Magpie Trader
Tuesday, November 22, 2005
21/11/05
Short cable 1.1767, closed at 1.1785. Sold the dummy/head fake quite convincingly.
-36
Long cable 1.1805 closed on a limit at 1.1831
+52
+16 on the day
-36
Long cable 1.1805 closed on a limit at 1.1831
+52
+16 on the day
Friday, November 18, 2005
WE 18/11/05
Thursday, November 17, 2005
16/11/05
Short cable 1.7341 SL 1.7671
edit: SL moved to 1.7315, decided not to take half of original entry
SL moved to 1.7215 this morning
(+252 locked in)
edit2: Stopped out
edit: SL moved to 1.7315, decided not to take half of original entry
SL moved to 1.7215 this morning
(+252 locked in)
edit2: Stopped out
Tuesday, November 15, 2005
WE 11th Nov
WE 4th Nov
14/11/05
The cable limit on Friday was triggered, but it failed quite spectacularily, moved SL to breakeven +1 and left it.
+1
Monday:
Went long cable 1.7452 x 2 thinking this could be the promised rise to the heavens for christmas and closed at 1.7465.
+26
Shorted again at 1.7463, took half on a limit at 1.7448 and left the rest to run with SL at BE +1 as it made a C down, left an exit limit at 1.7355 as a double bottom seemed likely and went to bed. Nice way to wake up in the morning.
+15
+108
The COT data is still saying the big boys (and girls) are long. The range is 1.7350 to 1.7500 so will be looking to play that until there's a concerted move in either direction - presumaeably north, but you never know for sure.
+1
Monday:
Went long cable 1.7452 x 2 thinking this could be the promised rise to the heavens for christmas and closed at 1.7465.
+26
Shorted again at 1.7463, took half on a limit at 1.7448 and left the rest to run with SL at BE +1 as it made a C down, left an exit limit at 1.7355 as a double bottom seemed likely and went to bed. Nice way to wake up in the morning.
+15
+108
The COT data is still saying the big boys (and girls) are long. The range is 1.7350 to 1.7500 so will be looking to play that until there's a concerted move in either direction - presumaeably north, but you never know for sure.
Thursday, November 10, 2005
11/11/05
It's my cousin's birthday today - so happy birthday mate, how old is it now? ;o)
With limited charting access only a longer term approach applies so a limit buy on cable at 1.7479. Only going for half the usual trade size so a larger SL in place at 1.7435. To me it looks like a 123 bottom so the usual entry above the '2'
With limited charting access only a longer term approach applies so a limit buy on cable at 1.7479. Only going for half the usual trade size so a larger SL in place at 1.7435. To me it looks like a 123 bottom so the usual entry above the '2'
10/11/05
looks like the net connection and phone is not going to be happening tonight either, they don't know why... So, looking for another provider today
Tuesday, November 08, 2005
08/11/05
Long CAD 1.1916 SL 1.1890
The COT data and charts are showing a heavy upward bias. Only gone in for half my usual as it's a previous day high break. Will look to see confirmation on a time stop before an exit.
Short Cable 1.7375 SL 1.7395, bounce off the pivot range and previous days high
edit: The internet and phone went off last night which was pretty handy, so ended up calling the UK on a mobile to change orders. Telecom have sent an engineer out today so with some luck we'll be back on. Wrestled with changing the CAD SL, but it ended up ok at 1.1875. Put a limit exit at 1.1945 due to the pivot and camarilla - the cam level was an H4 breakout area and price either punches through and keeps going or spikes through, it actually went to the 1.980 area and returned south with a couple of hourly hammers. I didn't want the risk due to the lack of charts, hence the limit exit.
The cable trade was interesting in that there's heavy support around the 1.7350. Closed half the order at 1.7372 and left the rest. Moved the SL out to 1.7405 and put a limit exit at 1.7350. Any winnings were probably halved as I phoned every 15 minutes to see what was happening.
+ 29 CAD
+28 cable (+3 and +25)
The COT data and charts are showing a heavy upward bias. Only gone in for half my usual as it's a previous day high break. Will look to see confirmation on a time stop before an exit.
