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. …
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…
Trend Trading Pullbacks Trend Trading Pullbacks is the easiest way to trade forex! I just uploaded a new short promo video for my color coded trading systems, I hope you watch it and give it a thumbs up! Go HERE to download Cynthia’s FREE Breakout Trade Manager EA! I just want traders to know that my color coded trading systems are evergreen and will ALWAYS work… because… they are trend following and based on momentum or volatility. So no matter what the market conditions are or how the market changes, if you are trend following and using momentum indicators, you’ll…