This is my third video series in Trading Non Farm Payroll, PMI, and FOMC
In “How to Trade the Non Farm Payroll and FOMC” Part 1 and 2, I demonstrated how a simple shift in your visual perception of the charts and technical analysis enables you to read the market and see how it now makes sense.
“Why is it that almost all Forex traders and traders of stocks and commodities consider that major economic news events cause chaos that often results in major losses? Why is it that traders tend to think that trading the news is a risky business and a big gamble?
The real reason is that they cannot see the obvious patterns and Elliott Wave cycles that are constantly being formed in the market especially on the longer time frames.
Your approach to trading the news will be totally different once you see how this works and once you have tested it many times and become aware that it works. When it’s time for the Non Farm payroll all the other traders will go to their computers watch the news, jump into a trade and immediately lose. But you will instead, go to your computer, watch the news maybe enter or wait and when you enter the trade will always turn out profitable.
There is something much more important than studying and analyzing data from leading indicators like the ISM PMI. It’s not the Forex Brokers or the banks that are causing people to lose. It’s their inability to see the clear visual clues that show when the market is making a turn that represents the end of a trend or the end of a correction on the medium time frame.
There are many Forex trading strategies for trading the news and most of them can be reduced to simple gambling techniques much like playing poker in a Las Vegas Casino.
This is really the only Forex trading strategy that makes sense and that shows you how to read the market and make winning trading decisions in a way that most traders including many professionals and hedge fund managers are not able to do.”