113 pip on candle on FOMC... | Forex Factory

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113 pip on candle on FOMC...

  • #1
  • First Post: Mar 18, 2009 1:20pm Mar 18, 2009 1:20pm
thise is crazy

what hapend?



??????????????????????????????
  • #2
  • Mar 18, 2009 1:22pm Mar 18, 2009 1:22pm
look like thise...........
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  • #3
  • Edited 1:48pm Mar 18, 2009 1:26pm | Edited 1:48pm
Quoting Superscalper
look like thise...........
FOMC throwing everything they have at the economy. Very Very Aggressive and will ultimately cause inflation. But in the short term any one caught in bonds short is screwed. Bonds will rally anything that has USD as a base currency will rally stocks will rally. perhaps all short term.
  • #4
  • Mar 18, 2009 1:32pm Mar 18, 2009 1:32pm
Geppy did it too. I was wondering what happened, and figured it was news, but no info of planned announcements. The Dow jumped a good 180 points from down to up 100 too. For once I got rewarded for a spontaneous trade, short gbp/jpy just a couple minutes before the news hit and got my 100 pip default TP hit very soon after. What fun!
therealisttruest (FF wouldn't let me put my full ID because of length)
  • #5
  • Mar 18, 2009 1:37pm Mar 18, 2009 1:37pm
smjones what means FOMC....?
  • #6
  • Mar 18, 2009 1:38pm Mar 18, 2009 1:38pm
Nice being on the long side of that move. (gu)
The trend always ends.
  • #7
  • Mar 18, 2009 1:49pm Mar 18, 2009 1:49pm
Quoting alien166
smjones what means FOMC....?
??????????????? Is your question a joke? Sorry, I don't understand

Federal Open Market Comedy I mean Committee.

Ben Bernanaki and the gang LOL
  • #8
  • Mar 18, 2009 1:50pm Mar 18, 2009 1:50pm
Quoting alien166
smjones what means FOMC....?
Federal Open Market Committee.
  • #9
  • Mar 18, 2009 1:52pm Mar 18, 2009 1:52pm
Quoting alien166
smjones what means FOMC....?

Federal Open Market Committee. They are one of the two parts that make up the Federal Reserve - the central bank of the US which dictates/controls monetary policy.
  • #10
  • Mar 18, 2009 2:06pm Mar 18, 2009 2:06pm
....and you can imagine i was selling crude oil instead of buying !!!

How can one avoid this kind of stupid mistake again?

any formula?
  • #11
  • Mar 18, 2009 2:07pm Mar 18, 2009 2:07pm
How can an fx trader not know the Fed was making a statement today?

Anyhow, the reason behind the massive reaction seems to be the bond buy-up: http://www.forexfactory.com/news.php?do=news&id=158875
  • #12
  • Mar 18, 2009 2:45pm Mar 18, 2009 2:45pm
Quoting Goat
How can an fx trader not know the Fed was making a statement today?

Anyhow, the reason behind the massive reaction seems to be the bond buy-up: http://www.forexfactory.com/news.php?do=news&id=158875

oops, won't speak for anyone else, but honestly wasn't paying attention. I'm still in the 95% failure group at this point anyways. Note to self: Always check for news releases FIRST. Usually I do that, but too tired this morning and should not have traded anyways. So for me, 119 pips in my favor, based totally on luck! Hey, I'll take it, especially when I was really only looking for 20 or 30 on my trade. Just goes to show, the market is merciless and we all need to be on the top of our game if we want to succeed. I'm working on it!
therealisttruest (FF wouldn't let me put my full ID because of length)
  • #13
  • Mar 18, 2009 3:33pm Mar 18, 2009 3:33pm
Quoting wuchin
....and you can imagine i was selling crude oil instead of buying !!!

How can one avoid this kind of stupid mistake again?

any formula?
It is not crazy at all. The way to know about this is to go to this site
http://www.forexfactory.com/

It is on the home page LOL
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  • #14
  • Edited 6:30pm Mar 18, 2009 5:44pm | Edited 6:30pm
anyone see a gold chart? it freakin jumped up 60 bucks in FIVE MINUTES. i haven't seen anything like that before. seriously crazy:

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that's just retarded. what it took twenty days to do in the past, it did in a few minutes.

on another note, i was in a long EURUSD trade, low lots, practicing some short term trades. i was going for about 20 to 25 pips. i closed the trade at +193 LOL!!!! WOOOOOT!!!
  • #15
  • Mar 19, 2009 4:02am Mar 19, 2009 4:02am
I am kinda new in the fx world. I went into this particular trade with a take profit of 30pips. i was amazed how price jumped far above that (i thot i was dreaming).

Does this alwaz happen when ever there is news on FOMC or statement of Federal Reserve Rate or both.

If it does how do i get the best out of this move? may be i shouldn't set a take profit and then trail my stops. what do u think?

Please i need ur response
  • #16
  • Mar 19, 2009 4:53am Mar 19, 2009 4:53am
Moves like that don't happen very often, but often enough. There was no way to predict what the FOMC would say, nor the market's extreme reaction.

If you made money on it, you're lucky, especially if you rode it to the top.

If you lost money on it, you're unlucky.

If you lost your shirt because you didn't have a stop loss and you weren't watching the markets, you just got a valuable lesson in trading.
  • #17
  • Mar 19, 2009 7:20am Mar 19, 2009 7:20am
Quoting smjones
FOMC throwing everything they have at the economy. Very Very Aggressive and will ultimately cause inflation. But in the short term any one caught in bonds short is screwed. Bonds will rally anything that has USD as a base currency will rally stocks will rally. perhaps all short term.
I hope others played any currency against the dollar today and last night. I did. It was a BIG no brainer. Still in them. I loaded as much as my risk management would allow safely.

Looks like the FED is loading up on the long term treasuries to force the yield curve down. It is going flat. This in turn takes the incentive to buy Treasuries away from the banks and I think the hope is that it will force the banks to lend capital instead of just buying long term treasuries and living off the interest.

This is ultra important to FOREX and currency Futures trading.
  • #18
  • Last Post: Mar 19, 2009 11:38am Mar 19, 2009 11:38am
Quoting smjones
I hope others played any currency against the dollar today and last night. I did. It was a BIG no brainer....
i've been in a long term USDJPY buy for about a week now. this totally destroyed it. i'm down about 450 pips, about 150 away from the stop.
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