Wednesday, 2 May 2007

Day Trading justified...!

Shorted the Dow yesterday as mentioned in my previous daily post at 13105 and closed my CFD position at 13080. Yesterday was a classic example why I personally insist on day trading when trading CFD. Had I been greedy and left my position open, I would have not made the profit which I made. As it happend the Dow hit a daily low of 13042 before the BULLS started their moves to make the Dow finish at 13136 at the close of the market to establish another record high.

The US Future Markets currently showing well ahead of their yesterday's closing prices and with the March Factory Orders which is expected to have increased to 2.1% there will be another day of good trading actions ahead. I shall not open another position until the Factory Orders Figures are out after which time I will assess the situation if I should open a small short position on the Dow for a quick day trade.

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