FOMC:
Wait for the price to go where they want to take it, look for a clean set up, then enter the markets if you wish to trade. The most amount of money and accounts are blown during FOMC and NFP because traders are trying to capture the volume driven candles with large lots. This is not trading, this is gambling! Tonight the casino is open, the drinks are free to entice you, only you can have that discipline to sit and wait patiently for the right moment.
Those who are new to trading and those who are less experienced, please stay away from trading until tomorrow. Remember, the trade comes after the event, they will whipsaw the market, maybe not on the release, but during the Q&A session which is at 30mins past the hour
Wait for the price to go where they want to take it, look for a clean set up, then enter the markets if you wish to trade. The most amount of money and accounts are blown during FOMC and NFP because traders are trying to capture the volume driven candles with large lots. This is not trading, this is gambling! Tonight the casino is open, the drinks are free to entice you, only you can have that discipline to sit and wait patiently for the right moment.
Those who are new to trading and those who are less experienced, please stay away from trading until tomorrow. Remember, the trade comes after the event, they will whipsaw the market, maybe not on the release, but during the Q&A session which is at 30mins past the hour
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