You Best Chance to Make Money is Tomorrow (9/19/23)
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Traders - tomorrow is the biggest day of September for us volatility traders to TAKE ADVANTAGE of it with Fed Chair Powell coming up.
For SPX traders you are basically playing a pricing game on the options: IV is going to be sky high but you want to basically buy when the IV dumps as the index moves against and play bounces. Use it to your advantage.
For futures traders, you are playing a win/loss ratio, this chart will help explain what I’m saying:
Here’s a ES trade I placed today to play the breakdown of $442 on the SPY on one of my APEX Tradovate accounts I’m working towards funding.
I shorted there at 4490 with a stop loss at 4495 and covered my position at 4479.
Therefore, I risked 5 points to make 11 which is a great win/los ratio and therefore a trade you should always take as I only need ~30% hit rate to win. 7 contracts like I had on this account nets +$4K in profit on a small breakdown like this- if you take enough trades like this tomorrow you should be able to capture the volatility if you cut when you’re wrong quickly.
Now, the market basically knows exactly what’s going to happen tomorrow with a 98% probability of no hike.
Here’s the tool below based on 30-Day Fed Fund futures prices:
Everyone will be waiting for Fed Chair Powells press conference tomorrow for the big move, here are the SPY levels you need: