God Stupid Newbie Program Traders, Read Fed Statement First

Don Bright · Jan 31, 2006

Quote from volente_00:

Don, were those trades done before the announcement ?

The orders were entered 2 minutes before the announcement. Executed at: 11:15:48, 11:16:07, and 11:16:13 (sells), buys were executed at: 11:18:35, 11:18:57, and 11:19:12 (to be exact).

Don

mahram · Jan 31, 2006

thats great for 4 minutes..I was planning todo something with deep in the money goog calls and puts....but I think its going to be a non event thing. Meaning maybe 10 up or down nothing to great.

Quote from Don Bright:

Every Fed meeting, we envelope layers on e's...today, sold at 1286.50, 1287., 1287.50....covered at 1284.5, 1284, and 1283.5

works like a charm.

lRemember, we don't care "what" was said, we just look for the short term volatility...this has a great success rate .... "coulda" made more, but not bad for 4 minutes work.

Don

mahram · Jan 31, 2006

lol or not google just halted

Quote from mahram:

thats great for 4 minutes..I was planning todo something with deep in the money goog calls and puts....but I think its going to be a non event thing. Meaning maybe 10 up or down nothing to great.

Don Bright · Jan 31, 2006

Quote from mahram:

thats great for 4 minutes..I was planning todo something with deep in the money goog calls and puts....but I think its going to be a non event thing. Meaning maybe 10 up or down nothing to great.

Hmmm? Trading down $64 right now....20%, LOL.

Don

Charlie Dow · Jan 31, 2006

Quote from coolweb:

Em,

Fed statements have little to do with the market action.

Watch price, Reading fed statements is like using a map to find your neighborhood grocery 2 blocks away when all you need to do is look ahead.

What a wonderfully brilliant statement!

TheDr. · Jan 31, 2006

Not quite sure I understand this Thread....Just curious?

What's a "Newbie Program Trader"?....

And are you saying the market should have bought, but because of these "newbie" programs traders it sold into the low's?..

Thx in advance for the reply.

Samson77 · Feb 3, 2006

Quote from Don Bright:

Every Fed meeting, we envelope layers on e's...today, sold at 1286.50, 1287., 1287.50....covered at 1284.5, 1284, and 1283.5

works like a charm.

lRemember, we don't care "what" was said, we just look for the short term volatility...this has a great success rate .... "coulda" made more, but not bad for 4 minutes work.

Don

Don I was curious

Have you tried this with any other reports?

Do you have an emergency contingency plan for when she just takes off and never looks back?

ktmexc20 · Feb 3, 2006

Quote from mahram:

what the, so many newbie program traders, please read the fed statement first before executing a trade. You miss one statement,and your whole thesis for buy when alan is gone trade thesis is gone.....man!!!! stupid newbies.

I get a kick out of reading sophmoric contributors critizing freshmen.

energytraderus · Feb 3, 2006

Mahram is right about some traders: after FOMC, I was wondering why June eurodollars didn't tank; since then, EDM6 and TYH6 have been going straight down. FOMC statement was clearly hawkish.

Don Bright · Feb 3, 2006

Quote from Samson77:

Don I was curious

Have you tried this with any other reports?

Do you have an emergency contingency plan for when she just takes off and never looks back?

We play with other reports, but to a lesser degree. And, I hate to say this, but I can't remember a Fed announcement that I was involved that just kept going one way (there may have been, but I don't recall).

Don