Just enjoy a small santa rally…
Be ready for the slide come New Year!
I will be simple with this message today, as I need sleep before I hit the shops in the hope of a bargain.
Please be careful trading forex next week, as traders will be sparse and the presence of illiquidity will be rife. Wild swings will be seen in the early hours of trading for no apparent reason.
However, for day trading, Fixed Odds trading cable for example, could be very profitable. As just like the markets, lack of action will rule the floor.
For this reason, I may place one small position on cable with a large range, but my focus to earn some Xmas cash, will be ranging the Indices.
Taking into account the holidays, the minimum period for trading will be around 10 days, but with this, you would be able to select a large range with somewhat attractive odds.
Volatility has picked up this last week, than the previous month.
The Ftse, Dow and S&P will take up most of my portfolio from now until the 4th or 5th of Jan. THEN I will take a week’s break from trading, and wait for the main break lower. Even if I have to wait a full month, I will not trade until I see the real break ready to fly!
High barriers for the markets are:
Ftse (
S&P – 1140
Dow (
Wall St
Low barriers are:
Ftse – 5050
S&P – 1065
Dow – 9850
I am gunning for 25-30% gains on each trade around the Festive period.
I already have a High No Touch on the Dow due for expiry, as to a Ftse range tomorrow.
The £/$ should be capped (looking to sell, stop loss if selling now) just above 1.64.
I do see a retest of 1.6, even 1.58 on Cable some point this week.
My last expiring trade has just netted me a good profit on the Ftse100; I am just selling this bet in my portfolio right now.
Two more trades this week, then a 10-day break, which I think I deserve.
I will be back at my desk on the 4th January.
Let’s carry on into 2010 as we concluded 2009
Until the New Year…
Matt $haw
P.S. one last space for personal training. You get 8 Hours Training, 12 months mentoring… Email: fixedoddstrader@aol.com A pot of 10k is needed to do this seriously!
