Gambling trades....

arabianights · Feb 25, 2011

...an occasional journal in which I will take trades in markets I have no edge in (and generally no understanding of) whatsoever for mostly poor reasons. Unless otherwise noted, this is all low stakes spread betting.

So to kick off, I just bought May wheat. 110 tick target and stop (cause I paid 790).

Reasons: Came down a lot, now stopped (hopefully). It's a commodity and they go up! Small spread. Looking to double or eradicate account.

scose-no-doubt · Feb 25, 2011

I don't see much difference from most journals on here.

temporarilylight · Feb 25, 2011

gambling's cool.
Why dont you have an edge in the wheat market?
What markets do you have an 'edge' in?

shadowninja · Feb 25, 2011

I was considering punting wheat. Particularly because Krackawheat in Tesco has gone from 85p to £1.11 in 3 years.

Masquerade · Feb 25, 2011

What size did you bet? What TA did you use? Will you be posting lots of charts with indicators and some discussion of your TA?

arabianights · Feb 25, 2011

temporarilylight said:
gambling's cool.

Agree

temporarilylight said:
Why dont you have an edge in the wheat market?

Because I don't know the first thing about it

temporarilylight said:
What markets do you have an 'edge' in?

Fixed income

Masquerade said:
What size did you bet?

£2pp. Account is just under £300 so seems about appropriate for risking entire account... leaves a bit for slippage (although am aware it can move a lot more than that) and if not slipped, for a couple of desperate last punts

Masquerade said:
What TA did you use?

Looked at the chart and saw it had come off a lot

Masquerade said:
Will you be posting lots of charts with indicators and some discussion of your TA?

No

arabianights · Feb 25, 2011

shadowninja said:
I was considering punting wheat. Particularly because Krackawheat in Tesco has gone from 85p to £1.11 in 3 years.

Join me!

Although you'll have to pay another 2 ticks.

That's right chaps, I'm a tick up

donaldduke · Feb 25, 2011

Spanish Stops :clap::clap::clap:

Masquerade · Feb 25, 2011

arabianights said:
Looked at the chart and saw it had come off a lot

Which indicator is that? Something like RSI? MACD? Williams? Ichimoku kinko Hyo?

arabianights · Feb 25, 2011

Masquerade said:
Which indicator is that? Something like RSI? MACD? Williams? Ichimoku kinko Hyo?

**** off

Masquerade · Feb 25, 2011

You hurt my feelings

I'm just trying to learn from a pro.

wackypete2 · Feb 25, 2011

I have a sudden craving for a bowl of Wheaties.

Peter

shadowninja · Feb 25, 2011

wackypete2 said:
I have a sudden craving for a bowl of Wheaties.

Peter

This is T2W not Twitter, just in case you weren't sure.

shadowninja · Feb 25, 2011

arabianights said:
Join me!

I was thinking of putting a stop at around 300 and a TP of >1000.

JRP2891 · Feb 25, 2011

shadowninja said:
This is T2W not Twitter, just in case you weren't sure.

Chortle chortle!

redart · Feb 25, 2011

shadowninja said:
This is T2W not Twitter, just in case you weren't sure.

@shadowninja - I think he knows where he is.... #tradewin

Arabian. Im a gambler. Maybe I call trades which you take and lose some of your money...

trader_dante · Feb 25, 2011

At the risk of being ignored, I will offer the same input I did the last time you bought Wheat. Buy Corn instead.

redart · Feb 25, 2011

Is the ES a short here at 1317 Dr Dante?

trader_dante · Feb 25, 2011

redart said:
Is the ES a short here at 1317 Dr Dante?

Resistance is at 1320 1/4 but it's not one for me.

Sorry Arabian. Back to you

tar · Feb 25, 2011

Is this a new fashion to use MYFXBOOK banner as a signature :|

Gambling trades....

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