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Game Plan for tomorrows employment numbers
- Thread starter globalfxllc
- Start date
30 pip loser to make 100 to 150 seems like a good risk reward.
Looks like some analysts are upping their numbers. bear is at 180k now! perfect.
with respect to the monthly jobs number. Which again is once a month along with the fact that we will only lose 30 pips to make 100 to 150 i am willing to give the guys a shot. if I didnt have guaranteed stops I would never let them do it.
This number is USUALLY a straight up or straight down move so we SHOULDNT get whipped around and stopped out.
It has worked 3 months in a row but you never know this one might not. especially now that I have posted it to the world!
This number is USUALLY a straight up or straight down move so we SHOULDNT get whipped around and stopped out.
It has worked 3 months in a row but you never know this one might not. especially now that I have posted it to the world!
Quote from globalfxllc:
with respect to the monthly jobs number. Which again is once a month along with the fact that we will only lose 30 pips to make 100 to 150 i am willing to give the guys a shot. if I didnt have guaranteed stops I would never let them do it.
This number is USUALLY a straight up or straight down move so we SHOULDNT get whipped around and stopped out.
It has worked 3 months in a row but you never know this one might not. especially now that I have posted it to the world!
I think the stock market and dollar are gonna whip around.. the market is prepared for anything.
A high number is good for some.. and bad for others. U can make a case for both sides. Unless we get a really high number then the dollar might make a big move... 300k+
My gut tells me it will be more of a muted number... somewhere in the 200's.
Quote from indahook:
What ever happened to sitting on your hands until the news is disseminated? If you have tight stops during this release you will get shaken out for sure only to watch it move back in your direction. I am no FX trader but have dabbled and it seems to me that a 15 or 20 pip move can happen in a heartbeat. Whatever...good luck!
GlobalFX Guys,
This is true - why would anyone possibly think that taking such a position with only a 20 PIP stop in front of such major news is a good idea?
What, you can see into the heads of thousands of traders, bankers and hedgers and predict how they will react?
I do happen to trade FX futures and can assure anyone (from bitter experience) that this type of trading is just like betting on "black" or "red" and HOPING.
T/A usually goes out the window during news reactions. Only after the dust settles can one then see that some support or resistance has been established.
The highest probability on a trade like this is getting stopped out.
I really can't believe you would advise other traders like this - bad advice IMO.
Regards,
Paul
you obviosly have never traded with GUARANTEED STOPS.
take a look at what the market has done on the monthly jobs number.
then tell us what you think.
take a look at what the market has done on the monthly jobs number.
then tell us what you think.