Entry NFP with Pending Order

NFP (Non-farm payroll) is the main economic indicator for the United States economy. This data represents the number of additions to the workforce, excluding agricultural employees, government employees, private domestic workers and employees of non-profit organizations. Among traders, NFP is also often referred to simply as payroll. Although more often referred to as NFP.

The release of NFP data generally causes big moves in the forex market. Payroll data is usually released on the first Friday of each month at 8:30 a.m. ET. Here we explain the role of the NFP in the economy and how to apply this data to a forex trading strategy.

Trading On NFP Data Release: Important Tips

Here are some tips to keep in mind when using non-farm payroll data to initiate forex trader transactions:

1. NFP data is released on the first Friday of each month.

2. The release of NFP data is accompanied by increased volatility and widening spreads.

3. Currency pairs that are not linked to the US Dollar may also experience increased volatility and widening of the spread.

4. Trading on NFP data releases can be dangerous due to increased volatility and possible widening of the spread. To overcome this, and to avoid forcibly closing traders' positions, it is highly recommended to use appropriate leverage, or no leverage at all.


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