Monday Log - FOMC This Week

Economic reports at 1000 kept me out of the market for the first hour. Missed the move up and waited for long set-up once pullback to PP occurred around 1100. Entered long in 41's and scalped a point on 1/2 position and closed trade prior to the retrace back to 47's. Result: +2.0

Missed the close/open set up first time thru as price slammed down to 26's. Waited for pullback to 32's. Scaled out in 31's and 30's before going flat as price rebound to 35's. Result: +3.0

Reading combo setups better and expanding the range albeit need to take a couple more trades without pressing. Over the weekend I reviewed my rules and working to tighten up my discipline and trade plan for each trade. Of late I've had a problem with trying to get too much on each trade. A review and update on my rules should help refocus my efforts.

Looking for 1-2 points on half of position should be mechanical and absolute. Been giving away too many profitable scalps as I try to squeeze for the extra tick or two. Not worth the irritation.

It's the beginning of the month, earnings begin to wind down and FOMC meets on Tuesday with macro results announced on Wednesday at 1415. I'll be out of the market that afternoon as I meet a fellow trader for our monthly "FOMC" lunch.

Trade Well !