We are one day away from NFP, so I just want to make sure you are ready!
I just wanted to let you know how you should use this signal, to not burn your account, and to make profit from it!
I had guys burning account just because they go full bank in the trade, and risk all money!
This is not right because just seconds before the event it can spike!
Let's say 1 min before I get long signal, you enter full bank Long, but seconds before the event it can go short ( spike ) and that spike can kick you hard!
I cannot tell how far it goes, so therefore these signals are meant to be taken with higher risk than you would take on daily basis!
Let's say if you trade on average 1-2 lots, then you should take the event with 2-4 lots, but with smaller TP range, and still with relatively small TP range, you will make some good amount of money.
If I have 100k account and I take 30 lots with 50 pip TP, it is more than enough, and I can live the whole month pain free, but remember that every month we have approx 4-5 stable events, so 30 lots x 50 pips 5 times a month and you can forget about day trading ( It was just an example ).
We have to filter the events.
Speeches can be unstable, meaning it can spike and then turnaround so TP is always a MUST always for trade like this!
For example, I have a feeling that this NFP should print Good data, meaning that gold , as well almost any XXX/USD pair should go up, and USD/XXX pairs down. So If I get Short signal before NFP, I would consider puting wider TP range, because it should be stable, and go down a lot. But if I get long signal I would be cautious with my trade because it can be a spike up, and then the big move down, but anyway I want to be sure that I take that spike ( remember with higher risk ) so still it is a free money.
The same goes Vice Versa!
And of course it is fine if you have a trade plan and you already have a feeling where the pair you trade should be going, so u can get confirmation by getting this signal, to compare!
Anyway October 7 will be a big day!
For those who can come live, I will be on Periscope as always, so you get live Signal, for those who cannot, I will be publishing Idea here on TV and updating before the event so you don't miss that as well!
Trade with care!
Last NFP idea attached in related Ideas!
Sorry! I hope you got it right anyway!