Trading the NFP with Guaranteed Stop Loss, According to easyMarkets
LIMASSOL, Cyprus, Aug. 5, 2016 /PRNewswire/ -- Fundamental traders will be looking to this Friday's Non-Farm Payroll (NFP) release as an opportunity to take advantage of this market moving event.
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The NFP is part of a large number of employment data released at the same time and considered one of the most important announcements on the monthly financial calendar. The outcome may affect the US dollar which, being the counter currency to most forex trades, has the ability to impact the global markets.
In recent years it's been a major indicator for the Fed's position on raising of interest rates – another reason the dollar might increase in strength.
Last month's report showed 287,000 new jobs added for June, a 12-month high which surpassed expectations of 175,000 and outstripped the previous month's dismal showing at just 11,000. Analysts are expecting this month's release of July's data to be 190,000 new jobs.
If you've been watching the markets for long enough, you'll come to realise that analysts' expectations can be way off reality and that's when traders may make some profitable trades – assuming they are trading in the right direction. But if the professionals can get it wrong, then so can anyone. And what happens if a wrong decision is made and the trade is placed in the wrong direction to where the markets moved?
The answer to that question is whether a stop loss order is place on the trade. This is essentially a rate set that if the market goes below, the deal will be closed ensuring the trader doesn't lose more money than they are prepared to. Some people prefer to trade without stop loss and to closely monitor their open deals 24/7 but with some large market-moving events like the NFP where prices can jump in just seconds, they may choose to sit out of the action.
However, it is at times like this that opportunity arises, which means so does risk and managing that risk is one of the keys to trading successfully. The ability to mitigate risk with tools like stop loss orders means traders can take advantage of these major news events. easyMarkets guarantees trader's stop loss orders on both their proprietary web platform and their MT4 platform. Regardless of market volatility, this absolute guarantee gives traders the peace of mind knowing they won't blow their account balance if the markets move against them. While a few other brokers offer to guarantee their stop loss orders, they do so for a fee. easyMarkets offers this as a free tool as it seeks to offer the best risk management platform in the market.
It's #NFP Friday! Enter your guess on our Facebook page and if you're correct you may win $300* easyMarkets trading credit! Enter here and good luck! http://woobox.com/zb9k7i.
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Source: http://www.data360.org/dsg.aspx?Data_Set_Group_Id=340
Risk warning: Forward Rate Agreements, Options and CFDs (OTC Trading) are leveraged products that carry a substantial risk of loss up to your invested capital and may not be suitable for everyone. Please ensure that you understand fully the risks involved and do not invest money you cannot afford to lose. Our group of companies through its subsidiaries is licensed by the Cyprus Securities & Exchange Commission (Easy Forex Trading Ltd- CySEC, License Number 079/07), which has been passported in the European Union through the MiFID Directive and in Australia by ASIC (Easy Markets Pty Ltd -AFS license No. 246566).
Contact:
Charlotte Day
Email
+35725828899
SOURCE easyMarkets
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