-2% Loss on CAD News

Hi

I just had an unsuccessful scalp on the USD CAD Rate Statement/Overnight Rate news release.

My risk was set to 0.5% ($21) but have no clue why I got stopped out with a $85.42 loss (-2%).

This is the most volatile news trade I’ve ever done. Price spiked down before spiking up to trigger my buy order then down again stopping me out in less than a few seconds.

Is this institutional traders/bots at work stopping people out before things go their way?

My analysis is the stop (5 pips) was too tight for the volatile price.

If there is anybody out there able to give their analysis on what happened I would greatly appreciate the feedback.

See video of the trade here (skip to 4:20 for the news release):

Cheers