Monday 10th November - Daily Stock Market review

A difficult start to the week

GDAX

GDAX rose today, but in erratic fashion. Stopped out of last Friday’s trade overnight due to a rise in the futures price for a loss of £220. Entered the Market at 5082, but was stopped out. Went short at 5039 only for the market to rise again above 5082 for a loss of £98. Went long from 5082, but the GDAX then fell back, closing at 5025, causing a loss of £130. Am out of the market, and will see how things fare tomorrow.

Oil

Oil rose this morning, causing me to stop out of my trade from Friday, no loss was incurred though. It rose triggering a trade at $59.58, which went into profit. Moved my stops up in case a reversal took place, which in did, so no big loss on that trade. Market then fell triggering another trade at $58.83, and fell as far as $56.22. Moved stops down to cover the trade. Oil then rose to the close finishing at $59.04, but only incurred a small loss as I’d moved my stop down. A frustrating day.

Dow Jones

Markets rose at the start, but then proceeded to fall. Had a trade triggered at 8859, market fell to 8760, so again moved my stop down to cover the position. Dow then rose, stopping me out for a small loss of £15. Dow continues to stay below the 20 day exponential moving average, but the recent rise on Friday and today’s fall could be the signs of a rally this week. We shall see. Am out of the market and will wait to see if any trades are triggered tomorrow.