ZS -$625(10), CL -$373(3), NQ -$1908(70)
| RESULTS FOR DAY | |
|---|---|
| Contracts: | 83 |
| Net $P/L: | -2933 |
| Wins: | 2 |
| Losses: | 16 |
| Win%: | 11 |
| Avg$Win: | 94 |
| Avg$Loss: | -195 |
1 hour ago
Wednesday, August 21, 2013
Wed. 8/21
2:00pm CDT - Not a good day sums things up. But the good take away, besides knowing when to say when, is that my current discretionary approach has little to no edge. Time to revise the trade plan. Incidentally, the very next trade that I saw but did not take (-$3k was my uncle point), would have been long NQ after the post FOMC minutes chop and could have netted 20 points. Trading 5 to 10 lots, as I was doing, that's $2000-4000. But winning trades don't count unless you take them.
Net breakdown (contracts traded):
ZS -$625(10), CL -$373(3), NQ -$1908(70)
ZS -$625(10), CL -$373(3), NQ -$1908(70)
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Trading on FOMC day is dangerous and so is hindsight trading. Anyway there should be a specific FOMC setup since a normal setup will not work on FOMC day.
ReplyDeleteTrading on a FOMC day cuts both ways... IF, you get it right, you can look like a genius, get it wrong and it often times will hurt.
ReplyDeleteI try to let the market process the news before I take a position, never before.