When I was in the S&P pit we used to play cards in the break room or go on long lunches before a fed meeting. We never spent any time talking about what the fed should do. I followed what the veteran traders were doing & that taught me how to trade Fed days.
The announcement was out of our control so we only focused on trading it after the news came out. We knew what was expected, had some levels weโd be watching & weโd execute trades based on the market reactions after the announcement.
Thinking too much about what the Fed should do prior to the release creates a hidden bias & they wanted to come into the announcement calm & with no hidden bias.
The way to be the most effective as a trader is to not carry any bias and be in a good mental state when the news really does break.
For traders the money isnโt made before the announcement, itโs made by being in a calm mental state executing after the announcement.
@BlocksNThoughts The fact that there's so much anxiety makes me think the trend is flipping bullish. The people are saying the market is euphoric need to re-think that hypothesis. I agree with you...sideways city and then trend flip. Too many folks expecting doom.
The Sidelinoor Thread ๐งต
Sometimes you feel frozen out of the markets. Price never returns to your levels, you miss each move higher, your alts never seem to move, when you close the position down they moon.
Common feelings for many.
I'll give some advice.
All time put buying record.
Friday 37.4M Put option contracts traded.
The 2nd biggest was 33.6M contracts on September 23, 2022.
On Thursday 27.3M Put option contracts were bought, this was the 8th largest ever.
This comes at a time when we see record $SPY inflow. Something is brewing below the surface and huge bets are being met and hedged imo.