FOMC Meeting Minutes impact
FOMC Meeting Minutes will be arranged at 02:00. Setup a trading position when the time is 01:59. Note the current High and Low of the current candle stick.
High = 1318.7
Low = 1317.3
Place stop buy at 1318.7 and stop sell at 1317.3. When the time has come (02:00), it will hit one of the other position (In this case it hits short position). Wait until 5 minute has passed, then close the position manually at market price.
For news impact trading, put all the money you got in the port and open maximum allowable contract size
1 contract size requires $3,850
EP to SL = 1.4 tick = -$140
Commission fee = -$30 (per 2 times position)
EP to TP = 2.5 tick = +$250
Risk/Reward Ratio = 1.47
%ROI = 250/3850 = 6.49%
I have $50,000 in port
Maximum allowable contract size = 50,000/3,850 = 12.98 = 12 contracts
I will gain $250 * 12 = $3,000
I will lose -$170 * 12 = -$2,040