Nick’s Trading Diary – Tuesday 6th November 2018

I am planning to be in front of my screens for most of the day although some pressing errands might curtail my chart watching later this afternoon. Any trades I take will be detailed below:

08:05am:   Nothing to report so far on my collection of 8 favourite charts*

* S&P-500, FTSE-100, DAX-30, Gold, Brent Crude, WTI Crude, CAC-40 and EUR/USD.

09:35am:    Both the UK FTSE-100 and German DAX-30 have triggered short trades so I have gone with the two opportunities although this is not a good idea for new traders as these indices tend to move in generally the same direction so if the price does move in the wrong direction you’ll have two losers instead of just one. They are both Master-The-Trend Strategy-B set-ups with stop losses of 13 pips and 20 pips respectively.

09:55am:    Just taken a quick profit from the DAX-30 position (+46 pips) but left the FTSE position running.

11:00am:    The FTSE-100 price has been struggling to get below 7075 for a while which would not really have given me much of a profit so I decided to wait and see if it broke below this level and in the last few minutes it has dropped to 7063 so I’ve now closed the trade off. This has given me a +27 pip profit  and overall score for the day of +73 pips.

11:10am:   Cycle ride time……

13:45pm:   I have returned from lunch and a quick glance at my collection of charts tells me there’s not much going on so I am switching my screens off and will be returning at the usual time tomorrow morning.

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