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 = 1165.1
Low = 1164.5
Place stop buy at 1165.1 and stop sell at 1164.5. 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.
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 = 0.6tick = -$6
Commission fee = -$8 (per 2 times position)
EP to TP = 5.2 tick = +$52
Risk/Reward Ratio = 3.714
%ROI = 52/385 = 13.50%
I have $800 in port
Maximum allowable contract size = 800/385 =2.078 = 2 contract
I will gain $52 * 2 = $110
I will lose -$14 * 2 = -$28