The irony is Caps phoned yesterday to say FOMC is likely to be volatile. I replied that’s exactly what I want.
But never seen a 100 point FOMC move in a single tick totally ignoring my stop (which was 16 points away pre-FOMC). The platform froze and the stop didn’t trigger until 18:02
Position was a tenner.
Yes it was silly to run a day trade through FOMC, more so that the trade was heading from 20+ points profit back towards breakeven pre-FOMC having held short for 3 hours, but I simply didn’t expect the spike as normally FOMC takes 3 or 4 seconds before anyone reacts, giving plenty of time to make a quick exit decision.
There was a tick at 17,765 which is where I believe the trade should have been stopped. A further 5 ticks took it to 18,567, and there was loads of ticks before it got to 17,958 thus the huge slippage was a tad unfair in my opinion.