Wednesday, 22 February 2012

Wednesday Notes

Yesterday was quite a quietish day. We used to stand in the pit when it was quiet and say we'd never make money again. The market was dead. And then hell broke loose and we were in a manic period again. Markets go through quiet periods and the spring coils and then leaps out. In the mean time, there's money to be made but I just need to grind it out.

I bought the DAX on the open around 6908.0 and exited against the recent highs at about 6922.0. 14 points is 350 Euro per contract. The trend was identified as up. The market pulled back. I just bought the thrust up after that. Not too hard if you have the discipline to follow a trading plan. The Renko bars make it much clearer to see.

Today's trading was bits and pieces, Euro, ES and Light Crude. The transition is continuing as the world downsizes.

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