9:52am - Want to know what an artifically propped up market looks like? 5 minutes after market opened in the US, DJIA/US30 launched from one tweet:
December 15 (16th for us) will be a key date. New tarrifs on China plan to take effect worth well over $100bn. Lots of media discussing Trump's intention to to halt the tarrifs, but I personally don't buy it. I've said it before, trade wars don't just last a few months, or even a year; expect 3+ years of this. I'll be looking to buy puts for XJO or shorting the US index in anticipation of a failed deal. More likely the former as Aussie economic data is far weaker than thet US.
Trading Tip - One day you'll come to a choice: "Do I keep trading, or do I stop?" - 99.9% of people face this question some point in their trading, and it's always early on. Between 12-20% of CFD traders actually make money, so if you plan on making the cut you better put your absolute heart and soul into learning. I suspect a similar or even smaller percentage of small cap ASX traders are consistantly profitable, as there are significantly more traps to learn about and avoid in this market. The only constant amongst the profitable day traders that I've spoken to is that they've almost all had mentors to lean on through their trading careers. Being self taught in this environment is a rarity and highlights an incredible aptitude for patterns recognition and self-dicipline.
