Did you buy the euro on that ECB-inspired selloff? We did.
I sent out a Tweet right after the ECB announced their surprise rate cut and we bought down near the 1.0850 level.
Minutes later the market was up to 1.1100. Matt Franko made 220 pips in minutes.
We knew nothing about Trump (if that was even the reason), but rather, it was my trading methodology that got us into the trade. It's what I teach in my course and what I will be teaching in the upcoming, March 15-17 intensive online course.
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2 comments:
It is good this site exists. The news in the UK is just terrible:
http://www.theguardian.com/business/2016/mar/10/how-european-central-bank-ecb-trying-revive-eurozone
"The ECB wants to get money into the financial system by discouraging banks from holding on to deposits and instead lend out money as cheaply as possible to businesses and households.
The 19 countries in the eurozone have had a negative interest rate for deposits since June 2014. But this is the first time the ECB has set the rate at which it lends to banks to zero."
WTF? Incompetent reporting.
"Ultra-low interest rates create difficulties for commercial banks because it makes it harder for financial institutions to lend profitably. The ECB, though, is trying to mitigate the impact by allowing the rate at which banks borrow over the long term to drop into negative territory, too.
Analysts at the consultancy Capital Economics said: “There is no guarantee that its latest ‘bazooka’ will be any more effective than previous ones in securing the strong and sustained growth required to eliminate the threat of deflation in the currency union and allow the peripheral countries to tackle their debt problems. The ECB has belatedly delivered, but it can’t work miracles.”
And Michael Martins, an economist at the business lobby group the Institute of Directors, said the move could prove counterproductive. “Monetary policy is not enough to wake Europe from its slumber. The ECB has felt compelled to act because of the stubborn deflation stalking the continent, but without individual governments stepping up to the plate and implementing more structural reforms, the impact of a further loosening in monetary policy will be limited.”"
How will "structural reform" help?
As a former student I can say Mike's system works and that was proved today when I made 7% off this single trade. If you're waiting for something, get over it.
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