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Will the Fed continue to taper or not? Do you even care? Will the upcoming announcement change the way you plan to trade tomorrow or keep you out of the market altogether?
Can you help answer these questions from other members on NexusFi?
I tend to avoid anything major. I often find price will do the opposite of what the announcement suggests and then trap you either way with volatility. It's usually a no win situation that even an oco won't cure.
R.I.P. Joseph Bach (Itchymoku), 1987-2018.
Please visit this thread for more information.
Do I even care? Not really, I am trader and can equally trade from both sides, up or down it doesn't really matter as long as I nail the correct direction.
Would that change anything to my strategy on the day of announcement? Yes, I do not trade news, I stay on the side and watch the price action, and essentially wait for the market to calm down before I pick my entry... That could require some patience and self control but I can manage nowadays.
I've also observed over time, that the very first movement in price is usually the correct one after the release, it lasts for few seconds only and then it gets followed immediately by a heavy reverse action for few minutes or so... To finally reverse back into the initial direction and it usually continues that way for the rest of the day or at least for a good period of time worth a successful intraday play.
This is of course no science, just my personal observations over many years of following the s&p 500 index around important news releases.Please do not trade off that info alone, I don't either!
Successful people will do what unsuccessful people won't or can't do!
"If you don't design your own life plan, chances are you'll fall into someone else's plan. And guess what they have planned for you? Not much." - Jim Rohn
Yeah, too bad that Lou Reed isn't able anymore to experience that...
"If you don't design your own life plan, chances are you'll fall into someone else's plan. And guess what they have planned for you? Not much." - Jim Rohn
Welcome to the club my friend tderrick, same with me...since yesterday... :sarcastic:
"If you don't design your own life plan, chances are you'll fall into someone else's plan. And guess what they have planned for you? Not much." - Jim Rohn