Live & Die by the sword....

[FetteredChinos]

taken a june long at 4986


longs: 1@4986
shorts 7@ 4950

closed profit: +4 (zipperdy doo-dah)
open profit : (224) (sheesh)


well, we're getting there slowly..

eased off a bit of the position, which reduces my exposure somewhat..

hopefully we will get a close below 4950 on tuesday, after the european referenda fallout...

 

[kriesau]

taken a june long at 4986


longs: 1@4986
shorts 7@ 4950

closed profit: +4 (zipperdy doo-dah)
open profit : (224) (sheesh)


well, we're getting there slowly..

eased off a bit of the position, which reduces my exposure somewhat..

hopefully we will get a close below 4950 on tuesday, after the european referenda fallout...

Just discovered this thread FC - I admire your temerity in making your daily trades and subsequent results public. I wish you ultimate success with such a bold venture.

A few questions:
1. What is the average length of your stops.
2. Are you including or excluding the spreads from your P & L summary scorecard.
3. You seem to be mixing Daily Cash and June contract trades. What criteria are you using to determine which one to use on any given day.

 

[FetteredChinos]

hi kris, only just seen your reply, hence the tardy response..

1) average stops are catastrophe stops at circa 500 points at the moment.. i rely on other methods of working my way over positions..
2) the P&L summary is net of spreads so far. no point not including them.. besides, its easier to just see the effect on my trading platform, too much time and effort to add back all the transaction costs.. im a lazy bugger, remember lol
3) yup i mix the cash and the futures.. partly because it is easier to monitor the opening and closing of postions, without needing to use a scrap of paper to piece together what is going on, and also because i want to minimise the cost of carry etc.. by going short on the cash, you receive the interest, which slightly offsets the time erosion on the futures contracts.. if i was to hold longs on the cash and shorts on the futures, it would be a lot worse!!

toodle-oo

FC

 

[kriesau]

hi kris, only just seen your reply, hence the tardy response..

1) average stops are catastrophe stops at circa 500 points at the moment.. i rely on other methods of working my way over positions..
2) the P&L summary is net of spreads so far. no point not including them.. besides, its easier to just see the effect on my trading platform, too much time and effort to add back all the transaction costs.. im a lazy bugger, remember lol
3) yup i mix the cash and the futures.. partly because it is easier to monitor the opening and closing of postions, without needing to use a scrap of paper to piece together what is going on, and also because i want to minimise the cost of carry etc.. by going short on the cash, you receive the interest, which slightly offsets the time erosion on the futures contracts.. if i was to hold longs on the cash and shorts on the futures, it would be a lot worse!!

toodle-oo

FC

Cheers FC - you're a brave man running such long stops !

Surprisingly the French 'Non' to the EU constitution hasn't really negatively impacted the European markets. The Dax is currently up 26 pts (not good for my short ) and the CAC40 is only down 9 pts while FTSE futures are flat around Fridays close.

Hope the FTSE turns down over the next few days to enable you to closeout those shorts !

 

[FetteredChinos]

taken another june long at 4967


longs: 2@4977
shorts 7@ 4950

closed profit: +4 (zipperdy doo-dah)
open profit : (95)


nicely dropping now... things are getting back into order.. hopefully the sell off will continue into tomorrow with a bit more force..

FC

 

[kriesau]

taken another june long at 4967


longs: 2@4977
shorts 7@ 4950

closed profit: +4 (zipperdy doo-dah)
open profit : (95)


nicely dropping now... things are getting back into order.. hopefully the sell off will continue into tomorrow with a bit more force..

FC

Ouch - the Dow surge has pushed the FTSE back up to 4998 !

 

[FetteredChinos]

righty ho.. closed off longs at 5012 for +71

taken another short at 5006 on the cash


longs:
shorts 8@ 4957

closed profit: +75 (yippee)
open profit : (416) (not so yippee)

not quite going according to plan, but at least we got to bank some profit, and short from a higher price..

this market is looking ludicrously toppy at the moment..

FC

 

[kriesau]

righty ho.. closed off longs at 5012 for +71

taken another short at 5006 on the cash


longs:
shorts 8@ 4957

closed profit: +75 (yippee)
open profit : (416) (not so yippee)

not quite going according to plan, but at least we got to bank some profit, and short from a higher price..

this market is looking ludicrously toppy at the moment..

FC

FC - what spread do you have to pay to roll over your daily cash short futures ?

Are you still bullish on the Dow reaching 10750 this month ? If so, don't you think that this could carry the FTSE up toward this years February high of 5078 ?

