It was a strange week on both the news trading and swing trading fronts.
First lets look the news trades. The biggest surprise was the one I chose not to post and that is the NZD CPI q/q. The Kiwi trades are notoriously unpredictable with huge spreads and sporadic movement. When I’ve gone live on these, I almost always come out on the losing end even if it goes my way, so I just don’t do them any more. The deviation was -.2 on the CPI which is decent but not huge or uncommon. But it pushed 100 pips against the Kiwi in one minute. I didn’t trade this and I’m sure the spreads were huge but still … 100 pips?
Of the other news trades, the CAD CPI was the biggest mover even though it came out with a 0 deviation. The spike was 35 pips with a push to 50 in a few minutes before retracing.
The lone swing trade hung in there for a day or two but pushed against us and took us out. I was trading very small lot sizes due to the larger than normal stop loss and take profit, so the damage to me personally was minimal.
There are a couple swing trades setting up for next week but I’d like to see better prices before making the calls.
For next week the trades I will post are:
Tue 9:30 PM – AUD CPI q/q
Wed 10:00 AM – CAD Overnight Rate
Fri 8:30 AM – US Advance GDP q/q
That’s it for next week. Have a great weekend.