Dear MT4 Forex Trader, Do you wish you could be a lazy trader? Meaning, you’d like to make lots of pips without staring at your charts or even looking at them more than a couple times a day…. Is this you? Well you’re not alone…most traders wish this were true for them. I was like that once upon a time, but no longer.  Here’s how and why. I’ve been using various MT4 Trade Managers for several years and I always talk about them on my websites and in my emails. Trade Managers make your trading experience less stressful, and allows…

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How To Trade Red Economic News Events SCALPING A RED NEWS EVENT If I’m scalping to a red news event, I’ll trade in the direction of the Daily trend, using the scalping 3 chart set up.  Using a trade manager is imperative, but the take profit and stop settings need to be wide, like if you were swing trading, because a news event has the potential to move a pair anywhere from 40 pips to hundreds of pips. For news trading, you have to use the Forex Factory Calendar to choose the red economic news events you want to trade. …

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  NonFarm Payrolls is the most important economic news event for the US market. The U.S. Nonfarm Payrolls and Unemployment Rate, or NFP for short, comes out the first Friday of each month at 7:30 am EST.  Besides FOMC announcements, NFP is one of the most volatile economic news trading events of the month. The NFP is released by the U.S. Department of Labor on the first Friday of each month, outlining changes in the number of employees, excluding farm workers and those employed by the government, non-profit organizations and private households. The NFP release, per market consensus, is expected…

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