 

[FetteredChinos]

as im short the cash, i am receiving in between 0.38 and 0.75 per position short..

the futures dont have a direct "penalty" for being long on them,..


viz my post on the dow thread.. i dont think 10750 will be hit, not just yet anyway.. shame it didnt get it last month..

we moved up some 600 points, give or take from last months lows.. thats my cue to S&R and go short the Dow..

should bring the FTSE down with it, though it has been pretty resilient lately...

5078 is unlikely, IMHO before end of July...

 

[kriesau]

as im short the cash, i am receiving in between 0.38 and 0.75 per position short..

the futures dont have a direct "penalty" for being long on them,..


viz my post on the dow thread.. i dont think 10750 will be hit, not just yet anyway.. shame it didnt get it last month..

we moved up some 600 points, give or take from last months lows.. thats my cue to S&R and go short the Dow..

should bring the FTSE down with it, though it has been pretty resilient lately...

5078 is unlikely, IMHO before end of July...

FC - I've never traded Cash so I'm not quite certain what you mean by receiving 0.38 & 0.75 per position short. My SBC charges half the spread for a rollover on a monthly contract but I've never checked out the position on a Cash trade. Are you going direct ?

Also "S & R" ??

 

[FetteredChinos]

S&R stop and reverse.

with regards to the cash.. think of it this way..
if you were long and trading on margin, you are effectively borrowing money to fund these positions.. hence the interest charge (LIBOR +/- a figure)

short is the opposite.. you are in the position of lending, and so you receive an interest payment....

 

[kriesau]

S&R stop and reverse.

with regards to the cash.. think of it this way..
if you were long and trading on margin, you are effectively borrowing money to fund these positions.. hence the interest charge (LIBOR +/- a figure)

short is the opposite.. you are in the position of lending, and so you receive an interest payment....

Gotcha - cheers.

 

[FetteredChinos]

hmm, took a long on june futures at 5013




longs: 1@5013
shorts 8@ 4957

closed profit: +75 (yippee)
open profit : (394) (not so yippee)

largely uneventful day...

FC

 

[Tuffty]

"the purpose of this thread is to simply try to ram some discipline into this tiny brain of mine, forcing me to trade my system as i had originally designed it"

Fettered, How can I monitor if this thread is working for you or not? Have you deviated from the system or not? Shouldn't you show Signals Taken x, signals over-ridden y, rather than p/l? Oh yes, and do you think you're a ACMA now?

 

[FetteredChinos]

lol good point tufty...


thus far i havent deviated from the system, or skipped trades (major previous problem)

and in this respect, this thread IS working, if not the P&L... maybe i was better off skipping the trades lol!


as for ACMA.. not quite... had a major howler, and also a minor one.. possible 2 passes from 3...

not sure though.

fc

 

[Tuffty]

Well done fettered. If the system was tested OK then the p/l should come out good. In the mean time during the draw down I'm sure it will severely test your need to want to do some 'skipping'. Don't pick up that rope now.

 

[kriesau]

Well done fettered. If the system was tested OK then the p/l should come out good. In the mean time during the draw down I'm sure it will severely test your need to want to do some 'skipping'. Don't pick up that rope now.

I agree with Tuffty - but it's still a tough call to persist with each new trade when you're coming from behind (so to speak ). If the system worked when tested stick with it. I was guilty last month of skipping some trades and I missed out on a couple of hundred points gain as a result.

Major European markets really flat today - I guess they're waiting to see the next major directional move in the US.

 

[kriesau]

hmm, took a long on june futures at 5013




longs: 1@5013
shorts 8@ 4957

closed profit: +75 (yippee)
open profit : (394) (not so yippee)

largely uneventful day...

FC

FC - a chartists view from Bill Adlard that you might find encouraging, given the number of short positions that you are currently holding.

His summary was as follows:

One can probably sum up the challenge facing the FTSE now by saying that the FTSE must rally above 5000, turn it into support, and keep going up to new highs if it is to demonstrate that it has got some real upside potential and that my analysis (that it has topped out) is wrong. If the FTSE fails to make a new high (above 5077.8) and then dives back below Wave 1 low (4773.7) it will be a major piece of evidence that the FTSE has topped out and should lead the FTSE down to at least 4500 - 4550.

Good luck this month.

 

[kriesau]

Closed at 4998.5 today. Maybe Adlards chart interpretation is on the right track !

 

[FetteredChinos]

strange day again... volatility seems to be drying up for summer...

long on futures at 5006


longs: 2@5010
shorts 8@ 4957

closed profit: +75 (yippee)
open profit : (343) (awoogah warning)

hmm, making progress.. still sticking to the system..

been doing some investigating on Bollingers on FX.. seems to be quite a promising strategy when coupled with RSI.. might paper trade for a while..

uh oh... indicators... not good. someone strike me down now!

FC