Trading Diary & Market Update ~ Wednesday 11th September 2013
07:30am ~ I am up fairly early this morning as I have a guy in Australia who wants to talk to me via Skype about learning to trade – it’s early evening over there. I’m also going to switch on my MT4 charts now for a few hours (before going off to Southwold) to see if there are any potential trading opportunities to take advantage of.
With regard to the markets yesterday, we had good news all round and this helped a continued rise in the main U.S. indexes. President Obama addressed the nation last night to provide some clarity on the Syrian issue, and he has requested that congress should delay voting on whether they should use military force against the Assad regime, as he is in favour of the Russian suggestion that the UN should find the chemical weapons and have a controlled disposal of them under the watchful eye of the rest of the world. This move has buoyed investor sentiment and gave more impetus to the recent bullish move in the S&P index of the top 500 U.S. companies. As I have suggested a few times over the past week, investor confidence is often higher when oil prices come down (which they did yesterday due to the easing of Middle Eastern tensions) and in turn, the Gold price falls as stock markets rise because investors feel they no longer need a safe haven to put their money into. There’s always something interesting happening in the markets hey ?
As I am writing this, I can see a possible Brent Oil trade setting up with one of the strategies from my trendFX collection.
10:20am ~ Time for me to pack-up and get going up to Southwold shortly, so I have just closed off my only trade of the morning. Just after 8 o’clock I got into a ‘long’ position on my Brent Oil chart and it’s ended up giving me a profit of +75 pips. I have attached a chart screenshot showing the trade at the bottom of this post.
14:30pm ~ I’m up in Suffolk now and back from a lovely lunch at the Swan. I am going off for a walk across the river to Walberswick and see some friends – I shall be back here at 5pm to do some trading with my “Trade With A Day Job” strategy.
18:10pm ~ I have been sitting here in front of my chart for 30 minutes or so (with an ice-cold beer), and I am pleased to report I’m in a ‘long’ trade on the S&P500. I’ll report back later as to the outcome.
21:05pm ~ Well that’s the end of my trading today, I have just switched off my MT4 charts and we’re off in 5 minutes for some supper at the Crown. My only trade of the evening was stopped out at minus 16 pips, so my total for the day has come out at +59 pips.
Daily Target Reached ? YES (+59 pips) I traded for just under three hours this morning plus the evening session.
Here’s the Brent Oil Chart Screenshot from this morning (click on image to enlarge)