Forex Trading Signals Review

10-02-2015 +200 Pips  Non Farm Payroll (NFP)

We had a terrific last week, as our Forex Trading Room account climbed 1.7%!  This was no accident or luck - the amount of hours that I invested in my chart work was about double the average work week in the U.S. at about 75 hours. By the time the NFP rolled around, I had conviction in my trade decisions and my plan was laid out. A good strategy is one thing, however, in Forex trading we must also understand a proper execution of the strategy is important. I find when I do my research to try and understand the possible next moves of the markets, I only feel comfortable double and triple checking my work. Once my chart work is laid out and I have made a decision, I then develop my execution strategy. Once my execution strategy is in place, only then will I consider sending a Forex Trading Signal.

When To Pull The Trigger?

Knowing when to take a trade, is just as important as knowing when not to trade. The NFP date of 10-02-2015, was clearly an opportunity to gain some pips. I was willing to risk a certain amount of money in the event my trade did not go according to my plan. My fundamental analysis, as well as my technical analysis, all pointed to the fact that we may have a lower than expected NFP number on
10-02-2015. My plan was simple. Wait until the last possible moment to execute a market trade execution in the direction towards dollar weakness. The day before, I began my USD trades starting with some AUD/USD and NZD/USD longs. I sent out a Forex Trading Signal explaining that I was bearish the USD going into NFP. I was, therefore, starting some trades. On Thursday night in Asian session, I took some longs on the AUD and I thought their retail sales numbers would come in better than expected. I was correct, as the market was relieved to see the .04% pickup, down from the previous month's negative number. I was also impressed by the increase in the NZD commodity index, so I decided to hold my trades.  The following day at 8:27AM EST, I placed my trades. Long EUR/USD, Long GBP/USD and short USD/JPY.  When the news came out, I was quickly out of my trades in a matter of seconds as the market was disturbed by the NFP numbers.

NFP Final Outcome / Our Forex Trading Signals

The numbers came in at 142,000, expected was 203,000. You can see this was indeed a low number and the USD fell sharply. In all, I gained over 200 pips with the trading room and we took a nice early exit to enjoy the wonderful week.

All of my analysis is detailed in our members section. The Forex Trading Signals are often emailed with explanations of why I take my trades. If you are interested in joining our Forex Trading Room, you will gain many benefits. I have made a video on Non Farm Payroll trading below for non members. Hope you enjoy!