iBankCoin
I turn dials and fiddle with knobs to hone in on harmonic rotations
Joined Oct 26, 2011
4,121 Blog Posts

Shrinking Targets Ahead of The Fed

My journal work these last two weeks brought attention the fact that I had been nailing my entries, but getting stuck in trades, losing interest, and then just managing to scratch them and lose a few bucks.  I think this behavior was a byproduct of our coiling markets ahead of the Fed.

What worked really well this morning was taking smaller profits.  Thus far I have taken three wins in the futures: two in the spooz and one in the 6E.  I would still be in two of these trades, contemplating scratching them for losses, had I not lowered my profit expectations by one to two ticks. 

This is adapting, this is surviving.  You must be one with the flow, one with your environment.  I strongly believe once the market gets some visibility (after the reaction to the Fed reaction) we will return to an environment where I can push my profit expectations back to their planned levels.

I cut EXK, no other portfolio adjustments.

Be amorphous, like water.  And stay calm if the market gets wiry around 2pm.  Perhaps listen to The Buena Vista Social Club:

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6 comments

  1. TheHarper

    Nothing better than a good old fashion 1973 Grateful Dead show to calm the nerves before a Fed announcement.

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  2. James

    Great music ! I went to their live back ’80th. Are you picking up any GMCR today’s sell off ?

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    • Raul3

      My A.D.D. resulted in my instead buying CLF and Z, but GMCR still looks pretty good. I would have liked to see more pump off the #notaper news though

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    • Raul3

      The Buena Vista Social Club members get rock star amounts of women. I don’t speak Spanish so when I translated their lyrics I was like, “Damn, these guys get it in”

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