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 = 1318.7
Low = 1317.4
Place stop buy at 1318.7 and stop sell at 1317.4. 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 = 1.3 tick = -$13
Commission fee = -$8 (per 2 times position)
EP to TP = 6 tick = +$60
Risk/Reward Ratio = 2.857
%ROI = 60/385 = 15.58%
I have $800 in port
Maximum allowable contract size = 2800/385 =2.078 = 2 contract
I will gain $60 * 2 = $120
I will lose -$13 * 2 = -$26