Ahhh remember those days when the EURUSD could move 200 pips in a few minutes after the Non-farm payrolls announcement?
I do… lots of traders used the straddle technique, placing stop entry orders on both sides:
- Buy order a few pips above the market
- Sell order a few pips below the market
One of the orders would trigger and done for the day!
But they are gone now…
Now the market wildly reacts to the news announcement, it goes up, then down, it could trigger both orders and you end up with two losing positions. It’s no longer a feasible strategy.
That’s why I wanted to ask you:
Do you still trade the NFP report?
Let me know!
By the way… I’m holding my GBPAUD trade through the NFP report. I’ve got a good amount of pips on my favor.
Have a great weekend!