FTSE had a strong morning after an early spike down to take out some stop losses. It found support around 5500 and is consolidating around 5540 as i write.
Placed a long order on the Dow for this afternoon in case of a pullback. It is unlikely to reach the open price but i won't lose any money if not. I do expect a little spike down close to Dow open or soon after.
1 - order Dow long @ 12265. Stop @ 12239. Target @ 12384.
Risk reward = 4.5ish/1
2 - been away for a few days and noticed i was stopped out of this one for 26 points, never mind.
Wednesday, 28 December 2011
Friday, 23 December 2011
23rd December
Ok, lets see if we can get in on an end of year rally. I'm still expecting the FTSE to have a strong last few days of 2011 and possibly rise to 5800ish.
Gone long this morning to try and get in on a rise, stop below mornings lows.
1 - Long FTSE @ 5493.5. Base stake * 0.8.
Stop @ 5471.
2 - stop adjusted to BE, want to be more patient with my trading and learn to build up good runners instead of closing too early.
3 - closed the lot at 5525, couldn't resist taking the 31 points with a decent stake. Had a good day.
Out now until the New Year.
Gone long this morning to try and get in on a rise, stop below mornings lows.
1 - Long FTSE @ 5493.5. Base stake * 0.8.
Stop @ 5471.
2 - stop adjusted to BE, want to be more patient with my trading and learn to build up good runners instead of closing too early.
3 - closed the lot at 5525, couldn't resist taking the 31 points with a decent stake. Had a good day.
Out now until the New Year.
Thursday, 22 December 2011
Thursday 22nd December
1- Long@ 5404. Base stake * 0.4.
Caught a lovely entry price on the downward spike at market open.
Expecting a decent up day today.
2 - closed @5439. Happy with that quick trade, will look later on any pullback.
3 - think the FTSE is looking a bit toppy now. Taking a low stakes short with a tight stop, not convinced it can get an higher without the Dow to help.
Short @ 5451. Stop @ 5458.
4 - lost -7 points.
Caught a lovely entry price on the downward spike at market open.
Expecting a decent up day today.
2 - closed @5439. Happy with that quick trade, will look later on any pullback.
3 - think the FTSE is looking a bit toppy now. Taking a low stakes short with a tight stop, not convinced it can get an higher without the Dow to help.
Short @ 5451. Stop @ 5458.
4 - lost -7 points.
Wednesday, 21 December 2011
Wednesday 21st December
Long the FTSE again today.
I think we are in for another up day.
1 - Long @ 5465, stake * 0.4
2 - Long @ 5457, stake * 0.4
Stops @ 5413.
Target @ 5494
3 - Long @ 5444, stake * 0.2. Max stake now in. Have to be careful here.
4 - closed @ 5471 on the spike up at 10.20. Not sure what caused it but releived to take money there. Max stage with 17 points profit, happy day again.
Will await any pullback on FTSE later this morning or on Dow this afternoon before possible re-entry, otherwise happy to call it a day.
5 - good pullback after the spike on ECB news. Long again @ 5424, max stake * 0.4. I'm expecting FTSE to turn back up to 5450 again before Dow opens, and will layer in more stake if we drop to 5410ish.
6 - stopped out at 5391, -33 points. Not good.
I think we are in for another up day.
1 - Long @ 5465, stake * 0.4
2 - Long @ 5457, stake * 0.4
Stops @ 5413.
Target @ 5494
3 - Long @ 5444, stake * 0.2. Max stake now in. Have to be careful here.
4 - closed @ 5471 on the spike up at 10.20. Not sure what caused it but releived to take money there. Max stage with 17 points profit, happy day again.
Will await any pullback on FTSE later this morning or on Dow this afternoon before possible re-entry, otherwise happy to call it a day.
5 - good pullback after the spike on ECB news. Long again @ 5424, max stake * 0.4. I'm expecting FTSE to turn back up to 5450 again before Dow opens, and will layer in more stake if we drop to 5410ish.
6 - stopped out at 5391, -33 points. Not good.
Tuesday, 20 December 2011
20th December
1 - Long Ftse @ 5343.
max stake. Think we are going for a good up day today.
Got a good entry price near open bell.
Stop @ 5395.
2 - Stop at break even. No risk trade now, looking good.
3 - closed out at @5401, 58 points at max stake, delighted with that one.
may enter the Dow later if there is a pullback.
Small pullbak on the Dow, as often seen around 6PM ish.
Gone long again as in these situations activity picks up again at 7ish, normally in the same direction as the Dow morning session if now big news out.
4 - Long @ 12075. Minimum stakes, stop @ 12063. Only a small chance of success here, but if it works ok might try to build a runner for a few days, after adjusting stop to break even.
5 - out at 12088 for 13 points. Looking a bit toppy now.
Enough for today.
max stake. Think we are going for a good up day today.
Got a good entry price near open bell.
Stop @ 5395.
2 - Stop at break even. No risk trade now, looking good.
3 - closed out at @5401, 58 points at max stake, delighted with that one.
may enter the Dow later if there is a pullback.
Small pullbak on the Dow, as often seen around 6PM ish.
Gone long again as in these situations activity picks up again at 7ish, normally in the same direction as the Dow morning session if now big news out.
4 - Long @ 12075. Minimum stakes, stop @ 12063. Only a small chance of success here, but if it works ok might try to build a runner for a few days, after adjusting stop to break even.
5 - out at 12088 for 13 points. Looking a bit toppy now.
Enough for today.
Tuesday, 13 December 2011
13th December
1 - Long Dow @ 12066.
Minimum stakes for the Christmas rally!
Stop @ 11993
2 - closed @ 12139. Happy to take 73 points.
3 - crude spiked up on rumours Iran have closed the Gulf of Hormuz. Ive missed the main spike but i think it will still retrace slowly. Absolutely critical to use a gauranteed stop in situations like this.
Short Crude @ 9977.
I am not particularly happy with the entry price i've gone in at here, quite a risky trade, and i am breaking my rule of only trading FTSE/DOW!
Stop @10019.
not looking good on this, -28 points down and lots of spikes to near my stop.
out for -50 points +2 for the GS. irrirtating, broke my rule not to trade crude. perhsps one day i will learn.
Daily profit = +21 points.
4 - long the dow @ 12027, large sell off in the last couple of hours, i think 12000 will hold and this could be a decent entry point. Tight stop @ 11990.
Minimum stakes for the Christmas rally!
Stop @ 11993
2 - closed @ 12139. Happy to take 73 points.
3 - crude spiked up on rumours Iran have closed the Gulf of Hormuz. Ive missed the main spike but i think it will still retrace slowly. Absolutely critical to use a gauranteed stop in situations like this.
Short Crude @ 9977.
I am not particularly happy with the entry price i've gone in at here, quite a risky trade, and i am breaking my rule of only trading FTSE/DOW!
Stop @10019.
not looking good on this, -28 points down and lots of spikes to near my stop.
out for -50 points +2 for the GS. irrirtating, broke my rule not to trade crude. perhsps one day i will learn.
Daily profit = +21 points.
4 - long the dow @ 12027, large sell off in the last couple of hours, i think 12000 will hold and this could be a decent entry point. Tight stop @ 11990.
