Diary of a swing spread better

[hungvir]

...

The thing that put me off spread betting even though it has obvious benefits is that if you try to be an intuitive trader and 'tune in' to the market sentiment there is, at least for me, a feeling that I'm not a real player in the real market. There's enough smoke and mirrors in trading without having to add some more. Just my 2c...

Hi rols,

If we spreadbetters all put our money into shares, you would have to buy them dearer as there're more buyers. Do you want that to happen?!

Well done on your YM trade. Have to admit I don't know what YM stands for.

Cheers,

Hung

 

[barjon]

hi hung

just back from holiday. how's it going - been coining it i hope

good trading

jon

 

[hungvir]

I hope you find my email exchange with CMC at least amusing. May be not.

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Hi Steve,

You made me worried.

I haven't used the account for three years now and I wonder how I could have an open position. I don't event know how to access my account now. I think I only have about 50-60 quids in my CFD account. It looks like someone is trading on my behalft

Please let me know how to access the account. I only have marketmaker installed.

Thanks,

Hung

[email protected] wrote:

Dear Mr Nguyen,

I have processed your funds out of your Spreadbetting account for you. I could not however process your payment from your CFD account as you have an open position. If you still wish to withdraw funds from this account please could you close this position and re-request the payment out. Apologies for any inconvenience caused.

If you require any further assistance please do not hesitate to contact us again. If you reply by email, please attach your previous email to ensure a speedy and accurate response. Alternatively you can go to http://www.cmcmarkets.com/help where answers to most of your questions can be found.

Help us keep our records up to date by letting us know of any changes to your personal details. Please fill out the Change of Contact Details form found at www.cmcmarkets.co.uk/help.

Regards,

Steve *****
Helpdesk (London)
___________________________________________

Tel: +44 (0) 207 170 8205 (UK)
Tel: 1 866 531 2602 (USA)
Fax: +44 (0) 207 170 8497
Email: [email protected]
Web: http://www.cmcmarkets.com/help
___________________________________________

 

[hungvir]

hi hung

just back from holiday. how's it going - been coining it i hope

good trading

jon

Hi Jon,

Glad to have you back here. Hope the holiday was fab.

I am getting there. To break even, I mean.

I am confident I've learnt how not to lose money. To me, that's the most important thing - to have fire power to fight another day.

Good trading,

Hung

 

[hungvir]

Hi Hung

Yes it will be good fun to have look at Marc's method I will post findings as soon as I have them.
I am very busy on my own uereka moment as last night while despairing at the Dow's rise I successfully got that BAT sonar ( the black swan cometh ) thingy to give signals on a 5 min chart and combined my trix strat with it, they compliment each other quite well and should improve entry / exit timing which was needed most urgently. I hope not to be in the same pickle in the future that im in now :cheesy:

Well done with EMG

Hi rols

Great going on the YM there rols. shes a moody mistress for me at present although another 30 more points down today and thats even ( I live in eternal hope here )
I looked at pivots after following yahoo's market commentary a while back and liked the way the price would stall and /or reverse at them. I purchased john carters trading the mini dow cd which explains the principles and calculations behind them. They are worth being aware of but I do not use them as such yet.
Indicators if used correctly can enhance the view given by the price IMO.

What a picture on the black swan thread very well done indeed

Hi Split

I see Hung has got the bit between his teeth again!

good trading all

Don

Hi Don,

If you're to backtest it on the DOW, could you use 40 point stop loss regardless to see how it goes. And let's only buy when the price is at least 10 points higher than the previous day's high (still after a three day fall with inside days not counting) please. And the opposite is applied when going short.

The DOW is too big a beast for me at the moment but I'll look at it again when my risk profile changes.

Good trading,

Hung

P.S And an English question. What do you mean when you say someone has a bit between his teeth I wonder how they let me become a British citizen when I can't even understand this

 

[barjon]

Hi Jon,

Glad to have you back here. Hope the holiday was fab.

I am getting there. To break even, I mean.

I am confident I've learnt how not to lose money. To me, that's the most important thing - to have fire power to fight another day.

Good trading,

Hung

hung

thanks, had a great time and didn't look at the market for four weeks.

nice emg trade of yours - 3 bar swing? - hope you don't get a down gap opening if it's still open.....and talking of open positions, that cmc one might be worth a bomb now

good trading

jon

 

[hungvir]

hung

thanks, had a great time and didn't look at the market for four weeks.

nice emg trade of yours - 3 bar swing? - hope you don't get a down gap opening if it's still open.....and talking of open positions, that cmc one might be worth a bomb now

good trading

jon

Hi Jon,

That's it. Three bar swing. Got stopped out the othe day when I bought December contract. A silly mistake.

