August WASDE Report

After a 2 month hiatus from trading this report, I was able to get in a demo trade on Friday.

Looks like I am a little rusty :worried:.

Initial risk was $34.25. So if my math was correct, for a 1:1 risk/reward ratio

Sell side TP would have been 48.25 (82.5 - 34.25) Buy Side TP would have have been 51 (16.75 + 34.25)

Market did come back down and briefly passed the 323.5 strike price… before shooting right back up, then slowly drifting back towards the 323 strike, before finishing the day 333.50

Had I taken a little bit more time and calculated the proper 1:1 risk-reward. I could have most likely had a nice profit.

AN Iron Condor really would have not worked at that time because there was no premium (had I taken the trade at 9:30 when the market opened… there might of been more) The market did shoot way up a bit earlier in the afternoon

This was actually the first time Ive seen the market not continue in the same direction it went when the report was released or at least not go back up so much towards the initial entry price

I still like taking this trade and with a better approach next month, should be profitable (probably will do it again in demo)

Very nice!! keep it up