Limiting risk while trading Bank of Canada Rate announcement is crucial because the market can go against you and it is quite volatile. For example, the Bank of Canada Rate announcement has created over a 100 pip move (measured from high to low in the 15 minute period immediately after the announcement) during the last three or four announcements.
Limiting Risk While Trading Bank of Canada Rate Announcement
In this video, Gail Mercer, founder of TradersHelpDesk, shows you how you can limit your risk using binary options immediately prior to the rate announcement. Gail also advises selecting a risk that you can afford to lose because sometimes you will lose — it is part of trading. In this example, Gail enters a binary option immediately prior to the Rate Announcement (four minutes prior).
In addition to Gail’s books on Nadex Binary Options, TradersHelpDesk also offers individual indicators for Multicharts, TradeStation and NinjaTrader, binary signals, and special trading packages including the Diamond Package, which includes ten hours of personal mentoring with Gail.