Indices

[HPbrand]

9 hours ago, dmedin said:

Huuuuuge gap lower, now I am starting to get pretty f*king worried.

Going long still?

[Caseynotes]

Dow is hanging on to the old monthly support level 24600 while Dax heads back towards S3 10900.

[Caseynotes]

Dailies;

[Caseynotes]

Trading Floor Audio

@TradeFloorAudio

Germany announces economic measures to stall 'corona-crisis' ... AFP Germany announced measures to boost its sputtering economy in the face of the fast-spreading coronavirus on Monday

http://www.rfi.fr/en/wires/20200309-germany-announces-economic-measures-stall-corona-crisis

[Caseynotes]

43 minutes ago, Caseynotes said:

Dailies;

managed to put the ftse weekly instead daily;

[dmedin]

1 hour ago, HPbrand said:

Going long still?

 

I made over a grand at the weekend from my shorts 😮

[Caseynotes]

Dax not really sure what to do here lol.

[Caseynotes]

holding so far on the second attempt to open;

[Caseynotes]

Dax and Dow;

[HPbrand]

4 hours ago, dmedin said:

 

I made over a grand at the weekend from my shorts 😮

Good for you! I got the impression you went the other way.

[HPbrand]

How is the market going to trap us from here? I put a small stake to bet on a rise tonight/tomorrow.

[dmedin]

1 minute ago, HPbrand said:

How is the market going to trap us from here? I put a small stake to bet on a rise tonight/tomorrow.

 

IG has flipped everyone to insane 5 minute charts, which are so volatile you will get stopped out whichever direction you go in.

[HPbrand]

FTSE anyone? US indices were out of action for a long period of time, so I got bored and clicked the sell button on FTSE not wanting to miss out of more opportunities. Never traded FTSE so I am kind of hoping it follows US closely. But so far, I'm stuck on a loss with this fella.

Edited March 9, 2020 by HPbrand

[HPbrand]

6 minutes ago, dmedin said:

 

IG has flipped everyone to insane 5 minute charts, which are so volatile you will get stopped out whichever direction you go in.

Probably not a good time to open new positions due to volatility. Should just rely on previous positions already opened to lock in profits if it goes our way.

[dmedin]

20 minutes ago, HPbrand said:

FTSE anyone? US indices were out of action for a long period of time, so I got bored and clicked the sell button on FTSE not wanting to miss out of more opportunities. Never traded FTSE so I am kind of hoping it follows US closely. But so far, I'm stuck on a loss with this fella.

It'll fall even further than the U.S. indices.  Britain isn't a global power any more.

[HPbrand]

Following my comment earlier about trapping us traders, I decided to increase my short position for tomorrow. The trap is likely to come sometime this week where it shoots through the roof without giving us an opportunity to react quickly enough. Thus, just shorting because we feel comfortable will mean a margin call. 

Edited March 9, 2020 by HPbrand

[dmedin]

4 minutes ago, HPbrand said:

Following my comment earlier about trapping us traders, I decided to increase my short position for tomorrow. The trap is likely to come sometime this week where it shoots through the roof without giving us an opportunity to react quickly enough. Thus, just shorting because we feel comfortable will mean a margin call. 

Short is still the right way to be at the moment. 

[dmedin]

 

 

[Kodiak]

DAX

Lets see if we can close the gap😉

11 400 ish?

 

[Caseynotes]

S&P bounces off the monthly chart support level 2728 (purple) while Dow manages to stay on touch with it's monthly chart support at 24600.

[AndrewS]

On 07/03/2020 at 03:41, AndrewS said:

S&P500 and its yearly pivot.

 

 

 

 

[dmedin]

Governments riding to the rescue of the 'free' markets once again:

Quote

signs of co-ordinated action by the world’s biggest economies

 

https://uk.reuters.com/article/uk-global-markets/stock-markets-and-oil-markets-bounce-after-brutal-flooring-idUKKBN20W365?il=0

Edited March 10, 2020 by dmedin

[Bopperz]

Really glad I brought a 1 day FTSE PUT this morning. Another great trade! 

[dmedin]

35 minutes ago, Bopperz said:

Really glad I brought a 1 day FTSE PUT this morning. Another great trade! 

 

Would you consider buying a call?

[AndrewS]

The problem with buying calls or puts is that the vix mat may topped out .

[Bopperz]

2 hours ago, dmedin said:

 

Would you consider buying a call?

I have been building a long dated call position over the last week. That took a hammering on Monday.

I should just sit and wait now. But thats tricky!

My thinking:

With daily option IV at ~100%, it means that daily vol is in the region of 6.3%, so for the FTSE thats a 380 point move, well above the ATR of 225. Basically, I think the short dated options are very over priced.

[dmedin]

It's not too late for your put yet, today looks like another case of 'sell the rally'

[Bopperz]

14 minutes ago, dmedin said:

It's not too late for your put yet, today looks like another case of 'sell the rally'

I... urm..... cashed out for zero PnL when I wrote that last post.......

I am gutted. This would have offset some of the losses on my long calls.

Edited March 10, 2020 by Bopperz

[dmedin]

2 minutes ago, Bopperz said:

I... urm..... cashed out for zero PnL when I wrote that last post.......

I am gutted. This would have offset some of the losses on my long calls.

Dude ...

Aren't options meant to be held on to, what's the point otherwise? 

[Bopperz]

3 minutes ago, dmedin said:

Dude ...

Aren't options meant to be held on to, what's the point otherwise? 

Mistakes have been made.....

I think today is a perfect example of why I should follow the below steps:

1) Make plan

2) Trade plan

3) Switch off computer and come back 4 hours later.

Edited March 10, 2020 by Bopperz