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Tag Archives: spot trade

Trade: Short GBPUSD

Who really knows what the non farm payroll number is going to be; could be stronger or weaker.

I did three spot trades; the first one was going LONG EURUSD, going SHORT GBPUSD, and then going SHORT USDJPY.  All three trades were placed on a stop if offered or bid.

In the case of the GBPUSD, I was hedging against a possible stronger non farm payroll number, so I SHORT GBPUSD stop if bid at 1.6100 when the spot was at 1.6131.

As we all know, when the weaker non farm payroll number came out at 148K versus expectations of 180K, the USD got clobbered and the GBPUSD when up to 1.6200.

Trade: Long EURUSD

I was betting on a poor showing of the non farm payroll and so placed a LONG EURUSD stop if offered at 1.3690 when spot was trading at 1.3675.

When the weaker non farm payroll number came out,  the spot shot passed my order and my trade was executed.  I then squared my spot position at 1.3734 for a 44 bps trading profit.