I was long FDAX during run up to FOMC today, scaled out before the announcement, then 1 minute chart started looking odd, got out of last lot for small gain. Shortly afterwards price went higher and a few moments later went down big time. Classic buy the rumour, sell the news scenario. Not that I traded based on expectations, I guess it helped.
TOTAL HONESTY: how much did you lose today?
- Thread starter increasenow
- Start date
Lost nothing Pee Wee Herman. Absolutely nothing.
Check out a P and V chart. That will give you a good idea if anyone traded the YM today.
Attached is an ES chart of the announcement.
what you see initially is a cascade of portection limit orders becoming market orders that are filled much lower than the protection as other traders are facing this surplus of converted orders.
There are several cascades as the day continues. Note the larger volume on the red bars.
to day was not a mess it was very very profitable in a very short period of time for those who, unlike you, have what is called a neutral bias. A neutral bias simply means the person has an open mind about making money. He recognizes that moey can be made at about all times by being on the right side of the market.
The FOMC announcement is a major opportunity each time it occurs as you can see. In your case, so is bad weather.
The chart is coutesy of cnms2 who annotated it for the purpose of making money.
Lost $8k.
And I bought the dip:
http://www.elitetrader.com/vb/showthread.php?s=&threadid=111678
If I had gone long before the Fed meeting, losses would be still higher.
Market may rebound somewhat tomorrow, so I'm still holding positions.
After that it might well go down a bit.
And I bought the dip:
http://www.elitetrader.com/vb/showthread.php?s=&threadid=111678
If I had gone long before the Fed meeting, losses would be still higher.
Market may rebound somewhat tomorrow, so I'm still holding positions.
After that it might well go down a bit.
Someone smarter than me posted that 1527 was resistance. With the run up we have had it looked like a disappointment was probable. Went short, waited until the end of the day. That simple. But it was not my target and the size of the move in my favor was pure luck.Quote from PARACLESE:
what was your volume today? that is one nice nice day.
Anyone who went long ahead of the announcement got what they deserved.
Panic selling brought the market down today after the initial rush.
Panic selling brought the market down today after the initial rush.
god those charts are messy.
isnt that jack stuff?