Short Cable 1.7375 SL 1.7395, bounce off the pivot range and previous days high
edit: The internet and phone went off last night which was pretty handy, so ended up calling the UK on a mobile to change orders. Telecom have sent an engineer out today so with some luck we'll be back on. Wrestled with changing the CAD SL, but it ended up ok at 1.1875. Put a limit exit at 1.1945 due to the pivot and camarilla - the cam level was an H4 breakout area and price either punches through and keeps going or spikes through, it actually went to the 1.980 area and returned south with a couple of hourly hammers. I didn't want the risk due to the lack of charts, hence the limit exit.
The cable trade was interesting in that there's heavy support around the 1.7350. Closed half the order at 1.7372 and left the rest. Moved the SL out to 1.7405 and put a limit exit at 1.7350. Any winnings were probably halved as I phoned every 15 minutes to see what was happening.
+ 29 CAD
+28 cable (+3 and +25)
Tuesday, November 01, 2005
01/11/05
Still long 115.71 USDJPY from yesterday
--SL moved to 116.42
+24 (+71 locked in)
closed at 116.49
+102
------------------------------------
long EURJPY 139.86 SL 139.63
edit: 1 taken at 139.96 SL moved to BE +1
Stopped out +11 - read the wrong camarilla pivot figure and now realised it was H4 it was breaking not H3... missed another entry now
-----------------------------------------------
Short cable 1.7710 SL 1.7733
edit: 1 taken at 1.7695 SL moved to BE +1
stopped out +16
Short 1 cable 1.7685, broken the low of the 1-2-3 SL 1.7720. Off to bed so limited risk. Looking initially for 1.7600 TP, then 1.7500 become a support area.
--SL moved to 116.42
+24 (+71 locked in)
closed at 116.49
+102
------------------------------------
long EURJPY 139.86 SL 139.63
edit: 1 taken at 139.96 SL moved to BE +1
Stopped out +11 - read the wrong camarilla pivot figure and now realised it was H4 it was breaking not H3... missed another entry now
-----------------------------------------------
Short cable 1.7710 SL 1.7733
edit: 1 taken at 1.7695 SL moved to BE +1
stopped out +16
Short 1 cable 1.7685, broken the low of the 1-2-3 SL 1.7720. Off to bed so limited risk. Looking initially for 1.7600 TP, then 1.7500 become a support area.
closed this morning at 1.7633 as TP missed by a few pips.
+52
New tack
In a couple of weeks the blog will be changing tack from a trading point of view - I'm going to go on a journey of increased trading discipline. I have my system that I'm happy with, my money management is adequate but needs longer term 'living with it' analysis. So, Although i'll be trading normally, I'll also be trading another account with a very small starting budget that will teach me the value of trading in a very disciplined manner in order to not affect margin or put the account through too much strain. The figure is yet to be decided and will be in pounds, it'll be with Deal4free (UK spreadbeting company) and i'll post a screen shot of results at the end of every day traded.
My intention with is exercise is to quite simply learn more, especially the intricacies of money management in relation to the signals that the system generates. For example, the signals are in the process of being graded for profitability (from a historical view point) and this will be looked into with a view to clearing some of the greyer areas. Effectively this will be my live thesis on trading, how I understand it and proof for the future. Trades will be documented in detail with a view to provide a document over time that will provide a concise framework from a trading signal and related money management point of view.
It will also force me stay away from overtrading for good, due to lack of funds in the account. Over trading is my main problem and although it's reduced by a considerable margin it raised it's ugly head recently and put a serious dent in the profits.
It's set up at Magpie trader - a new tack
My intention with is exercise is to quite simply learn more, especially the intricacies of money management in relation to the signals that the system generates. For example, the signals are in the process of being graded for profitability (from a historical view point) and this will be looked into with a view to clearing some of the greyer areas. Effectively this will be my live thesis on trading, how I understand it and proof for the future. Trades will be documented in detail with a view to provide a document over time that will provide a concise framework from a trading signal and related money management point of view.
It will also force me stay away from overtrading for good, due to lack of funds in the account. Over trading is my main problem and although it's reduced by a considerable margin it raised it's ugly head recently and put a serious dent in the profits.
It's set up at Magpie trader - a new tack
