LONG Gold (E-MICRO) Future Apirl 2017 (News Impact)
***Recorded for a missing opportunity***
Trading Signal
EP 1234.4
SL 1233.0
Description
FOMC Meeting Minutes will be reported figure at 01.30. Setup a trading position when the time is 01.58. Note the current High and Low of the current candle stick.
High = 1234.4
Low = 1233.0
Place stop buy at 1234.4 and stop sell at 1233.00 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 = 5.5 tick = +$55
Risk/Reward Ratio = 2.5
%ROI = 55/385 = 14.285%
Example
I have $800 in port
Maximum allowable contract size = 800/385 =2.078 = 2 contract
I will gain $55 * 2 = $110
I will lose -$22 * 2 = -$44