Trading Diary & Market Update ~ Wednesday 4th September 2013
09:15am ~ The main markets mostly staged falls yesterday after the U.S. holiday on Monday. It would also seem that the Syrian problem is still having an small effect on commodity prices even though the U.S. has delayed a final decision on a limited missile attack, Brent Oil rose for the second day in a row and is now sitting at just under the $116 level. As I’ve mentioned before, when there is a threat of war (however small) traders perceive that the supply of important commodities such as oil will be interrupted, so the price will rise on these fears. This phenomena usually extends to the precious metals, so we had a good rise in the value of Gold yesterday as well. As I write this, the yellow metal is at $1407 slightly down on last night’s close. After such a large rise in the past 24 hrs we may get a bit of profit taking today so watch out for short trade opportunities if you’re trading this morning. Unfortunately I’ll not be in front of my Gold chart this morning watching out for these set-ups as I have a few errands to do that are inevitable after any holiday.
16:00pm ~ Just got back from my cycle ride and switched this laptop on so I’m going to start watching my S&P500 chart in a few minutes to see what comes up in the way of trades.
17:35pm ~ Quick update – I’m in one trade on the S&P with strategy 3 from the trendFX collection and I can also see another possible position coming up with my “evening” system.
20:20pm ~ I’m all done with my evening trading and we’re off out now for some supper in town. My 1st trendFX trade ended up at +38 pips when I came out at 6:30pm and my “Trade With A Day Job” position was stopped out at minus 14 pips.
Daily Target Reached ? YES (+24 pips) I just traded early evening today