***Recorded for a missing opportunity***
Trading Signal
EP 1279.9
SL 1278.5
TP 1281.9
Description
FOMC Meeting Minutes will be reported figure at 01.00. Setup a trading position when the time is 00.58. Note the current High and Low of the current candle stick.
High = 1279.9
Low = 1278.5
Place stop buy at 1279.9 and stop sell at 1278.5. When the time has come , it will hit one of the other position (In this case it hits short position). Wait until 5 minute has passed, then close the position manually at market price.
Money Management
***Exemption***
For news impact trading, put all the money you got in the port and open maximum allowable contract size
1 contract size requires $385 ( 1 tick = 10$)
EP to SL = 1.4 tick = -$14
Commission fee = -$8 (per 2 times position)
EP to TP = 2 tick = +$20
Risk/Reward Ratio = 0.909
%ROI = 20/385 = 5.194%
Example
I have $800 in port
Maximum allowable contract size = 800/385 =2.078 = 2 contract
I will gain $20 * 2 = $40
I will lose -$22 * 2 = -$44