Fed leaves interest rate unchanged at 5.25% --> Luke Warm market response --> Lost $40
5 min Emini Nasdaq
Hi,
Did you try to trade before 14:15? which is before the FED makes the all important announcement about interest rates? I hope not... the market was quiet.. bascially waiting for the big move to come...
However, the big move never did come.. When the Fed announced that they are going to keep rates the same, the market reacted by a small rally.. I went long at 1964.. However, 10 minutes later, I was out at 1962.. There simply isn't enough momentum to carry the trade forward and I couldn't tell the market direction.. This was a confused market... I did the right thing by exit fast and limiting my losses to $40.