Wednesday, January 28, 2009

Trades for 1-28-09

Today almost sucked, and I was reminded that I don’t like to trade fed rate decision days. After my trade this morning I more or less just took the rest of the day off (surfed the net).

I happily took the breakeven in SDS due to the fact that the market was going flat, and had a good chance of heading back up. The reason fed days suck for me is because the market tends to go flat (as you can see in the chart below) until the decision is announced, and it drives me insane! When things are flat/in a range like that I spend the whole time 2nd guessing myself.

Why I don’t like fed days:

The total figure for “Discretionary trading” does not include my paper-trades.

Totals for the day
Discretionary trading: (+.01%) (+$1.44)
All times on the charts are Mountain Standard Time.

SDS – Long (+.01%) (+$1.44) My only real trade for the day Almost was reminded the hard way that I don't like to trade on fed rate decision days

No video today, went back to working on it.

Gapers: (-.66%) paper-trading

AVY – Long (-.66%)

10k strategy: (0%) paper-trading
All times on the charts are Eastern Standard Time.

No trades


Anonymous said...

My personal trading on fed days is this: Pre-announcement, short resistance and long support. Post-announcement, be ready for a breakout. Its simple really, people are waiting for the news to have a reason for price to move and in which direction. I was fortunate enough to make 6.21% yesterday because of that philosophy.

StockHunter said...

Sounds like a good idea, I might try that next time. And congrats on such a great day!

Anonymous said...

thanks, i try my best to put the most basic principles in the front of my mind while trading.