FT has been trading full time from home for two years, with nothing but four kids and a beach to distract him .
He fills his spare time with weight training and rugby, though more coaching than playing these days.
FT mostly trades the forex markets and although he plays FTSE on occasions his bread and butter market is £$.
He likes to think that his technique is evolving but still hasn’t the temperament or money to back the big calls. He prefers to trade between 1 and 3 times a day, aiming to take regular small gains, but feels part of the evolution is in not dealing if the conditions don’t feel right.
More Winnings From Europe
Huh, this morning’s been as much of an anti-climax as Mr Beckham’s hundredth cap. After last night’s sell-off in the US I was looking forward to a tasty, but subdued, down day. But the FTSE was having none of it, with good results from Compass, Firstgroup, Man Group and LSE outweighing the 50% divy cut by Kingfisher.
FTSE has pushed above its 21-day moving average for the first time this month, though the average is still pointing down confirming the direction of the underlying trend.
Yesterday, I bottled it on my EURUSD trade and missed out on a further massive surge late in the day. Check out yesterday’s blog (Happy Days In Europe) for the full details, but essentially I was left with a £2 long bet in EURUSD at $1.57 and a trailing stop loss at $1.5688. If I’d left everything alone I’d be sitting here now with a grin as wide as Johnny Vegas’s arse.
However, with the erratic US Durable Goods data approaching, I decided to sell £1 at $1.5736, then as the bullish trend seemed to be tailing off I sold my final £1 at $1.5722. I took the view that one in the hand is worth two in the bush (no, that can’t be right) and locked in a total profit of £396 on the trade.
During the afternoon and evening session EURUSD put on another 130 pips but, hey, I’m off to the bank with my winnings.
Yesterday I pointed out 3-month money in the UK was costing banks 5.99% to borrow. That’s up to 6% now, despite Mervyn King’s promise of further action by the Bank of England. Don’t forget US Q4 GDP numbers out at 12.30 (market expects 0.6%).
Watch France beat England at football, or spend the night with Carla Bruni? Good call Mr Sarkozy.
Happy Trading
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