Trading, Not Gambling: In Tuesday live training, I cautioned about not trading the NZD through the news and boy was that good advice! The NZD dropped 80 pips in 5 minutes! To have traded it would have been gambling. Even if you had got lucky and shorted it there was always the danger a sudden wide spread would have taken you out.
I explained that even if the interest rate came out as expected there was still a chance of an over-reaction. The reason it happened? Future guidance from the RBNZ and it was the first time for a while that the decision had gone to a vote rather than rubber stamped.
As ever Marc Chandler explains it well in more detail here: RNNZ Delivers a Dovish Hike
Trading, Not Gambling
I explained Sunday and Tuesday that as I had already reached my monthly target I was only going to take A+ trades. Thus far I haven’t taken anything but the balance of my AUDCAD from last week is now + 200 pips I show in the video how I am managing that.
I have adjusted the entry slightly on the Eur/USD – see todays video update