Another trading day completed. It was a mixed day. Started with a nice BULLISH trade on the DAX. i know – it’s hard to believe after I have been shorting it for three weeks straight. However the sentiment seems to have turned somewhat. I do find that the round 100 levels on the DAX cash market are good to work with. This trade went into profit very quickly and quickly rallied up some 35 points – I tightened the stop, was unfortunately stopped out for +10 before price went on to hit 8800 and kept going. That said the 8800 was hit thanks to unscheduled ECB sources comments (which also weakened EUR across the board).
The other questionable point on this trade was whether the initial stop of 35 points needed to be that big.
The rest of the day was a number of small losing and scratch trades – including two attempts on Cable, as well as Oil and one more DAX. The net result for the day was a loss of 0.95R. I also had a long lunch with two friends who have also spent considerable time on learning how to trade and have been placing a large number of trades. We discussed a lot of the intricacies for several hours – thanks guys!!
Right, I better head off to catch Zak’s trading cafe!!