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Hi, I am not trading tomorrow its NFP friday. I NEVER trade this. If you are not familiar with the term, NFP Non-Farm Payrolls) is the official U.S.A unemployment news.
This is forex at its craziest, most illogical, ridiculous worst. Price can "spike" 100 + pips in one direction, take you out & then sprint 100's in the other direction within seconds.
For an idea of a spike take a look at todays euro/usd & the chf/$ 15 minute charts. This was news related. NFP can be much worse. There are people who claim that it is tradeable, I think it is pure gambling. Some of my biggest losses have been due to NFP, solution: I don't do it.
I haven't time to update the blog today, but I will do so at the weekend. I made decent pips from another simple 200ema bounce on gbp/$ this morning. Same as most of my other trades this week.
I also intend (hope) to complete a few new articles. I have been asked by quite a few of you to explain risk/reward & money management in greater detail. So hopefully I will find the time.
Have a great weekend,
regards,
Marc
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