Trading Account

Trading Account

Monthly Trading Results

Monthly Trading Results

Monday, June 22, 2009

Slow start to the week

I opened another long position last night shortly after trading opened, primarily because of the gap down from the Friday close. Assuming that the gap would close overnight was correct as it only took 10 hours for it to retrace the full amount. However, I kept the position open because I still hold a strong bias on the long side at these levels. Also, my entry is almost -.25% from my nearest position so it fits within my trading plan.
The beginning of this week could be quite slow with traders waiting for the Federal Reserve to finish their meeting and release their statement and the Fed Funds rate at 2:15pm EST on Wednesday.

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