I don’ t trade the news, so I got out to day a couple of minutes before the ECB rate announcement. Today has proven me again that trading the news is not something for me.
What a majestic move on EURUSD! You can only dream to capture it in full (actually I can’ t even get it on my screen in the scale I normally use).
But why am I posting, well: New traders, if you think about trading the news -> see if you expected this U-turn and if your risk management is up for it to withstand such force.
Spread widening complainers -> Please understand that with such volatility it should be understood that the spread will widen. The moment you close your trade the quote you closed it on is already gone and perhaps 20 pips away. That is what you get for swimming at sea during a tornado, it is bumpy and you will feel sick. If you don’ t like it when the spread widens during major news events -> don’ t trade the news.
Thank you, please continue with what you were doing…