Tuesday, December 16, 2008

Tuesday Notes - Getting Interesting

6:10pm Well, in light of last night's post and my engine stalling, I figured the worst thing I could do was to press on what is typically a standstill pre-FOMC morning followed by a crazy post-FOMC afternoon. So I again chose to pretty much stay on the sidelines with my lightest trading day of the year at 314 contracts for a +$2K gain hardly worth mentioning, although the teeny profits do reflect a solid post-FOMC announcement fade on a high TICK reading (small size obviously) with a cover on the TICK retrace to zero, again kept me from the dreaded 3-day consecutive draw, and put me in a decent frame of mind heading into tomorrow.

And here's where it gets interesting, For the first time in a while, we have a possible morning-after-trend oscillation setup which is one of my favorites. The key question is can this trader running on fumes summon the strength to find that one last performance push, and will the market cooperate by providing the pace to match?

The table is set and I need to be hungry.

15 Days to go.

As I said, here's where it gets interesting.


trader said...

Just like you, I have light trade in the morning. But don't you think it is a good opportunity after the announcement? Maybe the market looks like crazy at that time, but the potential risk/profit ratio is not so high.

Don Miller said...

Trader -

Given my being out of rhythm lately, the worst thing I could have done yesterday was trade it heavily.

It all had to do with my current state of mind, which to me is more important than any chart setups.


trader said...

Never mind.
I konw what you mean, and I think you will adjust to currently market rapidly as many expert trader do.
I am only a novice and I will catch you pace everyday to learn from you.