride is over with them and you must move on. You made a choice going with a variable spread broker. To each his own.
Yes got it!!!
  • #49
  • Feb 3, 2007 5:02am Feb 3, 2007 5:02am
Curious; does anyone have any clue as to why GBPUSD recovered from 1.9640 at 9:28 to 1.9670 in just a tick?

EURUSD didnot recover at this time....
  • #50
  • Feb 3, 2007 5:21am Feb 3, 2007 5:21am
Could it be that, the US economy is really moderating and is not as rosy as everybody think it is, and that's why USD dropped which caused cable to rise. But for euro, there was a rumour from marketwatch regarding ECB's rate hikes, and that in turn caused the euro to remain where it is.
  • #51
  • Feb 3, 2007 6:03am Feb 3, 2007 6:03am
  •  Trader#0000
  • | Status: Unregistered Trader
There are also rumors for an additional hike by the BOE. See their latest meeting. 5-4 if I remember correctly?

I think the latest hike was a huge surprise and thats what keeping the Pound strong. But I'm guessing it will go down this week, maybe retest 9500? Will see...
  • #52
  • Feb 3, 2007 7:20am Feb 3, 2007 7:20am
Quoting ForexDude2
There are also rumors for an additional hike by the BOE. See their latest meeting. 5-4 if I remember correctly?

I think the latest hike was a huge surprise and thats what keeping the Pound strong. But I'm guessing it will go down this week, maybe retest 9500? Will see...
I personally want to see GBPUSD shoot up to 2.00 so I can short it from there. I personally missed the chance to short it when it hit 1.9900 2 weeks ago (but I did have a 1.9850 short at that time).
  • #53
  • Feb 3, 2007 12:26pm Feb 3, 2007 12:26pm
Quoting BurgerKing
Curious; does anyone have any clue as to why GBPUSD recovered from 1.9640 at 9:28 to 1.9670 in just a tick?

EURUSD didnot recover at this time....
I didn't see that, I'm I missing something? 9:28 est?
  • #54
  • Feb 3, 2007 6:26pm Feb 3, 2007 6:26pm
traded the NFP, went short what then looked like a bounce, lost 10 pips as where the big sellers should have came in did not.

Yes it has been quite strange lately how a bearish news for the USD quickly goes the other way- almost as if all the banks, investments houses buy up in that time to get a bargin.
  • #55
  • Feb 3, 2007 8:20pm Feb 3, 2007 8:20pm
Last friday's NFP did not have the usual reaction that we get at NFP news. It was affected by the yearly revision which showed that thousand more jobs were created during 2006 than was first reported. Hence the dollar fell on the headline number then a delayed reaction was to buy dollar on the yearly revision number.
  • #56
  • Last Post: Feb 4, 2007 10:51am Feb 4, 2007 10:51am
Quoting PipStar
Last friday's NFP did not have the usual reaction that we get at NFP news. It was affected by the yearly revision which showed that thousand more jobs were created during 2006 than was first reported. Hence the dollar fell on the headline number then a delayed reaction was to buy dollar on the yearly revision number.

ah yes, that could be the case. Seems lately the Yen makes a U-turn not just on NFP. Durable goods, ISM manufacturing, etc... all seemed one-sided but minutes later, it turns the other way.

Good point on the revisions. My take on this is that when the number is reported, the wave of initial reaction is bearish- and the chart justifies it. However, as the revisions come in, people had a different subjective view, and quickly goes the other way.

My take on this now when trading the news is that don't short the first bounce unless the number is way out of line. Wait a couple of more minutes to get all the news and then short the next bounce/ buy the next dip when I see a clear imbalance between buyers/sellers.
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