Sterling Pound: 0 Newstrader EA: 3; UK Heading for Recession

Today saw the release of the all-important GDP data and the sterling pound market had been seen falling since the start of the Asian session prior to the news releases.

• U.K. GDP Shrinks, First Recession Since 1991 Looms
• Data confirm UK on brink of recession

We entered with the Newstrader EA program for the third time this week in the GBP/USD (cable) market, just minutes before the release of GDP data. It successfully produced another two winners with today's news settings, with the final results at +113 pips.

News event: GBP Prelim GDP
Short GBP/USD @ 1.5748 for +25 & 88 pips

My two cents: Forex markets have been wild and volatile lately. It's indeed scary to enter and trade these markets at time. But with a flexible and automated trading plan in place, my news trading program seems to find its "edge" to excel from time to time. I am happy that I could share it out here.