A Quiet but Winning Tuesday

My trade went well today and netted me 30 pips. Good times, indeed.

There wasn't very much fundamental data to come out today. Tomorrow, however, "Big" Ben Bernanke will meet with his FOMC coevals to raise the fed funds rate for what most are forseeing as the last time after 16 (?) consecutive rate hikes. I think this will cramp the Sterling's style briefly, but this won't happen until 2:15 pm tomorrow. After that, there will be some downward pressure on the GBP/USD pair for Thursday's European session.

What should we do? The prudent speculator would most likely stay out of the market tomorrow, as volumes will most likely be low ahead of the rate announcement. I'm going to play the conservative card and sit tomorrow out, at least until shortly before the rate announcement. It's really tempting to try to get a trade in early, but I'm going to resist the sweet temptation! I know enough to know my own greed will always be my undoing.

With that, Happy Fed Funds Rate Hike Day!

(Hopefully it will be the last one for the forseeable future.)