Greetings All !

I sincerely invite you to join me tomorrow morning at 13:00 GMT/08:30 EST for the Coverage of the U.S. Non-Farm Payrolls Release…Live from the FXStreet Homepage!

Estimates coming my way are a Loss of 250-300K Jobs, with the underlying Unemployment Rate shooting up to around 6.5%.

Will we see these figures?  Who knows!…..but come by anyway for a visit!  

I will be giving away free pips to all who enjoy trading the most volatile and explosive Data Point we have in the Foreign Exchange world! 

OK…I know I know I really KNOW!…

 I can hear all of you now…

“CVJ! … Enough with your comedian act!  Keep your day job!”

In all seriousness, though…there are so many lessons about Trading that can be covered in this one Report every month…we can go on for days.

When we see this kind of heavy negative weight and sentiment globally, our NFP estimates should come as no surprise to anyone! … (unless, of course, I ran you over that weekend with the Golf Cart… 

Many newer Traders are deeply attracted to the speed and quickness of News and Data releases in general, and this is the King of Kings!

After a couple weeks of getting to know a bit about me and my Trading views in this Blog…I’m sure many are somewhat aware of my actions on NFP Day.

If not here it is:

I do nothing.

Nothing in terms of executing a position before, during, or after the Numbers and Data are released.

Now my caveats…

I truly and sincerely have nothing against this Day!

I do not speak ill of those who do trade it, or any other news for that matter!

I have simply developed my position of being an “Observer” out of my own trading experiences and growth.

I attempt to tailor my work as clearly and logically as possible, and I simply find too many variables with most News Trading views for MY  taste.

I simply prefer other ways and other types of criteria to work in the markets.

Have I seen it traded successfully?  Of course!

Month in and Month out.

Right here on FXstreet, we have Wayne McDonell’s NFP Webinar that I have viewed literally every month since it’s inception. There were about 28-30 of us in there for several months…and how it has grown!

Many other fine traders and personal Mentors of mine also work with News Events in one incarnation or another.

Some that come to mind are Ed Ponsi, Derek Frey, Jerry Furst, Tom Flora, Dustin Pass, Raghee Horner and so many others in literally all asset classes!

Here is the “built-in “Lesson for today that I garnished early on in working with and/or observing all of these Traders:

They do something very simple.

Very clear.

And…very effective.

They REACT to the release…and they do not anticipate it.

They have their Risk Tolerance and Management in place PRIOR to any data hitting the News wires.

They have a clear and logical view and PLAN ALREADY IN PLACE for the “sentiment” of the Data….and they FOLLOW it!

…And here is the Key…the Magic…the SECRET!….to working with Data Points….

The DATA fits THEIR criteria and analysis…NOT the other way around!

No FORCING a position here…No firing off a trade just for the sake of wanting to trade…

Interestingly enough…see how all of these Principles can and do apply to ANY type of Trading activity?

Beautiful…isn’t it!