Jdtrader - day trading

J

JDTRADER

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Hi Guys

Last year found the world of Spreadbetting and fell in love until I lost my £250 on CMC. That was last year when the market dropped and I lost going Long.

So now I have been out of my CMC since last year I get an email from CMC which ignites my passion again and I start looking back on my trader notes.

I find my CMC Trading IQ Pack with A £200 voucher for an all day session on trading, so I book in for Oct 17th 2009. I will be reloading my account with £500 by this date to start live trading Monday 19th Oct 2009.

Until then I have reopended my PaddyPower Demo trading account which today stands at £7,366.71.

I have 3 positions open:
Rio Tinto Short @ 2637.0
RBS Long @ 56.1
Cadburys Short @ 778.2

These are just my demo watch list as when I trade live with £500 I will be trading the FTSE 100 to nick profits at the range of my buy sell targets with no overnights.

Going to try out my trades on this demo account and will post my progress from demo account to live trading on CMC.

Next post Monday or Tuesday, have a good weekend all
 
Last edited by a moderator:
Just sitting around this Sunday morning and thought I would post my strategy for the coming week.

I am keeping it simple with just Support & Resistance horizontal lines and drawing trend lines for the FTSE 100.

I start a chart looking at a 1 month chart to see the trend is in a up mode, I have set up two trend lines and coloured them Red SHORT and Blue LONG. lol

So my range at the open for Monday morning will be:
5,052
4,999 sitting at now CLOSED
4,898

If a break on the upper or lower line then I'll watch for a change of the trend but I will go long or short when the market moves towards and turns from my lines. Plus will watch if the FTSE 100 will fall to a S & R mode by this I mean if it falls back to 4,932 then bounces up this could result a S & R mode to R at 5,021. If this is confirmed it could result in the start of a Down trend ?

I am not going to watch any news or Bloomberg to see if the charts will tell the story for me. Well thats the plan but it could all change Monday with a big fall but if that happens I'll just rechart my lines and follow the trend and watch for S&R to occour. The charts are not set in stone just a guide.

Any thoughts would be great.
 
Just to add.

I am watching:

AIG (37.70) short
Cadbury (778.2) short but if it hits 810 it could be long to 900 with all the news at the moment

November - Bank Of England if they pump in another 25 Billion QE then short GBP/USD but if they don't and no change then Long.

When I go live I will be trading just the FTSE 100 at £1 per point so I'm not over leveraged and if I can build up my balance then I'll do more trades as I go. I'm watching the charts for:

AIG
Cadbury
T.Clarke
Rio Tinto
Lloyds Bank
RBS

FTSE 100
Nasdaq 100
S&P 500

EUR/USD
GBP/USD

GOLD
 
Please don't be take offence at this but why are you short Cadbury when............

they are being bid for so someone see value there...

there are rumours of a counterbid

the markets are rallying.

If the bid was pulled then they may drop 50p or £1 but if theres a counter they could be £10...
 
foredog said:
Please don't be take offence at this but why are you short Cadbury when............

they are being bid for so someone see value there...

there are rumours of a counterbid

the markets are rallying.

If the bid was pulled then they may drop 50p or £1 but if theres a counter they could be £10...
Click to expand...
I agree...


In general when companies are bought, there share prices rise, after all it means the other company thought they were a worthwhile company and now they will have loads of additional resources!
The reason Cadburies price rose so much after the Kraft bid was rejected was because further bids were rumoured to be coming in and it meant Cadburies percieved they were worth even more than that bid they said it 'fundamentally undervalued' them, hence - Demand for a company... If a company has demand from other companies, it must be good - So investors bought...
If the bids are dropped prices will fall and your short will work; But on the more-likely option that Cadbury is going to bought it; Prices will gap and stop price won't be hit (Unless its guranteed) hence, you are trading a very volatile market...

Additional bids MAY come in from Cadbury, gapping price up overnight and therefore its high risk...

Just in case you weren't sure of these elements upon entering your short!
 
And I agree, too. Anyone who's short on Cadbury will not sleep easily after reading the Sunday Times, which has enough influence to make sps gap.
 
foredog said:
Please don't be take offence at this but why are you short Cadbury when............

they are being bid for so someone see value there...

there are rumours of a counterbid

the markets are rallying.

If the bid was pulled then they may drop 50p or £1 but if theres a counter they could be £10...
Click to expand...

Hey no offence taken

Thats why I'm here, I could have a Trading Diary on my desk but a book does not talk back to you lol.

Of course your right but I'm thinking short to start as with some take overs its all hyped in the media then nothing happens. I got back into trading just after the announcement of Cadbury and Kraft.

I'm thinking a short if it all blows over the price will drop back to lower levels but I got a stop at 800 and if it hit 810 then I'll buy to 900 where the price could go higher if a bidding war starts.
 
Jack Hughes said:
And I agree, too. Anyone who's short on Cadbury will not sleep easily after reading the Sunday Times, which has enough influence to make sps gap.
Click to expand...

Hi Jack

Dam yep I forgot about slippage, I could of been burnt over the weekend and could of missed my stop.

This is my Demo account so I'm trying things that I would not do live like leaving positions on rolling cash to remain open over weekends.
 
Monday 14th Sept 2009

Took profits on Rio Tinto, exit 2572.0 +£65.00
Opened a Long at 2570 but got stopped out at 2550 -£20.00
Jumped out to quick thought it was on the up again

GBP/USD
Long at 1.6562 exit 1.6591 +£29.00

EUR/USD
Long at 1.4538 exit 1.4566 +£28.00

GBP/USD & EUR/USD jumped in then out as I had to take the kids to school, the real world lol. So far this morning up £102.00
 
EUR/USD
Short at 1.4556
My range at this moment is: 1.4561 - 1.4530
Stop 1.4570 - Limit 1.4530
 
JDTRADER said:
Monday 14th Sept 2009

Took profits on Rio Tinto, exit 2572.0 +£65.00
Opened a Long at 2570 but got stopped out at 2550 -£20.00
Jumped out to quick thought it was on the up again
Click to expand...

At 09.40 Rio now 2544 dam out to early lol

This could be heading to my next line 2463 ? Watching
 
GBP/USD

Heading down my range if it hits 1.6500 and comes up again I'll look for a long then
 
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