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NFP..... eh?.... what?.... who?

Discussion in 'Beginners Bootcamp' started by Ricex, Nov 5, 2009.

  1. Ricex

    Ricex Sergeant

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    If your new to forex and haven't heard of NFP (Non farm payrolls) I suggest that you put aside a moment of time to find out more about it and it's effect on the market. It is very important and should be on your 'need to know' list.

    I won't go into detail here, just do a search on this site or go here to look at the last release Employment Situation Summary

    BTW it's tomorrow so be careful and be aware it can bite.
     
  2. Ricex

    Ricex Sergeant

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    Well I hope you all came out of that unscathed and maybe, just maybe you even managed to bag a few pips if you were brave enough to jump in. If you sat watching, good for you a wise move, you can easily wipe out a weeks work and more.

    I hope you see that this is a must know date for the diary and to be prepared.

    I personally took a half stakes short punt on EUR/JPY which finished the week off very nicely, any long plays in that pair are long gone. I wasn't going to trade the CAD news but it was looking very leaked to the upside well before time, so couldn't really say no.

    Should be a calmer start to next week, dollar index still looking weak having not made a higher high as yet today and currently below all pivot points, but as we know things can change quite quickly on planet forex.
     
  3. Ricex

    Ricex Sergeant

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    It's that time of the month feeling again folks!! Non-farm Friday is approaching and as an added bonus this week we are throwing in a Bernankey special on Thursday, so get those forex calendars out and make sure you've got it nailed down cos I feel the end of the week is gonna rock & roll....
     
  4. Eric Alyea

    Eric Alyea Master Sergeant

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    Oct. fundamentals vs. Nov. charts

    look at the timing.
    The fundamentals have to go with the technical. Especially after the Oct. budged pass and then....well. This is why I ask these questions.
    Hell I even ask Nancy about this 3 weeks ago.
    S--t I'm still a newbie
     
  5. Pharaoh

    Pharaoh Colonel

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    My best advice for technical traders ahead of NFP - Close everything or at least tighten up your stoploss about an hour before the fun begins. Once the volatility settles, resume trading normally unless it's big enough to change the major trends.
     
  6. Forexwatchman

    Forexwatchman Sergeant

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    Only 11,000 jobs lost in Nov.; Unemployment rate dips to 10 percent

    And boy did this months NFP and unemployment rate numbers pop off in the markets. The move was huge due to the dramatically better than expected numbers and I managed to get 48 pips in under 10 minutes trading the EUR/USD where the spread never changed. This was only my 2nd time trading the news, something I don't see much potential in doing over the longrun but with clear cut indications from the numbers this month, I couldn't just stand on the sidelines. How did everyone else do?
     
  7. Ricex

    Ricex Sergeant

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    Well done, I didn't trade it this month, question is now will it stick for any decent period of time or fade away like so many times before?
     
  8. Ricex

    Ricex Sergeant

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    This one could be a mover

    Hi,

    NFP figures for the last 11 months:

    2009 -741 -681 -652 -519 -303 -463 -304 -154 -139 -111(P) -11(P)......

    place your bets...

    I shall be sitting this one out and put on my spectator hat, it would be very easy to lose all your pips for the week on one loose cannon. The anticipation in the market is clear to see with euro/usd just revving the engine.

    My advice is to be careful today and keep your cards close to your chest, let the titans work it out amongst themselves and once the direction is clear then jump on the train.
     
  9. cowmadagan

    cowmadagan Sergeant

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    I've got the heebeegeebees.
     
  10. cowmadagan

    cowmadagan Sergeant

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    rrrrrrgh....I knew it....
     

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