Trading NFP

Looking at the last few months NPF, whether the numbers are good or bad, there are wild swings both up and down.

So,

Wait half an hour before the news release, go long and short placing take profits 20 pips away from your entry point for both trades. When the news hits and price gets whipsawed all over, tp is hit both up and down.

Can someone tell me, when will that not work? ok only 40 pips, but what the hell, it's 40 pips.

So did it work or did you get slipped 80 pips to make those 40?

I haven't tried it yet, not even on demo. I'm still looking around and getting a feel for forex. I'll try it on demo and see what happens, but live trading will be completely different anyway.

First, I need to know the difference between slippage and drawdown. Yes, this idea involves significant pip movement in your direction and against you so you see a profit which will be offset with the loss and as your tp is hit you wil have a loss staring you in the face, which should diminish as the price whipsaws around. I would go and make a cup of tea or have a beer as watching the rollercoaster screen may churn my stomach.