Home Sales and FOMC Interest Rate statement

If I was you, I would stay on the sidelines because it can make or break your account. Learning from experience, I would wait till about 30 minutes to an hour then trade.

For immediate release The Federal Open Market Committee decided today to keep its target for the federal funds rate at 5-1/4 percent.

Economic growth has slowed over the course of the year, partly reflecting a cooling of the housing market. Going forward, the economy seems likely to expand at a moderate pace.

Readings on core inflation have been elevated, and the high level of resource utilization has the potential to sustain inflation pressures. However, inflation pressures seem likely to moderate over time, reflecting reduced impetus from energy prices, contained inflation expectations, and the cumulative effects of monetary policy actions and other factors restraining aggregate demand.

Nonetheless, the Committee judges that some inflation risks remain. The extent and timing of any additional firming that may be needed to address these risks will depend on the evolution of the outlook for both inflation and economic growth, as implied by incoming information.

Voting for the FOMC monetary policy action were: Ben S. Bernanke, Chairman; Timothy F. Geithner, Vice Chairman; Susan S. Bies; Donald L. Kohn; Randall S. Kroszner; Frederic S. Mishkin; Sandra Pianalto; William Poole; Kevin M. Warsh; and Janet L. Yellen. Voting against was Jeffrey M. Lacker, who preferred an increase of 25 basis points in the federal funds rate target at this meeting.

http://federalreserve.gov/boarddocs/...2006/20061025/

I definitely screwed this one up! lol

damn the dollar got smushed!

LOL

burkerking and newstraderfx, hope you guys are reading this!!!

AND this!

Wow, I sucked on this one. Jumped short on GBP/USD toooo early

It was sooo easy to make money on this reverse, but I will end up even

here come the dollar buyers!!!! LOL

got me my 20 pips in the few mins from announcement! Good night.

caught my 20 as well on the dollar.

Not cool

Avg move was : 35 pips (the same like last FOMC)

Straddle 10 SL:20 TP: 54

close manually with with +12 !

YEah I got 20. It looks like it is heading back down it is at 1.8765 at the time I am writing this.

heading back up

this was a nice trade

first up and the retracement

Looking at the daily charts, it suggests to me that the dollar looks strong for the rest of this week ( 2-3 days)... Any body see different?

This was my first experience with trading during a major release... few lessons learned; will post details in my journal later

I stayed away from the initial frenzy... could have bought, could have sold.

I just waited for it to 1.88 before shorting for a few pips profit. .... i'd wait for NZ cash rate later instead.

I am currenty short on GBP/USD at 1.8780 with a limit at 1.8762 to make my stupid losses back.

LOL it has lost almost 30 pips so far.

We'll see if it follows through asia