Thursday, 8 December 2011
8th December
Gone long on the Dow at minimum stakes.
Looks a good place for entry to a decent risk/reward trade
Long @ 12077 + Long @12063
Stop @ 12036
out for - 77 points
this is going up, putting my balls on the line and added 2 more @12021
closed at 12094, for +146 points.
Overall profit = 69 points.
That's my trading day for December done with a small profit, will be back in January.
G
Looks a good place for entry to a decent risk/reward trade
Long @ 12077 + Long @12063
Stop @ 12036
out for - 77 points
this is going up, putting my balls on the line and added 2 more @12021
closed at 12094, for +146 points.
Overall profit = 69 points.
That's my trading day for December done with a small profit, will be back in January.
G
Range Resources
Long @ 8.4.
£300 p/p.
Intend to hold until next February or March.
no stop or limit yet.
topped this up with another £200 p/p.
Average now 7.918 @£500 p/p/
£300 p/p.
Intend to hold until next February or March.
no stop or limit yet.
topped this up with another £200 p/p.
Average now 7.918 @£500 p/p/
Sunday, 31 July 2011
Monday 1st August
Hi all,
returned from a short break last week and ready for a bit more market action.
It would take a brave man to forecast price action this week with the US debacle continuing.
The issue for me is that i very much doubt the US will default, and when they announce the latest measure to kick the can down the road the markets will rise sharply. Iexpect the FTSE to be back to 5950 within a day or so of any announcement.
The problem is how to take advantage of it. I know the Government are keen to get a deal done before Asian marrkets open, around midnight our time. If say a deal is done this evening and we don't trade until tomorrow morning we miss some of the potential profits, and i really do think they are easy profits, at least for a couple of days.
So the plan is now (Sunday evening) to keep an eye on the news. If no deal is done by bedtime i'll set some orders to hopefully kick in overnight. Until later....
Eur/Chf gapped up on open,initially a sign that we are risk on again, but has started to drift south again. Dollar looking strong against the other major pairs. Could be more pressure on the indices here, pre-open.
1 - short eur/usd, 1.4365. Stop @ 1.4383. No target, see if we can profit from a flight to the dollar in the Asian session. Base stake * 0.1. Tiny stakes here and a tight stop as i want to avoid losses due to any sudden moves up.
2 - set the following buy order:
Ftse long @ 5675. Base stake * 0.6. Stop 5610. Target 5995.
5-45am - order not hit as FTSE has rocketed.
3 - euro trade stop hit for £-25. Broke one of my rules there, trading a non FTSE/Dow. Should know better.
5-48am. FTSE long at 5890. Base stake * 0.6. Out for most of today so all i can do is go long now even though not the best entry point. Target 5995. FTSE should surge up after 8AM, and be carried up further by the Dow in the PM.
Set a new order of the following, to take advantage of any dips:
Ftse long @ 5879. Base stake * 0.4. Target 5995.
4 - 8PM. Both trades well under water but i am holding for what i think and hope has been the bottom. Further vote imminent in Yankee land. Stops just below todays lows.
Not enjoying this trade. I set stupid stops well off the entry price and exposed myself to undue risk. Can't tolerate having a sleepless night so closed the trade during the US conference at 5805 for a loss of £416.
That has wiped out a condiserable chunk of my good profits since i started trading in July.
learned a big lesson today. Exposed myself to too much risk, was away from trading due to other commitments and not able to monitor the markets so should have limited risk. Poor show and have learned a tough lesson.
No more trading this week, and have liquidated my other longs apart from Range Resources. Have serious worries about the markets now.
Will be back soon, hopefully next week.
returned from a short break last week and ready for a bit more market action.
It would take a brave man to forecast price action this week with the US debacle continuing.
The issue for me is that i very much doubt the US will default, and when they announce the latest measure to kick the can down the road the markets will rise sharply. Iexpect the FTSE to be back to 5950 within a day or so of any announcement.
The problem is how to take advantage of it. I know the Government are keen to get a deal done before Asian marrkets open, around midnight our time. If say a deal is done this evening and we don't trade until tomorrow morning we miss some of the potential profits, and i really do think they are easy profits, at least for a couple of days.
So the plan is now (Sunday evening) to keep an eye on the news. If no deal is done by bedtime i'll set some orders to hopefully kick in overnight. Until later....
Eur/Chf gapped up on open,initially a sign that we are risk on again, but has started to drift south again. Dollar looking strong against the other major pairs. Could be more pressure on the indices here, pre-open.
1 - short eur/usd, 1.4365. Stop @ 1.4383. No target, see if we can profit from a flight to the dollar in the Asian session. Base stake * 0.1. Tiny stakes here and a tight stop as i want to avoid losses due to any sudden moves up.
2 - set the following buy order:
Ftse long @ 5675. Base stake * 0.6. Stop 5610. Target 5995.
5-45am - order not hit as FTSE has rocketed.
3 - euro trade stop hit for £-25. Broke one of my rules there, trading a non FTSE/Dow. Should know better.
5-48am. FTSE long at 5890. Base stake * 0.6. Out for most of today so all i can do is go long now even though not the best entry point. Target 5995. FTSE should surge up after 8AM, and be carried up further by the Dow in the PM.
Set a new order of the following, to take advantage of any dips:
Ftse long @ 5879. Base stake * 0.4. Target 5995.
4 - 8PM. Both trades well under water but i am holding for what i think and hope has been the bottom. Further vote imminent in Yankee land. Stops just below todays lows.
Not enjoying this trade. I set stupid stops well off the entry price and exposed myself to undue risk. Can't tolerate having a sleepless night so closed the trade during the US conference at 5805 for a loss of £416.
That has wiped out a condiserable chunk of my good profits since i started trading in July.
learned a big lesson today. Exposed myself to too much risk, was away from trading due to other commitments and not able to monitor the markets so should have limited risk. Poor show and have learned a tough lesson.
No more trading this week, and have liquidated my other longs apart from Range Resources. Have serious worries about the markets now.
Will be back soon, hopefully next week.
Wednesday, 27 July 2011
Wednesday 27th July
Morning,
another tight range day i think. Looking for an early test of previous support at 5890 ish.
1 - long 5903, base stake * 0.4. Stop 5978
2 - added more at 5895, base stake * 0.4. Stop 5978.
3 - closed 5912. Profit = £52. happy with that it worked out how i expected.
Have to be nimble in these unpreditable markets.
Out and about rest of the week, have a good week all, will be back on Monday.
another tight range day i think. Looking for an early test of previous support at 5890 ish.
1 - long 5903, base stake * 0.4. Stop 5978
2 - added more at 5895, base stake * 0.4. Stop 5978.
3 - closed 5912. Profit = £52. happy with that it worked out how i expected.
Have to be nimble in these unpreditable markets.
Out and about rest of the week, have a good week all, will be back on Monday.
Tuesday, 26 July 2011
Tuesday 27th July
Morning,
UK GDP this morning so could get volatile. No trading until after that.
might look to short BP on the open. Results not as good as market forecast. if there is a spike will short.
1 - long ftse, 5910. Base stake * 1.0. All in.
Target 5945 ish
2 - gone long on BskyB again this morning. £7.28. Would like to see £7.40.
3 - closed 5910.2. £1 profit, LOL!
