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Wednesday, June 25, 2008

Stock market, stock trading, Forex trading, currency trading Fed Time Report

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Dear all,

I am almost ready for the Fed action. Here is what I think someone with less experience should know:

1. Sellers and buyers take a good distance from current price before annoucement.
The above is a reason for fast and large movements immediately after announcement.
Think of as price trying to go search for strong buyers and sellers

2. NDX sellers are now in area of NDX 1948.

3. NDX buyers should be in area of 1902.

Let the action begin. I may not be able to post often as I typically dance with price in real-time.

I trade wih small position, but short time entries and exists (scalping) but I can change my plans.

I will trade both forex and the stock market.

Good luck, chat later.

UPDATE

2:39PM: I shorted half in area of 1943. Then covered in 1930.

Now I am, re-entering again in restest of highs. Current support (FOR PROFIT taking NOT for going long) is in area of 1925. Strong buyer won't show up until 1902 if they do!

second trip was done with less profits (7 NDX points).

Total for Fed annoucement dancing is 20 NDX points.

2:56PM: END OF FED annoucement trading. Back to normal. I will analyze chart and get back.

3:01PM: with NDX at 1949 went short (half normal position)

3:21PM: with NDX at 1940 I close short position off (result= +9NDX points)

I plan to re-short on possible re-test of high.

3:38PM: NDX at 1925: This is the area I indicated above I would take profit on short positions for today. I took my profit too early. If I still had my short position I would taken it here for +24 NDX points as profit.

Happy trading

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Happy trading,

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