Posts Tagged fed
Today was Fed day and I had come home after the announcement. I'm always a little wary of what the Fed does to the market but I entered long at 131000 after stochastics had turned upwards with a target of 132000. This hit target in a matter of minutes for 40 prices!! Hoorah! I kept on thinking to take profit at 10 points and would obviously be kicking myself if I had.
The market has since gone up further, another 40+ prices and still moving..
So, 40 prices taken.. I managed to keep contro
March 18, 2008
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At 19.00 GMT, the FOMC made it's announcement.. I had no idea what they announced but the market didn't really do that much. I entered short when the market went below a previous support level at 135000.. unfortunately, it soon bounced back up and I had to nurse a 16 price loss! Ouch!
My trade wasn't a bad one, I had traded on break of the channel. Luck wasn't on my side this time.... as I write, the market has broken up above the upper trend channel. If I had bought this, I could have gr
February 20, 2008
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Our trading mentor informed us not to trade until his say so after Bernanke said his thing. Bernanke took over from Alan Greenspan and is currently the Chairman of the US Federal Reserve... when he has something to say, the markets can move and when I came home, I saw that the market had shot up and generally looked rather choppy. I wasn't sure I'd be able to find an opportunity today but I did.
I shorted the market as it reached the previous high of the day at around 142900. I got in at 1428
January 10, 2008
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