Hypothetical UK Election Trade ...Election results come in...
(for which party will be in government). which results in a rise or fall in GBP
due to it's significance (in this instance it was seen as a good result and GBP rose).
-We know there is going to be volatility, so we can profit regardless of whether the
price goes up or down as when the price reaches certain points (A if price rises and
B if price falls) it will trigger a trade which will cancel the other one
-Can be executed on many pairs/ stocks if large results are due.
-Eliminates bias with OCO order.
--(DISCLAIMER) Set TP and Trigger point on major support resistance,
you don't want to trigger then go the opposite direction!!
Straddle Trades can be good for profiting regardless on where the price goes (in times of high volatility) and you could have made some good profits here, this could be replicated for trades such as EUR/GBP, Non farm payroll, US Elections etc... and are also known as OCO (One Cancels the Other) orders