4 - i think the dow will have a positive afternoon session. gone long the ftse at 5923, base stake * 1.0.
5 - out at 5908. Loss = - 75 quid.
Poor day finished with a total loss of 76 quid.
No more trading this week, i am not enjoying the uncertainty over the US default and it is making trading difficult.
Will be back next week.
UK GDP this morning so could get volatile. No trading until after that.
might look to short BP on the open. Results not as good as market forecast. if there is a spike will short.
1 - long ftse, 5910. Base stake * 1.0. All in.
Target 5945 ish
2 - gone long on BskyB again this morning. £7.28. Would like to see £7.40.
3 - closed 5910.2. £1 profit, LOL!
4 - i think the dow will have a positive afternoon session. gone long the ftse at 5923, base stake * 1.0.
5 - out at 5908. Loss = - 75 quid.
Poor day finished with a total loss of 76 quid.
No more trading this week, i am not enjoying the uncertainty over the US default and it is making trading difficult.
Will be back next week.
Monday, 25 July 2011
Monday 25th July
Tricky day, but fancy a bounce up here.
1 - long at 5932, base stake * 0.4
2 - long again 5924, base stake * 0.4
Targetting 5945. Stop 5909.
3 - stopped out for 75 quid loss.
Dow looking strong.
1- long at 12634 base stake * 0.66
Stop 12580 target 12691
2 closed at 12642, £16 profit. Not liking this. Tempted to be bull to bear..
3 - short Dow at 12639 with gauranteed stop at 12660. Base stake * 0.66.
4 - out at break even
5 - long at 12639. base stake * 0.66. Stopped out for £-60 loss.
6 - short at 12619. base stake * 0.66. Closed for £51 profit.
7 - long at 12600, base stake * 0.66. Closed for £15 profit.
Down day overall, £-55 and quite stressful too, May have a break tomorrow.
1 - long at 5932, base stake * 0.4
2 - long again 5924, base stake * 0.4
Targetting 5945. Stop 5909.
3 - stopped out for 75 quid loss.
Dow looking strong.
1- long at 12634 base stake * 0.66
Stop 12580 target 12691
2 closed at 12642, £16 profit. Not liking this. Tempted to be bull to bear..
3 - short Dow at 12639 with gauranteed stop at 12660. Base stake * 0.66.
4 - out at break even
5 - long at 12639. base stake * 0.66. Stopped out for £-60 loss.
6 - short at 12619. base stake * 0.66. Closed for £51 profit.
7 - long at 12600, base stake * 0.66. Closed for £15 profit.
Down day overall, £-55 and quite stressful too, May have a break tomorrow.
Friday, 22 July 2011
Friday 22nd July
Australia consolidated the gains it made out of hours, whilst Japan, China were quite bullish and added more upside during trading hours.
Expecting a moderately bullish day but will be trading extremes only as want to keep profits from this week in the bank. Will consider long entry point only in pullback, possibly FTSE around 5925. If not then will wait for Dow open.
1 - nice pullback at open, long at 5938, base stake * 0.4
2 - added more at 5930, base stake * 0.4
3 - closed at 5954. Signs of weakness and i wanted to bank the money. Profit = £87.00.
4 - long again smaller stakes at 5942. Basw stake * 0.4.
5 - added another at 5932. Both stops at 5913. Base stake * 0.4
6 - stop hit for loss of £-96.60.
that's enough for today and the week, took a big loss there and want a break. Had a pleasing week overall, now for 48 hour away and come back refreshed next week.
Expecting a moderately bullish day but will be trading extremes only as want to keep profits from this week in the bank. Will consider long entry point only in pullback, possibly FTSE around 5925. If not then will wait for Dow open.
1 - nice pullback at open, long at 5938, base stake * 0.4
2 - added more at 5930, base stake * 0.4
3 - closed at 5954. Signs of weakness and i wanted to bank the money. Profit = £87.00.
4 - long again smaller stakes at 5942. Basw stake * 0.4.
5 - added another at 5932. Both stops at 5913. Base stake * 0.4
6 - stop hit for loss of £-96.60.
that's enough for today and the week, took a big loss there and want a break. Had a pleasing week overall, now for 48 hour away and come back refreshed next week.
Thursday, 21 July 2011
Thursday 21st July
Another bullish morning,
1 long ftse @ 5861. Base stake * 0.4
2 added another @ 5843, base stake * 0.2
3 added another @ 5827. Base stake * 0.4
was perilously close to hitting my stop here, got average open of 5845 so some way to get back to break even. Have to monitor carefully.
4 - stop adjusted to break even. Been extremely lucky this morning, a nats chuff off a big loss and now in a decent position. Could be a good afternoon if the Dow carries on this groove and takes the FTSE higher.
5 - closed 0.4 of trade at 5877, for £97 profit (Cheers for Advice Spanky, LOL!). Rest at BE. Hoping Dow will take us much higher.
6 - averaged back in on the Dow dip on open @ 5875. base stake * 0.4. Now at full stake again (sorry spanky) and i think we are going up.
7 - closed the lot at 5905 for £277 profit.
Closed a long BSky B for £42.00 profit.
That's defnitely it for today. The Dow could go a lot higher but i don't want to risk anything. I was extremely lucky today and was 2 FTSE points from taking a heavy loss.
Total profit (including Sky long) =£416.
Ok, i lied. I can't miss out on this, the Doow is consolidating and i confident it will push up again.
1 - Long Dow 12692, base stake * 0.66
2 - stop at break even, we have lift off!
3 - closed at 12740. £96 profit.
1 long ftse @ 5861. Base stake * 0.4
2 added another @ 5843, base stake * 0.2
3 added another @ 5827. Base stake * 0.4
was perilously close to hitting my stop here, got average open of 5845 so some way to get back to break even. Have to monitor carefully.
4 - stop adjusted to break even. Been extremely lucky this morning, a nats chuff off a big loss and now in a decent position. Could be a good afternoon if the Dow carries on this groove and takes the FTSE higher.
5 - closed 0.4 of trade at 5877, for £97 profit (Cheers for Advice Spanky, LOL!). Rest at BE. Hoping Dow will take us much higher.
6 - averaged back in on the Dow dip on open @ 5875. base stake * 0.4. Now at full stake again (sorry spanky) and i think we are going up.
7 - closed the lot at 5905 for £277 profit.
Closed a long BSky B for £42.00 profit.
That's defnitely it for today. The Dow could go a lot higher but i don't want to risk anything. I was extremely lucky today and was 2 FTSE points from taking a heavy loss.
Total profit (including Sky long) =£416.
Ok, i lied. I can't miss out on this, the Doow is consolidating and i confident it will push up again.
1 - Long Dow 12692, base stake * 0.66
2 - stop at break even, we have lift off!
3 - closed at 12740. £96 profit.
Wednesday, 20 July 2011
Wednesday 20th July
Looks like a bullish morning for Europe, after the comments made by Obama late in yesterdays Dow session.
1 - long at 5819. Base stake * 0.4. Will add more if there are any dips down to 5805 area.
2 - added more, base stake * 0.4 at 5809.
3 - half taken at 5851. £83 profit. Other half at break even.
still running the half long. Think i will hold through the Dow session and not trade the Dow today.
