A day in the life of a real trader

[SquealTrader]

Have just entered long Nasdaq at 3786.25. let see how this goes

 

[SquealTrader]

Ok have exited this Nasdaq trade. It didn't really move away from entry so closed out just above scratch. Lets see what opportunities await tomorrow

 

[SquealTrader]

Good morning,

Just been entered long the euro strategy i posted yesterday. I'm not as confident in this trade as i was yesterday due to the level being tested overnight but we have a very quiet news day ahead of us so wouldn't expect too much movement.

 

[Sigma-D]

Its not what you don't know that can blow your account, its what you know for absolute certain that can. Time to change my opinion and get long this Euro i think.

Before the 2008 tank the money markets had been way out of whack and 'should' have tanked a lot earlier than it did. It didn't.

Those who played what they thought it 'should' have been doing got hammered. Those that traded what is was doing stayed above the mess.

Changing your opinion to reflect the reality rather than the theory sound slike a smart move.

 

[Sigma-D]

Good morning,

Just been entered long the euro strategy i posted yesterday. I'm not as confident in this trade as i was yesterday due to the level being tested overnight but we have a very quiet news day ahead of us so wouldn't expect too much movement.

3605 is line of last defence at the moment. 3620 is pivotal. Above that then setup for a long to initially 3642 (87%), then 3679 (69%) and even 3716 at a stretch (55% probability in current trading day).

Of course it it does start eating into the misery then 3568 and 3531 are targets, but I don't have probabilities on that - yet.

 

[SquealTrader]

Ok just got stopped at scratch on this euro long. I have lost patience with it and pivot is proving to be a stubborn resistance level. My risk appetite for this trade has vanished.

 

[SquealTrader]

second attempt going long this euro at 13591 with stop at 13573

 

[SquealTrader]

Great push lower on this euro. Ive been stopped out so hopefully this means i can get back into bear mode on it which is what i feel most comfortable doing.

 

[SquealTrader]

I'm back into bear mode on this euro and after this morning's sell off i was waiting for a retrace on this Euro and have managed to get entry at 13601 to go short. Ive got a real tight stop on this because frankly, I don't trust this euro and if i am wrong i will want out quick.

 

[SquealTrader]

Ok nice to see my stop worked as resistance to stop this upmove. as i mentioned in my first post i always place my actual stop a few ticks above the technical level i have chosen. Now that the trade has seen a firm rejection from these highs i have moved my stop to sctach. if price gets back up to 136 i am not going to want to be in this trade.

We've also had decent new home sales numbers which should help this euro down a bit more. ive adjusted my profit targets also

 

[SquealTrader]

What a miserable trade - I am out this Euro with 5 ticks profit. It was looking good at 1 point but Cable's reluctance to get below 16990 meant euro stayed supported.

Never ever short the euro.

 

[SquealTrader]

Morning, Have just been entered short here on bund at 14625 with stop above 14633. Dovish comments from Carney on the wires this morning, weak ifo numbers (but not that weak). has caused a decent equity sell off also. Lets see how this bund plays out. im also awaiting entries on estoxx and euro so will post those also if i get filled.

 

[SquealTrader]

Carney and Miles dovish comments have caused a nice sell off this morn on cable so have caught this retrace back up to test yesterdays support for an extended move lower. Cable has not been my friend recently and i have my stop above 170. if it gets back above there then i am wrong and want to be out of this trade ASAP

 

[SquealTrader]

Have been in both my bund and cable trade now for over an hour. Bund found perfect resistance at my entry but it is struggling to move down. I am aware that I am counter trending it as well so my stop is now at scratch.

Cable trade looking a lot better. Again it found decent resistance at yesterdays support and my stop placement meant i gave the trade enough room to wiggle. only a few ticks away from target 1 so stop now at scratch also.

Glad to be risk free from here on out.

 

[SquealTrader]

I have taken my cable trade off. euro pushing higher which will probably end up dragging cable with it.

Nobody ever went broke taking a profit

 

[SquealTrader]

Ive just come out of my bund short with a small profit. Price found solid support on 20th high @14608 and my profit target was just below that. now that we are back up here i no longer want to be against this trend. This might lead to a sell off in equities so will look for any opportunities in those products.

As for this euro. I want to get short it but feel its got more upside to go so will stay out until i see it losing interest.

 

[SquealTrader]

just had some bad durable goods orders and weak gdp data from the US. a predictable euro spike up which has entered me in short here up at the highs.

I get confused these days if good news = bad and vice versa. i delayed getting entered when price first tested as wanted to see the levels hold but feeling better about my short from here now. Data was bad but bad enough to push this euro out of its range? we'll see. Cable also shown great resistance at 16990 which give me more confidence about this euro. 13638 and 32 are big support levels here. so might take some size off early to lock in that profit. Will be interesting to see how equities respond to this at CO

 

[SquealTrader]

just had some bad durable goods orders and weak gdp data from the US. a predictable euro spike up which has entered me in short here up at the highs.

Ok we're hitting first signs of support here so my stop is now to scratch. it could really go either way from this point so am glad i got entered at 13651 but if price bounces back up from here then i will want out. Theres still the US session to trade as well in 15 mins so feel theres plenty of opportunity for today regardless.

 

[SquealTrader]

I've closed out this trade for 11 ticks. This is frustrating as this means im currently working with a 1:1 RR which in my opinion no trader can maintain profitability in the long term. The only way i am able to stay above water is if i lock down these big winners. Those dreaded losing streaks are always around the corner and its the big profits that see me through them. I don't care what anyone says - there is not a single trader that has a system or style that makes money in every market condition. I just have to stay focused on maintaining focus, discipline and most importantly consistency is executing every strategy i get as soon as the opportunity presents itself.

Still, 1 of the key lessons i learnt many moons ago was that you cannot force the market to give you money. There are days when the market gives, days when it will take - and days it will give you a sore ass. Our job as traders is to identify which day it is and trade the markets accordingly. You try and dip your hand in to take by force and the market will punish you for it. The market is a tough teacher - and she doesn't spare the rod!

This is the hardest most miserable job there is, it never gets easier and just when you think you've cracked it, the market teaches you otherwise and reminds you who's in charge.

Rant over!

 

[SquealTrader]

Morning,

I have just been entered long this SP at 1950. This SP doesn't want to sell off. Everytime a sell off happens it is immiediately bought back up. Every selling push is another excuse for the BTD (Buy The Dip) crew to jump back in. my prediction is we will see 2000 by the end of July.