Using Nadex Spreads and Binaries to Trade GBP Construction PMI News Event

At 4:30 AM, ET, Thursday, October 2, GBP Construction PMI (Purchasing Managers Index) News is being released. This report is a level of a diffusion index derived from surveying purchasing managers in the manufacturing industry. Managers are asked to rate several business conditions including employment, production, new orders, prices, and supplier deliveries.

If this leading indicator of economic health shows a higher than expected reading, or is above 50.0, it indicates expansion; if below, then contraction is indicated. If the actual report is greater than expected that is good for the currency. The last two reports the actual numbers came in under what was forecast.

This event is an excellent opportunity to trade the GBP/USD with an Iron Condor strategy using Nadex Spreads. Based on evaluating past news releases, market move results, and frequent past trades of this report, it is suggested to buy a lower spread and sell an upper spread looking for a minimum possible take profit of $30. Possible spreads can be entered as early as 11:00 PM Wednesday, October 1st. An easy way to find an iron condor is to look for a straddle and then flip it. The market expiring in the middle of the iron condor will bring you the greatest profit.

You can also trade Nadex Binaries using a butterfly strategy, selling an upper binary and buying a lower binary also looking for $30 combined minimum profit potential. Be sure to set your take profits for your butterfly.

For more strategies on regularly scheduled news events using Nadex binaries and spreads, go to www.apexinvesting.com, a service provided by Darrell Martin. Apex Investing Institute offers free education and free access to the Nadex Binary and Spread Scanner Analyzers. Member traders are invited to trade in the rooms, take advantage of trade signal services, have key indicators and access the Apex Forum. The forum content is updated daily and includes over 8000 members. In a supportive learning community of seasoned as well as up and coming traders, traders of all levels learn how to trade Nadex binaries and spreads in depth, as well as futures, forex, stock and options, and gain an edge for successful trading overall.