1 - he who dares. Long Dow 12575. Base stake 0.66. I may regret this but think the Dow will have one more surge up today.
2 - added one more Dow at 12565, Base stake * 0.33. All in now. Will have to watch closely and exit on first sign of weakness to preserve this mornings profits.
3 - been out and about this evening. FTSE ajusted stop at 5838 hit for £56.60 profit.
Dow adjusted stop hit at 12554 for loss of £-53.50.
Hugely dissapointing end to the day. Had set a dow limit of 12615 and missed it by 15 points. Could have been another £100 winner but turned into a bad loser. Never mind, we can;t be in front of the computer all hours.
Total profit today = £85.10.
Try again tomorrow, although unsure about market direction now.
1 - long at 5819. Base stake * 0.4. Will add more if there are any dips down to 5805 area.
2 - added more, base stake * 0.4 at 5809.
3 - half taken at 5851. £83 profit. Other half at break even.
still running the half long. Think i will hold through the Dow session and not trade the Dow today.
1 - he who dares. Long Dow 12575. Base stake 0.66. I may regret this but think the Dow will have one more surge up today.
2 - added one more Dow at 12565, Base stake * 0.33. All in now. Will have to watch closely and exit on first sign of weakness to preserve this mornings profits.
3 - been out and about this evening. FTSE ajusted stop at 5838 hit for £56.60 profit.
Dow adjusted stop hit at 12554 for loss of £-53.50.
Hugely dissapointing end to the day. Had set a dow limit of 12615 and missed it by 15 points. Could have been another £100 winner but turned into a bad loser. Never mind, we can;t be in front of the computer all hours.
Total profit today = £85.10.
Try again tomorrow, although unsure about market direction now.
Friday, 15 July 2011
Friday 15th July
Ok, Asia quite bullish after the drop in US yesterday evening.
Can't see much too cause the FTSE to break 5800 today at least so could be a short term rally.
Remember the results of the stress tests are out at 5PM so it will be interesting to see how the markets respond to those. Have to be out of any positions well before then.
1 - long ftse 5822.8. Base stake * 0.4. Stop 5973.
5804 looks strong support, third bounce off it now. I hope there is not a fourth....
2 - added more at 5820. Base stake * 0.4. Stop 5973
3 - closed all longs at 5845. £93 profit.
Wait to have a look at Dow later today.
waiting for a pullback on Dow before long entry. 12540 ish would be nice.
1 - long at 12450. base stake * 0.66. Godo drop after the 2.55PM news. Still bullish, targetting 12540.
2 - closed at 12422. £-56 loss, shame. Could have taken some of the table straight after the news but got greedy.
Can't see much too cause the FTSE to break 5800 today at least so could be a short term rally.
Remember the results of the stress tests are out at 5PM so it will be interesting to see how the markets respond to those. Have to be out of any positions well before then.
1 - long ftse 5822.8. Base stake * 0.4. Stop 5973.
5804 looks strong support, third bounce off it now. I hope there is not a fourth....
2 - added more at 5820. Base stake * 0.4. Stop 5973
3 - closed all longs at 5845. £93 profit.
Wait to have a look at Dow later today.
waiting for a pullback on Dow before long entry. 12540 ish would be nice.
1 - long at 12450. base stake * 0.66. Godo drop after the 2.55PM news. Still bullish, targetting 12540.
2 - closed at 12422. £-56 loss, shame. Could have taken some of the table straight after the news but got greedy.
Thursday, 14 July 2011
October Gold Put
A chap on the III forum highlighted this low risk, but long shot trade on gold.
The price has rocketed in the past few days due to dollar pressure and concerns about US default.
You can buy an October Put on Gold 1360 at 1.3. The binary is on a scale of 0 - 100, and as i have gone long the maximum i can lose is 1.9 * stake, whilst the upside is 98.1.
So if gold falls at any time the binary will lengthen as the chance of it hitting 1360 in October lengthen.
Admittedly it's pretty unlikely to fall to that level and give you the full 100 win but any decent weakness will see the odds come out and you can make a profit.
It's a low risk way of shorting gold.
October 1360 Gold Put, Long at £25.
Risk = £47.50
Max reward = £2452 LOL!
Cheers
The price has rocketed in the past few days due to dollar pressure and concerns about US default.
You can buy an October Put on Gold 1360 at 1.3. The binary is on a scale of 0 - 100, and as i have gone long the maximum i can lose is 1.9 * stake, whilst the upside is 98.1.
So if gold falls at any time the binary will lengthen as the chance of it hitting 1360 in October lengthen.
Admittedly it's pretty unlikely to fall to that level and give you the full 100 win but any decent weakness will see the odds come out and you can make a profit.
It's a low risk way of shorting gold.
October 1360 Gold Put, Long at £25.
Risk = £47.50
Max reward = £2452 LOL!
Cheers
Wednesday, 13 July 2011
Thursday 14th July
Wow, what a flash crash, just logged on at 10Pm and the Dow tanked 100 points in 1 minute.
Caught a long at the bottom, with gauranteed stop, important in these volatile markets. Extra 3 points on the spread but worth it.
1 - long Dow 12424, stop 12389, + 3 points for gauranteed stop. No target, will run overnight.
2 - sold out for 4 points, £4 profit, not d1cking around here as Moodys have threatened to downgrade US credit rating. This could be nasty.
3 - long Ftse 5857. Base stake * 0.4. Target 6010. Medium term hold.
4 - added more, base stake * 0.4 at 5851. Average now 5854, base stake * 0.8. May take half off the table later in the afternoon and leave the other half to run through Friday.
5 - half taken at 5873 for £33 profit. Other half still running.
May look to buy into Dow if there is a pullback this afternoon.
1 - closed the FTSE other half at 5879 for £50 profit. £83 total, pleased with that. Bernanke is holding a news conference at 3PM, not willing to hold these longs as expecting more volatility. May look to buy on any dips again.
2 - intererting, looking toppy and heavy, shorted base stake * 0.4 at 5878.
3 - stop loss at beak even now, risky trade with Helicopter Ben speaking.
4 - adjusted stop loss to 5862, locking in £32 profit.
Markets looking very weak, you have to wonder what is keeping them up now. Extremely volatile as well, could be a sign a major top is in. Be careful.
5 - adjusted stop loss to 5822, locking in £112 profit.
6 - stop hit for £112 profit.
That's enough today, read the markets really well and been nimble from bull to bear as required.
Closing out now. Profit today (including the loss on Yell long) = £196
Caught a long at the bottom, with gauranteed stop, important in these volatile markets. Extra 3 points on the spread but worth it.
1 - long Dow 12424, stop 12389, + 3 points for gauranteed stop. No target, will run overnight.
2 - sold out for 4 points, £4 profit, not d1cking around here as Moodys have threatened to downgrade US credit rating. This could be nasty.
3 - long Ftse 5857. Base stake * 0.4. Target 6010. Medium term hold.
4 - added more, base stake * 0.4 at 5851. Average now 5854, base stake * 0.8. May take half off the table later in the afternoon and leave the other half to run through Friday.
5 - half taken at 5873 for £33 profit. Other half still running.
May look to buy into Dow if there is a pullback this afternoon.
1 - closed the FTSE other half at 5879 for £50 profit. £83 total, pleased with that. Bernanke is holding a news conference at 3PM, not willing to hold these longs as expecting more volatility. May look to buy on any dips again.
