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[Winglys]

I really curious about this. When I try to do some research on this, I just get a lot of explaination that I don't understand

Any expert here can make a simple explaination to me? or just tell me some web site to know more about this.

Thank you

[russeller]

The non-farm payroll figures is one of the few really tangible measures of how the economy is doing. It's a measure of the
demand for goods and services. If the report is good, the dollar will immediately go bullish, if the report is bad the dollar will immediately go bearish. Never fails. This report comes out usually on the last friday of the month. Place entry orders above and below the market and sit back and watch. It's one of the few times that even a rank amature can make a few bucks.

[psperos]

Originally posted by Winglys
I really curious about this. When I try to do some research on this, I just get a lot of explaination that I don't understand

Any expert here can make a simple explaination to me? or just tell me some web site to know more about this.

Thank you

If more jobs are created, more tax money is comming in, more people are buying goods and services therfore even more tax profit, consumer spending increases.. etc etc etc... Job creation has a virual significance. Mass wealth also leads to inflation thus the higer chance of rates moving higher. The oppisite happens if we are losing jobs.

Jobs are the backbone of how our economy/society runs. This is why it's so closely watched.

[jam41510]

At what time does this report come out and when would be a good time to place orders? The market closes at 2:00PM Friday on my Coast. Can somebody be more specific?

This information is crucial for me. It's been a long week.

[James]

Originally posted by russeller
The non-farm payroll figures is one of the few really tangible measures of how the economy is doing. It's a measure of the
demand for goods and services. If the report is good, the dollar will immediately go bullish, if the report is bad the dollar will immediately go bearish. Never fails. This report comes out usually on the last friday of the month. Place entry orders above and below the market and sit back and watch. It's one of the few times that even a rank amature can make a few bucks.

With all due respect, your statements are not completely accurate. The reaction to NFP does sometimes surprise, and I can think of several occasions when the market reaction seemed to contradict the numbers.

Nevertheless, straddling the range before the numbers should catch a profitable move, whichever way it goes....

...Or maybe not. Many traders have lost on both sides by dramatic whipsaws, which take in both sides of the order and their stops.

Not to mention the fact that market makers have stopped guaranteeing orders during the often violent moves during NFP time, which could lead to further loss due to large slippage.

NFP a time and place for rank amateurs? I think not.

[bulldogFXR]

NFP is honestly best left alone by everyone (IMHO); the down side risk in the market at those times is too high, unless you have a well funded account and are only risking a fraction of a percent at 1 or 2 times ATR.

[jasperforex]

Use options and you'll get any move that happens. No problems with stops slippage or swings. I say this everytime the nfp come around, hope people pay attention this time
This time around some special factors mean that any result will see a big reaction happen, even if it's what people are supposedly expecting. And with the bank holiday on monday people will want to be done and dusted not long after the options cut at 10am eastern.

[666]

Originally posted by russeller
Place entry orders above and below the market and sit back and watch. It's one of the few times that even a rank amature can make a few bucks.

This is good method only when you play up to 0,1 mln size.

[jam41510]

How can you have Options in spot currency trading? Isn't the only way to do this is to cover your positions? I just want to know at what time the market report comes out PST zone.

[James]

Originally posted by jasperforex
Use options and you'll get any move that happens. No problems with stops slippage or swings. I say this everytime the nfp come around, hope people pay attention this time

Good idea. I am paying attention. Could you give an example of the type of options you could use, and who you use to purchase them. Unfortunately, I am very inexperienced in the use of options, being only a spot trader. But I have long meant to research this aspect of trading to offset risk in spot forex. I think many would be in the same boat, yet won't admit it.

[Winglys]

Firstly thank you for everybody that gives a piece of your mind

You guys are really an expert , now I start to get a general idea on jobless claim and Nonfarm payrolls.

Just now I came across a word "options", what I know is stock market does have this options, but I don't know forex also have such thing. I would like to know more about it

[Octavian]

Jasperforex,

With all due respect,trading options is not that simple.

Jam41510

James

Winglys

1. Options exist for almost every financial instrument.Forex too.

Some forex brokers offer forex options.For example FXCM,with one account you can trade in
_ Traditional Trading Platform (trade currency)
_ Fixed Rate Options Trading.

Thei offer 5 differit options tipe to trade.See details in their
website.

2.Trading the news is a hard work.Some info at

www.fidweek.econodey.com/why Investors Care.

Take care,

Octavian.

[PittsburghFX]

Originally posted by jam41510
How can you have Options in spot currency trading? Isn't the only way to do this is to cover your positions? I just want to know at what time the market report comes out PST zone.

This is why I trade using futures options. So it is cheaper than Spot FX options and also you have the ability to exercise your options thus locking in your max risk to your account thats what I do. It helps reduce your risk because options are the same thing as insurance.

[olivier]

And with the bank holiday on monday people will want to be done and dusted not long after the options cut at 10am eastern

Is there a bank holiday in the uk on monday?

[James]

Ok well, I am always one to leap into things. I have bought the following spot FX options from FXCM (horrible online options platform BTW)

1000 USD Digital barrier on EUR 1.2334. Premium $460.
1000 USD Digital barrier on Cable 1.8000. Premium $132
1000 USD one touch on EUR 1.2500. Premium $188
1000 USD one touch on EUR 1.2100. Premium $177

The premiums for the last three options are quite low and a good RR in a post-NFP move. Hopefully one or two will cash in.

I am going to start a new thred for Options related discussions, where we can share our strategies for the day/week etc.