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The first thing you should do as a trader is look for opportunity. The US Payrolls Report is the biggest economic release and fundamental event that regularly occurs every month. It provides a great trading opportunity...
...Rather than try to guess or predict the future, wait for the figures to come out and then place your trade. I like to have my TV turned to CNBC right in front of my computer screen with the Trading Platform and Charts up at the same time. I wait for the numbers and as soon as they are announced I enter the appropriate positions. With job growth in the US "exploding" there is little doubt that this is good news for the US and the Dollar...
...As you can see from the chart below, this report had a large impact on the EUR/USD. This was not attributed to just the fact that 274,000 new jobs were created in the US but that the EXPECTATIONS were for only 170,000. Had the expectations been for 370,000 the same 274,000 number likely would have seen the US Dollar fall and the EUR/USD soar. However, WE STILL COULD HAVE MADE MONEY. We simply would have clicked the "Buy" button instead of the "Sell" button. This is why we wait until AFTER the release to enter our position, there is no way to predict ahead of time which way it will go...
A 34.2% NET RETURN IN 13 MINUTES!!!
HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED BY ANY PARTICULAR TRADING PROGRAM.
ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION, HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE ABILITY TO WITHSTAND LOSSES OR TO ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS.
