Jdtrader - day trading

Ok thats it for today, I got 3 open positions:

Rio Tinto Long 2561
RBS Long 56.1
Cadbury Short 778.2

Demo Account Balance at start today £7,366.71
now at £7,451.71 +£85.00

Not good really as I took profits on Rio Tinto at £65.00 so I traded today to my a profit of £20. The EUR/USD hit me as I do not folllow my Trend Lines and S&R lines and just thought it would drop back, I won't do this again.

RESULT +£85.00
 
JDTRADER said:
Ok thats it for today, I got 3 open positions:

Rio Tinto Long 2561
RBS Long 56.1
Cadbury Short 778.2

Demo Account Balance at start today £7,366.71
now at £7,451.71 +£85.00

Not good really as I took profits on Rio Tinto at £65.00 so I traded today to my a profit of £20. The EUR/USD hit me as I do not folllow my Trend Lines and S&R lines and just thought it would drop back, I won't do this again.

RESULT +£85.00
Click to expand...

Limit just hit on Rio Tinto 2600 +£39.00
Just about to lock in profit and forgot I had my limit at 2600 as I think it will go higher.

RBS & Cadbury only 2 open now.
Acc.Bal £7,490.71

RESULT +£124.00
 


My trading Desk.

I need a new desk with 3 monitors.
1, Trading Platform
2, Charts
3, Bloomberg TV

I had Bloomberg on today and used it like a radio in the background on my PC. When I trade live if I can make a nice profit I'll buy new set up for my trading out of the profits.
 
Just thought I would review some trades:

EUR/USD
My first trade on this was a Long at 1.4538 as of now its at 1.4622 +84 pips but instead I scalped for a profit then when it spiked I went short to many times and hit stops. I must learn to let profits run and lock in profit.

FTSE100
I could see on my chart with the lines I had set up that the chart signalled to me that at 4963 it was a support line and I went Long. Yep got this right its run up to 5017, my R line is 5021 but I locked in profit to close and got a limit at 4083 so +£20 but yet again I got to learn to let profits run. Nice feeling to see my trading plan work. Its showing S&R AT 4963-5017.

Rio Tinto
I love this share, thought it was on the up turn at 2561 and I got this right to. Got a limit at 2600 +£39 but its at 2605 now and still trying to push higher. Got a S line at 2514

S&P500
Well just before the opening bell the FTSE100 was on the rise so I thought on open this could rise. Went long 1035.2 but locked in profit to early and to close. It went on to hit target of 1041 but did not let it run but once again nice to see my trading plan work. Could be now this is 1041.0 the R line ans S at 1034.0

Learnt today to let profits run and try not to scalp a profit but on the whole I had a plan and worked to it ( Well not on EUR/USD). Nice start but its only day one, off to work now. I'm a Cab Driver in London and work nights so won't put as much hours in every day on trading but will do what I can.

If you followed my day or are reading this after I would be greatful for any feedback on my trades...
 
Tuesday 15th Sept 2009

Good Morning Traders

Just re-charted with Trend, S&R lines for entry and exit points.

Lets Trade....................
 
FTSE100
Holding at moment but S&P500 indicating a drop soon ?
If FTSE moves up then it will hit my up trend line for a sell at 5060 but at the moment on my R line so I expect a drop back ?

We will see
 
Rio Tinto
Missed a sell here but the spread is wide on this which put me off the morning. Hit 2633 which is just above my R line so maybe a drop back to 2550 ?
 
No clear direction this morning as yet but my finger nails are getting shorter lol :LOL:
 
S&P500
If it does not drop below 1045 this could indicate the continue in the up trend, if it goes below 1045 then it will bounce at 1040-1037 ?
 
Just to add a disclaimer

i am no trader, these views are my own from a novice trader please do not follow my trades to trade yourself. I am putting in my ideas to review to see if i am right later in the day in order to learn from my own trading.
 
S&P500

Hit 1045.2 should I of took profit here of £21, well if it falls below 1045 I think it could fall further so I'll hang in to see a further fall or a rebound from 1045.2.

Gonna try and let profits run today and resist the urge to take a profit.
 
EUR/USD

Worried a bit here it drop below 1.4600 was tempted to profit there but waiting. 10am (GMT) German report comes out which will effect the EUR not sure if short is right ?

We will see
 
Bank of England Guv Mervin King

Live on Bloomberg 9.45am (GMT)

What he says could effect my positions ?
 
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