Today we had two interesting reports from the US - the Non-farm payroll and ISM Manufacturing. We all know that NFP cause a lot of volatility and whipsaws (see chart). Today EUR/USD dropped to 1.3407 then shot up to 1.3459 - huge whipsaw...
Today we had the most watched release in the forex world - the Non Farm Payroll. Instead of straddling or trying to get in just after 8:30 I decided to wait for the retracement and get in at the right moment. (see chart). From my experience...
I have found a strategy that is based on trading during the volatile period after major news releases - Breakout Trading Strategy.
Has anyone tried something like that ? Or there is too much risk involved, since you have huge price swings...
Every trader who is just starting to trade forex should read
Common Forex Mistakes article. It explains some basic misconceptions that almost any new forex trader has about the FX market and how to avoid them.