07:35pm   It is -3 outside at the moment so I’m spending the morning here in the warm with my charts and inbox. Any trades will be reported below through the day.

Market Update:

Market news leads once again with Asia and their 2015 4th quarter GDP figures. Many commentators cite the 6.8% growth figure as disappointing and equity markets will no doubt react slightly but it is still way ahead of any western economy where we struggle to reach 2% per year. Asian markets seemed to have taken the news well with all main indices in the black at the moment and Europe has started Tuesday’s trading session mainly positive with the FTSE100 looking to gap up around 70 points on the open at 8am. the German Dax-30 index looks to be starting in a similiar way but still has a definitely bearish trend on the daily chart and has been heading for the solid support at 9300 for a while now.

Crude oil markets took a breather yesterday from their downward trend with U.S. WTI Crude ending the session very marginally up and today has also started positively with the U.S. benchmark sitting at $29:66 up from yesterday morning’s low of $28:61. Although Iran has warned of increased oil production it will be quite gradual during 2016 so they may not have an instantaneous effect on the price that many traders have expected.

Trading Diary:

07:45am   Over the past few weeks I have had almost a dozen emails from budding traders around the world who have asked what my day is like minute by minute as a full time trader, so I shall be compiling an exact diary during today and publish it tonight/tomorrow.

09:30am   Possible ‘long’ trade on my S&P500 chart.

09:40am   The S&P price has risen above 1909.70 so I am now in a ‘long’ trade using one of my trendFX set-ups. The stop loss on this position is 65 pips which reflects the larger price movements this morning after a day’s holiday and also I am using a slightly higher timeframe than usual.

10:20am    Now also watching my WTI Crude chart as well as there maybe a ‘long’ trendFX trade coming up if the price rises above $29:79 soon.

10:40am   I am now in my 2nd trade of the morning, the above mentioned WTI Crude position, my stop loss is 37 pips this time.

10:55am    Neighbour just arrived for cycle ride so set targets for both trades at 1:1.

12:20pm   Back from cycle ride and my trades still trundling along,both slightly in profit. I am off out for lunch with some fellow traders at the Lord Nelson so I’ve brought both stop losses upto break even as I shall be away from my screen during the potentially volatile U.S. trading session open.

14:10pm   I have now returned from a pleasant lunch and both my trades have been stopped out, so zero profit at the moment for today.

15:00pm    Just checked my charts and nothing to see at the moment.

15:30pm    Charts off now, that’s it for trading today. I have compiled a basic diary of my movements today but I shall write it up into something slightly more interesting than just the list it is now and send it out to email subscribers and any new traders who would like to see it. (Email me for a copy)