2 - intererting, looking toppy and heavy, shorted base stake * 0.4 at 5878.
3 - stop loss at beak even now, risky trade with Helicopter Ben speaking.
4 - adjusted stop loss to 5862, locking in £32 profit.
Markets looking very weak, you have to wonder what is keeping them up now. Extremely volatile as well, could be a sign a major top is in. Be careful.
5 - adjusted stop loss to 5822, locking in £112 profit.
6 - stop hit for £112 profit.
That's enough today, read the markets really well and been nimble from bull to bear as required.
Closing out now. Profit today (including the loss on Yell long) = £196
Wednesday 13th July
Think we are in for a weak bullish day. Hoping to get a good price on the FTSE for a long and hold until mid-morning. Markets are very volatile at present with Italy, US debt ceiling and talk of Qe3, so prefer to be nimble and get out positions as soon as i have met targets.
1 - long base stake * 0.8 at 5870. Stop 5710, target 5941
2 - closed at 5871, not happy with it. £5 profit LOL.
3 - long at 5874. base stake * 0.4
4 - added more at 5876. base stake * 0.4
5 - closed at 5876 break even
Was hugely under water on the long thanks to poor management and having to go out.
Extremely lucky to get out at break even.
Feel like i am trading on emotions a bit today so no more trades today, need to step back until tomorrow and revert to minimum stakes.
Very, very lucky, must improve management and control emotions better.
Until tomorrow...
1 - long base stake * 0.8 at 5870. Stop 5710, target 5941
2 - closed at 5871, not happy with it. £5 profit LOL.
3 - long at 5874. base stake * 0.4
4 - added more at 5876. base stake * 0.4
5 - closed at 5876 break even
Was hugely under water on the long thanks to poor management and having to go out.
Extremely lucky to get out at break even.
Feel like i am trading on emotions a bit today so no more trades today, need to step back until tomorrow and revert to minimum stakes.
Very, very lucky, must improve management and control emotions better.
Until tomorrow...
Tuesday, 12 July 2011
Yell
Hoping to tap into a short term appetite for the share tomorrow and Thursday. Rumours of a Microsoft tie up.
1 Long at 10.81 (September contract)@ £20 per point. Target 14p.
2 closed this and taken a hit of £-37. Poor entry point, after a few days of SP increase, and so close to the news announcement.
1 Long at 10.81 (September contract)@ £20 per point. Target 14p.
2 closed this and taken a hit of £-37. Poor entry point, after a few days of SP increase, and so close to the news announcement.
Monday, 11 July 2011
Tuesday 12th july
Set the ball rolling early for tomorrow.
A large spike up on alcoa earnings which I think will retrace overnight and early tomorrow.
1 - With this in mind shorted the Dow @12540, small stakes base *0.33 no stop or limit yet.
2 - markets are looking nasty now, awful session overnight. Keeping the Dow short open and also shorted FTSE at 5874 base stake * 0.4. No stops or targets yet, will monitor.
3 - closed at 5843. £67 profit.
4 - shorted again 5854. Base stake * 0.4.
5 - closed 5800. £107 profit.
6 - closed the Dow short at 12477. 67 points and £67 profit.
That is enough for the morning. May look for a further trade in Dow session.
Wow, what a rise on the indices, hard to forecast which way we are heading but i think there should be a brief pullback leading up to Dow open.
1 - short Dow 12538, base stake * 0.33
2 - closed at 12509, 29 points and £29 profit.
3 - long 12506. Base stake * 0.33. Targeting 12540 ish . Stop 25 points away.
4 - added more long at 12523. Base stake * 0.66. Looking bullish to me. Now at full stake on Dow. Average open 12518. Stop 12510. Tempted to leave into close of Dow but given larger stakes will keep an eye on.
5 - stop hit for £-33 loss.
Had enough for today. £237 profit. Been a good day and been lucky too!
A large spike up on alcoa earnings which I think will retrace overnight and early tomorrow.
1 - With this in mind shorted the Dow @12540, small stakes base *0.33 no stop or limit yet.
2 - markets are looking nasty now, awful session overnight. Keeping the Dow short open and also shorted FTSE at 5874 base stake * 0.4. No stops or targets yet, will monitor.
3 - closed at 5843. £67 profit.
4 - shorted again 5854. Base stake * 0.4.
5 - closed 5800. £107 profit.
6 - closed the Dow short at 12477. 67 points and £67 profit.
That is enough for the morning. May look for a further trade in Dow session.
Wow, what a rise on the indices, hard to forecast which way we are heading but i think there should be a brief pullback leading up to Dow open.
1 - short Dow 12538, base stake * 0.33
2 - closed at 12509, 29 points and £29 profit.
3 - long 12506. Base stake * 0.33. Targeting 12540 ish . Stop 25 points away.
4 - added more long at 12523. Base stake * 0.66. Looking bullish to me. Now at full stake on Dow. Average open 12518. Stop 12510. Tempted to leave into close of Dow but given larger stakes will keep an eye on.
5 - stop hit for £-33 loss.
Had enough for today. £237 profit. Been a good day and been lucky too!
11th July
Morning,
FTSE had been around 5970 pre-open, then spiked to 5999 on open.
1 - short FTSE 5996. Base stake * 0.4
2 - stop at break even, good start, looking to close around 5960.
3 - closed half at 5975. £20 profit. Remainer at break even stop, with target 5961.
4 - closed other half af 5980. £15 profit.
£35 profit total this morning. WIll have another look this afternoon for Dow session.
5 - decent long opportunity with modest targets. FTSE broke back through 5968 so opened a long at 5972. Base stake * 0.4. Target 5980.
6 - closed at 5961.5. £-12.80 loss.
Surprising how well the FTSE is holding up considering DAX, Euro well down.
Looks like we are in for a big down day, looking for a good shorting opportunity on the Dow
1 - short dow 12540. base stake * 0.66.
2 - closed at 12512. profit = £56.
3 - long at 12510. could have hit the bottom for today, US earnings season imminent. Base stake * 0.33. Stop 12472.
4 - added another 0.33 * base stake at 12490. all stops at 12473. Could take a bit of a hit here, but worth a punt at this support level.
Come on Dow! This could go either way, need a convincing break of 12525 to set up a rally into close. Alcoa results after the bell, could be volatile.
Moved stop to 12459.
5 - closed all dow longs at 12500. Break even.
been a long day. Total profit = £78
FTSE had been around 5970 pre-open, then spiked to 5999 on open.
1 - short FTSE 5996. Base stake * 0.4
2 - stop at break even, good start, looking to close around 5960.
3 - closed half at 5975. £20 profit. Remainer at break even stop, with target 5961.
4 - closed other half af 5980. £15 profit.
£35 profit total this morning. WIll have another look this afternoon for Dow session.
5 - decent long opportunity with modest targets. FTSE broke back through 5968 so opened a long at 5972. Base stake * 0.4. Target 5980.
6 - closed at 5961.5. £-12.80 loss.
Surprising how well the FTSE is holding up considering DAX, Euro well down.
Looks like we are in for a big down day, looking for a good shorting opportunity on the Dow
1 - short dow 12540. base stake * 0.66.
