When I say I don't have a crystal ball I mean it. Please don't ask me where the FTSE 100 will be tomorrow or next week, I can't answer this question. The index could be anywhere especially if Draghi opens his mouth.
What I can tell you is that I get it right more often than I get it wrong and my average profit is bigger than my average loss. That's what matters in trading. I have said many times that profitable trading is a game of patience and sound money management. Too many people quit trading because they don't have the patience to wait for the big moves or they don't have the discipline to apply the rules.
I told you 2015 will be a good year. So far so good, we are taking money on a regular basis.
This week we shorted EUR/USD at 1.1370, we risked 165 pips and we made 243 pips. Patience paid and the profit was larger than the potential loss.
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On FTSE 100
With this index you must be patient to succeed. Sometimes nothing happens for days then suddenly, boom!
We made 208 pts in the last month on the FTSE day trading service. Day trading is more difficult because the stop loss is tighter, yet it's possible to make money if you are disciplined.
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Finally, investors should take money off the table before it's too late. My reliable 34-day BTI has given a sell signal on the stock market:
A move above 400 is bearish, however this is not a timing indicator which means the decline will not necessarily occur in the next few days. What this indicator is telling us is that a big decline is coming, the FTSE 100 will be trading significantly lower in the next few months. If you are a medium term investor it's time to get out.
The opposite situation is when the 34-day BTI is below -400 as it was on 20th October 2014. In this case it's bullish. That was a strong signal to buy and as you can see the FTSE 100 rallied strongly in November 2014.
Until next time,