STRATEGY NAME – FOMC & NFP Straddle Strategy
FOR USE ON – NADEX & FOREX
FILE PACK TO DOWNLOAD – CLICK HERE TO ACCESS
EXPERT ADVISOR FOR THIS STRATEGY? – YES – CLICK HERE TO ACCESS
RULES –
First Entry
- 15 min timeframe
- Load charts approximately 30 minutes before the release
- Look at the range of the previous 1-2 hours
- Approximately 10-15 minutes before the release of NFP or FOMC, place 2 pending orders 10 pips above and below the defined range
- Set TP levels of the approximate range size with a trail stop for maximum profit
- Set SL roughly 20 pips below range high and 20 pips above range low
- If first position reaches approximate range size TP, then cancel the other pending order
- If first position does not reach TP, then leave the other pending order open to buffer loss
Second Entry
- IF price spiked a minimum of 25 pips in one main direction from the release THEN,
- Approximately 2 hours after the release, enter a trade in the opposing direction in which price spiked
- TP should be initial price before news release
- SL at previous support or a long or resistance for a short
For Nadex Only Users:
- If you only trade Nadex, you can also use this strategy by entering two OTM trades approximately 10-15 minutes before the news release in opposite directions
- Risk – $10-15/contract
- TP at $10-30/contract
- Once the TP is hit on one side, cancel the opposing trade
These strategies work best on the major USD pairs
AUDUSD
EURUSD
GBPUSD
USDJPY
USDCAD
USDCHF