Author Archive

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?

Markets seem to be in a free fall and it seems there’s not a single asset class that is not crushing.

Commodities and indices are heading south and there’s no recovery in sight. Put an order to buy FTSE100 at 5,890 with a stop loss 5,850. If it manages to break 5,850 level it’s better to sit on the sidelines till it reaches 5,700 as 5,500-5,600 seems to be a strong support level and it’s highly unlikely it will manage to breach it.

Only currencies have some volatility and EUR/USD in particular. Tried to sell UER/USD at 1.4874 but got stopped out at 1.4893. Second sell at 1.4896 was more successful as closed half the position at 1.4890 and the second half at 1.4836. Early loss is recovered.

US Crude looks interesting now but stop loss should be about $105.50. If it breaches that level… only way is down.

Retail Sales in March (YoY) in Eurozone are down more than expected but EUR still manages to hold to the gains.

Thought I’d make a killing there but as things stand it doesn’t seem to be the case.

Still have a EUR/USD position (short)… sold at 1.4868 with stop loss at 1.4891 and limit stop at 1.47.91. Most like I’ll close the position shortly if there’s no significant movement.

Once again, I’m buying silver as after yesterday’s crush it’s quite volatile and I, personally, think it’s time to make some money going long.

Got into silver at 43.21 with stop loss at 41.95 and limit stop at 45.50. Will see how it goes as I might exit the position before but I should hold the nerve and let it run for a while after I missed such a massive move yesterday but closing the position too early.

PS: I’m using financial spread betting company to trade as I find it tax efficient and cheap.

Update: just to make sure I got a handsome profit I moved the stop loss to 43.71 and then to 43.96… just wish my broker had trailing stops. Anyway, it hit 43.96 and I’m 150 in the money (75 points). Now it’s 44.80, but I don’t like to hold my positions after 6pm as after that time markets tend to break the support and resistance levels.