Quick question on how others approach NFP ahead of time
I'm still figuring out my pre-NFP routine. Do most of you typically scale back position sizes significantly or just make sure your stops are extra tight?
I'm still figuring out my pre-NFP routine. Do most of you typically scale back position sizes significantly or just make sure your stops are extra tight?
I've tried both approaches, and for me, scaling back position sizes has been less stressful than trying to manage extra tight stops during the volatility. It really depends on your strategy and risk tolerance.
I generally scale back significantly or just sit on the sidelines for NFP. The volatility can be so unpredictable, and those wild swings often blow past even tight stops.
For NFP, I usually close out most of my positions an hour or so beforehand, unless they're long-term holds. The volatility can just be too unpredictable for shorter-term trades.
For NFP, I usually close out most positions that aren't long-term holds. The volatility isn't worth the risk unless you're specifically trading the news, which is a different beast entirely.
For NFP, I usually close out most of my positions an hour or so beforehand, unless they're long-term holds. The volatility can just be too unpredictable for shorter-term trades, even with tight stops.
I tend to scale back, especially on anything that could get volatile. Tighter stops are good, but sometimes the gap or initial spike just blows right through them anyway.
I tend to scale back quite a bit, especially on anything that could be whipsawed easily. Tight stops are good, but sometimes the volatility just blows right through them before you can react.