Fixed odds betting the S&P 500 cash

I am short 10.30 to 12.30 at 1389.This is purely a mechanical trade as statisticaly,with todays predicted pattern being a trending day(and today is bearish) 12.30 should be lower.Altough having said that i am concerned that we have already dropped a fair bit and i might get caught in chop or a reversal.
 
I have as i suspected lost the first bet but i am now long from 1388.6 into the close(bet placed around 12.12) and long from 12.40 to 2.30pm. (1391.4)
 
If you're keeping a journal the word 'unfortunately' isn't one you want to be using very often..but..unfortunately it was 3 trades 1 winner 2 losers.I was at breakeven,waiting for the bet on the close to give me a winning day.We needed to close at 1391 or above and at the close it was 1391.6. Unfortunately (you son of a bitch) the settlement after the close was 1390.94.The account is up 35% which isn't bad for one month but i am irritated tonight.Mind you, i am now at the age where just about anything and everything has the potential to irritate me.Ok,lets not go into a long list here,cos my list may well run over the amount of gigabytes available to ET.But let me put it this way,if i was rich i would take more pleasure right now in smashing a priceless antique rather than admiring it,and preferably smashing it before paying for it.The look on the dealers face would be worth every penny.(for christ sake get over yourself!)Ok,i'm cheering myself up now,lets just call it a butter side down day and leave it like that!(unfortunately)
 
Quote from ForexPro:

Have you ever straddled a volatile news release with this method?
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Can't say i have but i'm all ears-never straddled anything,well,maybe a few women.Do you mean going long into an announcement and short sometime after? if so i was considering doing that tomorrow.Recent patterns on fomc days has been a slow drift up a spike on the annoucement then a selloff
 
I am short at 1395.8 betting 11am will be higher than 12.30.I am thinking traders might lighten their positions at lunch time ahead of the FOMC and that R-1 on the pivots (1396.3) will hold.Also,1396.2 is a fib (+0.382 from prev cls)
 
I only just won my first bet today -the exit was 1395.2. I was convinced i had lost that one as a few minutes after i placed it we took off to 1399. I am now short from 3pm to 3.50pm,placing the bet before 2.30 (you can't place intraday bets after 2.30 unless its a bet on a future close)The price is 1391.4,a lot lower than i would have liked obviously.Hopefully we will tank tonight. I dont think this market can break 1400 until all the reports due are out and there is some sign of the credit crunch easing
 
2 trades 2 wins the account is up £45. The cycle turn that fell on the close of friday is looking more valid now with todays weak close.Either we stay in a range between 1383 and 1400/1410 or we go lower,thats how i am seeing it at the moment.
 
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