'morning Euro_d et al,
Welcome back.
Closed HSBA short @ 911.5, opened @ 912.5 (adjusted for xd) on 11/8. Small profit taken. HSBA now around stochastic bottom. I feel uncomfortable about staying in this trade, as I feel that HSBA is the strongest bank and there is lots of upside risk. LLOY short OTOH, I'm much happier with
.
Current position: short CW., DXNS, LLOY, MKS, SPW(50%), WTB; long CPI, HMSO, SBRY, TATE
Good trading all,
Mark
Welcome back.
Closed HSBA short @ 911.5, opened @ 912.5 (adjusted for xd) on 11/8. Small profit taken. HSBA now around stochastic bottom. I feel uncomfortable about staying in this trade, as I feel that HSBA is the strongest bank and there is lots of upside risk. LLOY short OTOH, I'm much happier with
.Current position: short CW., DXNS, LLOY, MKS, SPW(50%), WTB; long CPI, HMSO, SBRY, TATE
Good trading all,
Mark
barjon
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a belated mornin' all
STILL on the sidelines but getting itchy fingers (discipline, discipline, discipline ). This correction (if that's what it proves to be ) is stacking up potential longs with not a short in sight, but some of the retracements are getting pretty steep so I'll probably be looking for extra confirmation where they've gone beyond 62%.
Good work to those making short hay while the sun shines.
A trade, a trade - my kingdom for a trade :cheesy:
good trading
jon
STILL on the sidelines but getting itchy fingers (discipline, discipline, discipline
). This correction (if that's what it proves to be ) is stacking up potential longs with not a short in sight, but some of the retracements are getting pretty steep so I'll probably be looking for extra confirmation where they've gone beyond 62%. Good work to those making short hay while the sun shines.
A trade, a trade - my kingdom for a trade :cheesy:
good trading
jon
Jon,
KEEP YOUR NERVE .
Closed CW short @ 154.75 for a small profit, opened yesterday @ 157.25. Decided to close based on positive newsflow this morning & increasing strength in L2 order book/trades. I also note that a £20m sell has printed, which has obviously been depressing the order book. Hope to re-enter once selling pressure comes back (probably not today).
Good trading,
Mark
KEEP YOUR NERVE
.Closed CW short @ 154.75 for a small profit, opened yesterday @ 157.25. Decided to close based on positive newsflow this morning & increasing strength in L2 order book/trades. I also note that a £20m sell has printed, which has obviously been depressing the order book. Hope to re-enter once selling pressure comes back (probably not today).
Good trading,
Mark
barjon
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mark
mmm, glad i cut and ran. my grandson thinks i'm an old fogey though and he knows better - he's still in watching his pocket money disappear.
funny how we play opposite ends of the spectrum. i was looking at your open trades (to thwart the itching finger) and although i'd be with you on lloy i'd be long dxns and short cpi, hmso and sbry. not in any of them, of course, but interesting to watch developments. as long as we both make money
good trading
jon
mmm, glad i cut and ran. my grandson thinks i'm an old fogey though and he knows better - he's still in watching his pocket money disappear.
funny how we play opposite ends of the spectrum. i was looking at your open trades (to thwart the itching finger) and although i'd be with you on lloy i'd be long dxns and short cpi, hmso and sbry. not in any of them, of course, but interesting to watch developments. as long as we both make money
good trading
jon
'morning Jon et al,
Jon - hope you're not leading your grandson astray
Having another crack at EMG this morning: short @ 1650.5 (50% size because entry signals not quite there yet - so I'll probably get a slap) I guess I ought to worry about LLOY if you're agreeing with me on it - but it's my best open position right now (shorted @ 469).
Current position: short SPW(50%), LLOY, MKS, DXNS, WTB, EMG(50%); long TATE, SBRY, CPI, HMSO. I'm a bit worried about HMSO: am watching the order book closely and might exit if a further significant fall looks likely, with a view to re-entering at next stochastic bottom. It's a tricky one because trading is very thin at the moment.
Good trading all,
Mark
Jon - hope you're not leading your grandson astray
Having another crack at EMG this morning: short @ 1650.5 (50% size because entry signals not quite there yet - so I'll probably get a slap
) I guess I ought to worry about LLOY if you're agreeing with me on it - but it's my best open position right now (shorted @ 469).Current position: short SPW(50%), LLOY, MKS, DXNS, WTB, EMG(50%); long TATE, SBRY, CPI, HMSO. I'm a bit worried about HMSO: am watching the order book closely and might exit if a further significant fall looks likely, with a view to re-entering at next stochastic bottom. It's a tricky one because trading is very thin at the moment.
Good trading all,
Mark
morning mark and everyone,
been quiet from me, went to meet a guy down in london yesterday to see a new dma platform, i am very impressed by it.
this morning i have been in and out of rbs this morning a couple of times. shorted bt and still shorted on jmat. thats all about i have for now.
mark u must have done very well with your shorts ey. nice one
kim
been quiet from me, went to meet a guy down in london yesterday to see a new dma platform, i am very impressed by it.
this morning i have been in and out of rbs this morning a couple of times. shorted bt and still shorted on jmat. thats all about i have for now.
mark u must have done very well with your shorts ey. nice one
kim
Thx Kim,
Trading is OK but not that special (yet!): disappointing that DXNS & MKS are continuing to defy gravity :cheesy: . I hope that patience will pay off in the end.
Still, at least HMSO is looking a bit more comfortable right now. The order book seems to be strengthening, so I guess I'll stick with it (unless it hits my stop).
