Weekly Settings – Week of 06/28/21 – NFP Week
NFP instructions for MANUAL trading.
1) NFP starts at 8:30am est.
2) wait 3 seconds or so after it starts and look at what direction the trade is moving (up or down).
3) Immediately place a trade at a lot size of .1 per $1000 (more if you are really behind on a challenge)
4) Drag the SL line to .5% of your account … it doesn’t have to be exact but DO IT QUICKLY.
5) After the trade is in profit by at least 5 pips (hopefully), move the sl to BE and let it go.
6) Either set a trailing sl by right clicking the trade entry dotted line and selecting tailing stop and set a trail of at least 80 points OR just close the trade manually at x$ profit. The profit amount is based on your risk tolerance… hold longer if you want more risk or just close out fast to secure profits.
NFP instructions for SPIKE NFP.
1) Download Spike NFP from customer portal and place in your MT5 platform
2) Make sure Algo Trading button is off on the platform and drag Spike onto a 10 min UJ chart (enter serial #)
3) Do the same for the EU and GU charts if you want to trade multiple pairs (remember, there is a .5% risk per pair that you run). REMEBER TO CHANGE THE MAGIC # FOR EACH CHART THAT YOU OPEN (this is in the settings).
4) Turn on the Algo Trading button 15 – 30 seconds or so before the NFP start time.
5) Keep your fingers crossed