Wednesday, 9 May 2012

Trying to Go Down?

The stock markets are down when I wake up (London time) but are tending to creep back up (although value is being pushed lower each day). It seems there are still buyers out there who are more optimistic than I am. I've been running my longer term strategies for the downside since Thursday and have been well paid for my effort. Maybe a couple more days to go and then we'll see what happens next.

My day trading has been biz as usual, as you can see from the blog. It's a matter of finding those trends on the one chart and trading the pullbacks. Outside in trades are more unreliable and don't have the same win rate, unless double down money management rules are employed. Not for the newer trader.

DAX opened with a gap down and held the uptrend, so buying it was not hard, although the reward was not brilliant on the first trade. After that, the rhythm of the market came back and the trades unfolded.

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