FOMC Meeting Minutes will be reported figure at 02.00. Setup a trading position when the time is 01.58. Note the current High and Low of the current candle stick.
High = 1344.5
Low = 1341.5
Place stop buy at 1344.5 and stop sell at 1341.5. 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 =3 tick = -$30
Commission fee = -$8 (per 2 times position)
EP to TP = 3.4 tick = +$34
Risk/Reward Ratio = 0.8823
%ROI = 34/385 = 8.831%
I have $800 in port
Maximum allowable contract size = 800/385 =2.078 = 2 contract
I will gain $22 * 2 = $44
I will lose -$42 * 2 = -$84