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Daily Trade Posts

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Thursday, February 4, 2010

My Best Day Yet

Today was a great day trading. There was an unemployment announcement at 6:30 am that came in worse than expected. The market reacted as I expected and took a big drop. I used a straddle strategy and got in and out of the trade in about 20 seconds for a 2 point (20%) profit.

At 8:00 there was an announcement on factory productivity. This is a low impact announcement, but I decided to trade it anyway for practice. The announcement was better than expected and the market moved up. I used a straddle again and made 0.5 points (5%) on the initial movement. There was a small correction after about six minutes where I made another 0.5 points (5%). That's 3 points (30%) for the day.