A Simple System To Trade the NFP Report In The Forex Market!

The NFP report is released every first Friday of the month at 8.30am EST and depending on the pair you are trading will move the currency around 100 pips or more. Now many people try to jump into the market just as the report is released which is really not a smart way to trade the report. First the primary direction of the move can be a fake out just taking out stops before it shoots in the other direction. Second the liquidity in the market is gone and the spreads widen to almost 20 pips at times which make it impossible to make money at times. If you trade the report this way it is nothing more than gambling. A much better way to trade the report is to enter the market 15-20 minutes before the report, spreads and liquidity is still at normal levels and you can easily get filled for your position. Trade with the trend use 20-30 pip stops depending on the pair you are trading and place your order before the report, then sit back and watch the show. Around 50% - 60% of the time the report will be in favour of the current trend. Once your position is in profit by 30 pips move you stop to break even. Shoot for around 90 pip profit but always trail your stop behind as you don t want a nice big profit to disappear. This gives us a risk reward of 1-3 meaning we only have to be correct 25% of the time anything more is profits! Do You Want To Make Consistent Money Trading Forex? Dean Saunders has created the *Ultimate* FREE forex trading system that has helped 100 s of Forex Traders become profitable. Click Here and grab your FREE copy of Dean s amazing trading system!