What is one to do? The 1st of the major market movers is today with the Fed meeting results at 11:00. My plan in for a swing trade was to swing long into the meeting and take my profits today or tomorrow. Then expect a downdraft going into the UK referendum and play that for a buy the news bounce.
How has it worked out:) I had to take a bit of heat yesterday on my SSO swing trade but it’s now showing a small profit this morning. If the fed hikes today (odds are like 2%) then look out below. Neutral talk will most likely get a bounce as the market is oversold. Dovish talk and we should see a nice bounce for some quick profits.
Then it becomes a question of timing as to when to exit the swing trade and perhaps play the swing trade short. And then time the swing trade entry long for the UK Vote. I am getting dizzy!
The typical rules for entry and exits do not apply around news driven markets for a swing trade. Or at least they take a back seat to logical thought. And that is where the tough part is. Using logical thought while risking your hard earned money. Not many are good at that.
So today it’s applying my logical thought to my game plan. So far so good. But it’s early in the game:)
If you want to follow my trades and comments throughout the day you can follow @rickjswings. Its free as my handicapping and personal trading is not making much room for putting a serious effort required to charge for my investing tweets. I refuse to charge for something I am not putting 100% into. When I tell you that when I lose a sports betting play for me it does not concern me one bit but It does concern me those people that follow me have lost the play. It is just the way I am wired.
Good Luck Today
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