Today's FOMC - trading plays?

[SunTrader]

"........... The minutes of regularly scheduled meetings are released three weeks after the date of the policy decision..........."

Have to do the date math for future releases. Or check website calendars, in advance, like Forex Factory. They show Aug 17th next one.

https://www.federalreserve.gov/monetarypolicy/fomccalendars.htm

 

[easymon1]

Avoid it. Avoid anomaly events and catalysts. Way too much of a gamble.
Keep your trading business as usual, boring as usual, daily as usual, impotent as usual. Calm, not excited and crazy.

If you indeed do trade intraday charts, do you use setups and entry triggers to initiate trades?

 

[easymon1]

I'm gonna keep it simple and trade TQQQ/SQQQ

That TQQQ SOXL comparison favors SOXL heavily today when measured by fun length (run).

 

[KCalhoun]

Right.... best run was eod SQQQ.

It's smart to compare charts like you did.

 

[MacBookProHo]

If you indeed do trade intraday charts, do you use setups and entry triggers to initiate trades?

I do, indeed, trade daily/intraday. The S&P, more specifically options on that.
I'm not a scalper. I aim to understand the market, for the day, on a grander scale...and place that one trade....where I think and assume the major move of the day will happen.
I'm not always right, but close enough where I run a profitable operation.

I trade very discretionary, manually. I don't use any of the standard textbook support/resistance levels, indicators or anything like that. Trading is very part art, part science. Part left brain facts, with part right brain human and market emotions. Beyond that, I can't really get into detail about my trade, decision, process.

The devil is always in the detail, of course, with any successful endeavor. It's similar to someone giving another person the materials used for a hypersonic atom bomb that's able to deter radar....and expecting them to replicate itself completely. It's not likely to happen.

 

[easymon1]

Right.... best run was eod SQQQ.

It's smart to compare charts like you did.

That Was a nice one for that direction and the alternate to SOXL on my book.
but
For total move the SOXL seems to outperform vs TQQQ, but you lean toward TQQQ, kinda wondered why you go for TQQQQ over SOXL.

 

[kmgilroy89]

Buying when Powell starts to speak around 2:30 is usually a decent bet it seems.

 

[easymon1]

Avoid it. Avoid anomaly events and catalysts. Way too much of a gamble.
Keep your trading business as usual, boring as usual, daily as usual, impotent as usual. Calm, not excited and crazy.

I do, indeed, trade daily/intraday. The S&P, more specifically options on that.
I'm not a scalper. I aim to understand the market, for the day, on a grander scale...and place that one trade....where I think and assume the major move of the day will happen.
I'm not always right, but close enough where I run a profitable operation.

I trade very discretionary, manually. I don't use any of the standard textbook support/resistance levels, indicators or anything like that. Trading is very part art, part science. Part left brain facts, with part right brain human and market emotions. Beyond that, I can't really get into detail about my trade, decision, process.
The devil is always in the detail, of course, with any successful endeavor. It's similar to someone giving another person the materials used for an atom bomb....and expecting them to replicate itself completely. It's not likely to happen.

Well, hell, intraday fast chart trades don't appear on your radar anyway.
That's what KC stokes the furnace with.

One way to look at announcements is as a table setter for News Generated Setups...
https://www.elitetrader.com/et/threads/charts-for-no-reason.344272/page-25#post-5609680

 

[KCalhoun]

That Was a nice one for that direction and the alternate to SOXL on my book.
but
For total move the SOXL seems to outperform vs TQQQ, but you lean toward TQQQ, kinda wondered why you go for TQQQQ over SOXL.

Until the last couple weeks SOXL was best, but semis under recent sell pressure = SOXL lagged tqqq for upside volatility.

Hopefully that'll change, as I really like trading SOXL better than tqqq