2 - closed at 12512. profit = £56.
3 - long at 12510. could have hit the bottom for today, US earnings season imminent. Base stake * 0.33. Stop 12472.
4 - added another 0.33 * base stake at 12490. all stops at 12473. Could take a bit of a hit here, but worth a punt at this support level.
Come on Dow! This could go either way, need a convincing break of 12525 to set up a rally into close. Alcoa results after the bell, could be volatile.
Moved stop to 12459.
5 - closed all dow longs at 12500. Break even.
been a long day. Total profit = £78
Sunday, 10 July 2011
Week beginning 11th July
I think this week is likely to be a week of consolidation in a fierce uptrend, and we could well have a small pullback on the indices, as sometimes required to allow further gains.
I don't see a considerable amount of upside and i will start to short the FTSE if we see 6060 again. I think we are likely to trade sideways for summer, perhaps 6150 to 5900 and i will long or short accordingly unless the world changes.
So the plan this week is to short into any rallies.
With that in mind i've set a short order 6060, perhaps it will get there overnight or early in the FTSE session.
Order = short at 6060, 0.6 * base stake
I don't see a considerable amount of upside and i will start to short the FTSE if we see 6060 again. I think we are likely to trade sideways for summer, perhaps 6150 to 5900 and i will long or short accordingly unless the world changes.
So the plan this week is to short into any rallies.
With that in mind i've set a short order 6060, perhaps it will get there overnight or early in the FTSE session.
Order = short at 6060, 0.6 * base stake
Saturday, 9 July 2011
Week ending 8th July
Well that was quite a difficult week for trading and i feel quite pleased to come out with a small loss of around £-50.
The uptrend continuted in force, even shrugging off the poor non-farm payroll figures on Friday to finish strongly.
It's hard to say what will happen next week but you wouldn't like to bet against further gains, even though we are now well into areas of heavy resistance for the Dow and FTSE in particular.
A mixed week in some respects. The positives were limiting myself to trading only FTSE in the morning then Dow in the afternoon. I managed to retain my discipline throughout the week apart from one occasion where i was then punished.
I think i also had a bit of bad luck. On Wednesday i made a big loss but my FTSE stop was just taken out by 1 point, if it had survived a loss would have become a decent winner. Sometimes you need luck.
On that day i had the chance to close or reduce exposure in the trade, but was not decisive enough. The alarm bells were ringing to me but for some reason i did not follow my head, and left the trade open.
I did allow my maximum daily loss to be broken as well, which is a worry and must not be allowed to happen again.
The other area i need to improve is to let my profits run. I was pleased to bank some gains on Thursday after the horrors of Wednesday but i felt deep down there was more to come. I could have at least left some of the long to run.
Lets come back from Monday, after a rest, and improve focus, and hopefully have a winning week.
Cumulative profit since 1st July = £117.
The uptrend continuted in force, even shrugging off the poor non-farm payroll figures on Friday to finish strongly.
It's hard to say what will happen next week but you wouldn't like to bet against further gains, even though we are now well into areas of heavy resistance for the Dow and FTSE in particular.
A mixed week in some respects. The positives were limiting myself to trading only FTSE in the morning then Dow in the afternoon. I managed to retain my discipline throughout the week apart from one occasion where i was then punished.
I think i also had a bit of bad luck. On Wednesday i made a big loss but my FTSE stop was just taken out by 1 point, if it had survived a loss would have become a decent winner. Sometimes you need luck.
On that day i had the chance to close or reduce exposure in the trade, but was not decisive enough. The alarm bells were ringing to me but for some reason i did not follow my head, and left the trade open.
I did allow my maximum daily loss to be broken as well, which is a worry and must not be allowed to happen again.
The other area i need to improve is to let my profits run. I was pleased to bank some gains on Thursday after the horrors of Wednesday but i felt deep down there was more to come. I could have at least left some of the long to run.
Lets come back from Monday, after a rest, and improve focus, and hopefully have a winning week.
Cumulative profit since 1st July = £117.
Friday, 8 July 2011
Friday 8th July
morning,
looking to go long again but not much value at current price.
hoping for a pullback on market open to 6060/6065 where may long from.
1 - didn't have to wait long, wow. Big drop on market open. Long at 6065.0. Base stake * 0.4 Will monitor this morning so no stops or targets yet.
2 - added more at 6054. Base stake *0 .4.
3 - both trades have stop at 6041. target 6095.
4 - stop adjusted to 6048
5 - stopped out at 6048, £-48 loss.
That's me done for the week, see you on Monday.
looking to go long again but not much value at current price.
hoping for a pullback on market open to 6060/6065 where may long from.
1 - didn't have to wait long, wow. Big drop on market open. Long at 6065.0. Base stake * 0.4 Will monitor this morning so no stops or targets yet.
2 - added more at 6054. Base stake *0 .4.
3 - both trades have stop at 6041. target 6095.
4 - stop adjusted to 6048
5 - stopped out at 6048, £-48 loss.
That's me done for the week, see you on Monday.
Thursday, 7 July 2011
Thursday 7th July
Morning,
Went long last night last night just after Dow close on a dip.
1 Opened up FTSE long at 6018, base stake * 0.8.
Think we are in a consolidation period before another burst up soon, hopefully today.
However there is lots of overhead resistance betweeen here and 6120 ish, so i might take profits (if any, LOL) quite quickly
2 closed this at 6026. £32 profit. US jobs news out at 12:30PM so don't want to risk a spike in either direction. I had set a limit for this trade overnight at 6040 and it missed by a whisker, shame.
Will look at Dow later for a possible trade.
1 - Long at 12685. Base stake * 1. Think there is more upside to come, even after the ADP results spiked up. modest targets around 12730.
2 - Closed the whole lot for £35 profit. Want to bank some cash today after the fiasco yesterday.
Will look for a short entry later in day.
3 - Short at 12709. Small stakes, base * 0.3. Modest targets.
No direction, so closed at 12705, for £4 profit, woooo!
4 - Long again at 12702. Lots of scalping opportunities here. Gone for base stake * 1
5 - closed this long at 12731, for £87 profit.
Market is going bonkers, is there any end to this bull run!
Had a good day but blew £20 profit trying a cheeky long on the Dow before close. Left a sour taste in the mouth, must keep DISCIPLINE. Discipline 007, discipline.
Good day overall though, and made back the losses from yesterday. Total profit = £138.
Tomorrow should be interesting as non farm payrolls in the US. How high can the markets go? Will be volatile. Might take a FTSE position in morning then sell before news, or might even wait until after news into the Dow session.
Not convinced in the rally though. Good news is still being sold off quickly, look at CAZA today, up 25% on news then back to open price. Risk on has not returned to the AIM yet.
Good night
Went long last night last night just after Dow close on a dip.
1 Opened up FTSE long at 6018, base stake * 0.8.
Think we are in a consolidation period before another burst up soon, hopefully today.
However there is lots of overhead resistance betweeen here and 6120 ish, so i might take profits (if any, LOL) quite quickly
2 closed this at 6026. £32 profit. US jobs news out at 12:30PM so don't want to risk a spike in either direction. I had set a limit for this trade overnight at 6040 and it missed by a whisker, shame.
Will look at Dow later for a possible trade.
