Another exciting day trading the Russell 2000 e-mini futures. The market opened down and found support around the 699 area. After rallying about 10 points, the market based sideways for an hour. It broke a trendline to the downside and and had two bobber set-ups back to back. Both set-ups made the objective.
Today was the much anticipated FED rate decision. The market usually on these days doesn’t move around much right befote the decision is announced. That was the case today. Once the decision was the announced (a rate cut of 1/point), the market took off to the upside, sold off almost to where it started its advance and the rallied again before selling off strongly. There were no set-ups using my strategies until the last 10 minutes of the trading day. For those of you who are just beginning to follow my trading journal, my trading rules don’t allow me to trade with in the last 30 minutes of the trading day. I am posting the chart so that those of you who are new to my blog can see another set-up. There was a trend line break to the downside at 14:45 pm CST followed by a bobber set-up at 14:51 pm CST.
This rule of not taking trades in the last 30 minutes of the trading day fits my personality and trading style. After watching the market for a while, you may decide to want to change that rule allowing you to take trades in the last 30 minutes. It is up to you to make that decision.
So, for today, there were 2 trades, both winners. Some might look at the chart and say that there were alot of points to be made in the last couple of hours of trading. Unfortunately (or fortunately depending on your point of view) my trading criteria for set-up were not met. All in all, not a bad day trading.
Here’ s to catching a whopper!!
Regards,
Ron
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