03rd January 2012

FTSE gapped up as expected on IG open at 1AM this morning.

Tested 5680 pre-market open but spiked down to 5650 at 08:05.

08:06 - long FTSE @ 5653.  Stake * 0.4.

Stop = 5623

Target = 5687

Not looking good, FTSE fallen to 5633. Trying to find support here.

Stop adjusted to 5611 and more added.

08:53  - long FTSE @ 5625.5. Stake * 0.4

Stop @ 5611

Targets now 5640 for a recovery trade.

Limits taken off, looks to have some strength. Will hold a bit longer.

Dicking around too much for my liking so closed the lot @5639, and break even.

out now until thus afternoon and possible DOW entry, but tricky to predict where we are going today.
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FTSE carried on down to 5610 so i am happy with the decision i made to exit at break even.

Long again @5628.3. Stake * 0.4.

Stop @ 5606

Target @ 5644

11:14 - target reached for £31.40 profit.
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I'm still retaining a long bias as we approach the Dow open this afternoon.

Dow currently at 12410.

Will wait for an entry price around 12350, and then 12325. Otherwise will not trade as only looking for value entries to trade.

An obvious target is the out of hours high at 12450 which would be a good target price for the trades, if opened.

14:30 - buy orders placed @ 12331 and 12355.  Stake * 0.33 each. Stops at 12295. Targets at 12441.

Unlikely the index will drop so much on open but would give a godo entry point if hit.

Dow has gone parabolic now so have cancelled the orders, nothing traded nothing lost.

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16:46 - taken advantage of a small pullback to 12440 area to try a small long.

Long Dow @ 12449. Stake * 0.33.  Stop @ 12385.  No target yet.

16:56 - added another looking strong again.

Long Dow @ 12450 Stake * 0.33. Stops on both @ 12426. No target yet. Watchin carefully as market seems quite impulsive and could go down quickly.

17:09 - finely poised could go either way so must monitor risk exposure.

Ambitious target of 12503 set for now. Risk reward approx 2/1. Will look to move to break even as soon as practical.

17:16 double bounce off 12433, will it hold? i doubt it....

17:23 third test of support, this is more often than not definitive.

Stop hit at 12425. £-50 loss.  Shame, as i think the Dow is going to come back up soon.



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Gone long again on the Dow @ 12407, expecting a small bounce around here. Stake * 0.33.

Closed @12426.

£19 profit.

been a tough day for little profit and have learned a few things today which i'll discuss at the end of week review.  Could have been a bad day with high exposure to risk so was quite lucky to survive ok.
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