Archive for September, 2012
Day One Trader by John Sussex is the story of one guys story about the Liffe exchange, the characters and then the demise of the open outcry system it all as advancements in technology made it obsolete. It’s a great story and an important part of the financial history in the City of London starting with the opening of the Liffe (London International Financial Futures Exchange) and the open outcry system modelled on the US stock exchanges. The story takes us through the ages as John learn
September 28, 2012
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We were sitting pretty with the breakout of the crude oil trade if you took the trade.. it would have been over 200 points in profit if you had traded it. I had mentioned that if price has moved above the support/resistance line, you should be wary of it's ability to go lower. Today, the market rallied and from the bottom to where it is now, it jumped 300 points. Obviously for anyone who is still holding this trade, it's a tough one as no one never likes to see a huge profit become a loss...
September 27, 2012
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As per yesterdays post, Crude Oil indeed broke through support and headed south. The move was pretty much down all the way until it got around the round number 89.00 when we saw some buyers.. the price has gone up since the low of 88.94 to now 90.14 but the trend is still down for this.
For those who are short, despite the buyers below, so long as the price doesn't go back above support (now resistance) you should be ok. I would move the stop down to 92.00 or so however to lower the risk
September 26, 2012
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