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3rd January 2018

Todays market discussion

Todays post here

Shorted dax today at 12937 which has worked well

Morning all.. Happy new year! Looks like 7700 could have been the short term high.. new highs are bullish so I'm binning off my call of a significant drawdown coming on FTSE. That being said, looks like it will retest 7600 next to me so I'm short from 7650. And I make that 14 up months in a row for global equities.. new year means that run is vulnerable.

A few other observations: correlation between FTSE and Sterling seems to be coming less relevant than it has been in a while. Correlations between different indices have been non existent with FTSE up 400 in December and Dax not rallying.

So New Years resolutions for trading - stop making bigger picture calls, it's difficult to do when the vol is this low. Focus solely on the FTSE chart and ignore what everything else is doing. Think these points are obvious but it's worth re-writing this in the trading rules as a reminder

Quote from Mcgcapital on 3rd January 2018, 11:49 am

Morning all.. Happy new year! Looks like 7700 could have been the short term high.. new highs are bullish so I'm binning off my call of a significant drawdown coming on FTSE. That being said, looks like it will retest 7600 next to me so I'm short from 7650. And I make that 14 up months in a row for global equities.. new year means that run is vulnerable.

A few other observations: correlation between FTSE and Sterling seems to be coming less relevant than it has been in a while. Correlations between different indices have been non existent with FTSE up 400 in December and Dax not rallying.

So New Years resolutions for trading - stop making bigger picture calls, it's difficult to do when the vol is this low. Focus solely on the FTSE chart and ignore what everything else is doing. Think these points are obvious but it's worth re-writing this in the trading rules as a reminder

Thanks MCG. Haven't bothered to do a 2018 outlook for that reason - could actually do anything this year, including a US/NK/Iran kick off.