It is foolish to have trades open during the Fed meeting... Don't predict!, react!

Quote from Steve Tvardek:

Have you seen how thin the DOM gets minutes before a major Fed announcement? And then how levels disappear in millisecs as prices whips around right after? Why anyone who daytrades would want to be in a position before that is beyond me, but maybe I am just a scared little rabbit :)
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True,

Usually, I'll put bids and offers out all over the place on the usual suspects... way out of the NBBO. I get hit sometimes for a quick snap... sometimes.
 
I guess I'm a fool but I always trade the announcement. I don't predict what the market will do, but I do have orders above and below the last pivot point. Some of my best trades have come on fed days.
 
the smart approach is to stay out before a major announcement, fed and even other economic reports, so its a matter how much you like your money.. its all subjective, but i will stay out. otherwise its gambling, i rather go to the casino for that , then again some traders love the thrill, then more power to those that can afford the risk involved.
 
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