rather than pick out individual stocks to trade, it can often be worthwhile to trade the indices themselves, especially in times of high volatility.

for those so inclined, i attach below charts for FTSE and FTSE 250, though one might equally be tempted to trade Dow or S&P, which is significantly broader in its coverage, or even NASDAQ

for ease of reading, i have attached 1 year and 3 month charts in each instance

Skinny good call on your 6560 short yesterday

Thanks Shortie - I was tempted to add earlier - but didn't - now just watching.

One thing for sure - the perception of the Yanks overseas has been further tarnished.

MT4 is free from hundreds of places. I have the STC in MQL4 if you need it.

Thank you Hilary, I'll spend some time having a look http://docs.mql4.com/
I thought these system required your own programming which is something I've never done.

The US still in talks to re-open and avert a default is starting to make the markets nervous, but there are still no major moves in FX. Yesterday we had a strong USD as the US were talking and it was assumed that a resolution was on the way. This was followed by a weak USD as no decision was made and comments from the White House said we’re far from a deal.

Fitch upped the pressure on the US by stating that it would strip America of its AAA credit rating if they were to default.
Fed’s Fisher also made comments about QE this coming month and due to the Government shutdown and continuing talks on raising the debt limit he sees no QE cuts this month, and he is a very vocal Hawk.

Today’s data announcements start in the UK with the claimant count change and unemployment rate expected at -24.3k and 7.7%. If the data comes in as expected and with no US news until later, this could give cable a lift back above the 1.6000 level which it briefly broke yesterday.

Euro data is to follow with inflation expected to be at 1.1%. If there are no surprises, this may keep the euro subdued due to the outcome of the UK data and maybe a EUR/GBP trade due to uncertainty in the US.

ECB’s Draghi is talking later tonight. Not much is expected with the occasion but it is always worth a listen for any future developments and maybe a view of what is going on in the US and how it will affect the euro.

For info - Draghi is @7pm our time.

Not looking good is it.

Would be a shame if the whole world was thrown back into recession.

Fingers crossed we get some common sense in the next 24 hours.

Just looking at the coding debate above. Very interesting.

Reminds me of my earlier days on the market inter day trading the indicies and forex.

I always found keeping it simple was the best way, although I dabbled with coding and also looked at other codes for indicators on the big Yank site Trade Station.....such and such.

Trouble is with trading systems markets are contionously changing.

no matter what happens in the US life will go on, just off to Tesco's!

it won't happen .... it'll just be the puerile and egotistical power game with a resolution at the last second ..... republican party has surely committed suicide thanks to the few nutters to the right of atilla

Lets hope so Cyners.

Shortie,

The MT4 client terminal comes with all of the standard indicators that you'll ever need. There are also hundreds (if not thousands) of custom indicators which are open source and freely available on the interweb thingie at various different forums.

You only need to understand how to code if you want to design your automated trading system. There's no need to worry too much about that at an early stage if you're just discovering the platform.

The only thing I would say is that you should probably ignore MT5 completely as it applies NFA anti-hedging and FIFO rules which aren't about to be adopted any time soon outside of the US. Stick with MT4.

sticky - the market thinks as I do with pre-market dow showing +100 ..... some of the pals here who are keen shorters will either have had nimble fingers or bloody noses

Cynic live feed, right up to decision or default, keep it open to be in the know and trading cable, Dow etc etc...............

http://www.theguardian.com/world/2013/oct/16/us-debt-limit-brink-shutdown-senate-deal-live?CMP=twt_gu

City A.M.‏@CityAM6s
US default adverted: Boehner said to agree to Democrat plan

http://www.cityam.com/blog/1381931536/us-default-adverted-boehner-said-agree-democrat-plan

better than watching you carp or tench fishing!
many thanks

LOL. Hope they dont go back on their word or the 5 stocks Ive just bought s.it.

Be a case of sling me that rope.

wotcha bort?

Posted Warren Buffett's latest comments on the USA situation on the Talk to Yourself thread for anyone interested.

Those that I flogged. Cyners, all bought back far cheaper. Very nice.