Thursday, November 5, 2009

Wednesday Log - Take it and Run on Fed Day

Only trading the AM session on Fed day. Generally the morning session is the primary trade(s) before chop settles in as the market waits for the 1415 FOMC announcement.
Took a few scalp trades in the morning session.

Went predominately long with a couple shorts thrown into the mix with longs in 50's, short in 54's and taking a couple points each time. A couple trades did not work but had tight stops and small size once profits were bagged.

Took the rest of the afternoon off as FOMC can be too difficult to play with the high volatility. No methodology identified yet for these high emotional fluctuation periods so best to stay out. Take the profits you've made and wait to play again next day.

Trade Well !

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