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Stop-Running or What?

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Of course, I have watched the ECB Press Conference today at 7:30 AM CT (Thursday 03/10) together with the markets. I did not intend to enter any trades before Draghi had his moment and I was surprised by the strong down move at 6:45 AM CT. In just a couple of minutes the Euro FX went down about $1,600. Stop running or was it because of the ECB announcement of lower interest rates (actually everyone was expecting this move from the ECB) at 6:45 AM CT?

After the news were out the market went up to were it came from, it moved even a bit higher (move to the up-side about $3,600 this time).

Honestly, I am never sure how to interpret these moves. All I know is, these moves happen from one moment to the next and are difficult for me to trade. As soon as I now what is going on the market turns around and goes the other way. This happens quite often.

Well, stop running or not, for the ones trading on daily charts it was probably a “kick-out-day” today while for day traders or scalpers the volatility might actually help.

Did it help with my own trading today? Honestly – NO. I don't like to trade related markets (currencies today) on these kind of announcements. I took a short trade in the Notes and maybe I will trade the Grains or the Meats later, we will see.

Good trading,

Andy Jordan

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Andy Jordan

Andy Jordan

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Andy Jordan Educator for Futures Trading Strategies on Spreads, Options, Swing/Day Trading, and Editor of Traders Notebook. You can read my bio by following this link.

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Thursday, 26 December 2024

Derivative transactions, including futures, are complex and carry a high degree of risk. They are intended for sophisticated investors and are not suitable for everyone. There are numerous other factors related to the markets in general or to the implementation of any specific trading program which cannot be fully accounted for in the preparation of hypothetical performance results, and all of which can adversely affect actual trading results. For more information, see the Risk Disclosure Statement for Futures and Options.