Been a while hasn’t it? We were in London all of last week busy with meetings with traders helping us plan our trading center in India. We had a bit of low volume but we were still able to do very well.
The first three months of the year have been incredibly busy that we even haven’t had time to post our 2012 results review or the January or February results (coming shortly).
We are headed to Berlin soon followed by taking the winner of our Jordan contest to Jordan on Wednesday.
Day trading in London is always a treat as one of the elite financial centers of the world.
The first time I stepped foot on Wall Street it was definitely an inspiring moment. The same cannot be said for the financial center in London otherwise known as Canary Wharf.
Its a great complex but nothing compared to Wall Street. Good thing that the numbers from Canary Wharf in London match up to those in London.
The one thing that caused concern was the internet. By traveling through very remote places in Africa, Colombia, and even Brazil, we’ve been very adept at understanding the internet required to day trade.
Whenever we trade the internet requirements are significantly lower as we aren’t teaching and sharing our screen.
When we share our screen to teach classes we need higher upload speeds in order to have a fluid feed. Previous upload speeds required were thought to be .50 Mbps. Here we have an upload speed of a mere .24 Mbps.
What we do have is reliable internet that doesn’t cut out.
One of the reasons we still use the Tradestation is the platform performs much better with unreliable or low internet speeds. We still prefer to use and only support NinjaTrader for the training program as it has many more features than Tradestation.
The difference with the internet speed is the reliability and something called latency. When you are able to count on fast enough internet that is reliable then the speeds can be slower.
Today’s market was absolutely gorgeous. With the disastrous news from Cyprus that all tax payers are going be taking an immediate 6.6% or 9.9% cut on their bank accounts the market rallie.
Funny because we would consider this very bad news for the world not good news.
Lets not digress post on that coming soon. In the meantime read why Singapore is such a great destination to open a foreign bank account. The volume roared and the market continued to peak the entire day.
We ended an excellent live class today early with some great lessons on resistance areas and knowing when to take trades aggressively. The chart below is from our live class this morning. With so much momentum to the upside we used our Fib confluence levels to be able to identify levels where the market should get to.
Here are student charts from today including a trader that is a member of the LTD Project in addition to graduate master traders. The charts also include my own:
Click here to see the complete list of Market Recaps