aud's a tricky one to pick, page-5

Hi Serpeant,

I was surprised by the strength of the move and just how quickly it all played out. But as paulbooma said, trade what you see happening, not what you think might happen, and your trading will improve no end. Speaking from experience there.

Today will be a good example. I don't expect the RBA to change rates, but if they do, I will have my limit orders either side of spot price to capture a move either way.

You dont need to know which way it will go - if we knew that, we'd all be rich.

These interest rate decisions are good in that they don't whipsaw around as much as say NFP or other news in the Europe/USA sessions. Less liquidity at the moment means if the RBA changes rates today, you'll see a nice big candle going perhaps a whole cent in a minute. And it won't make a false move beforehand (at least I haven't seen it happen recently).

Of course, that's wishful thinking, rates on hold for at least a few months I would expect.