"Take Risks: If you win, you will be happy; if you lose, you will be wise. Nothing ventured, nothing gained."

Sunday, January 10, 2010

8 Jan - Non-Farm Payroll

I wasn't planning to trade on the NFP on Friday night, becuz i had dinner with my family and expected myself to be home late, my weekly target of 50 pips has been achieved. but i came home an hour before the news release and went through some news data and several blogs. Seeni has posted NFP analysis on the news release, and i was happy to see his updates again.

According to the bearish news of NFP release, -85K and 10% unemployment rate, price indeed spiked up. between the 30 minutes, there was a 118 pips long candle. with this kind of news + reaction, was tempting to get in, and i did. i was long, but i never even took the meat of the candlestick. recalling my last month's NFP trading experience, this time i set my s/l & t-p ready before execution to prevent slippage when closing position. once again, a very wide candle, i only rode a minute with a +12 pips.


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