Haven't really had time to trade lately, and when I do I am trading dead markets.
Working pretty much every day serving, coming home doing Math to get into Math&econ at university.
Started thinking about buying some equities long term (distressed equities) being AIG, Citi, Fannie Mae, Freddie Mac, DXO (DB oil 2x etf).
Also have been trying to get my first "Pricer" built but finding it quite difficult as the tools I need are quite expensive (Bloomberg ~$1500 a month, Esignal ~200-500 a month, Reuters ~$2500 a month) . Might just focus on the theory for a bit then move to practice once I have gotten both my math and programming skills upto par.
Overall I KNOW that my trading theory works (with or without indicators, as I can spot the entries without indicators now), I need to work on what is happening to the market at what time of the day so that I can monitor where I take entries. I.E. I get off work at 930, get home at 10, and Asia is still on lunch so its usually slow, I take an entry 10m before they are back from lunch, all of a sudden I am stopped out due to the Nikkei being bought/sold over lunch.
"Every action we take, everything we do, is either a victory or defeat in the struggle to become what we want to be" Ninon de Lenclos.
Saturday, March 28, 2009
Tuesday, March 10, 2009
scalping
so first lesson learned months ago was that you play the secondary move and not the first as the probability is higher...
I have been puting this to practice and have had mixed results...
basically is the lie and wait tactic.
If I sit and watch my charts, after 10-15 mins I start to feel the market, and I begin to follow the spikes. My losing trades are when I have not gotten the feeling of the market, or when I enter late. Also realising that position size is key. You want to be able to peel off risk early incase you are wrong, and have a bit running incase market accepts the new direction.
EXample:
was short euro @ 1.26816 as a scalp, testing the water. Got out +5.2 at 1.26764 when market started stalling. This made me thing that yes market is short, but not ready to drop yet. Re entered with larger size at 1.26741, took 1/2 at 1.26708 +3.3, retraced and then market moved in, took 1/2 remainder at 1.26648 +9.3 and remainder @ 1.26612 +12.9.
euro ran down to 1.26445 and is still running...I should have held the last part to b.e. need to work on that.
I have been puting this to practice and have had mixed results...
basically is the lie and wait tactic.
If I sit and watch my charts, after 10-15 mins I start to feel the market, and I begin to follow the spikes. My losing trades are when I have not gotten the feeling of the market, or when I enter late. Also realising that position size is key. You want to be able to peel off risk early incase you are wrong, and have a bit running incase market accepts the new direction.
EXample:
was short euro @ 1.26816 as a scalp, testing the water. Got out +5.2 at 1.26764 when market started stalling. This made me thing that yes market is short, but not ready to drop yet. Re entered with larger size at 1.26741, took 1/2 at 1.26708 +3.3, retraced and then market moved in, took 1/2 remainder at 1.26648 +9.3 and remainder @ 1.26612 +12.9.
euro ran down to 1.26445 and is still running...I should have held the last part to b.e. need to work on that.
Thursday, March 5, 2009
Monday, March 2, 2009
Positions (late post)
I opened the following yesterday:
L euro 1.25785 SL 1.24785
S usdchf 1.17290 SL 1.18290
S usdcad 1.27527 SL 1.28527 which was stopped out -100
I would really like to see 1.30-1.35 on euro and ~1.12 on swissy over the coming month.
L euro 1.25785 SL 1.24785
S usdchf 1.17290 SL 1.18290
S usdcad 1.27527 SL 1.28527 which was stopped out -100
I would really like to see 1.30-1.35 on euro and ~1.12 on swissy over the coming month.
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