$110,000 Profit Trading UK Referendum

This trade on the UK referendum on 23rd-24th June 2016 shows how you can capitalise on rare trading events where there is abnormally high volatility and equally large profit potential.

Nick had been shorting the GBP for several trading sessions leading into the vote count due to his opinion that the GBP was extremely overbought, given that the risk of a “leave” vote was still very real. The market had foolishly bought GBP up to such a high degree that is was actually higher than prior to the announcement of the date which the referendum will be held. This mistake by the market provided excellent levels to sell GBP and the primary pairs to short were GBPJPY and GBPUSD due to the safe-haven appeal of those counter-currencies. By being short into the vote count Nick was able to bank over 4,100 pips across 5 entries on GBPJPY, GBPUSD and EURJPY. This equated to an 11% return by risking only 1% per trade with very wide stop-losses and netted over $110,000 profit on the day for this particular client account.

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