As you all know, I’m Max, and I’m Addicted to Trading. This is My Story
I’ve Finished my first part of the day, and it’s only 7am. Now it’s time for the real action – UK my hometown, and US markets opening. If you haven’t read the first part of Trading round the clock series, it’s time for you to check it out!
The hometown wakes up – London!
8am – An hour passes and it’s England on stage! The London markets open with a bang and add more fuel to the downtrend. I can’t help having a little smirk on my face. I spend a couple hours monitoring my positions, but the real action will take place with the open of the U.S. markets so I am just making sure I am not overly exposed to anything when it happens later today.
11am – It’s only 11am but I’m getting hungry. I was going to get lunch with a buddy today but we are both watching the markets in anticipation for French and German consumer data that is going to be released soon. I’m too wired on coffee to cook so I decide to order take out and get it delivered. I didn’t really have time to go to lunch today anyway.
12pm – My positions are doing quite well and I’m feeling generous so I leave the delivery man his best tip of the day and then I get back to the markets. I’m eating Chinese take out watching European markets unfold. Ain’t globalization grand? I’ve got to be ready for the open of the American markets at 1pm. So far I’ve been doing well, with a couple of winners and losers here and there, but the real battle awaits.
The Beast Awakens – Wall Street
1:30pm – I can almost hear the bell on Wall Street! The US markets open and a wave of liquidity and action floods the markets. My indicators are off the charts and its time to get a piece of the action. I place a couple of trades. Swing and miss. I place some more with reasonable risk reward profiles and still no luck. Finally, I catch a good move and it’s the best of the day! I finish positive, with the big winner covering all the little losses and then some.
3pm –Things cool down a bit after the first two hours of the US being online. I sit on my hands and monitoring my indicators, just waiting for some good opportunities. The time passes and the market seems to cool off from all the excitement of the American open that came out today. It’s finally time for England to close up shop. Goodbye England. My indicators show that there is a trade to be taken in a midcap equity, so I initiate a long call position with expiration for the end of the trading day.
The End of the Trading Day Approaches
5pm – I decide to go blow some steam off and take a jog. I mentally go over the trades of the day, seeing what I did well and what needs improvement. I talk to myself about the plan for tomorrow and where I need to readjust my overall portfolio to limit the exposure in certain markets. The people I run past are all giving me funny looks as they realize I’m talking to myself and not into a Bluetooth device.
The Big Fish
7pm – The moment I have been anticipating all day. The Beige report will make or break this trading session for me. I am expecting the data to come out positive for the US dollar and fuel the movement for my current positions. The numbers are released and immediately there is a rise in volatility. The numbers are pro-US dollar strength! The market isn’t reacting the way I thought it would though. The dollar seems to have dipped a bit since the release. Moments later though, a surge of upward momentum floods the market and my position is definitely in the black! Damn it feels good to have my homework and analysis validated with some profit! A job well done.
Time For Bed
8:30pm – Most of my trades expire In-the-Money and some lose money but overall I came out a winner thanks to my accurate analysis of the US Dollar today. I log all my trades in my journal with documentation of my rationale for entering each position. It takes me about an hour to finish the logging. I go brush my teeth and I am basically falling asleep standing up. I crash onto my bed, exhausted. The day was over and I came out victorious. The life of a trader. I must get sleep for tomorrow, the timeless battle between the bulls and bears begins again!
10:15pm – Time for Bed. Zzzzzz.
That’s it folk. Hope you all enjoyed my stories(: You’re all invited to chat with me and other community members on our forums section. CommuniTraders, here I come!