I wanted to buy copper yesterday, but the trade I wanted to put on had less leverage than the minimum trade size on IG Index — so I didn’t.
I did buy gold and sugar. Gold is correlated with palladium and the AUD, but both trades have moved up since I bought them and it is reasonable to what could become a strong QE-driven trend.
I didn’t buy the equity market. The breakout two days ago was followed by a strong day yesterday, but breakouts are not generally a good signal in this market. I will wait for a re-test, if there is one.
I also didn’t buy soybeans. There is a USDA report on 9 Nov and one of my trading rules is not to trade in advance of these reports. There will be other chances to get in if the trend continues.
I have missed the strengthening of the NZD recently, supported by a tightening bias in the latest RBNZ minutes. I am keeping out of this market now, owing to its correlation with my other trades.