Music Man
Corporal
- Messages
- 91
Today I tried to trade the RBA rates decision. As in the NFP thread, I straddled, taking care not to allow my stops to execute prematurely. It's a good thing, too, because the market was convinced there would be a hike. I had to push up the buy stop price a few times to avoid buying pre-news. That would have been very bad indeed.
When the news did come, the price dropped almost instantly. Unlike the EURUSD play in NFP, this time the stop did not execute until the initial spike was done. Bummer. I still managed 10 pips or so, but it was not what I was looking for. Still, a win is a win, so there you go.
FWIW, Sean over on ForexLive.com called it. If I had gone short with him, it would have been much better. Unless he had been wrong.
MM
When the news did come, the price dropped almost instantly. Unlike the EURUSD play in NFP, this time the stop did not execute until the initial spike was done. Bummer. I still managed 10 pips or so, but it was not what I was looking for. Still, a win is a win, so there you go.
FWIW, Sean over on ForexLive.com called it. If I had gone short with him, it would have been much better. Unless he had been wrong.
MM