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.
We are stopped out of the Yen for a 7 tick loss.
Brent Oil…any day trader who took my suggestion early this A.M. to trade ( sell) the Brent @ 111.60 with a 25 tick stop, should take 1/2 off now. Take another 25% off on a new low and let the rest ride with a break even ( entry level) stop.
The rest of the day will be a very sloppy time frame trade.
We’ll have a game plan for the currencies on Monday morning.
Until then, Mortimer is turning off the screens.
For Glossary of terms and abbreviations click here.