I usually am not even at my desk on the afternoon of NFP day. I see all the Financial media and Twitter-sphere working themselves into a frenzy over the NFP number and quite frankly I can’t be arsed with it! I’m not a massive fan of trading NFP – certainly not putting orders in front of it hoping to straddle the range. However today I was sat at my desk working and decided to take quick trades based on price action and from my Wallachie Fan playbook.
There was one loss on EURUSD for +7 pips and one win on GBPJPY for +12 leaving me with a total of +5 pips for my efforts. Now if you were trading at £1000 a pip then its a good use of your time. If you were trading at £1 a pip then to be honest you might as well go and get a paper-round!
Anyway my overall advice is be very careful trading around NFP. At the moment there’s more fun to be had the day before when we have Super Mario talking. That tends to provide more opportunity.