TraderInterviews.com: Hello everybody. Welcome to TraderInterviews.com. Thanks for joining us for another show this week. As usual, the idea of all of these interviews is to give you traders something to think about and maybe a strategy or two to add to your own trading arsenal. And each week, we talk to traders about their individual trading style and ask them how they approach the markets to find profitable opportunities every day. Out interviewee today is Wayne McDonell of FxBootcamp.com. We've spoken to Wayne in the past. He's got a new book coming out. So we're going to talk to him about some general Forex strategies, a little about the book, and then about him in general and his way of approaching the markets. So, Wayne, thanks very much for joining us on the show.
Wayne McDonell: Thanks a lot Tim. Glad to be here.
TraderInterviews.com: Well we'll link to your book and give the listeners the URL to buy it at the end of the interview here but I want to ask you too because we got this opportunity the night before the non-farm payroll comes out and by this time this interview comes out, it will be over. But I want to ask you, are you approaching this in any special way? How do you trade around these announcements?
Wayne McDonell: Well, I trade all economic news releases differently. Now, I look at the numbers fundamentally to develop a long-term bias and clearly, the United states economy is in shambles. And so, whether the number comes out, you know, 522,000 or 588,000 jobs lost, you know, the bottom line, it doesn't matter. It's so bad. Even good news is going news is going to be bad news on the long term but the way that I treat these events is to trade the emotional response to whatever the headline number really is. So I'm not making long-term investments tomorrow at 8:30 when NFP comes out. So what I'll do is I'll let the market react to the headline numbers. I'll watch,...
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