Trading Diary & Market Update ~ Thursday 14th November 2013

10:15am CET (9:15am UK time)  ~  We had a another late night (with a poker evening up the road with neighbours) so my day is starting rather later than usual – I’m off on a cycle ride now then back here for an hour in the study doing some emails. The weather here is picking up so we will be out on the boat this afternoon, we passed on that opportunity yesterday due to the rain.

On the markets the European equities look like they’re going to open slightly higher this morning as the Bank of England and the Fed both comforted investors yesterday by hinting that any change in UK monetary policy or U.S. quantitative easing will not take place until they feel their economy is fully ready.

Data from the Bank of England confirmed the unemployment rate is on the decline, and that recovery has taken hold, however Mark Carney will hold off any policy change in domestic interest rates until 7% unemployment rate is reached. The Fed’s soon-to-be-Chairman Janet Yellen claimed last night they has made good progress towards its goals but still had a significant amount of work to do still. It will be shown tomorrow that the jobless rate will still be too high and the labour market as well as the economy has not performed to its potential. This means that the Fed will continue to support the economy with their money printing scheme, with tapering getting to be further away than many traders have expected over the past month.

20:00pm (CET)  ~  I ‘ve not long been back after a lovely afternoon out on the water, and I’ll now switch on my MT4 trading platform and watch my S&P500 chart to see if there’s any “Trade With A Day Job” opportunities. It’s a bit later than usual for me but there should be something to trade.

21:10pm (CET)  ~ I’m in a long trade !!

21:50pm (CET)  ~  As it’s very close to the end of the U.S. trading session, I have shut my trade off at my theoretical daily target of 20 pips.

Daily Target Reached ?  YES  (+20 pips)         I just traded the evening session although I did watch a few charts this morning for an hour but no opportunities.

 

 

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