1.40pm
Good afternoon all.
What the fuck was yesterday's rise all about? On no news! Big intuitions moving the market higher so they can sell into it? Were they waiting for prices to drop and 15666 was just too tempting for them to dive in like sharks in a feeding frenzy?
It just shows how unpredictable trading is and any retail trader who takes money out of the market is a fucking hero in my eyes.
I may not trade today although I'll have my platform open at 2.30pm and if there's an obvious scalping opportunity I'll take it. I'm busy on my day job, end of year is fast approaching and I have a ton of paperwork.
Quick word about the comments yesterday:
Thanks for your advice, I read everything and I take it all on board but ultimately I will stand or fall on my own merits. I believe in this market going higher and if it moves a couple of hundreds points against me I am comfortable living with that. I'm most comfortable scalping but I don't mind making the odd swing trade and I can live with it going behind. Any long trade made in the last 4 years would show profit even on a retracement of 500 points and yes, I have ample funds to cover that kind of variation even at £50 point (although you'd have to have massive balls to live with it).
You can talk all day about risk to reward but you trade the way it suits you and I'll trade my way and if you're reading this to enjoy a car crash you'll be disappointed I promise you. I'm improving massively and I will make good money from this. I succeed in everything I put my mind to and this will be no different.
We all have own styles, methods and trading nuances. We're at different stages of our trading careers, some of you may be relatively new and doing this along with your day job, some of you may be doing this full time. You may be investing in real shares for the long term or spread bet speculating and your pound per point may be £5 or £50 and your budget could vary from a few hundred pounds to tens of thousands.
You may prefer to trade with a stop loss of 20 points or 100 points but my point is that we're in a bull market and any trade in that direction is most likely to pay dividends even in the short term.
Onto today and despite my little rant just to show I do listen I have decided to trade at £15 point for the rest of this year. More later.....
4pm
Markets are slightly off but that's not surprising given yesterday's rise and FED meeting tomorrow. I'm surprised they haven't dropped further which tells me something about the strength of the market right now. No scalping today but I may take a small long and hold till tomorrow from here, just watching right now.
5pm
Despite the potential head and shoulders forming (30 min candles) on DOW I'm going to take a small long and leave it alone. I don't expect tapering tomorrow and I do expect this to rise..
I have SO much work to do in my day job that I cannot afford anything other than a cursory glance at my screen this week so I've made my trade and that's it. £15 point long.
My mood
Neutral really, I have to devote time to my day job so my energies are directed away from trading for today.
Hope you've had a successful day!
'till tomorrow
No comments:
Post a Comment