1st July 2011

i think today will be another up day for the FTSE, albeit with less upside that earlier this week. Looking to stay long today and let the trades run well into the Dow session, where i may add Dow longs.

1 - looking at a FTSE long from open, base stake * 0.6

2 - opened FTSE long 5952.6, stop 5913, target 5994. 0.6 * base stake

3 - FTSE seems to have found support at 5935. Broke out at 5950 and topped up long on backtest. FTSE long 5947.8.. 0.4 * base stake. Target 5994. Stop 5930.

4 - Stop on first long adjusted to 5930.  Total exposure now £125.

5 - Stops at overall breakeven, 5950. No risk trade now, with target at 5994, £220 upside. Will log back in around 1.30 to look at Dow.

6 - closed 0.6 of stake at 5972, £57 profit. Other 0.4 of stake still running.

7 - closed remaining 0.4 of stake at 5970, £44.40 profit.  FTSE struggling to break 5975 convincingly, better to be out with some profits.

8 - morning session completed for £101.40 profit. Rest until Dow around 1.30PM

Dow session:

ftse opened at 5948 today and topped at 5975 (27 points). It has gradually weakened since then.
Expecting Dow to mirror, albeit with slightly more upside than FTSE gave.
Not a clear trending day today so will not go with full stakes.
Some Yankee news out at 2PM so will wait for that in case it changes market direction.
EDIT - US manufacturing data out at 3PM so am not trading until then, too risky.

1 - Long the Dow at 12499, huge spike up after the US mannufacturing data. I think  the Dow will edge upwards through the first half of US trading.
  0.5 * base stake, stop 12427, target 12561

2 - stop at break even. Zero risk.

3 - closed at 12541.8. £67 profit. May go higher but with FTSE at 6000 resistance and DOW at 12550 could be enough for today.

That's all for today. Total profit = £168.40. Good start!


Laptop off, time to watch the tennis!
have a good weekend