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US Nonfarm Payroll speculation has finally paid off… I love US markets.

Got another account with IG and decided to sell FTSE100 just before the announcement with tight stop loss of 17 points.

As we all know now the data has disappointing to say the least and within two minutes I got 60 points off FTSE100. Held the position for just 3.5 minutes.

Having taken quite some time off trading I have finally managed to go short on the Dow.

As the Dow rallied yesterday I thought it was my chance to go short on it.

Sold it at 12,042 with a stop loss at 12,122 with a view of closing the trade at about 12,000.

Unfortunately, as the interest rates are so low I have to pay overnight financing to by spread betting company even on short positions.

After the disappointing figures on Wednesday the Dow dived 2.28%… just in one day. With some many bad news coming out from every corner it might be right to go short on equities but…  FTSE100 contracted much less that it’s US peers and Greece worries are easing.

As I thought that markets priced in poor jobs figures I thought markets could only move up on Friday and thus I went long on the Dow at 12,200 with stop loss at 12,000. Unfortunately, the markets dived again on Friday and I’m firmly in the red.

Not sure what to do… as even though I’m quite tempted to close my long position I would be kicking myself for not sticking to the plan.

The big problem is that I have to pay overnight charges with financial spread betting.

As many of you noticed I trade less nowadays and hold on to my positions for longer. As long as I don’t run into a free-fall markets I tend to do well as I mainly trade on reversals.

As of today I managed to make one trade on oil and one order is still working on EUR/USD.

Details:

1. Went short on oil at 101.19 and in a matter of minutes was over 40 points in plus, moved my stop loss to collect 22 points. As things stands (at 14:52) it hit my stop loss and went down… unlucky.

2. Order to go short on EUR/USD at 1.4283 with stop loss 33 points and I’m ready to cash in 50 points. Let’s see if I hit. One thing to remember that if my order hits and I sit about 20 points up I will move my stop loss to collect at least 1 point but leave limit order as it is.

As I’m getting more organised I manage to avoid trading every day without feeling sorry about. As you can see from my blog sometimes I just trade a few times a week but sometimes I have a chance of trading 5 times a day.

Today was an exceptionally great day. Had lovely positions on FTSE100, the Dow and Brent Crude.

Have a look:

1. Bought the Dow at 12,552 with a stop loss at 12,480 which had a decent support. I’m afraid I closed it too early at 12,591.

2. FTSE100 has a great support about 5,870 and I thought it was a great opportunity to enter. Once again exited too early at 5,910.

3. Oil at last… entrance for US Crude June at 97.90 and exited at 98.90 by moving stop lost to 98.10 and then to 98.90.

Please note that FTSE100 and US Crude position were triggered by orders while I was still asleep. It just underlines how preparation and orders are important to place successful spread bets.

Remember, it’s not what you trade but how you trade it. Some people think they need 0 spreads to be successful but it’s not the case. How do you expect financial spread betting companies to make the profit?