Every night whenever i open the chart, i make it a habit to go to Forexfactory.com. Because by the time i sit down and analyse, it is also the time when New York cross over London session. Forex factory provides economic data releases, something i should be wary of whenever i consider a position. is there important announcement coming up in a while? because depending on the type of data, it affects the price significantly, juz like the ass-kicking aussie interest rate.
but more often than not, instead of being wary of whats coming, for some reason i trade the news instead. ADP Non-Farm Employment Change, here are the data:
Session: New York, London Crossover
Duration: 24 minutes.
Fundamental: US ADP Non-Farm Employment Change.
(Previous: -84k, Forecast: -31k, Actual: -22k)
Strategy: Entry ten minutes before data release. Bullish data as employment change was better than forecast. Price reacted only ten minutes after the release.
Latest candle was the after the release. taken a short ride down at the opening price of the last candle. price is still going down as the point of writing. that was it for me, target for the day. +10 pips.
won't be trading for the next two days. having night class tomorrow, and a fren's birthday party the night after, maybe. which means to say i may be giving this month's NFP a miss. i realised that i have been keeping up with various trading blogs which i've followed, and found out that this traders community is pretty interesting. u got people from all over the globe, different opinions and perspective, some do blog about their personal life too, from there u get to noe them even better.
i hope this doesnt affect my actual social life outside lol, as RCM once said to me this:
something to remind myself about.
good tradings my frens. later.