Browse > Home / Trade Update / Say No To NFP

Say No To NFP

June 6, 2008

Hello Friends,

Due to Non-Farm Payroll news later today  I don’t recommend opening any new positions. This is the only day that I don’t recommend trading. For the people who don’t know, NFP is one the biggest news in Forex market. It can move the market by 100-200 pips in matter of seconds and trading on this day is more like gambling. This news comes out every first Fri of the month.

Yesterday we saw pairs making moves both in trend and out of trend, which makes trading hard in such conditions. The pairs I was watching for potential trades yesterday would have resulted in a loss, hence I chose to stand out yesterday. Later today I’ll start the grueling 8 hrs “pair analysis”. I do this process once a month ( mostly on NFP day) to see what pair are most in sync with our indicators and if SL and TP needs to be adjusted. I’ll analyze 20+ pairs for all three types of signals, Oz Special, Daily and AES.

Please note that I’ll update my blog every day with useful information for everyone. I’ll also post past results and updates, you can use this information to back test and learn from it. You might already know that daily signals are now only provided exclusively to paid members, subscription to which is now closed. However if you wish to have your name put down for waiting list then send an email at admin@ozfx.com.au (More details here)

Cheers,
Oz

Written by OzFx · Filed Under Trade Update