The Employment Situation Report was good enough to shoot the market back to testing the recent highs. Will have to wait until the open to see if traders believe this move is a buying or selling opportunity.
Charles
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I had a buy stop at 996.25 and sell stop at 992 prior to the NFP #s (via ThinkorSwim's iPhone platform in Sim mode). Filled at 996.25; scaled out all at 1002.50-1003.00 on the pop. I wonder if that 996.25 fill was realistic though considering how quickly price shot up. I've done this in the past on my Live account as well with 1-2 tick slippage. Seems like the best way to play the economic # releases.
ReplyDeleteI had a buy stop at 996.25 and sell stop at 992 prior to the NFP #s (via ThinkorSwim's iPhone platform in Sim mode). Filled at 996.25; scaled out all at 1002.50-1003.00 on the pop. I wonder if that 996.25 fill was realistic though considering how quickly price shot up. I've done this in the past on my Live account as well with 1-2 tick slippage. Seems like the best way to play the economic # releases.
ReplyDeleteI tried that once with real money. Two contracts on both sides of a range just before the release of the number. The market shot up on a knee jerk reaction and took out my buy stop, and then quickly shot down and took out my sell stop for a quick $900 loss in a matter of less than a second.
ReplyDeleteI have never tried that again.
Charles