Ibex just spiked down very steeply and fast over the last 5-6minutes, and so i just pulled the trade at 8965 for £106.50 profit!! I would have loved to have made that trade at a bigger size like £3-4 per ppoint, as i knew it was an extremely high probability trade with extremely little risk of having to lose money on it, however this market has a 340 margin requirement! And so even at just £1.50 per point it was tying up over £500 (25%) of my capital as margin alone! + i have another 50% of my capital tiedup in margin for my Aud/Cad trade. :/ But im still very pleased to have made £106.50 from this trade, which added to the £126 i made earlier, means ive banked £232.50 profit so far today!! And has taken my capital upto £2,340!
I looked and the Ibex has crashed 50points more over these last 10minutes in almost a vertical line, with no more than a few points pullback at any point during that drop, and so im quite annoyed that i missed out on £75 extra when i knew that bloodbath day was going to be forced to come extremely soon... Im now not particularly in any trades, as im only interested in selling currently, but everything has already fallen down too much for me to be happy enough to enter a trade.
Ive just placed a sell order on the S&P at 1218, target for this trade order set at 1201.5. Trade is at £2 per point, and so will bank me £322 cash if it goes through sucessfully..
Your trading seems to be going well? I've Been away from the forums for a few weeks. First time in a long time where i've not been watching the market everyday/posting, but I was offered a short-term work contract that I didn't want to pass up, so haven't been trading much at all. I've missed the markets Opportunity came at an annoying time, because I'd had such a good run nearly everyday making decent money for a good few months - felt as though I was finally becoming very consistently profitable - hope I haven't forgot how to make money trading when I come back to it full time (probably in about a month or so) !!! So you short the S&P now are did you already close it? How many points are you currently making/losing?? (i cant work it out because your numbers are different to mine as i trade futures contracts)
Cheers mate... My trading has been going average i guess. My Aud/Cas shortsell trade entry point was very unlucky as i made it 15mins before some Aud number came out, as soon as the number did the market spiked 60-70pips! So if id merely logged into my trading account 15mins later id have got a entry point 65pips better than the 1 i did! And My S&P trade i made late 1 night after id been drinking very heavily throughout the day + was extremely sad and empty inside, and so i made the trade merely coz i wanted to have something in my life to give me something to do, and so i would feel less empty and bored. :/ Trade entry wasn't horric, i short sold after (as) the market had rocketed nearly 20% straight in 2weeks, and whilst market hasn't crashed back down a few percent yet, the max it has moved against me over the week was just over 2%! And as the market has a typical daily range of 3-4% im fine with my trade.
My Aud/Cad trade has improved quite alot today as the Aussie inflation number came out at 1:30am lastnight and showed inflation had slowed, making it more likely that Aud will cut interest rates soon! They have a ridiculously high rate at 4.25%, whilst every other country has 0.25-1% rates, so im very confident they are going to slash soon. Also the bank of canada's press conference after their rate decsion earlier hinted at them raising rates in the future. However im waitimg for bloodbath day before il cash in my trades! By bloodbath day i mean a day like the dozens and dozens of days we kept on getting for the last 3months with dow crashing 400-500points in a day. And after a 20% rally in just 2weeks bloodbath day is coming very very soon. Im very hopeful that today, the deadline for EU to provide this magic plan that will fix everything, that when they announce this plan the market will crash hard and fast! Especially since this is the final bullet the EU has, and so no matter how great the plan is the next question will be- ''Whats next??'' ''What about if this plan fails or a new crisis happens, what then??''
Still in your S&P trade, mate? I joined you in the same trade this morning before work and it's kicking my ass, lol. I must have already lost the 'knack' since i've been working full time! Hope to re-capture it when I go back to trading full time.
Yep still holding the S&P short trade mate.. I closed my Aud/Cad short trade on thursday at around 2am at the 1.480 level for a loss of £408, and used the £750 margin capital that closing that trade freedup to add an extra short contract to my S&P trade. Was an extremely intelligent move too, as aud/cad had been up in the 1.650 area on wednesday, dipped down the the mid 1.450 area as its lowest on thursday night, before rocketing back up again on friday. So if id not taken the loss on that dip id have had my entire account wiped out nearly! (Although id have retained about 35% of my capital, as 35% of it was tiedup in mere margin requirements!) My S&P trade in the futures contract now has an average sell price of 1,224. Which whilst may not seem great when the market is current at 1,275, those 50points are merely a 4% move against my entry, or in other words the low of a typical daily range for the market. So all i need is 1 'bad' day to get to breakeven, and 2 bad days in a row (6.5% below current level )to reach my profit target which will bank me around £850 profit. And after a ridiculously elongated and overdone 20% move in 1month based on barely any solid fundamentals, my target being hit 1day this week seems quite likely to me.
Good stuff. Just back from work and my positions have been closed out now netting my £550 or so. Was losing me a lot more than that at one point, lol. My last 'add on' was quite near the 'high'. Happy it's worked out, but whilst im away from the screen so much, it's more like gambling than trading, lol. Hope you've done well, too.
Ive taken quite a big gamble... :/ My trade went from an open loss of over £1,500 on Monday morning, to an open profit of over £400 on tuesday afternoon... However S&P only got down to the 1209/1213 level, whilst my target was 1196.5 (although would have taken 1204.5 support). And so i turned down that £400 profit, to try holding out for 1 more 2-3% down day. I now just so soo much hope this fucking imf meeting tomorrow doesnt get everyones hopes up and cause another rally or i could be fucked completely!