Trade Recap
Thank you so much for joining me. Today, I’m going to take a look at the trades that I took on Wednesday, November 2nd, 2022. Normally, I trade the morning session, but on this day I only traded the FED announcement of the rate hike and the comments afterwards. I took two trades in total, one in the SPY and two on the queues.
For the trade on the SPY, I took a quick short position at 2:00 PM when the FED announced that they were raising interest rates by 75 basis points. The market had a quick move higher, but I saw that it was having trouble going any higher. I held the trade for three minutes and it worked against me a little bit, but I was patient and held on until I exited for a profit. After this trade, I was up about 25 dollars after commissions.
For the trade on the Q’s, I also took a short position since everything was starting to fade. I thought that the market might break down as it approached the previous day’s close, but I held the trade for a little too long and ended up with a loss. At this point in the day, Jerome Powell hadn’t read any comments yet and the market was just reacting to the announcement.
As Jerome Powell started speaking, I noticed a slight uptrend forming on the Q’s and took two more trades. The first trade was a feeler to test the waters and the second trade was for three more contracts. I sold all four contracts 20 seconds later for a profit. Overall, I made a profit of 92.10 for the day.
Trading anything on FED day can be tricky because the market can change direction and trend very quickly. Thank you for watching. If you enjoyed the video, don’t forget to hit the Subscribe button so you don’t miss my next upcoming video. Make sure you turn on those notifications so you can continue to follow along on my journey to reach the $25,000 PDT level. Thank you so much for watching and have a great day.
Check out the other trade recaps here.
Here’s the previous day’s trades.
