Trading Diary & Market & Update ~ Tuesday 9th October 2014

07:45am  ~  I have quite a lot of Skype calls today with people who’ve not traded yet but want to start, so I shall be around the house for most of the day so I will report back later with any trading opportunities as they occur.

Shares in Tokyo’s Nikkei index rose very slowly overnight as weak Yen gave large exporters a boost although subdued oil prices was depressing for energy shares and there was good news in China as optimism over its trade balance emerged yesterday after export numbers rose and imports fell. In Europe, Germany’s exports rose to an all time high boosting their trade balance – important news as Germany is an export-led economy – although this did not stem the continuing fall in the Euro which has been in a bearish trend against the Dollar since the beginning of August. U.S. indices are once again showing signs of exhaustion with both the Dow Jones and S&P 500 posting a raft of reversal candles over the past few days and Friday’s jobs numbers is hinting at a U.S. slowdown as we go into autumn. Over here in the UK there was a large reaction in the markets yesterday to a poll in the Sunday Times showing that Scottish independence is now looking like a certainty, companies exposed to Scotland’s economy were amongst the biggest fallers in the main London indices.

Big news in the oil markets yesterday was the fact that Brent Crude fell below the $100 level for the first time for over a year as on the back of news that China is importing less oil sparking a fear for a global surplus – this affected the U.S. WTI Crude values as well although there has been a rebound since yesterday evening but overall there is still a bearish trend on place.  One last note – watch Apple shares later today during their news conference that will be highlighting upcoming products.

Market Close Monday 8th Sept. 2014:  Dow Jones 30  -25.94 @ 17,1111.42  S&P 500  -6.17 @ 2,001.54  NASDAQ  +5.55 @4,095.47  FTSE 100  -20.33 @ 6,834.77  DAX 30  +11.01 @ 9,758.03  CAC 40  -11.56 @ 4,474.93

09:40am  ~  Not much happening on the few charts I have been watching fo rthe last hour – so I’m going to grab this opportunity to have a quick bike ride over to Walberswick and along the beach path to power station.

11:30am  ~  Just glanced at my charts as I switched them back on and if the Brent Oil price goes up slightly higher it will trigger a UTB trade.

11:40pm  ~  I am in a ‘long’ UTB position on my Brent Crude chart with a 25 pip stop loss.

12:25pm  ~  I need to help the builders for a while so I’ve come out of the Brent position –  and price has stalled for a while anyway so happy to be out, my score is +58 pips.

16:50pm  ~  My “Trade With A Day Job” system kicks off at 5pm UK time so I’ve just switched this laptop back on to watch the S&P500 for any possible set-ups.

17:15pm  ~  The S&P price has just reversed and given me a ‘long’ signal so I’m the market with a 21 pip stop loss.

17:55pm  ~  Just been stopped out of my position at minus 21 pips.  I still have a while until we’re due out for the evening so I shall keep watching the S&P 500 for any more opportunities.

19:05pm  ~  I am now in a ‘short’ position on the S&P  – with another 21 pip stop loss (coincidently !)

20:15pm  ~  We’re off out in a minute so I’ve closed off my 2nd trade – it’s ended up at +102 pips after the S&P has taken quite a tumble in the past 15 minutes.

Daily Target  +20 pips

Pips Achieved  +139 pips

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