By Darrell Martin
Friday, June 5, 2015 at 8:30 AM ET, the US Unemployment Rate and Non-Farm Employment Change are reported usually moving quite a few markets giving traders a number of trade opportunities.
The Unemployment Rate is just that, the jobless rate expressed as a percentage of total work force out of work and seeking employment from the previous month.
The Non-Farm Payroll is a number that tells the change in number of employed people during the previous month, excluding the farming industry, hence the use of the term Non-Farm. Both are indicators for the economy and influence monetary policy makers.
Six Markets To Trade On For These Events The following markets can be traded using Nadex Spreads setting up Iron Condor Strategies: AUD/USD EUR/USD GBP/USD USD/CAD USD/CHF USD/JPY
Apex Investing has a news department which recommends trade setups based on analysis of market reaction on past reports from the last 24 months and minimum profit goals based on the last 12 months.
To set up an Iron Condor, you want to buy an upper spread and sell a lower spread. The floor of the upper spread and the ceiling of the lower spread should meet where the then current underlying market is trading.
Below is a chart showing the profit potential goal for your Iron Condor on each market. For example, to set up an Iron Condor using Nadex AUD/USD Spreads, you would buy the lower Nadex AUD/USD Spread for around $25 - $30 or more, and sell the upper Nadex AUD/USD Spread for around $25 - $30 or more.
You can enter your trades as early as 7:00 AM ET for 3:00 PM ET expirations. Most of the movement in the markets has been found to happen in the first 15 minutes after the reports are released at 8:30 AM ET.
These reports have been found to move the markets, but then the markets tend to also pull back, hence the recommendation for Iron Condor setups. The closer the market pulls back to the center of your Iron Condor setup, the higher your profit.
To learn more about trading Nadex for news events, go to www.apexinvesting.com.
