The much anticipated Fed meeting brought volatility as usual. I planned some positions last night for both up and down scenarios. At 2pm fed announcement, ES pushed up to yesterday's high of 1647.75, then falling down to test lower trend line of 1638 and started bounce back. I thought it was going to test a new high since the Fed left QE3 alone. After several push down, bulls got crushed. I started getting excited and become inpatient since the near by ES options prices didn't react much to the drop. I was able to hold my pre determined entry price until near closing. I raised an entry of scalping from 1570 to 1585 in the heat of dropping. The emotion was fear of missing. It's now trading at 105 vs 0.55. I may have to take a stop tomorrow. I lowered 1550 entry to 205 for the week after and it got filled after hour. Discipline has a duration element too.
I got in some ZC/ZW calls this AM on a surge of prices. These positions are in next month or so. Got to remember to step aside after established a position. Reevaluate the market condition in the next hour or day before entering another position. I didn't know what caused the surge this morning before entering another position. Stay calm.
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