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Trade on Wednesdays as that’s when the report comes out then. Expect some good price action with a strategy to go short. Given the current price levels and upward opportunity, I see reason for value investors who want to enter the market for the long term.
Don’t, unless you can afford to lose a lot of money.
Buy. Wait for it to go up. Sell. Have plenty of capital in your account.
- Since it’s a very volatile market, make sure you’re covered well. 10 times coverage is good for intraday trading.
- Don’t leave the screan.
- Becarefull of wedensdays, sometimes it’s tricky.
- Don’t ever go against the trend direction.
- Follow the news and all kinds of different reports on daily bases, sometimes manufacturing reports have more effect than Wedensday’s oil inventories reports.
- If you’re sure you’re trading the right direction, keep on adjusting your average the more it goes against you.
- Know the trading period you’re in (European, American, Asian)!!