Bit scary that we're agreeing on JMAT . I'm also looking at a short but waiting for an upwards correction before entering.
Good trading,
Mark
Trading is OK but not that special (yet!): disappointing that DXNS & MKS are continuing to defy gravity :cheesy: . I hope that patience will pay off in the end.
Still, at least HMSO is looking a bit more comfortable right now. The order book seems to be strengthening, so I guess I'll stick with it (unless it hits my stop).
Bit scary that we're agreeing on JMAT
. I'm also looking at a short but waiting for an upwards correction before entering.Good trading,
Mark
Show & Tell
Hi euro_d et al,
FYI, the reason I "show and tell" [in particular opening and closing prices and dates for each trade that I make] is as evidence for any trading sceptics that may read this thread. It's also interesting to compare strategies and see how they work out.
3 years ago, I probably would have been pretty sceptical myself, putting short term price movements down to chance rather than any predictable factors. The proof of the pudding though.. Readers following any of the contributors to this thread should be able to work out what strategies seem to work and how well (or not ).
Thanks to khi for starting this thread originally and to all contributors declaring their trades. I hope that everyone is declaring their losers as well as their winners .
One point though: some contributors have stated "I've made xx% this month". What is this xx% of: your trading account or your trading capital? I think these figures can be quite misleading and it is important for newbies not to be confused. For example, my trading account only has as much cash in it as is needed to support current trades (allowing for losses) plus what's needed to support forthcoming trades and hence what's in it varies quite a lot. My trading capital is much larger and this is vital a) to ensure that I'm not wiped out by a bad streak and b) from the psychological POV so that I feel comfortable taking losses when necessary. I shall be quite happy to make 30% per YEAR of my trading capital. From my reading, I understand that this is considered a very good figure by institutional traders. To make much more than that I suspect you'd have to be taking risks bigger than I'm comfortable with.
This is my 1st year of trading full-time (it'll be a year in late September) and, barring any disasters, it looks like I'm on track to make about 15%. I'm pretty happy with that as I've only moved to full-sized trades in the last 4 months of the year (was at 25% size for 1st 3 months and at 50% size for next 5 months).
I hope that this post doesn't sound patronising or negative in any way - it is not intended to be.
Good trading,
Mark
Hi euro_d et al,
FYI, the reason I "show and tell" [in particular opening and closing prices and dates for each trade that I make] is as evidence for any trading sceptics that may read this thread. It's also interesting to compare strategies and see how they work out.
3 years ago, I probably would have been pretty sceptical myself, putting short term price movements down to chance rather than any predictable factors. The proof of the pudding though.. Readers following any of the contributors to this thread should be able to work out what strategies seem to work and how well (or not
).Thanks to khi for starting this thread originally and to all contributors declaring their trades. I hope that everyone is declaring their losers as well as their winners
.One point though: some contributors have stated "I've made xx% this month". What is this xx% of: your trading account or your trading capital? I think these figures can be quite misleading and it is important for newbies not to be confused. For example, my trading account only has as much cash in it as is needed to support current trades (allowing for losses) plus what's needed to support forthcoming trades and hence what's in it varies quite a lot. My trading capital is much larger and this is vital a) to ensure that I'm not wiped out by a bad streak and b) from the psychological POV so that I feel comfortable taking losses when necessary. I shall be quite happy to make 30% per YEAR of my trading capital. From my reading, I understand that this is considered a very good figure by institutional traders. To make much more than that I suspect you'd have to be taking risks bigger than I'm comfortable with.
This is my 1st year of trading full-time (it'll be a year in late September) and, barring any disasters, it looks like I'm on track to make about 15%. I'm pretty happy with that as I've only moved to full-sized trades in the last 4 months of the year (was at 25% size for 1st 3 months and at 50% size for next 5 months).
I hope that this post doesn't sound patronising or negative in any way - it is not intended to be.
Good trading,
Mark
Hi Mark,
Far from your post being in any way negative, I found it clear and helpful.
I agree with all you say and particularly the point about the % gains AND losses. In my case the gain to date this month is calculated as an average of the individual % gain per stock based on the points gain. If allows for the spread. For example: Bought @ 149 sold at 156.5 is an increase of 5%, bought @ 200 sold @ 195 is a loss of 2.5% average of the 2 is 3.75%.
Hope my maths are right!
Anyway, it has nothing to do with the amount I trade. I really do not think it helpful for anyone to say they traded £x per pip.
If you have any other ideas which we can all conform when we "show and tell" please post so we can debate.
If we are to help those new to the art of day/short term trading what do you (everyone) think about posting the strategy, maybe not the finite detail but just an outline?
Good luck to all,
Dave
PS, Mark, it looks as though have been at the game full time about as long as I have although my "dabbling" goes back much further.
Far from your post being in any way negative, I found it clear and helpful.
I agree with all you say and particularly the point about the % gains AND losses. In my case the gain to date this month is calculated as an average of the individual % gain per stock based on the points gain. If allows for the spread. For example: Bought @ 149 sold at 156.5 is an increase of 5%, bought @ 200 sold @ 195 is a loss of 2.5% average of the 2 is 3.75%.
Hope my maths are right!
Anyway, it has nothing to do with the amount I trade. I really do not think it helpful for anyone to say they traded £x per pip.
If you have any other ideas which we can all conform when we "show and tell" please post so we can debate.
If we are to help those new to the art of day/short term trading what do you (everyone) think about posting the strategy, maybe not the finite detail but just an outline?
Good luck to all,
Dave
PS, Mark, it looks as though have been at the game full time about as long as I have although my "dabbling" goes back much further.
