Trading Diary & Market Update ~ Thursday 24th October 2013

08:10am  ~  Just a quick note to say that I’ll not be trading this morning, myself and two friends are off to Duxford Aerodrome to look at a plane for sale.

Yesterday we saw the first down day for European markets in nearly two weeks as investors started to get nervous about the European Central Bank’s plans to undertake risk assessments on the loan books of the euro zone’s largest banks over the next year or so. Despite this slight setback, Europe’s markets look set to bounce back this morning after Chinese HSBC manufacturing PMI for October came in slightly higher than expected at 50.9, a seven month high. The Gold price eased off slightly yesterday, coming back down to the support/resistance level around $1332, on news that the second biggest market for the yellow metal has waned slightly. Are we going to see this level turn into support now, giving us a positive trading day today ?

18:25pm  ~  After a lovely day out, I got back here half an hour ago and I’m now going to switch my MT4 trading platform on and watch for any trade opportunities on a few charts.  My primary focus is always on my “Trade With A Day Job” evening beginner’s system but I will also look out for any of the many set-ups with the trendFX or Any-Time systems as well.  My evening system starts at 5pm, but it does not matter if you get to the charts later than that, there are usually opportunities all the way upto the U.S. trading session close at 9pm UK time.

19:10pm  ~  I am now in two separate trade positions.  My first trade was on my Gold chart using an Any-Time strategy, and I have also just got into an evening system position on the S&P500 chart.

19:50pm  ~  I am now out of my evening strategy trade at 20 pips (the normal target level) and my Gold trade is still advancing downwards at a slow but steady pace.

21:10pm  ~  All done on the markets for the evening now,  the U.S. markets are closed so momentum slows down quite considerably ahead of the Asian open.  My Gold trade ended at +25 pips and I also had a 2nd trade on the S&P500 with my evening system which I closed off 10 minutes ago at +10 pips.

Daily Target Reached ?  YES  (+55 pips)        I just traded this evening for a few hours

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