Trading Nadex Spreads Into the News: Bank Of England Monetary Policy Committee Votes December 17, 2014

The Bank of England Monetary Policy Committee (MPC) meets every month to set the interest rate.

Each member of the committee votes, a decision is reached and then announced. This announcement then becomes news and something that you can trade.

On December 17, 2014, the MPC Asset Purchase Facility and Official Bank Rate Vote will release their reports at 4:30 AM ET. Depending on the number of members who vote for a rate hike, cut or their vote remains unchanged, it can make the difference between being bullish or bearish for the GBP.

This report is issued monthly and has not had any votes for rate cuts. Rate hike votes have remained the same with two for the last four months, while there have been seven who have remained unchanged since August.

To trade this news event, look for a Straddle on the GBP/USD using Nadex Spreads. Enter as early as 11:00 PM ET Tuesday, December 16, 2014. The expiration time you will want to use is 7:00 AM and the maximum risk is $40.

A Straddle is opposite of an Iron Condor. When you place a Straddle trade, you SELL the lower contract and BUY the upper contract. To put it more simply, you BUY a spread above the market and SELL a spread below the market. You will notice that above was mentioned how much to have for your maximum risk, instead of how much to have for your minimum profit.

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