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Monday, October 5, 2015, at 11:30 PM ET, the Reserve Bank of Australia (RBA) will release the interest rate on overnight loans between financial intermediaries. This is significant to the market however; the RBA Rate Statement can actually overshadow it due to it being focused on the future. The release of the two reports can get the AUD/USD moving however, news events scheduled don’t necessarily always move the markets significantly without a pullback. It’s recommended to use a neutral strategy to trade the event, as it is unknown which way the market will react.
The Iron Condor strategy is a neutral strategy, which is great to use when the market moves and then tends to pull back. It can capture profit if the market moves in either direction and pulls back. For this strategy Nadex AUD/USD spreads are used. Buy a lower spread with its ceiling where the market is trading at the time, and sell an upper spread with its floor where the market is trading at the time. With this setup, the market should be right between or very close to center between your spreads. The profit potential you want is $30 or more. You can enter at 11:00 PM ET for 1:00 AM ET expiration.
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Find the Spreads Easily On the Spread Scanner
If you’re new or are not familiar with Nadex, it is a US based regulated exchange listing binaries and spreads for a variety of markets for trade. The benefit of trading spreads is you have capped risk; you can’t lose past the floor or the ceiling depending on the direction of your trade. To easily find your spreads to trade, you can pull up the spread scanner. With a click on a few intuitive filters and then glancing at the contracts and their risk reward, you can easily find the ones you’ll need to meet the above parameters. Below you can see an example of the spread scanner with the AUD/USD displayed.
Once the reports are released, the market tends to react and then pull back. For the Iron Condor strategy, this is actually ideal. Your max profit is when the market pulls back to center between your spreads. You can also profit if the market does not move. This is the beauty of the Iron Condor.
To access the spread scanner go to www.apexinvesting.com, a service provided by Darrell Martin. There you can learn more on how to trade Nadex, news events, futures and forex.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.