Spanish89- Opportunist Trades (2nd journal)

Discussion in 'Journals' started by spanish89, Aug 2, 2011.

  1. Aloha people.

    I started my 1st journal on here back in summer 2008, at the time i had around £1,000 capital and yet needed to earn a fulltime living (£1,500 per month) from my trading profits!

    Thankfully i did extremely well between summer 2008 till autumn 2009, mainly through exclusively shorting crude oil,
    and earnt just under £36,000 net profit from my £1,000 starting capital,
    with every trade i made being live-called and posted IN-ADVANCE in my trading journal! :)


    I ceased trading back in autumn because i wanted to focus fulltime on my main career,
    and also because the market had become extremely dull and slow moving with virtually no volatility whatsoever,
    which made it extremely difficult for me to ever find a good enough trade entry-level (as my style of trading focused totally around catching the retraction after big fast volatile spikes).




    I restarted trading again last week as got an email promo-offer from the SB firm that i trade through saying they would refund any losses upto £250 that i made over the next 10days (providing i deposited atlest £250 and made a minimum of 5trades over those 10days).

    I had originally intended on just having a £250 punt on crude oil to try catching around £100 of risk-free profit,
    however after doing quite well on that trade plus the next few trades that i made,
    and seeing how the market has finally regained some volatility again now,
    i decided to start trading 'fulltime' again... :)

    I already have a reasonably good income from my core job,
    and so have no need or intention on making any trades just out of desperation to try making some money,
    and i hate the stress of having open trades so won't be making any trades just for the sake of having an open trade!
    :)



    I will ONLY ever make a trade when the market has endedup in a position where its an extremely amazingly good opportunity for a trade to be made.

    So it may often be days or even weeks between trades if theres no good enough opportunities over that time-frame.


    I specialise in and focus on trading Crude Oil,
    although i also monitor and occasionally trade the Dow when theres big news events or data.

    I trade AUD/USD and gold, however i ONLY short-sell these 2 markets now.
    (As while they were extremely oversold when i only-bought them back in 2009, they are both now extremely overvalued)

    And i trade equities occasionally, although i ONLY ever buy equities, as i only have any interest in trading them after huge 15-20% intraday crashes, when i then buy them to catch the 3-4% bounce back over the next few days.



    My trading style is ''Opportunist'', not a scalper or a swing trader,
    as i only ever make trades when theres an extremely good entry opportunity.
    My average profit target is between 60-80ticks per trade, and typically expect that target to be hit within 30minutes to 9hours of the trade being opened.




    I will live-call all trades on here as i make them, and explain+post screenshot of chart to say why ive made that trade and what my target level is.

    And so if anyone wants to follow/join me in my trades i wish you very good luck... :)
     
  2. Since the 25th July when i restarted trading i have made the following trades-


    Shorted Crude oil at $98.94 on 25th, cashed in on 26th at $98.27 for 67ticks profit.
    (Was quite happy with my exit on this trade)


    Shorted Oil at $99.02 on 26th, had initial target of $97.86 for this,
    but as market kept stalling and i didn't want to be holidng the trade into the afternoon when the inventory number was released due to the huge gamble of that,
    i cashed in on 27th at $98.73 for 29ticks profit.
    (Was very angry and frustrated as since then oil has crashed down to and floated below $95, but atleast i earnt some cash from it)


    I shorted Aud/Usd yesterday morning at 1.0980 as due to the deal being reached in USA's parliament all the indicies were rallying, the jyp/usd and eur/usd were finally getting weaker after huge strengthend due to the fears,
    and yet there was a delayed-reaction likely due to there being a trading bank holiday over in Australlia so the Aud/Usd was flat-actually up about 0.33%!

    And so i viewed this as an excellent opportunity to short-sell the Aud before USA trading opend at 2:30pm and the market was pulled into line along with the other currencies.

    I shorted it at 1.0980, went to bed, wokeup about 6hours later and cashed in at 1.0902 for 78pips net profit. :)

    (I am extremely pleased with my exit on this trade, as even though i had set an overal profit target for this trade/market down at 1.0689, the market had fallen way too fast and vertically for my liking and so i knew it would likely bounce back up to the 1.0940 before floating/resuming its decline)



    And i bought Juniper for an average buy price of $24.08.

    I bought this contract as the stock crashed down 22% in a few seconds just because the company said they forecast demmand being slightly lower for their product over the 2nd half of this year.

