Happy Thursday ,
Wow, another insane session.
At 2 pm EST, interest rate data came out and the market pumped,
extending us three times the initial balance…
(IB is the first hour’s range of movement.)
The amount we extend during the rest of the session
is a good measure of the day’s volatility.
Now…
Extending the IB three times one way is unusual.
Three times the initial balance is the maximum I have marked.
But when Big Daddy Powell came to talk at 2:30 PM?
All hell let loose.
The market mega-dumped in an insane selloff cascade that left me bewildered…
And the price decreased to over four times the IB…
In the opposite direction!
From the peak to the time you get this email…
ES dumped from 3907 to a low of 3735.
172 points from one news event.
Or a move of $8600 per single ES mini contract.
This is why I advise newbie traders to stay away from news days.
And if you were trading…
I hope you set your stops like I told you to yesterday 😉
Korbs.
P.S: If you’re wondering about my profit, your boy Korbs
didn’t get caught out in this maelstrom.
I profited a healthy $322.
P.P.S: If you wanna avoid getting wrecked on days like this…
I suggest you train in a specific system…
So you know how to look for technical setups,
You ensure your psychology is in check to follow them…
And your risk is managed, allowing you to stay in the game…
But… where can you learn something like that?
By booking a discovery call here.
We will have a quick, 15-minute chat about your trading…
And find the best solution for you, together.
