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Daily Trade Posts

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Thursday, February 11, 2010

The Straddle is Killing Me

This morning at 6:30 was an announcement on Unemployment Claims. I was very anxious as this has been a very slow week for announcements. I used a straddle, but it was too tight. The market spiked down and then up and got me into the trade in the wrong direction. I lost 2 points (20%) in a matter of seconds. I played a correction and made back 1 point (10%). It's frustrating, because it's a trade where I should have easily won 2 or 3 of points.

Tomorrow there are a couple more announcements. I need to re-think my strategies and get a couple of wins.