I really did not know which way the market is going to move but there was enough buzz in the markeplace to generate sufficient volatility to do my straddle.
At about 1:56am Singapore time I decided to place two straddle trades with the following details: –
EURUSD; Stop if Offered 1.0600, Spot at 1.0630, Stop if Bid 1.0660
USDJPY; Stop if Offered 114.23, Spot 114.53, Stop if Bid 114.83
All SLs at 30bps away.
I decided to square the USDJPY 3 minutes after the announcement at 113.70 and the EURUSD 5 minutes later at 1.0690.
Trading profit of the USDJPY was 0.53yen and EURUSD 30bps.
Not too bad, was hoping for a bigger move, then again, we should be thankful for good and safe trading profits.
The Panthenon Investment Group 