I think someone is using my CFD account at CMC. I took most of my money out of my account three years ago but left about 50 quids in it. But with accrued interest, I now have about 60. Can't remember exactly how much. But as CMC does not give credit and I haven't received any margin call from them, I am not worried too much about that open trade.

I phoned them up about two months ago and requested login details. Just found back the email and tried them but could not login. Obviously someone somehow got hold of my details and has been using it. I hope they've been doing well

Best,

Hung

 

[hungvir]

And I only risk 50p on EMG so I am not worried about it even if it gaps down. I don't think it will. It already made me about 50 points during the last two days.

 

[hungvir]

FTSE is still a buy. I am still allowed to trade as small as one pence a point so here comes a FTSE bull

 

[hungvir]

Logica gapped up on quite convincing volume. Will watch it. Who knows this may be the beginning of a long march to 500.

 

[Splitlink]

B/O REX this morning for 549.1, after a spike.

Split

 

[Splitlink]

B/O ABF for 759.2

Split

 

[Splitlink]

Rexam stopped at 540. I should have allowed my entry point to get closer to that stop level. 9 points was, perhàps, too far away-

The other three trades that I have open are not doing anything at present.

Split

 

[Lightning McQueen]

Hi Don,

The DOW is too big a beast for me at the moment but I'll look at it again when my risk profile changes.

Good trading,

Hung

P.S And an English question. What do you mean when you say someone has a bit between his teeth I wonder how they let me become a British citizen when I can't even understand this

Hi Hung
Its a beast and a half alright, its finally on the move but the wrong way!

Definition

get/take the bit between your teeth British, American & Australian, American take the bit in your teeth

to start doing something in a very keen way
When the team really gets the bit between their teeth, they are almost impossible to beat. ( unless Dow trading )

from Cambridge International Dictionary of Idioms

hope that explains for you

Don

 

[hungvir]

Many thanks, Don!

How close do you think you're to moving from your demo account to a real one?! IMO, the closer you're the sooner you would need to adjust your bet size to match what you're going to do for real. Most of my losses resulted from just two ten pound per point bets on the DOW. And now I only bet from 20p to one pound and it's really a daunting task to go back to year zero.

Later,

Hung

 

[hungvir]

For all my imagined scenarios about how someone could have used my CFD account at CMC, it turned out the help desk people just looked at the wrong account. It did make me sweat for a minute or two.

So now I only have money in just one account (with Fins) though I still have the account with CMC and Worldspreads.

I do like Worldspreads as I think their platform is one of the best for someone like me. But until they take market price order, I won't trade with them eventhough they give me 500 pound credit. In fact, thhis helps a lot with margin requirement. You won't have your own fund tied down to margin and thus not 'working' for you.

 

[hungvir]

AZN has dropped for three days now and I am going to buy it if it coud head up.

My stop buy order for the FTSE has been adjusted.

EMG earned me another 14 points today. This after all is one of the darlings of the City at the moment. For every profit taker and shorter, there would be a buyer.

 

[hungvir]

Rexam stopped at 540. I should have allowed my entry point to get closer to that stop level. 9 points was, perhàps, too far away-

The other three trades that I have open are not doing anything at present.

Split

Hi Split,

What I hate most is the 'doing nothing trades'. Well, after the losing ones of course

One of the reason that I leave my stop buy and sell orders 10 points away from the previous day's high and low is that there'll surely be sizeable movement otherwise my orders won't be filled.

Thanks for raising the issue the other day about stop loss. You made me think about it and I am looking at ways to reduce it. Am thinking at a fixed number of points at the moment. Rewarding losing trades is something I am not comfortable with.

Good trading,

Hung

 

[Splitlink]

I can add some more to Don's explanation. The bit is the metal that goes across the horse's mouth. The back part of the lips is very sensitive and, normally, a slight pull on the reins will control the horse. If the horse bolts though, in a panic , it may get the bit between its teeth and the rider cannot stop him.

Have you thought of getting your price to within that ten points of your stop before entering? I managed to get within within a point or so of yesterday's ABF low this morning but it hasn't moved much all day and I am hoping to get it up tomorrow. However, if you are home for the close you could get out of your trade if you don't think that any good will come of it, with a minimum loss. I've got the risk of a gap against me.-

My REX trade was bought after a spike and I should have left it, I got in at about 9 points above my stop so, of course, it cost me that when I got stopped.

Split

 

[Splitlink]

Hung, I've just remember that you trade breakouts, don't you? That might mean that you could be better off
by using a numerical stop like you say, instead of going right down to the low. Sometimes the low is a hell of a long way down.

Split