R0R, u want to send the guy into a suicide mission? innit the case that there's zero backtestin' on jacks' bizarre theories.
Explicit instructions and Jack Hershey, now there's a real oxymoron. http://elitetrader.com/vb/showthread.php?s=&postid=305837&highlight=butter+plane#post305837
Alisa --- Hypostomus has a minor mental problem caused by too much self-abuse. He should have noted that you are a new user on the board and not sent you off on a wild goose chase. Forget the search. Grob109 is, according to Hypo, less than lucidly clear in his explanations about trading. Hypo's remark was tongue-in-cheek.
I love trading the Fed rate announcement! I am actually excited going into tomorrow and looking forward to it - this is proof I have a mental disorder!
I don't trade on Fed days because what you see is not what you get. I've had stop orders in the ES to stop and reverse existing positions. The worst I've seen is 4 pts. of slippage when the stop was hit after a announcement. The model will say I should've only lost the spread between the stop and the ask. Reality can sometimes be a bitter pill. When I want to gamble I'll go to a casino instead of trading on a Fed day.
One strategy is to use 2 accounts, long and short with 10-15pt stops on the YM, and wait to see which one gets stopped out and ride the other one for as long as possible. I haven't tried it myself, but it is a strategy used around big events obviously. I would use pit audio and program fair value buy/sell levels if I were to try to trade it. For some reason I've noticed 100pt sell offs if its going to go down. I think I might try to trade the equites from the lag behind the futures, it will be interesting to watch the program trading tommorow. I've also noticed it is probably best to do the opposite of whatever Bob Pisani says he thinks is going to happen. Fed funds have already priced in the .25 bp, it would be real interesting if we got something other than that tommorow. Also note, in the last week we got oil numbers out with an oversupply than expected and CL shoots up and dollar. All I got to say is "Don't reason the trade." Also, it would be in the interests of many long funds if things went up with it being the end of the month. Just my 2 cents.
I have tried his chat from the link which provide chart. Since I have my own chart. I listen to his chat room in the Paltalk room instead.