20191030
Long 1 NQ 8040.0, +6.0
Short 1 YM 27004, -7
Long 5 RTY, 1568.8, 1568.3, 1567.2, 1567.3, 1567.3, -1.4, -3.5, -2.6, -2.7, -2.7
Short 1 NQ 8053.0, -1.0
Short 2 RTY 1570.0, 1570.0, -0.7, -0.7
Short 1 NQ 1560.25, -1.25
Total YM -7
Total NQ +3.75
Total RTY -14.3
Trading around the news is usually not a difficult exercise. Although some try to bracket it, I find that by using a Stop-Limit, you seldom get a fill at all, and by not using Stop-Limit's you are filled at the spike extreme, just where you might want to be exiting the trade. If a solid technical signal of reversal comes a few minutes before the news, and the impending reversal trend lends you a sufficient amount of cushion, it is amazing how many times the technicals seems to have predicted the outcome of unpredictable news successfully. Thus, when in such a pre-news reversal position, I usually type the words "no ccushion no keep" into the chat room, as a heads up to prepare to liquidate the position just prior to the news, lest the impending news release go too far against your position to survive your stp-loss allowance. This game is usually fair, because most news items tend to keep to the schedule, and are released on time. ....but it was not so today... In fact, the scheduled release was in fact from the Bank of Canada, and their opinions as to rate adjustments usually not exactly packed with predictive certainty for impending economic analysis down here in the lower 48... So I thought the 4 minutes after the schedule of the BOC remarks ample time to prove the news was, in fact, a dud, to lay on a few RTY contracts for the potential bounce back up.... oops...a quick $600 stp-out. I don't much like the Canadian government today... but then I don't much like the Canadian government on any day... but that's another subject and not particularly well suited for this trading blog.. all the best otherwise...
