Usd Chf
Buy1 - 0.8775
Buy2 - 0.8750
SL - 0.8720
Gbp Jpy
Sell1 - 173.00
Sell2 - 173.40
SL - 173.70
Aud Usd
Buy1 - 0.9250
Buy2 - 0.9230
SL - 0.9200
Nzd Usd
Sell1 - 0.8635
Sell2 - 0.8665
SL - 0.8695
Cad Jpy
Sell1 - 93.60
Sell2 - 93.80
SL - 94.10
Aud Chf
Buy1 - 0.8135
Buy2 - 0.8115
SL - 0.8085
Thanks mate, is there any way I can learn something from you.
Eur Nzd
Buy1 - 1.6020
Buy2 - 1.5970
SL - 1.5940
Usd Jpy
Sell1 - 102.75
Sell2 - 102.95
SL - 103.25
Nzd Jpy
Sell1 - 88.70
Sell2 - 88.90
SL - 89.20
Is it safe to trade today with NFP news
I would say usually no but it seems harsha has advised wide enough stop losses today that would have accounted for that. It seems to me that most if not all of those signals would have worked out more or less. Depending on how much profit you were looking to take. In my opinion anything is risky on NFP day though.
For newer traders, yes, I’d typically advise to not trade a live account on NFP the first 3-5 releases. Trade a demo account until you can build your own strategy. Don’t get confused that it’s “too risky” to trade on/around NFP- If you manage your leverage, and have a solid strategy you can make a lot of money in a short amount of time.
Harsha, I’ve been watching some of your signals. It seems like our methodologies may be similar as I’m seeing some similarities in our entries. What’s your main strategy?
At forex unlimited, what is the methodology? Do you mind sharing with us
Thanks
Well I am a newbie who has experimented with NFP trading with not much success. I can see how it may be possible to gain a quick profit but I haven’t been able to take advantage myself. I guess on most NFP releases straddle trades would work but i’d love to hear from someone with more experience how it’s done right. That’s where you come in FOREXunlimited wink wink 
A straddle would be more suited for options trading- you can’t really go long and short @ the same time in the spot FX market. You can use options/futures contracts to hedge a position you’ve taken on spot though. But, this is advanced terminology/methodologies and should only be attempted by an experienced trader with a profitable system already in place.
I have many strategies which I employ in different market environments, across different investment vehicles. When it comes to NFP trading on the spot market though, typically, I’m [I]simply[/I] looking to fade rallies…in other words- buy into weakness, sell into strength. The majority of the time when NFP is released, the market will spike a quick 40, 50, 60 pips in 5-10 minutes. Afterward, price typically returns back to the origin point of the initial move fueled by the event.
I identify trades by using:
-FXCM Strong/Weak Application
-Price action (structure heading into the release / during / 5 minutes afterward, candlesticks, volatility, horizontal S/R, recognizable patterns)
-Supply/Demand analysis
-Stochastic momentum indicator
-Multiple timeframe analysis (From D1 all the way down to M5 to time entry and exit)
When it comes to NFP, I’ll typically leverage myself out a bit more than normal. I like to utilize less than 10:1 leverage on an average trading session. For NFP, I’ll push it out to 15:1, 20:1 because of the potential to make money in a short period of time. Additionally, I “require” more “things” to be in my favor to take a trade. What does that mean?
Trading on an average day, let’s say I have only 3 or 4 requirements which justify a trade. For NFP, I require 5. This should make sense logically, seeing that I mentioned I’m over-leveraging myself. So, in order for me to justify such an action, I like to ensure that my analysis is a bit deeper than normal.
Many times, I’ve traded NFP and never even knew what the printed figure was. Quite frankly- I can care less if the release was better than expected, worse, or smack on the money with consensus. I barely pay attention to fundamentals. The spot market is forward looking, and the thoughts/beliefs/emotions of every single market participant will always be factored into price. Price is the only piece of information you really need to have in front of you. Trendlines, FIBS, indicators - these are just tools which help interpret movements in price.
Most of the time, newer traders get frustrated beyond belief when a major fundamental release hits the wire and [I]should be[/I] bullish for a particular currency, but the opposite happens. In my experience, this is solely because the technicals do not support the fundamentals. When that happens, you need to be taking a contrarian position to the fundies.
To me, this is why I’ve abandoned any efforts on paying attention to fundamentals. I rely solely on technical analysis. This is not to say that strategies aren’t built around one or the other and aren’t profitable. This is just my opinion and how my personality matches up with trading strategies available.
Any signals for today mate
Conclusion for 2nd May
Totally 9 signals
Usd Chf - missed the entry levles
Gbp Jpy - TP3 Hit ( 90 pips )
Aud USd - TP1 Hit ( 30 pips )
Nzd Usd - TP1 Hit ( 30 pips )
Cad Jpy - TP2 Hit ( 60 pips )
Aud Chf - TP1 Hit ( 30 pips )
Eur Nzd - TP2 HIt ( 60 pips )
Usd Jpy - TP3 Hit ( 90 pips )
Nzd Jpy - TP2 Git ( 60 pips )
Usd Chf
Buy1 - 0.8775
Buy2 - 0.8750
SL - 0.8720
Eur Jpy
Buy1 - 141.15
Buy2 - 140.85
SL - 140.55
Gbp Chf
Buy1 - 1.4785
Buy2 - 1.4755
SL - 1.4725
Eur Nzd
Buy1 - 1.6000
Buy2 - 1.5975
SL - 1.5945
Aud Chf
Buy1 - 0.8115
Buy2 - 0.8085
SL - 0.8055
Aud Nzd
Buy1 - 1.0690
Buy2 - 1.0650
SL - 1.0620
Eur Chf
Buy - 1.2170
SL - 1.2140
SILVER
Sell1 - 19.75
Sell2 - 19.90
SL - 20.20
Conclusion for 5th May
Totally 8 signals
Usd Chf - Trade still open
Eur Jpy - Missed the entry levels
Gbp Chf - Trade still open
Eur Nzd - SL Hit
Aud Chf - TP1 Hit ( 30 pips )
Aud Nzd - Trade still open
Eur Chf - Trade still open
Silver - Trade still open
Usd Chf
Buy1 - 0.8775
Buy2 - 0.8750
SL - 0.8720
Gbp Usd
Sell1 - 1.6905
Sell2 - 1.6920
SL - 1.6950
Nzd Jpy
Sell1 - 88.85
Sell2 - 89.10
SL - 89.40
Eur Nzd
Buy1 - 1.5940
Buy2 - 1.5910
SL - 1.5880
Aud Nzd
Buy1 - 1.0670
Buy2 - 1.0645
SL - 1.0620
Eur Chf
Buy1 - 1.2170
SL - 1.2140
Silver
Sell1 - 19.75
Sell2 - 19.90
SL - 20.20
Chf Jpy
Sell1 - 116.75
Sell2 - 117.00
SL- 117.30
Cad chf
Buy1 - 0.7985
Buy2 - 0.7960
SL - 0.7930
Gbp/usd and usd/chf all have hit their stop losses. That hurt dude
YES, u r right, Market DO Hurt sometimes