RULES:
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Use risk management 1%, less would be better.
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Open web fx that include fx calendar. We recommend for these website:
Berita Forex Terkini, Terakurat
Forex Factory
Forex News, FX Trading, Strategies, & Market Analysis @ DailyFX -
Look the date and adjust to our time (never miss adjusting date and time !!).
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Trade only EURUSD and GBPUSD (I limited my self to make more easier journaling).
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Choose only high impact news and those 3 fx news sources must be same result (all of them must pointed high impact one). Don’t trade on that news if one source not pointed high impact !!
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Look for the FORECAST, and compare with BEFORE value.
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Look for the ACTUAL , and compare with BEFORE value (ACTUAL result usually appear 3 - 30 minutes after news release).
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Compare FORECAST and ACTUAL result.
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Don’t trade if one sources have different result on forecast or actual (all of the sources must be in the same direction !!). Look for this table:
We still can trade if ACTUAL result same with FORECAST, but the result usually will more weaker movement. -
Look for other news that will be release near that time, and watch out if the result opposite (usually market will be zig-zag movement).
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If all rules meet, enter trade after news release (don’t jump trade as soon as actual result came, wait for a while !!). Usually the first movement will be fake movement, and hard to enter trade due to market busy factor. So, wait for a while.
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TP and SL must be equal or TP larger than SL would be better. Usually SL range would be (35 - 60 pips).
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For more advanced, calculate SL and TP with fibo line (H1 time frame for swing high and low).
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Open two position at once with the same SL but different TP target.
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SL position would be slightly further than fibo line, (but at least must be 35 pips).
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The first TP target would be the first fibo line.
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The second TP target would be the second fibo line.
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Move the second position to breakeven as soon as the first TP closed.
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Look for first class news like :
- Non-Farm Payroll (NFP)
- Consumer Price Index (CPI)
- Gross Domestic Product (GDP)
- Retail Sales
- Unemployment
- Interest Rate
- Look too for second class news like :
- Consumer Confidence
- Home Sales
- PPI
- PMI
- Trade Balance
Sources:
- Broker Forex Terbaik | Informasi Forex Broker Terpercaya
- Spidypips Journal