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When Powell speaks, even gold gets cold feet
In this issue of BullRush Insiders we discuss FOMC, NFP and more.
BullRush
October 08, 2024
MARKET NOTES
(aka “Why We Can’t Have Nice Things”)
Welcome to the ‘Trade The News’ Edition of BR Insiders, where we dive into the chaos of red-folder events—those market-shaking moments like FOMC meetings that make traders sweat! These events can send markets on wild rides, with interest rate decisions driving everything from forex to gold.
Friday’s NonFarm Payroll was a real barn burner. The expected number was 147k jobs created. This is what all of the expert economists had forecasted.
But what do they know? Like the weatherman they only ever need to be right 50% of the time to keep their jobs. This NFP was the other 50%, they couldn’t have been more wrong on their forecast as the actual number came in at 254k. This paired with positive revisions from prior months caused the markets to fly around.
Immediately after the figures were released GOLD fell by almost $20, while US stocks and indices skyrocketed. An hour after the event the S&P 500 was up 0.9% on the day.
As we look forward to October 9th all eyes will be on the Fed Meeting Minutes. With these massive figures from NFP it will be interesting to see if the Hawks at the Fed come out in full force. We shall wait and see. One thing is clear though, BullRush will be hosting our 2nd ‘Trade The News’ competition during the Fed Meeting minutes! Keep reading…
Biggest Wipeouts - TRADER HALL OF SHAME
We all make mistakes, some just more than others. Kings23 was the unlikely first person to get DQed from the NFP October trading competition. Kings23 thought it would be a great idea to short the USDCHF during NonFarm Payroll figures. Within a minute he was DQed from the competition and lost his chance at the prize pool and BullRush XP.
Come on Bro! What were you thinking? Learn some risk control!!
In all seriousness, we are all very excited to have concluded our first ever News Trading competition. While many brokers and prop firms forbid trading during the news, BullRush welcomes it during our trading competitions. So much so that we have designed trading competitions specifically around Red Folder news events.
NFP October was the first one and it went off with great success. The space was limited, capped at only 250 traders. Registration filled up in just a few hours for this inaugural competition. The competition started 5 minutes before the number was released so all traders could get their TPs and SLs placed, their Live Squawk enabled, and of course tune into BullRush Live to catch all the action.
Once the number was released everything popped off! We saw a wide range of asset classes being traded. Some focused on XAUUSD, some focused on the US indices, while others elected to trade FX pairs. As the dust settled we saw user Jozman at the top of the leaderboard with a massive 39.57% return. Jozman elected to focus on trading only the USDJPY pair, and caught some nice buy trades, which worked out well for him this time. But, it was certainly a big risk as he placed those trades 1 minute before the news. So, had the NFP number come out in the opposite direction he would have ended up like our friend King23!
Trade The News: FOMC Meeting Minutes
Ahhh…missed the NFP trading competition? FOMO no more!
The Fed is coming in hot with FOMC Meeting Minutes this Wednesday at 2pm ET and we are packing in the fantasy trading action with (another) 1-hr speed-trading competition.
Since the last ‘Trade The News’ filled out in just a few hours, we are letting our BullRush Insiders in first! Click the link here to register for the TTN: FOMC meeting minutes happening this Wed at 2pm ET.
MORE COMPETITIONS COMING YOUR WAY
That is the reason we exist, so let’s get to the competitions starting soon 👇🏻
 | Thanksgiving Trade Off For only $5 (or 500 promo creds) you can get into our turkey-trot for traders competition - the $3K Thanksgiving Trade-Off! Trade all month in Nov for a $3K prize feast. |
Crypto Maniac Weekend |  |
New Games, Same Market: BullRush Challenges Are Almost Here!
Exciting news, traders—challenges are coming soon to BullRush! Get ready to put your trading skills to the test in our upcoming Challenge Arena, where you can win instant cash prizes, or use your winnings to take on even bigger competitions.
Whether you’re looking to level up or just enjoy the thrill, the challenges will offer plenty of action. Keep an eye on your dashboard because it’s almost go-time!
Little sneak-peek:
and now for more fun:
Trading memes worth an extra minute of your scrolling time…
That’s it for the third edition of BullRush Insider! Like what you’re seeing? Share BR insiders for a chance to win free entries, promo credits and more.
Now, if you are ready to jump back into the action BullRush is calling your name. Your next big win could be one trade away!