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Non Farm Payrolls

Discussion in 'Beginners Bootcamp' started by SwingTrader1, Jun 29, 2010.

  1. SwingTrader1

    SwingTrader1 Recruit

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    This months non farm payrolls look horrible for the US

    What does this mean? I don't know, thats the short answer.

    The long answer is (just my opinion) I think the EUR/USD will go up.

    What I am loking for is an entry to go long at;

    1) buy at 1.2170 stop of 25 pips limit is your choice Im out after 100 pips unless I am at my monitor then I may adjust my stop loss.

    2) buy at 1.2100 stop of 25 pips limit 100 pips. If you happen to be in front of your monitor adjust your stop loss and ride it up

    3) buy at 1.2015 stop of 25 pips limit 100 pips.

    Note stop does not include spread you need to do that. I pay 3 pips on the EUR/USD so my stop is 28 pips total.

    This is just one traders opinion.
     
    #1 SwingTrader1, Jun 29, 2010
    Last edited: Jul 1, 2010
  2. Pharaoh

    Pharaoh Colonel

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    Good point on including the spread in your calculations. A lot of people miss that detail.
     
  3. SwingTrader1

    SwingTrader1 Recruit

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    Ding Ding Ding

    Im new to this forum and dont really know anyone here.

    I posted a trade setup a few days ago I got filled at 1.2170 made a quick 100 pips the market went up quite a bit more than that. I dont sit in front of my computer all day. I just make some calculations and then place my trades.
    Take a small profit if I get it and keep my losses small.

    First I would like to hear from anyone who saw the post. Im kind of hoping there was a cowboy out there who actually made the trade but I doubt that happened.

    Anyway the numbers I posted still stand as support. Im going to revise my numbers tomorrow morning and post new ones if needed before the NFP.

    This could get interesting. See you tomorrow.
     
    #3 SwingTrader1, Jul 1, 2010
    Last edited: Jul 1, 2010
  4. SwingTrader1

    SwingTrader1 Recruit

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    NFP

    05:25

    The market has gone quite a ways up. Looks to me like it already took into account the news announcement somewhat. However Never really know whats going to happen.


    Im going long at these levels;

    1) long @1.2374, stop 28 pips, limit 100 pips

    2) long @ 1.2331, stop 28 pips limit 100 pips

    3) long @ 1.2278 stop 28 pip limit 100 pips
     

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