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The best way to daytrade FED day

Posted by Cire2222 on Apr 30, 2008

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               This is the strategy I used today. It  is one of the best ways to daytrade FED day, DO NOTHING.   The days that the FOMC announcement comes are wild and exciting but placing a bet on the outcome is very dangerous and more of a gamble than anything else. The biggest problem with daytrading FOMC is that you can be right on direction but get wiggled out. The market will knee jerk in both directions taking out stops on longs and shorts, then it will continue a move. So even if your right on direction there is a good chance you will get stopped out of your play before capturing gains, Sure the market can knee jerk in your direction first and hit your target but do you want to place that bet? I don’t

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