What is The NFP? Why do binary options traders wait for the first Friday of every month for the official release of the nonfarm payroll NFP data which is published by the Bureau of Labor Statistics? Generally speaking most traders will close out any positions they can in order to avoid the slippage, and this is a cyclical trading pattern that will repeat itself every month.

How Can I Leverage this to Make Money? Technically speaking if you trade before the NFP report comes out you can pretty much bet you are entering the biggest crap shoot in the neighborhood. The way to leverage this information is simply by waiting and not executing any trades until the first trading session after the report has been made public subsides and the trading volume returns to normal.

The February report indicated a positive growth rate and transition towards a strong and sustainable economy with employers that are hiring more personnel and paying out more salaries, this despite deepening concerns related to lack of momentum triggered by higher taxation and more cuts on government spending.

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The Feds Fund Rate FDFD: This is the interest rate at which banks or lending authorities big insurance companies for example lend money to each other. The higher the rate the less elastic the economy gets since there is less borrowing and funding of projects and initiatives taking place. This report documents seasonally adjusted claims based on unemployment data. The more claims the higher the unemployment is and in turn this leads to less money being spent by consumers.

If you really want to make money trading binary options you need to wait for this report and take call or put positions based on the outcome and conclusions of this report.

How Does the NFP Report Influence Forex Trading?

Well, as mentioned previously the report acts as a type of barometer that measures one very important economic indicator, namely payrolls or salaries. The more the better and when the report shows less salaries than you have a possible indicator of a recession. Alternate between the 5 and 15 minutes charts when you run analytics before you enter positions after the NFP report has been made public.

Change from candlesticks to bollinger bands in order to get a different perspective of the moving averages. Wait for a few consistent formations to take place before starting to execute trades.

The formations will flush out the traps and help you avoid a whipsaw scenario. Make sure to have stops in place and have a reversal strategy in place if you start losing trades. Your email address will not be published.

How to Trade the NFP (Nonfarm Payroll)

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How To Trade The Non Farm Payroll Release

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