    Im trading this market off the monthly chart, and the vertical line crash of over 800points (nearly 25%) is just way wayyy too huge to not get atleast a 3-4% bounce back within the next 1week!

    My profit target for this trade was $26.05, although due to the huge time delay in the bounce back after this crash ive now lowered my profit target to $24.73 as i want to get free from this slow dull equity market and back into oil for the end of this week.
     
  3. Aloha Spanish89!

    The legend still lives!!

    Good luck mate.. hope you make a killing like last time.. you chosen a good time to restart your trading, markets have just gotten volatile.. next few months should be very interesting..

    btw, dont forget to put your Stops on.. and keep them close..
     
  4. Cheers mate... :)

    Hope your trading been going well too??



    Im currently looking at oil as my chart lines are showing quite decent support at $92.86,
    especially since ist dropped almost vertically from $98 over the last few days.

    However with non-farms in a few minutes, and oil inventories coming in a few hours i wont be risking buying oil today unless it drops ALOT 1st.


    Feeling extremely gutted now that i cashed in my $99 oil short in so early,
    as if id held for few days id have made over 600ticks profit!! :mad: :(



    Have also added slightly to my Juniper long, with average buy price now of $23.96, target is $24.73.
     
  5. Will very likely buy oil at $91.26 if it drops vertically to the low $92s, then floats slowly down to $91.26.


    Although am now feeling extremely angry and gutted that i cashed in my aud/usd short for just 78pips profit,
    when as i mentioned in my opening post id set my target at 1.0693 (287pips),
    which was hit today just 2days after i cashed in my trade!! :mad: :(
     
  6. Just short-sold Gold at 1666.8, target is 1632.5,
    so 334pips profit target.


    Ive made this trade as based on the better than expected jobs number from USA when USA opens im hoping to see money move out of the safety of gold where people have been hiding recently.


    Also gold's rally has got abit stupid and overdone, and so as the dollar continues to strengthen i expect to see the delayed reaction from that hit gold and pull it down abit.
     
  7. Welcome back spanish.God loves to see a money maker returning to the holy church of america.What happened? did you you blow all your profits on young women and alcohol? Or did you put down a deposit on a mortgage?Seen any electricity lying around for the taking recently.. ripped off any banks lately?! God helps those who help themselves son.
     


  8. Apologies for the delay in posting, so not exactly livecalls, but i just found it too much hassle risk wasting time posting livecalls on here and as a result missing out on trade entries or exits with the volatility yesterday.

    Oil did exactly what i had livecalled in advance it would do though, dropped vertically to the low $92s,
    then floated down to a lowest tick of $91.19 (so with the 8ticks spread i got my entry order executed at $91.26),
    and i rejected cashing in for 20ticks profit a few seconds later, and instead added a 2nd long at $90.74, giving me an average buy price of around $90.96 i believe,
    with a target set at $91.65.

    I fuckedup on this trade's exit big time though AGAIN, as instead of waiting for it to hit resistance at 91.56 my finger slipped and made me accidently cash it in at just $91.12 for barely 15ticks net profit!!
    A fraction of a second later it rocketed to 91.34, where i could have cashed in anyways though. :mad:

    (Over the next 45seconds rose in a vertical line upto 91.56/57 though, so atleast i know my S&R levels reading is still perfect, even though i will likely never milk any trade for its full value) :/


    And i should be glad that i made some profit from that trade atleast,
    as since then oil cashed down to the mid $86s, so 400ticks crash after my exit! :D


    Net profit: Approx 15ticks
     
  9. For my Juniper shares long-

    Ive kept my 1 core long trade (as i made it too early and so has remained in a loss),
    but have been adding 2nd and 3rd buy trades as the price fell and then cashing them to nab intra-day/overnight gapup profits as the market bounced back up.

    I have to pay 5points spread per trade, but even after paying that so far the profit ive earnt from these trades is-
    6points, 21points, 14points, 39points.

    So a total net profit of: 70points.



    *Although im currently holding quite a large long trade on this which is at 150points loss currently following the 6.5% crash again yesterday due to the crash across indicies,
    and so ive revised my target exit level to $24.05 due to there being resistance just above there.
     
  10. Hey Spanish!
    Good luck, man. I remember reading your other journal.
    You'll do well my man :cool:

    What's you 'core job'? you mention?
    Im doing this fulltime at the moment, personally.

    Good luck
     
    #10     Aug 5, 2011