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Daily Archives: May 8th, 2015

5 May @ RBA Rate Decision; to cut or not to cut rates???

Majority of the street expected the RBA to cut rates the last time and it didn’t, this time around, it’s expecting RBA to cut rates by 0.25% to 2%.

I decided to put a spread trade: –

AUDUSD  –  Stop if Bid at 0-.7890, Spot at 0.7852, Stop if Offered at 0.7820. SLs at 0.7870 and 0.7830

As it turned out, the RBA did cut interest rates by 0.25% to 2%, but what was more surprising was the chopiness in the spot rate.

I was triggered on both trades and also stopped out on both trades for a trading loss of 44bps.  Aarrggghhhh!

Oh well, S _ _ _ happens………..hahahahahahahasha.

29 April @ Advance GDP

The talk about the US is all about economic growth, employment, consumption, so GDP will be a data that will be eagerly looked at and will potentially be volatile.

I decided to do my spread trade going into the announcement: –

 

GBPUSD  –  Stop if Bid at 1.5410, Spot at 1.5380, Stop if Offered at 1.5250. SL at 1.5380 for both trades

EURUSD  –  Stop if Bid at 1.1050, Spot at 1.1026, Stop if Offered at 1.0990.  SL at 1.1026 for both trades

 

The Advance GDP came out very badly into negative territory and the previous month was revised downwards from 2.6% to 2.2%.

The USD got killed, I wished more, but the market move sufficiently.

I squared the EURUSD at 1.1165 for a trading profit of 115 bps

I squared the GBPUSD at 1.5478 for a trading profit of 68bps.

Not bad for a Wednesday night, thank you United States of America.

24 April @ Durable Goods

Crazy Singapore night!

Believing that durable good will be a volatile data, I decided to put a bid and offer spread trade on both the GBP and EUR as follows: –

 

GBPUSD  –  Stop if Bid at 1.5150, Spot at 1.5125, Stop if Offered at 1.5100

EURUSD  –  Stop if Bid at 1.0850, Spot at 1.0830, Stop if Offered at 1.0810

 

Market turned out to be dead boring…………..hardly moved.

I squared the positions 45 mins later flat!