Currencies

Finally, I decided to take a few short trades. As some of you might remember I still hold RBS, £100 per point but since RBS share price is so low (about 20p) my exposure is not massive.

Today, I tried to buy a few things:

1. Bought FTSE at 5415 with stop loss at 5395 and limit stop at 5550.

2. Bought EUR/USD but I got exited with £120 loss (only £1/pip).

3. Thomas Cook Group. Bought at 15.502 £50/point with stop loss at 11 and limit stop at 20. I bought June futures as plan to hold them for a while.

Will keep you updated on when/if I get something else.

PS: put a sell order on US crude at $102 with stop loss at $104 and will take profit at $98. $102 has a decent resistance level.

Today at 9:05 I was sitting on £1,000 profit on UER/USD and now I’m sitting on around £400 loss… it’s just unreal.

I was thinking of closing the position at 12:30 but then I thought it would be great to stick to my idea.

Lessons: Don’t be afraid to close your positions and chill out… sigh. Spread betting is tough but thrilling.

Having seen markets going mad in August I decided that it was time to finally act.

I got EUR/USD £5/point at 1.4066 with a stop loss 100 points away and I’ll take profit of 300 points.

Also, I thought it was a great time to buy some banks and using my spread betting account with IG Index I got RBS £100/point, with a stop loss 11 points away but I’ll take profit 13 points away.

Finally, I’m taking long term positions and my target is not to touch them unless I see a good opportunity and need to release funds.

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.

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.