cogitoergosum
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Morning all, here I am, watching the price action on the FTSE, and as usual, it's treading cautiously in the footsteps of the Dax this morning. The Daily on both contracts saw 4900 and 5700 respectively, and those seemed to offer resistance, so they trickled down consistently from that point - with no sign of a reversal YET.
I usually put my trade on at 0830, after I've seen what the candlestick looks like. But this morning I shorted the FTSE as it passed through 4890, with a stop at 4815 to clear the spike. I've now ratcheted down my stop to my breakeven level so that I can't lose in the event of a reversal. I don't put it beyond the Dax to try a show of strength and reverse, climbing through 5700 again, but we'll see. It may well be that the whole day (at least until the US open) is down this morning. Any thoughts? I have a feeling it'll be a slow day. In any case I'll stop at lunchtime and take the rest of the day off, having done quite well this week so far.
I usually put my trade on at 0830, after I've seen what the candlestick looks like. But this morning I shorted the FTSE as it passed through 4890, with a stop at 4815 to clear the spike. I've now ratcheted down my stop to my breakeven level so that I can't lose in the event of a reversal. I don't put it beyond the Dax to try a show of strength and reverse, climbing through 5700 again, but we'll see. It may well be that the whole day (at least until the US open) is down this morning. Any thoughts? I have a feeling it'll be a slow day. In any case I'll stop at lunchtime and take the rest of the day off, having done quite well this week so far.
