The secrets of trading Crude Oil Inventory reports, or any other high volatility report, is to limit risk. Anything can happen — price can go against you, price can go in your direction and then drastically change course, or, like today, the market may not move at all.
Secrets of Trading Crude Oil Inventory Reports
In this webinar, Gail Mercer, founder of TradersHelpDesk, discusses the average movement expected on Crude after the report, the Crude/CAD correlation and how to trade both Nadex Spreads and Nadex Binary Options. In this educational video, Gail shows you how you can stagger your binaries and spreads, how to have non-directional trades with very small risk, and answers your questions on taking profits when trading binary options.
Plus, Gail shows you how to trade the USDCAD based off the direction of Crude (another one of the secrets of trading Crude Oil Inventory reports) , since there is a negative correlation and when not to trade the correlation (like during the Bank of Canada Rate Announcement). And, just like you can stagger trades using a combo of binary options and spreads, you can do the same with the USDCAD binary options and spreads.
In other words, when using binary options and spreads to trade high volatility reports, there are multiple combinations using just binaries, just spreads or combining the two for trading directional or non-directional.