[flv:http://www.newsprofiteer.com/101409-usfomc/101409-usfomc.mp4 480 360]
2:00pm (NY Time) US FOMC Meeting Minutes
ACTION: N/A
FOMC Meeting minutes is released 3 weeks after the Fed Fund Rate decision, and we get 8 rate decisions out of the year from Federal Reserve, therefore also about 8 of these minutes releases.
We saw a tick of optimism in the market following last FOMC rate decision as the accompanied statement indicated some improvement and stabilization in the economy. Therefore, with the reminder of this FOMC Meeting Minutes, market could once again return to that state of optimism and some limited risk appetite sentiment may take place.
I will be trying to decipher Fedspeak (language of the Federal Reserve) in real time and then make a trading decision, this release is basically for the more experienced traders who have traded prior FOMC minutes before and are familiar with the last FOMC Statement, and have the ability to read the market. It will probably be best to sit out on this release and watch market reaction to gain experience unless you are absolutely sure about trading this.
My past experiences showed that most of the time market will move heavily up and down due to volatility, but at the end of the day market will usually end up exactly where it started before the release. So it has a high probability of shaking you out of a trade as most traders tend to buy and sell with the market, and this case you’ll only find that the market reversing on you as soon as you entered. So once again, it is best to stay out unless you’re sure about it.
Related posts:
- US FOMC Meeting Minutes 09/02/09
- US FOMC Meeting Minutes 11/24/09
- Australia Monetary Policy Meeting Minutes 10/19/09
- Forex Analysis – FOMC Meeting Minutes
- Forex Analysis For US FOMC Minutes 08/30/11
- Forex Trading Analysis For US FOMC Minutes 10/12/11
- Forex Analysis For US FOMC Minutes 07/12/11
- UK MPC Meeting Minutes 08/19/09
- Forex Analysis U.S. FOMC Interest Rate 09/21/11
- G20 Meeting September 24~25, 2009
{ 6 comments… read them below or add one }
Hi Henry ,
How are you ? just a small question concerning your trading : When you put yourself in a trade what is the maximun drawdown you get in pips usually before you turn positif ? I am enjoying what you are doing , waiting for the big day .
Best Regards
Gerard
Gerard:
Usually between 30 ~ 50 pips of SL. I dont put the SL in the trade but use a mental stop and a zonal stop. If the zone is breached, then Issue a close trade… so it could drag a few pips, such as 30 SL end up being 38 or so.
Henry
thanks man
you really encourage me!!!!
i am eager to be trading with you in your trading room
i wish all of us a lot of success in your new trading room
Mike:
Thank you!
Henry
henry
when are you starting that trading room?
you keep saying 2 weeks, but it’s been a month already
my account is getting very low, i hope i will have enough funds by the opening of the trading room!!!!!
lol
Mike: All good things come for those who wait…
Thanks for your interest man, I am trying as hard as I can to get it going… so bear with me.
Getting ready any day now.
Henry