Taking Stock of our Trading

Weekly Report - 24/12/2018

Looking back and forward

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The week ahead is largely devoid of activity as the Christmas holidays have most of the world closed down. This then is a traditional time for reflection by market traders. The financial and economic press issue their year-end editions with predictions and reflections of events past and future. We as traders look at our trading journal for insights into how successes were exploited as well as scanning the losing propositions to detect avoidable errors. We look at our trading account to align our goals from last year with our performance this year. These important tasks consume time and effort. They are part, and very important ones at that, of the trading business. This time of year is when they are conducted.

The week that was


The world saw some stunning events last week. Begin with the unilateral withdrawal of US forces from Syria, and the consequent withdrawal of General James Mattis from the US administration. The apple cart such that it is in the Middle East, is more unstable than it was a week ago. With the small though salient US force removed from the complex calculus that is Syria, Many now consider the probability of increased Iranian efforts to establish themselves more deeply into Syria. This possibility rattles Israeli nerves, and the market for their currency, the New Israeli Shekel, which gave away 2.74% against the US dollar since the announcement. The Brexit train wreck continues uninterrupted. The EC, confident in the knowledge that the UK Premier will not manage to deliver her government on the terms proposed by the EU to Britain for the divorce, two important stopgap measures that will forestall complete disaster immediately befalling the hapless British on March 29. First, Britain will be able to run freight into the EU without additional paperwork and aircraft from the UK will be able to fly in and out of the EU unhampered.

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The week ahead


Next week holds little in the way of scheduled economic events until Thursday, CB Consumer Confidence (Dec), New Home Sales (Nov), Friday, Pending Home Sales (MoM) (Nov) and Crude Oil Inventories. This however does not mean that the Middle East cannot erupt, nor the US President for that matter. Still the theme this week is reflection, analysis and planning.

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