While the Diary of a Mad Hedge Fund Trader focuses on investment over a one week to six-month time frame, Mad Day Trader, provided by Jim Parker, will exploit money-making opportunities over a brief ten minute to three day window. It is ideally suited for day traders, but can also be used by long-term investors to improve market timing for entry and exit points.
Current Positions
Long AUD/USD 25%?? ? ? ? ?? 94.32 ????? 93.90 Close??????? 96.75
Long FXA 25% ????????????????? 94.31?????? 94.20 Close??????? 96.70
This is a 25% position.
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Today's Working Orders...
SELL?AUD/USD?@ 93.90 OCO 96.70 GTC?"Good Till Canceled"
We're leaving resting sell orders in the Aussie 5 ticks below the tgt.?This means you should have an "OCO" order working to sell @ 93.90 or 96.70 OCO "?One?Cancels the?Other"
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Stocks...
Play in the names that are reporting today if you must trade.
Mattel,BAC,American Express,Ebay IBM are some of the bigger names.
Spu's...need under the mid 1680's to break down.
Bonds...
FX...
Commodities...
Gold...needs above 1300 to mount a rally.
Silver...needs over 22.10 to start turning up.
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General Comments or Valuable Insight
Wait it out today. Trading against the Bots on news bites will
be unrewarding.
Short Term View...
We're in a game of picking the next low for an attempt back to the highs in the U.S. Equity Indices. Right now individual stocks look to be an easier read based off their own technical s.
Go with the flow. Use the 9/30 closes as your macro pivots. Trade the opening ranges and early time frames.
For Glossary of terms and abbreviations click here.