How i am trading the ECb event tomorrow

Trading Systems
1

hello traders,

i would like to share with you how i am trading the ECB event tomorrow with the expected high volatility.

i have gone short as most expectations lean towards EURUSD going down.

so i placed a sell order at 1.1575 and stop loss at 1.1648 which is the high of the daily candle of 16.01.2014 (inside bar); if i was wrong i placed a buy stop order at 1.1648. so if the price moved against my sell order stop loss will save me and buy stop will give me some of the pips in the volatility.

let me hear your thoughts about that.

thank you

2

Trading this way is dangerous. The path to success is paved with repetition (I just made that up but it’s true LOL).

This sounds more like high stakes gambling. But, that’s me. Good luck getting filled at the price you set btw. :slight_smile:

3

I’m going to avoid it completely after last thursday

4

i didn’t gamble believe me :smiley:

all expectations point that ECB will announce QE more than 500B Eur which won’t violate any laws, SNB removed the floor under the Eur, Greece is about to elect a radical party that wants out of the euro zone.

technically, we have a 4 days inside bar with strong sell signals from different indicators.

sentiment is very bearish.

so theoretically the price should drop unless, Draghi drops a surprise tomorrow.

so i think i am not gambling, i took an educated guess.

what do you think? is there a better way to trade these events?

thank you