Hi I've been trading the US markets intraday for the past 6 months and after much pain, patience, introspection and study, it feel that it's beginning to work for me. Being from the UK, with not much to do before lunchtime in the UK, and being a glutten for punishment, I have recently decided to use the skills and systems learned for the US market to trade UK stocks and indices prior to US market open. Having traded the fast moving US market, the UK market generally seems to move on a snails pace intraday in comparison. Chart patterns appear to take all day to form and the swings are generally pathetic (barring the odd miracle). How have other traders of the US and UK market adapted to this? Do the same "rules" apply but using different timescales or is a completely different strategy required?
You will have to use cfd so not to pay 1/2% stamp duty and the commisions are higher even using IB. You may be better off looking at european markets. I just wait! Thinking of moving to west coast usa so can trade mornings then go and do some activity in the afternoon.
Hi Just21 West Coast USA sounds like fun! Take your point on European stocks and indices. I've been following the German Dax with special interest on SAP, Siemens and Deutshe Bank and Muenchener Rueckver. All seem to have huge momentum and can move many Euros in one day! I trade European stuff using CFDs to avoid stamp duty so thanks for that. All the best with this crazy market.
If you can find something good to trade in europe then you are in the best timezone because you have the us to trade in the afternoon. So where is the best place to live in europe. My mountain bike magazine says the sierra nevadas, in spain, have the best year round climate in the world.
As far as I know the only place in europe which has constantly warm weather the year round is the canary islands (spain) off the north african coast. mainland spain does get cold in the winter.
Sounds totally sweet. You'd have to get up around 4, but you'd be done by 11. You'd probably be in with the rest of spain being done working by 11am. Do you know what towns are good to live in by the sierra nevadas?? Can you get DSL or cable there??
Sierra Nevada pics - click on photos for galleries: http://usuarios.lycos.es/sierranevad_a/index1.htm
You wouldn't have to get up that early. European bond markets open at 08:00am and stock markets at 9:00am. That is gmt+1. An hour earlier in London.
This thread is old...but FYI, I biked through the Sierra Nevadas a few years ago in January. I can attest to both their beauty, and their cold. I got caught in a snow storm twice! The towns in the mountains were all very provincial, but friendly. Granada and Almeria are the two closest large towns...Granada was also quite chilly in the winter, but Almeria is in a desert and on the coast and apparently very warm and sunny nearly year round. I didn't go that far, but I have heard that's a beautiful and less-touristed part of the Spanish coast and worth checking out.