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29th January 2018

Support at 7665 and 7640 today

Todays post here

Strong US action Friday evening.  Continued Asian lift this morning, and futures back down for another bite.  I've stops at b/e on all trades from Friday.  Hoping to add once it bases again.  Big data week, just hoping the trump doesn't stick his big foot in it tomorrow.

 

 

Retest of 7600 looks likely to me.. build a firm base there then a new rally leg. Don’t really feel like it’s going to go to 7700+ just yet with sterling still strong, so think more consolidation

Also, that’s exactly what happened last year with 7100.. chopped 7100-7200 for a few weeks then up to 7300. Given it’s behaved almost identically might as well stick with that playbook

True, sterling is strong, but it may just be turning a corner, if only short term.  I'm currently 90 pips short cable and holding it. Long eurgbp as it bounces back into the range.

Good morning. I wonder if Nick has taken 7665 long? I am currently long Dax 13276 (but lost 10 on 13299 never mind). Low stake but feel I recovered from the flu. We've all been ill here. But I don't know the target to where Dax may go, I know we are testing the pivot right now. I'd appreciate if anyone'd tell me if it's going to 13360 maybe?

Nick, if you don't mind me asking. Do your members follow your trades literally? Is it possible for them to see when you entered, took half, closed? How can they find out when you altered your position? Thanks.

Does the chat room and your desktop require a strong internet connection? Can that chat/desktop work from iphone or has to be on computer only?

Got out +67 on 341, I just think that resistance 13340 would be nice. I hope I've done most of the move.

Quote from Cowboy on 29th January 2018, 12:11 pm

True, sterling is strong, but it may just be turning a corner, if only short term.  I'm currently 90 pips short cable and holding it. Long eurgbp as it bounces back into the range.

When something is trending strongly it doesn’t usually give back on the first go.. Sterling has defined $1.43 as resistance now but will probably retest that soon before a bigger down move can start. Last jan it went to $1.27 then back to $1.24.. retest $1.27 then down. Can see the same move this year and same reaction on FTSE. The US market is a curve ball though, it’s that extended a correction could come in any time and that might mess up the plan to buy a FTSE dip

Quote from Jack 2 on 29th January 2018, 12:20 pm

Good morning. I wonder if Nick has taken 7665 long? I am currently long Dax 13276 (but lost 10 on 13299 never mind). Low stake but feel I recovered from the flu. We've all been ill here. But I don't know the target to where Dax may go, I know we are testing the pivot right now. I'd appreciate if anyone'd tell me if it's going to 13360 maybe?

Did indeed, but all out at 7680. Had a Dax long at 13277 all out at 13320.

Here is a sample of the trade log so you can see the running commentary from this morning

Sample Trade Log

Oh, great Nick. The log is seen clearly and nobody interrupts with comments. I would like to join from tomorrow and also see if my internet connection is good enough. Shouldn’t be a problem I guess as my platform runs from computer. Would you accept me? It is clear I am not going to stop so your help and reassurance would be really needed. I need to reach consistency and more or less tolerant attitude to losses. Should I register early in the morning like 6am?

Those are nice moves Nick.

Can I ask what position size you use personally relative to account size?  £pp per £10k?

 

 

Gone long on S&P now at 2863, just taken half at 2869 and stop to 2864 on the rest.

There are 2 rooms - the trade update one which only I post in and that is the screen shot above. Then there is a general chat one where everyone can post messages, questions, trades etc

Quote from Nick on 29th January 2018, 3:55 pm

Gone long on S&P now at 2863, just taken half at 2869 and stop to 2864 on the rest.

There are 2 rooms - the trade update one which only I post in and that is the screen shot above. Then there is a general chat one where everyone can post messages, questions, trades etc

Oh, thanks. That’s exactly what I didn’t understand.