Easily Place Your Trade When The Bank Of England Releases Three Reports

The Bank of England will be releasing three reports come Tuesday, September 29, 2015, at 4:30 AM ET. Few traders like to trade at 4:30 AM ET, however, for this event you can put a trade on the night before at 11:00 PM ET with an expiration of 7:00 AM ET. The trade setup calls for trading Nadex GBP/USD spreads. The three reports include Net Lending to Individuals, M4 Money Supply and Mortgage Approvals.

Spreads have a floor and a ceiling, and depending on the direction you choose when trading them, you can’t lose or profit past the floor or ceiling. This means you have defined capped risk. For this trade, your strategy needs two spreads. You’ll still follow a GBP/USD forex chart in order to see where the market is trading. To enter at 11:00 PM ET, you sell a spread above the market with its floor being where the market is trading at the time and you buy a spread below the market with its ceiling being where the market is trading at the time.

The Iron Condor Has Two Sides

Based on previous analysis, it was found that the market will react and move, but then tends to pull back. With this kind of movement having happened consistently from past reports, an Iron Condor strategy is a high probability setup to use to profit, which is exactly this setup. The profit potential you are looking for is $35 or more. That may not seem like much profit. If you want, you can trade more spreads, as long as there are an equal number of spreads on each side of your Iron Condor.

To quickly find two spreads that meet those parameters, you can use the spread scanner. You will need to either have or open a Nadex live or demo account. If you’ve never tried a trade like this, or are just learning Nadex, then be sure to start in demo. On the spread scanner find the Nadex GBP/USD spreads Monday evening at 11:00 PM ET, available with expiration at 7:00 AM ET.

Easily See Your Profit Potential Using The Spread Scanner

The actual contracts will be listed in the center under contract. The floor is the number on the left and the ceiling is the number on the right. If you are selling the spread, the total risk reward when entering at that time is listed to the far left in the red and green bar. If you are buying the spread, the total risk reward when entering at that time is listed to the far right in the red and green bar. For a $35 combined profit potential or more, you want to find two spreads where the green part of their reward bars are around $16 - $18. Make sure you find the right spreads, where the ceiling of the bought spread meets the floor of the sold spread and is where the market is trading at the time. An example of what the spread scanner looks like is shown below.

As stated earlier, the market usually reacts and then pulls back. If the market pulls back all the way to center between your spreads, you make max profit. For every pip away from the center of your spreads the market is at expiration, that is $1 less in profit. To access the spread scanner or learn more about Iron Condors or other strategies trading Nadex, futures, spot forex, or CFDs, go to www.apexinvesting.com.