No matter what you trade. Whether you trade forex, stocks, options, commodities, bonds or whatever never ever ignore Non-Farm Payroll data also known as the NFP Report. NFP Report is released on the first Friday of each month at 8:30 AM EST and you better be ready for it if you don’t want to see your trade hit the stop loss. Watch the video below that explains what are Non Farm Payrolls!
Every month when this report is released by the US Department of Labor Bureau of Labor Statistics, it is keenly watched by the market participants. If more jobs were added during the previous month, this is a bullish signal for the market and USD rallies. If less jobs were added during the previous month, this is a bearish signal for USD and it drops hard. All markets that are correlated with the USD are affected by this important report. This report is also known as the NFP Report and it heavily affects the US Dollar, US stock market and the US Bond Market. Watch the video below that teaches 9 different ways you can trade his Non-Farm Payrolls Report!
Watch this video also that shows how to trade this Non Farm Payrolls Report if you are a forex trader. If you are a forex trader, you should download this MACD Divergence Trading System PDF and read it. Divergences are important leading signals that appear before the market makes a major move. Before the release of NFP Report, appearance of a divergence on the chart can be a buy/sell signal for you.
Now NFP Report is released once a month so you cannot make a living trading. But you can definitely make a living trading news. Trading NFP is part of news trading. Daily check the forex factory economic news calendar that gives you the daily schedule for the news releases for the day. The mechanics for trading these news releases is the same as trading Non Farm Payrolls.