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?? ? ? ? ? ? 94.32 ????? 93.70 Close??????? 95.25/96.75
Long FXA??????????????????? 94.31?????? 93.80 Close??????? 95.15/96.70
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Today's Working Orders...
Sell?1/2?AUD/USD?@ 95.14.
Sell?1/2 FXA @ 95.10.
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Stocks...
Bonds...
FX...
GBP/USD....are testing the 159.40 pivot level. They either bottom right in here or break another 200 points.
USD/CHF...is putting in an ORH day. The Swiss Franc is breaking back to the downside, which is reflective of less fear in the market.
Commodities...
General Comments orValuable Insight
The day will revolve around the FED Notes. Follow the Bonds on the release as the Currencies will likely trade the same way.
The only currency cross I was interested in was EUR/AUD. This has the potential to turn into a bigger move which is why I was looking to leg the spread yesterday.
I initially thought we'd get 1/2 the Aussie sold and then have a free sale in the Euro to leg the spread for an extra 100 points. No love there.
Trade your time frames and opening ranges today.
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.
I don't think the swan dive is over however a rally to 1670 in the Spu's is possible. Trade single stocks on their own technicals.
For Glossary of terms and abbreviations click here.