Trading Diary ~ Monday 4th February 2013
9:35am (CET) ~ The main business news on Sky this morning has been the details of our Chancellor’s speech regarding his proposals for ring-fencing the UK’s banking industry so they keep their retail banking away from the more risky investment banking (or casino banking as the UK press like to call it in their typical alarmist agenda) Anyone who has an in-depth knowledge of trading knows that it has nothing to do with gambling even though it is (unfortunately) called betting in the UK because of our absurd tax laws. Can’t complain too loudly as that same crazy law allows me to earn a tax-free wage from my trading efforts.
Anyway – back to the markets, and as usual on a Monday morning, they take a while to get back into the swing of things, so do not typically show many trade opportunities early on. When I switched my trading platform on about 20 minutes ago I did see a ‘short’ opportunity on my Gold chart, and I entered a trade a couple of minutes ago to the downside, I will report back later on how it got on. I’ve also got 3 Skype calls this morning plus some emails to reply to, so I shall be stuck here in my study for the next couple of hours. After that it’s a cycle ride before lunch then off for a big food shop at Mercadona in Calpe this afternoon.
13:05 (CET) ~ Just came out of my ‘Gold’ trade with +35 pips, so off for a cycle ride now. I was going to finish earlier, but the price kept dropping so I stayed in a bit longer.
19:50 (CET) ~ I’ve just come out of ‘short’ evening trade on the S&P500 chart. I entered dead on 7:15pm (Spanish time) and managed my normal target for this type of trade (20 pips) Going to cook supper now for some friends visiting from the UK.
Daily Target Reached ? YES (+55 pips) I traded for the morning session plus an hour this evening