REAL-MONEY Trading Results for Mentor Mike’s POV 2.0 System for Wednesday, 3/18/15

REAL-MONEY Trading Results for Mentor Mike’s POV 2.0 System for Wednesday, 3/18/15

Today there were 23 contracts auto-traded in Pacific Trading Academy’s POV*account at Striker. They earned a REAL-MONEY PROFIT of $230.00 net of a $20 per contract transaction charge.

There are not a lot of governmental reports or actions that can really “spook” the market. One that definitely can is any kind of announcement from the FOMC, the Federal Open Market Committee of the Federal Reserve. Today, there was an FOMC policy statement at 11am PDT.

You cannot rely on logic or common sense to predict the market’s reaction to whatever the Fed announces. So, you are wiser and safer to simply take the day off, or at least be sure you are flat the market at press conference time. To make matters worse, the market tends to be pretty soft in the early part of the day session on announcement days. So it was today.

We took two shorts using our GRAND-A-DAY ATM strategy with the 2-POINT SAFETY auto-breakeven stop. We were stopped out with the bare minimum in both trades, but that beats a loss every time. Shortly after 11am, the market took off like a rocket and shot up about 20 points. After a move like that, our indicators are so skewed they are unreliable for the next several hours. So, we took our $230 and called it a day.

I will probably take off all future FOMC announcement days. Hopefully, tomorrow will be back to “normal.”

Want to learn more about my POV 2.0 trading system? Attend my free webinar this Saturday, 3/21/15, at 9am PDT:

Introducing POV 2.0 – When Price, Oscillator and Volume Align, GO WITH THE FLOW!

Register here:

Today’s Chart

Here is today’s screen capture.  Please click on the chart to make it larger.

Chart #1

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