Wednesday, August 12, 2009
Trades for 08/12/2009 FOMC DAY
Today was a blow out for me -28Ticks ($350) pretty much giving back all of yesterday's decent gains. There isn't much to say about this mess today. I couldn't get on the right side of the market until 2pm when I got a decent short entry. Of course I got out too early and ended up getting sucked into another short which was a stop out. I should have been long at that point. But again, blew an entry. The book was so light at points, and the action so whippy I got headfaked into losing money all day.
I'm not even going to talk about the trades because I didn't have a decent winner until 3pm. A winner I should have let run for 4 points! You can see the entries on the chart. Go ahead check them out, you will be asking yourself "What the hell was he thinking??". I'm obviously in a bad mood. I made mistakes left and right today. Its tough to trade these FOMC days, they are best left to the pros, And by pros I mean those with 25+ years of experience!
Overall, I'm not feeling too bad about the losses, its not like I blew up the whole week. Now that I think about it, this is the first losing day I have had since I started the blog. So I'll come back tomorrow with a fresh outlook and a few lessons learned. Odds are about 100% I won't trade the next FOMC meeting! Thanks for reading guys. Congrats If you made $$ Today. See you all in the morning