1 - Long at 12685. Base stake * 1. Think there is more upside to come, even after the ADP results spiked up. modest targets around 12730.
2 - Closed the whole lot for £35 profit. Want to bank some cash today after the fiasco yesterday.
Will look for a short entry later in day.
3 - Short at 12709. Small stakes, base * 0.3. Modest targets.
No direction, so closed at 12705, for £4 profit, woooo!
4 - Long again at 12702. Lots of scalping opportunities here. Gone for base stake * 1
5 - closed this long at 12731, for £87 profit.
Market is going bonkers, is there any end to this bull run!
Had a good day but blew £20 profit trying a cheeky long on the Dow before close. Left a sour taste in the mouth, must keep DISCIPLINE. Discipline 007, discipline.
Good day overall though, and made back the losses from yesterday. Total profit = £138.
Tomorrow should be interesting as non farm payrolls in the US. How high can the markets go? Will be volatile. Might take a FTSE position in morning then sell before news, or might even wait until after news into the Dow session.
Not convinced in the rally though. Good news is still being sold off quickly, look at CAZA today, up 25% on news then back to open price. Risk on has not returned to the AIM yet.
Good night
Wednesday, 6 July 2011
Wednesday 6th July
I'm still keeping a long bias on the FTSE. although there is heavy resistance now in the 6050-6100 zone which may lead to a slow grind up to new highs, as opposed to the parabolic rises of last week.
FTSE first support is 5975, with more support around 5950.
1- Long 6027. Stop 5970. No target yet. Base stake *0.4
Support at 5970 appears to be holding, but this trade is well underwater now. Every chance the US will take it further down at market open, probably to the gap at 5965..
Had a chance to close this at 6002 but didn't, what a mistake.
2 - stop hit at 5973, for £-110 loss. Bad trade and poor management.
Will look to Dow later for a short opportunity.
1 - Short dow 12550, no stop or limit yet. Base stake * 0.33. Will look to add more if Dow spikes in first 15 minutes.
2 - Added at 12586. Base stake * 0.33.
Closed these trades at 12599, the US has really thrown me this afternoon. Hong Kong, UK were quite weak, bad news from Portugla but the Dow shrugs it off! £-57 loss.
Poor day overall down £-167. May not trade tomorrow unless clear market direction.
FTSE first support is 5975, with more support around 5950.
1- Long 6027. Stop 5970. No target yet. Base stake *0.4
Support at 5970 appears to be holding, but this trade is well underwater now. Every chance the US will take it further down at market open, probably to the gap at 5965..
Had a chance to close this at 6002 but didn't, what a mistake.
2 - stop hit at 5973, for £-110 loss. Bad trade and poor management.
Will look to Dow later for a short opportunity.
1 - Short dow 12550, no stop or limit yet. Base stake * 0.33. Will look to add more if Dow spikes in first 15 minutes.
2 - Added at 12586. Base stake * 0.33.
Closed these trades at 12599, the US has really thrown me this afternoon. Hong Kong, UK were quite weak, bad news from Portugla but the Dow shrugs it off! £-57 loss.
Poor day overall down £-167. May not trade tomorrow unless clear market direction.
Tuesday, 5 July 2011
Tuesday 5th July
Still keeping a long bias on the markets but looking for a value entry.
May enter the FTSE with minimum stakes then top up on any weakness in the first hour of trading.
1 - Long 6012. Stop 5975. Stake * 0.4. No target yet, will see how the session pans out.
2 - Added another long at 6023. Stop 5975. Stake * 0.4.
FTSE struggling to break 6030. This could be the top, at least unti US open later today.
3 - closed all longs at 6022.3. Not confident there is any more upside this morning. £22 profit.
Afternoon sesssion:
FTSE has not been able to brek 6030 and looks quite weak now. But we recall this was the situation last Friday when it could not conqeur 5975, only for the Dow to take it through in the afternoon.
I'm not clear how this will pan out for now so i am planning to wait for the Dow open at 2.30PM and give it 30 minutes to establish direction.
I am inclined to short from 12610-12620 or long from 12510.
1 - Short Dow, 12581. Stop at 12608. Not sure of target yet. Set stop above high of day so far. Dow has made lower lows and lower highs intraday, this will be ended if 12603 breached. I can see possible downside to 12525 ish.
Minimum stake for Dow. Base stake * 0.33.
2 - Stop now at break even. No risk trade.
3 - closed at 12577 for 4 points, £4 profit, wooo!
4 - long 12543, 0.33 * base stake, could go a bit lower so will phase in longs if it drops, at 12525, 12510. Stop at 12490
5 - stop at break even, limit at 12581
6 - limit hit for 38 points, £38 quid profit.
That's enough today, been a long day and difficult. Profit = £64.
May enter the FTSE with minimum stakes then top up on any weakness in the first hour of trading.
1 - Long 6012. Stop 5975. Stake * 0.4. No target yet, will see how the session pans out.
2 - Added another long at 6023. Stop 5975. Stake * 0.4.
FTSE struggling to break 6030. This could be the top, at least unti US open later today.
3 - closed all longs at 6022.3. Not confident there is any more upside this morning. £22 profit.
Afternoon sesssion:
FTSE has not been able to brek 6030 and looks quite weak now. But we recall this was the situation last Friday when it could not conqeur 5975, only for the Dow to take it through in the afternoon.
I'm not clear how this will pan out for now so i am planning to wait for the Dow open at 2.30PM and give it 30 minutes to establish direction.
I am inclined to short from 12610-12620 or long from 12510.
1 - Short Dow, 12581. Stop at 12608. Not sure of target yet. Set stop above high of day so far. Dow has made lower lows and lower highs intraday, this will be ended if 12603 breached. I can see possible downside to 12525 ish.
Minimum stake for Dow. Base stake * 0.33.
2 - Stop now at break even. No risk trade.
3 - closed at 12577 for 4 points, £4 profit, wooo!
4 - long 12543, 0.33 * base stake, could go a bit lower so will phase in longs if it drops, at 12525, 12510. Stop at 12490
5 - stop at break even, limit at 12581
6 - limit hit for 38 points, £38 quid profit.
That's enough today, been a long day and difficult. Profit = £64.
Monday, 4 July 2011
Monday 4th July
Morning,
Difficult day today with little movement as the US is closed.
Waiting for a short around the 6,000 mark as i don't think the high of Friday will be topped today, without the US open. Waiting for 6,000+ befort shorting at least lowers the risk.
1 - short ftse 6002.5. Stop 6021. Target 5986. Minimum stakes for this trade. Base stake * 0.4.
2 - stop hit for a loss of £-40. Surprised by the strength of the FTSE today.
Don't fancy any more trades now today, with the Dow closed.
Cheers
Difficult day today with little movement as the US is closed.
Waiting for a short around the 6,000 mark as i don't think the high of Friday will be topped today, without the US open. Waiting for 6,000+ befort shorting at least lowers the risk.
1 - short ftse 6002.5. Stop 6021. Target 5986. Minimum stakes for this trade. Base stake * 0.4.
2 - stop hit for a loss of £-40. Surprised by the strength of the FTSE today.
Don't fancy any more trades now today, with the Dow closed.
