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Trade of the Month


Guest DanC

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Hi JB ,

 

Good move locking in a few pts with the stop.  I agree - it is a tough market at the moment.  I am always watching, not trading heavily. 

The ASX is tricky at the moment with all the company announcements, on top of the international forces.  The moves the past few days are massive - but I've been out and missed the start of moves, then it's like trying to catch a wave without paddling.  So frustrating.  One false move too and it's over (I don't use stops).  As well the XJO, what the binaries are settled on, is moving a bit independent of the SPI - which can really mess up binary strategies. 

So I don't mind having an easy week with all of this going on. 

YET I just sold at the bottom of the morning's move and got a good price on a 1pm 1-Touch binary, which expired at 0.  I actually could have posted it too for other's to share - there was about 10mins where it looked like I was going to lose my lunch (when I could have posted and it was still priced quite well), but then it was safe-as.  IG were a bit "sneaky" (to be polite) re-pricing the binary in their favour over the move.  I knew it was going to be safe after a while, so should have sold more in response to the re-pricing (meaning their fiddling would have worked against them if I sold).  It is probably just money moving in and out of the binary and not manual intervention.  Well I hope so. 

 

Good trading - I guess I hope the Kiwi strengthens :) - only because you're in the trade...

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Hey Zero,

 

Thanks mate.

I gotta bad feeling watching the Kiwi move this afternoon. Could be doing a reversal hence my stop moved to lock in a little.

Probably should just take profits but here's hoping. (hope has never been a good strategy)

 

Good to see youre making a little.

All the best,

 

JB.

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Yeah,  I had a look earlier today after seeing your trade and thought - good entry! but what just happened at 11am?  Seems to be the norm at the moment. So I'd be cautious too. 

 

Even today the ASX had an amazing close - cash jumped 8pts, and IG had some 1-Touch way too cheap on the close (in hindsight) - nothing they could do, but they'd be annoyed paying out on that.  I'm not sure if RIO has announced but there's that lurking in the background. 

 

This week I've seen some moves I've never seen before, so like you said, a tough market at the moment.  Or maybe it is just us? 

Anyone else trading? - feel free to comment...

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I had a horrible night/morning - trying some new things - and now knowing why I was reluctant in the past to trade in the night session.

I was a bit early getting in, then I pentrupled down - made up word - 5 times double down to have a ridiculous exposure - all going against me and put on with a stupidly wide spread (on the ASX - the volatility kicked up the spread).

 

I had to bail this morning of course and hoped to get out once the normal day session of the SPI opened (and the liquidity normal).  I had some limit orders in guessing where I could get out - taking a loss but nothing like what I was sitting on. 

 

The thing is - IG were amazing.  Filled my limit orders on the open (9:50am) with no dramas.  For a large number of contracts.  No slippage, nothing.  I think it's brilliant.  Helped by the fact my loss went from about 7weeks worth to 1 day's worth (on average). 

So that definitely makes amends for the shonky glitch that affected me earlier in the year.  By far. 

 

Now I'd be in profit!  So JB - you know what that's like

 

YET I can't say how amazing IG were to be able to do what they did.  I understand the complexities of it so really appreciate their ability to do it.  Thanks - Cheers. 

 

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Hi JB - a nice problem to have. 

I don't know - as I have no real feel for the markets at the moment - watching the SPI it is just not falling like Europe or the US.  Or the clowns here buy the dips still. 

So if I was you I'd keep tightening (or widening depending on where you reference it from - the spot or the entry?)  that stop or put yourself in a more positive position pyschologically (if you're sitting on a net loss for eg for the week and can bring that back to neutral or positive).  Yellen didn't give any excuse to bounce, so wonder what will be used now to conjure one? 

 

 

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HI JB,

 

After the past days move - well IG's prices as the US has been closed - is your short SP still live or have you locked in some profits?  I saw IG were at/near your stop level.

 

It's a little nut-z out there (just typing to avoid the auto-censor)...

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Hi 

 

Are there any levels that you are going to be looking out for? The FTSE has been having a battle over the 6000 level and the thoughts on many traders minds are will it sink or swim. With so much Fundamental news being released traders are trying to determine what is the leading light for the next phase. 

 

Keep an eye out for some of the posts that our analysts produce as they do paint a great picture about the techncials and fundamentals of the major markets. 

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It's a bit of a worry that no one seems to trade...?  Or posts trades.

 

I would if I could - this week I've had three trades, opportunitistic ones which were put on within a few minutes of the lockout (for binaries) or just two minute trades.  Hard to give any heads up about that. 

Yesterday I was going to post that the low was set early, but the 1-touch binary was already priced down due to the quick bounce. 

So I am a bit unhelpful in posting trade ideas as I am short term intra-day.  If anyone was actively watching and could react within a minute or two - and would trust a stranger's post - then I might be helpful. 

 

I am not pushing things at the moment - happy to make a few good trades then sit.  I may leave a lot on the table, but at least I'm not mucked around by the "craziness" (like last night). 

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Big move by the Yen pairs last night.

 

Daily reversal to the upside on AUDJPY

 

I will go long if we follow through.

 

Buy at 82 with a 70pip stop

 

GBPJPY 

 

Will Buy at 159.60 with a 90pip stop

 

Anyone else doing anything?

 

Cheers,

 

JB.

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Hi JB,

update: I'm out now (possibly a little early) and expect a correction to around the 1240 ish level when I'll attempt another long entry. Assuming my analysis is correct, the next upward move after the correction will be much stronger, let's see........ Of course if my analysis is completely wrong then I'm pleased to have taken the money and ran :)  

 

How are you doing?

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So I closed out the GBPJPY way to early last week. Thats trading.

 

Looking to enter long NZDJPY if it can break 77.65 Stop at 77.05

Looks like a double bottom on the chart.

I entered CADJPY late friday at 85.23 with a Stop at 84.80

 

Good luck guys.

 

Cheers,

 

JB.

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Good luck JB,

 

While I'm waiting to make decision on GOLD I've just entered and sold US Crude @ 3785. I believe that 3809 is the top of the recent correction  and there'll be a test of the 2605 low in the coming weeks, my call, lets see what transpires.

 

Good luck to all

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