Thursday, November 21, 2013

FOMC minutes day

Am one day late on this post. But anyway, yesterday was the day FOMC minutes was scheduled to be released at 11 am PST. The day started off bearish, so I was short. Price then jumped back up and stopped me out, and I reversed into a long position. Bonds then shot up about 12 ticks in my direction before reversing and stopping me out! Oops. Frustrated, I get short again and then BOOM. A continued trend down day, all day until the close. Solid day in the end.

I'll let the chart speak for itself.

Whipsaws happen, and are frustrating, but when a good strong trend emerges, it pays for all the whipsaws and more. Wisdom on trends paying for all whipsaws and more, in a song by Ed Seykota, the trading great!

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