S/R Emini Journal

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Quote from romik:




This is a quick summary, I can answer some questions this morning, as I will not be trading the FOMC today.
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You are a smart man. You can lose or gain a lot very fast on these days.

I do use a very similiar strategy as well. Except that I don't scale out.
 
Quote from 4re:

You are a smart man. You can lose or gain a lot very fast on these days.

I do use a very similiar strategy as well. Except that I don't scale out.
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Ya, I still have a chart of last FOMC day imprinted on my scull LOL. Scaling out in my experience is more advantageous to this strategy as one would be limiting risk better by offsetting the initial position loss with closing 1/2 position after 1 point gain. Of course you would still have negative equity on these 2 trades, if the price declines after 1 point gain and stop at entry due to commission/fees.
 
Did anybody get filled at the top at 1266.75? If not I hope ya'll at least got 1.5 points out of this one. I don't like that needle top candle that it formed on the 5 minute chart. I didn't trade it as I was on the way out the door as it hit. So I stuck around and watched it. I hope somebody caught at least most of it.

4re
 
OK, I gotta get out of here but I this is something I had to show first. Looks like we could have a bullish flag forming on the 5 minute chart. Let's see how it plays out.

4re
 

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I am back in time to see what happens at 1:15. Should be interesting. I have a sell stop set for 1262. I am going to wait and see if I get sucked into the market. If it doen't get me in then I won't trade it.
 
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