Nice journal... maybe it's already been discussed, but had you considered going long the warrants and short the common at flat delta? Would lock the arb, but you'd have to allocate for a much larger haircut.
Thanks . I did actually but due to account size constraints I decided that it was a better risk/reward to just do an outright position. Eventually I ended up getting out of the common stock position outright and putting that more into the warrants which have a much better value for appreciation in case the buyout is complete and even if the buyout is cancelled it will trade significantly above my entry point.
Wish I gave signals. Have you seen the rates the other signal providers charge? 200-500 bucks/month often on methods based on unsound principles . :eek: Oh well I will stick to managing the few client accounts.
Equities Not too bad. Action is good although nothing big like yesterday. Notable was TKO which slipped on less than 1/4 daily volume. Not too worried about that. Considering the very large short float we will have a lot of propellent for upward movement. Not as exciting as FX but calm and steady. Return Equities (since starting journal): +5.21%
Equities Well as soon as I finished saying TKO was down 2% or so on 1/4 volume, it began moving up rapidly! TKO up some 8.66% on strong volume. There was no news release so this is probably some heavy buying from an entity or possibly short covering although I think it is the former. Overall however, the screen picks are following the market south but not too worried about them. Return Equities: +7.13%
FX Well nothing much to say about today other than that it was one heck of a fast moving market on the currencies. I wasnt fully prepared for the move as I closed down those 4 trades at a loss because of the bug but it was still a very nice ride upwards. Still shorting the dollar against 4 currencies (EUR, GBP, AUD, JPY) with stops in place that locked in a quite a bit of the profit. Will be interesting to see the market reaction. I dont expect any big moves to occur today as the markets anticipate the NFP release. But I would love to be proven wrong with a break south through this current support! Return FX: +46.04% Blotter: http://img.villagephotos.com/p/2005-8/1064681/accountequity2.GIF Equities It was a rather mixed day. The broad indices were also mixed in results. However the day ended with a nice profit due to the short BIDU position which moved back into positive territory and the very big 12% move on TKO to the upside. I am pretty much fully invested in equities in both directions and cant really find any more opportunities out there. Return Equities: +7.75%
FX Another move to a lows for the US dollar. My account has a return of 50% now. Closed off the USDCHF short with a 287 pip profit and closed off EURUSD long with a 299 pip profit. Still holding USDJPY short and AUDUSD long each sitting with 111, and 81 pip profits respectively. Even though my account has gained quite a bit of ground I still consider my trading to have been very mediocre. Programming bugs really has cost me some big money with longs on gbpusd which would have been up above 350 pips and trades on eurchf, eurgbp, and usdcad all with very good profits. Was a steller opportunity to make 1K pips in a span of 36 hours. Lets see if NFP will give a nudge in our direction on the two dollar short trades currently held. Will update after NFP.
FX Ended a very fast moving and trending week. Solid trades made overall. Due to the volatility occuring during the NFP the positions were exited out. Overall even with all the problems with programming bugs and computer restarts ended the week with a pretty nice gain. Return FX: +48.13% Equities A pretty mediocre week overall. Positions are all in the net positive other than one (RLI). The week ended nicely positive primarily because of the nice bottom catching play made on TKO which netted a cool 28% in three days. Return Equities: +8.66%
Very nice journal !!!! I think I will duplicate it and open a journal on forex trading !!! Thumbs up and keep at it