Diary of a swing spread better

My pleasure. It'll be a chance for myself to review the dusty material somewhere in my loft :)

G'nite!
 
Dartford.

Used to live at Grays , the other side of the tunnel. Good for the missis to shop. Worked in Docklands right by where the bomb went off in 96 (day off thank god, ) Now in S O T, Moving back down a bit to Tamworth in 8 weeks

IM5 :p :p
 
Interesting to know, IM5! Glad that you had the day off.

Before moving here, I've read review about Dartford and one former Dartforder wanted the train station to be carpet-bombed. It still there unfortunately but with constant police presence as Dartford is bordering zone 6 and the difference between ticket price is like the spread by SB firms :) Many people try to use zone 6 tickets or no tickets at all.

I only came here because houses used to be quite affordable and they still have grammar schools here.

Where is Tamworth by the way?!
 
Thanks! So in the end you've traded Lakeside and Bluewater for Bullring then :)

Later,

Hung
 
Stop loss

Just got an article about stop loss sent to me by a bbcvietnamese.com reader. He was inspired by a story about my experience spread betting in the UK.

The article is in Vietnamese but the table showing number of trades, number of winning trades, average loss, average gains and total winnings is clear enough to illustrate the point of having stop loss.

I like his quote that ''To lose a hand is better than to lose an arm.''

Google's chart showed that it was capable of dropping from around $480 in Jan to $390 in late Feb. That's a whopping 9000 points.
 

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'Free week on FT.com

This is from the FT

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http://news.ft.com/home/europe
 
Monday plan

1. Stop sell AZN at 2616, stop buy at 2688. Recent low 2500. 100 point gain is acceptable, trailing limit buy every 50 points.

2. Stop sell RTR at 379, stop buy at 396. Recent low 346. 50 points is the target. Trailing limit buy every 25 points.

3. Watch the DOW for possible trading clues. Use smaller stakes.
 

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Well, having looked at the chart again, AZN shorting still stands a good chance of success. No change of plan.
 
AZN has an up day today, so only able to short RTR. Rank, another short candidate has an up day today. Will look to see if it's still a good one to short.

Good earning reports and the continuing bid fever pushed the FTSE up more than 60 points already.

The DOW looks like it's going to have a good day too. I've chosen to stand on the pavement as no trades are grabbing me. Trading seemed to take over my life last week and I won't let it do that again.

End of day trader suits me better.
 

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Down with the DOW

I thought good news from the telecome sector in the US should help improve investors' moral. It did not. Sitting on a loss at the moment. Will cut it when it come to 300.
 

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Fantastic fall

The DOW had a fantastic fall today. And unlike on Friday, this time I caught it all. Just that I am on the wrong side of the trade.

My 380 quid plus profit is now reduced to 11. But the DOW has started its bid to climb up. Most of stop losses must have been triggered but not mine. I don't actually have one :(

Don't know how much this lesson is going to cost. Depends on where the DOW ends up today. I suspect it will be in the range of 200-300.

I don't think I can use mental stops. It should be physical ones.

The only reason for today's DOW fall is the rise of bond yield which will cause fund to flow out of the stock market and into the bond one. All other good news have been irrelevant so far.
 

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Rounded bottom

I am trying to see this one as a rounded bottom pattern. Even if it is not, the DOW is picking itself up. Profit is back to nearly 50 now. The punishement seems to be overdone. What's that shock and anger phase's called. SARAH - Shock - Anger - Rejection - Acceptance and seeking Help.

Well, I am not actively seeking help but its seems like many of the big buyers are bargain-hunting again.
 

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Adding to losing postions

If I'd still had enough fund, I would have done just that. The DOW is climbing up steadily.
 

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Extreme circumstances

...requires extreme measures. Had I got out at my mental stop limit of 300, I would have made a bad decision. Losses is now down to about 215. With half an hour to go, I suspect it will improve.

After all, most of the biz news have been good enough with merger deals, lower oil prices and the Iran crisis looks to be resolved soon.
 

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Hi Hung and All,

As you know I held SPW and SN over the weekend, selling MKS. This morning I decided to close my short
SPW, it started to move up a bit. Haven't looked at it since, that always depresses! SN has risen 8 points in my favour. Supper's calling!

Split
 
Leaving position overnight.

I am tempted to leave my positions overnight now. Exactly the case of a short term trade becomes a buy and hold one. But my conviction about the DOW's eventual rise is as strong as Tony Blair's one about Iraq's WMD. Bring the bears on :)
 
Congrats, Split. You've just become Veteran Member! Well done on SN as well!
 
hungvir said:
Congrats, Split. You've just become Veteran Member! Well done on SN as well!

Thanks, I hadn't noticed. Remember what happened to me about ten days ago with DMGT, it gapped down 80 points one morning. I still trade overnight but you do Indices, so please be careful, the DOW really is something! that is why there are so many day traders!

Just going to get my data up to date and then off to bed. Good night and Good trading.

Split
 
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