Maybe I have been too relaxed…
Now I am back in business
I have been away on my summer hols, but the following message did not reach you on Tuesday.
Here it is again, but since then please realise that UK economic growth has shown signs of slowing, so that has not helped the £ again has the week came to a close.
Also, the U.S. indices seemed to have found support – 11400 for the Dow and 1260 for the S&P500.
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Well, what a two weeks I have had!
Where do I start?
First off, I have taken a loss on the Target account, and to my stupidity (yes cheers) it was quite substantial.
I broke a rule (although it is still virtually a play account) and overexposed myself before I went away and put too much onus on the $. Of course, it waited for me to settle into my holidays before it began a major rally.
It has knocked me back below 10k. I was gutted when I checked my emails over a week ago, but what could be done with a rally like that on the $?
Fortunately I did have other trades on the Dow and S&P running on my other accounts which profited slightly, but the last 2 weeks has been tough, I will not lie.
I will just have to maybe take some calculated risks now and build up again. It will be tough to hit my target amount end of the year, but I would rather miss out on it just, than lose the whole lot.
It will still be a good read figuring out how I will get there.…
I am literally catching up on all my emails as I write this, but still think there is good value on the Dow and S&P in their narrowing ranges as Sept arrives.
The volatile sessions seem to cancel each other out, while the $, could be ready for another rally al the way to 1.82, or maybe a slump back to 1.9. A slump back to 1.9, Imagine me reading that before I went away.
The Surf helped clear my mind, and I now think that the next 2 months will be Index time, while I want to get the target account back up to 30k, and tweak my strike rate for personal clients, who of course got hit by the two $ trades.
I am sorry for them, but also quite sorry for myself. What am I like, eh.
No matter how many trades you have open, you must always remember to have smaller trades on other markets running.
Even if the market takes a hit, it may spread across another, but not as wild, plus you have further margin for error
Today, markets are lower, being helped along by inflationary pressures in the states in the form of the higher than anticipated PPI number.
Sellers are obviously passing on higher costs to consumers for goods and service, and every time the equity markets, (no matter how much this may be priced in) does not like this once confirmed.
I am just settling back now, looking for my next opportunity, but it will most probably be with the S&P500.
Wish me luck in getting back to 20k as quick as poss.
I will update you shortly, be in touch soon
Very Best
Matt $haw
www.fixedoddssuccess.com
