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[Solved] Stopping trading 30 mins before FOMC
Recently I have seen advice that trading should be stopped 30 mins before FOMC (it's there in today's daily setup too).
My recollection is that earlier Al used to advice not to trade 10 minutes before and 10 minutes after the FOMC.
1. Is my recollection correct or is this my mind's Mandela effect 🙂
2. Isn't 30 minutes a bit too long, or do the markets become unpredictable (PA wise) so early before FOMC?
3. Do you think that if am trading another market the 30 minutes rule should be applied there too (in high importance news reports/events)
Correction: 10 minutes before till 10 minutes after the FOMC
Yes, my recollection was the same as yours, 10 minutes before/after so I asked Al to clarify. Here is his reply which I will put into Daily Setup chart:
"Realistically, a trader should not put on new trades when within 30 min, but if in a trade, I would get out no later than 5 - 10 min before, and sooner is better."
Hope that helps.
Yeah that makes sense.