FOMC Member Powell Speaks will be reported figure at 20.05. Setup a trading position when the time is 20.00. Note the current High and Low of the current candle stick.
High = 1278.2
Low = 1275.8
Place stop buy at 1278.2 and stop sell at 1275.8. 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 =1.8 tick = -$18
Commission fee = -$8 (per 2 times position)
EP to TP = 2.4 tick = +$24
Risk/Reward Ratio = 0.923
%ROI = 24/385 = 8.831%
I have $800 in port
Maximum allowable contract size = 2800/385 =2.078 = 2 contract
I will gain $24 * 2 = $48
I will lose -$26 * 2 = -$52