The All-American TraderQ: That’s when you start to formulate a trade?
A: Right.
Q: Instead of just having a bias?
A: Right.
Q: Do you read the news at all?
A: No, I don’t really care about it. It’s not necessarily what the
news is, it’s how the market reacts to the news.
Q: Do you watch CNBC?
A: Yes, CNBC. I’ve got it on right now. I turn the volume down,
way down.
Q: But you are aware basically of what economic indicators came
out that day?
A:Ohyeah.
Q: And how the game is going to be played?
A: Yes, for FOMC. I play that. [Authors’ note:FOMC stands
for the Federal Open Market Committee of the New York Fed.
It meets 10 times a year to set short-term interest rates and its
policies can have huge impact on the financial markets.] I didn’t
do anything in the morning and I just waited for the FOMC.