AXIA Elite Trader Builds A Solid Day On Multiple Market Themes - Live Trading | Axia Futures

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In this video, Adam is going through the execution of our AXIA Elite Trader Demetris Mavrommatis on Thursday 23rd of April 2020.

This was a day that didn’t start very well for our Elite trader as he was caught short on a Gilt position early in the morning and took a decent loss. However, he managed to stay focused and turn around the day to build a very solid upday. He did this mainly by executing big positions on several news comments throughout the day.

The first one came from Bank of Japan sources, where they hinted that the BOJ was ready to conduct unlimited bond buying in order to boost the economy after the Coronavirus fallout. This put pressure on the yen and our elite trader managed to get on the move and capitalise on it.

After this, the German chancellor Merkel came on the wires urging the EU leaders to take a huge response to tackle the pandemic. The fact that Germany showed willingness to a big monetary response was taken as a positive by the markets and our elite trader managed to catch the risk-on move by selling the Bund and buying the Euro Stoxx.

After this, there was a news article from the Financial Times with a headline that Gilead’s Antiviral drug Remdesivir had flopped on Clinical trials. The market had big hopes that this therapeutic drug was going to slow the spread of the virus, so when the negative news hit the wires, the stock markets sold off aggressively. However, in the contents of the article, Gilead had commented that the results of the trials were inconclusive and thus not accurate. Our elite trader managed to first sell the S&P and capitalise on the knee-jerk reaction that was caused by the headline of the article, but he also managed to cut and reverse his position after he realised that the article had contradictory headlines.

Finally, about half an hour later, news from the EU summit started hitting the wires, indicating that EU leaders failed to reach an agreement on a stimulus package to tackle the coronavirus. Our elite trader took a big risk-off position by selling the Euro Stoxx and the EURUSD and buying the Bunds. Although the market was a bit slow to react, eventually the risk-off move happened and our trader managed to finish his day with a very solid P&L.

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