US market is giving up it’s gains from yesterday
Yesterday we saw a tremendous rally on the US front after the Fed cut interest rates 0.75 basis points.
Today, I got home a tad late due to delays with the London Underground system and also due to the time differences, the US market closes at 8pm GMT meaning that I have a hour less trading time.
Trading part time is extremely difficult. Coming home from a full days work to turning on the computer again and staring at the charts. It’s work once again but I do love it. Yes, I get extremely frustrated at times…. having just 1.5 hours of trading isn’t ideal for a variety of reasons. I need to be able to gauge and feel what the market is doing, the pressure of needing to make the trading work and finding opportunity in the limited time window (which can lead to overtrading) and frustration in seeing the days moves have already been taken. In addition, the last 30 mins don’t correspond well with technical analysis as the day traders are looking to get out of their positions.
Anyway, I saw an opportunity today and shorted the market at 131450. I waited for confirmation before doing so. I was considering an entry at 131800 or so which would have yielded a better profit but I guess it’s better to be safe than sorry. I took profit at 131000 (the round number) only to find that the market had momentum and moved a further 25 prices.
I took home +18 which felt nice. I also traded the FTSE this morning and made 60 points too!
