The uncertainty in the markets went up a notch with US failing to agree on an increase to their debt ceiling. The Euro region in any case is buffeted by strong headwinds on a daily basis. Under these circumstances, trading becomes increasingly difficult without an unambiguous system dictating the trades. For a discretionary trader life would have become extremely difficult.

I am long on both my STT and LTT trading systems. I will cut my long positions and go short below 5545 on the STT. The LTT goes short below 5446.

Current Positions: STT Long, LTT Long

Probable Trades: STT: Cut Long and go dhort < 5545

LTT: Cut Long and go short < 5446

Even as I write this note, Nirlon House, the building where our office is situated has caught fire. All of us are safe. But my trades will not go through today as our systems are shut for the time being. Whether this inability to trade will cause a problem, only time will tell. But this is one of the several issues a trader has to face. All the things have to go right to make money. Only one thing has to go wrong to lose it!