Cheers
Sunday, 3 July 2011
Week beginning 4th July
The first day of what promises to be a defining week for the markets. Last week we witnessed a very strong 5 days for the indices, with the Dow gaining over 650 points. The question is can it continue at this rate? We will get some consolidation prior to another leg up? or was last week merely a brief respite in a bear market?
I like to use the Dow as the barometer for general market direction, and have attached this chart.
We can see a long running bull channel which the Dow fell out of at the beginning of June. The powerful run last week saw it plough back through the lower trendline so we have to believe that the bull run is back on.
However i want to wait for conviction of this by watching how the Dow copes with a few points of resistance close to its current level.
We can see a downward sloping channel could provide resistance around the 12,630 mark. This level also ties in well with previous resistance on 16th, 19th and 20th June, which are circled in the figure. If these can be convincingly broken we might then get few days consolidation before an assualt on the 13,000 mark begins.
There does appear to more uspide in the indicators attached to the chart. RSI is at 66 so technically is not overbought and is below some of the values we've seen in the 2009+ bull run. MACD shows no sign of turning down for now, and again is below some of the values from the bull run. Perhaps more upside remains.
So an interesting week in store. Monday is a public holiday in the USA so perhaps less movement in the FTSE with the Americans enjoying their Turkey. We will see how Asia kicks off overnight on Sunday before considering a trade for Monday, but i'm expecting an early rise on the FTSE followed by a slow drift down for the rest of the day, leaving the way for the Dow to challenge the above resistance points on Tuesday.
Good luck
I like to use the Dow as the barometer for general market direction, and have attached this chart.
However i want to wait for conviction of this by watching how the Dow copes with a few points of resistance close to its current level.
We can see a downward sloping channel could provide resistance around the 12,630 mark. This level also ties in well with previous resistance on 16th, 19th and 20th June, which are circled in the figure. If these can be convincingly broken we might then get few days consolidation before an assualt on the 13,000 mark begins.
There does appear to more uspide in the indicators attached to the chart. RSI is at 66 so technically is not overbought and is below some of the values we've seen in the 2009+ bull run. MACD shows no sign of turning down for now, and again is below some of the values from the bull run. Perhaps more upside remains.
So an interesting week in store. Monday is a public holiday in the USA so perhaps less movement in the FTSE with the Americans enjoying their Turkey. We will see how Asia kicks off overnight on Sunday before considering a trade for Monday, but i'm expecting an early rise on the FTSE followed by a slow drift down for the rest of the day, leaving the way for the Dow to challenge the above resistance points on Tuesday.
Good luck
Friday, 1 July 2011
Welcome
Thanks for taking the time to visit this blog!
I have been interested in the stock markets and trading for over a year now, and have experimented (mostly unsuccesfully) with trading indices, stocks, and forex.
I've now come back to trading with a complete focus on the FTSE and Dow only, and a new approach to managing my trades and strategy, starting from 1st July 2011.
I have a target to make an average of £50 a day to top up my day job income. I'll generally post as soon as i trade on the FTSE in the morning, and Dow in the afternoon, and provide updates as i move stop losses, limits, or close the trade.
if you are interested in becoming a follower don't hesitate to add yourself or send me a message.
All the best,
G
I have been interested in the stock markets and trading for over a year now, and have experimented (mostly unsuccesfully) with trading indices, stocks, and forex.
I've now come back to trading with a complete focus on the FTSE and Dow only, and a new approach to managing my trades and strategy, starting from 1st July 2011.
I have a target to make an average of £50 a day to top up my day job income. I'll generally post as soon as i trade on the FTSE in the morning, and Dow in the afternoon, and provide updates as i move stop losses, limits, or close the trade.
if you are interested in becoming a follower don't hesitate to add yourself or send me a message.
All the best,
G
1st July 2011
i think today will be another up day for the FTSE, albeit with less upside that earlier this week. Looking to stay long today and let the trades run well into the Dow session, where i may add Dow longs.
1 - looking at a FTSE long from open, base stake * 0.6
2 - opened FTSE long 5952.6, stop 5913, target 5994. 0.6 * base stake
3 - FTSE seems to have found support at 5935. Broke out at 5950 and topped up long on backtest. FTSE long 5947.8.. 0.4 * base stake. Target 5994. Stop 5930.
4 - Stop on first long adjusted to 5930. Total exposure now £125.
5 - Stops at overall breakeven, 5950. No risk trade now, with target at 5994, £220 upside. Will log back in around 1.30 to look at Dow.
6 - closed 0.6 of stake at 5972, £57 profit. Other 0.4 of stake still running.
7 - closed remaining 0.4 of stake at 5970, £44.40 profit. FTSE struggling to break 5975 convincingly, better to be out with some profits.
8 - morning session completed for £101.40 profit. Rest until Dow around 1.30PM
Dow session:
ftse opened at 5948 today and topped at 5975 (27 points). It has gradually weakened since then.
Expecting Dow to mirror, albeit with slightly more upside than FTSE gave.
Not a clear trending day today so will not go with full stakes.
Some Yankee news out at 2PM so will wait for that in case it changes market direction.
EDIT - US manufacturing data out at 3PM so am not trading until then, too risky.
1 - Long the Dow at 12499, huge spike up after the US mannufacturing data. I think the Dow will edge upwards through the first half of US trading.
0.5 * base stake, stop 12427, target 12561
2 - stop at break even. Zero risk.
3 - closed at 12541.8. £67 profit. May go higher but with FTSE at 6000 resistance and DOW at 12550 could be enough for today.
That's all for today. Total profit = £168.40. Good start!
Laptop off, time to watch the tennis!
have a good weekend
1 - looking at a FTSE long from open, base stake * 0.6
2 - opened FTSE long 5952.6, stop 5913, target 5994. 0.6 * base stake
3 - FTSE seems to have found support at 5935. Broke out at 5950 and topped up long on backtest. FTSE long 5947.8.. 0.4 * base stake. Target 5994. Stop 5930.
4 - Stop on first long adjusted to 5930. Total exposure now £125.
5 - Stops at overall breakeven, 5950. No risk trade now, with target at 5994, £220 upside. Will log back in around 1.30 to look at Dow.
6 - closed 0.6 of stake at 5972, £57 profit. Other 0.4 of stake still running.
7 - closed remaining 0.4 of stake at 5970, £44.40 profit. FTSE struggling to break 5975 convincingly, better to be out with some profits.
8 - morning session completed for £101.40 profit. Rest until Dow around 1.30PM
Dow session:
ftse opened at 5948 today and topped at 5975 (27 points). It has gradually weakened since then.
Expecting Dow to mirror, albeit with slightly more upside than FTSE gave.
Not a clear trending day today so will not go with full stakes.
Some Yankee news out at 2PM so will wait for that in case it changes market direction.
EDIT - US manufacturing data out at 3PM so am not trading until then, too risky.
1 - Long the Dow at 12499, huge spike up after the US mannufacturing data. I think the Dow will edge upwards through the first half of US trading.
0.5 * base stake, stop 12427, target 12561
2 - stop at break even. Zero risk.
3 - closed at 12541.8. £67 profit. May go higher but with FTSE at 6000 resistance and DOW at 12550 could be enough for today.
That's all for today. Total profit = £168.40. Good start!
Laptop off, time to watch the tennis!
have a good weekend
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