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Articles: 1, 2, 3, 4, 5, 6, 7

All the trading rules broken!!
2008-05-16 22:02:00
I haven’t been trading enough this week so I was eager to get stuck in today. My first trade was a short at 12922… the market had already come off a 50% Fib level and I was thinking that it had further to go. I had missed the move as it fell (as I had only ...
More About: Trading , Rules , Broken

Are my sums right? A share that is 83 times below it’s asset value?
2008-05-15 23:17:00
I don’t usually buy shares as it’s buy and hold and sometimes you have to wait ages for it to move. I also think that shares are driven by fundamentals and news driven.. you just don’t know what a company may report! My personality suits daytrading (though I’m not a Greg Coffey or Gordon Gecko) in skill, only ambition! Anyway, about 2 months ago, I was looking at a share called Tower Resources and there was speculation that there were some large prospects there. I am not usually keen on buying shares for the reasons previously and also because I was one of the mugs who bought Marconi when it fell and fell and became nothing. I also bought some others losers in the dot bomb crash. Well, I purchased the share at 3 pence and today, they announced that there was oil in their exploration areas and it peaked to 11.25 pence!! I put in just £1000 and at it’s peak today, it was worth just under £4000!! I personally think there is more upside to come, if you ...
More About: Share , Times , Asset

That dreaded trading psychology again!
2008-05-13 21:33:00
I’m back on my spreadbetting account trading the Dow Jones. My first trade was a decent short I felt as the stochastics were overbought and the MACD was showing negative divergence… it’s gotta be heading downwards. Indeed, it did head lower but only 10 points so before it headed higher and hit my stop. I was ...
More About: Trading , Psychology

Spreadbetting the Dow Jones - restarting my trading after the Trading Acade
2008-05-12 21:37:00
I have been hunting high and low for a suitable trading platform…  I now realise that the CQG trader platform which I was using before was simple but great! At first I thought it was a bit basic for my liking but so long as it worked reasonably well and I guess it’s also what ...
More About: Dow Jones , Trading , Jones

Trading update! Where have i gone?
2008-05-09 19:37:00
Hello all, sorry there has been no update for a while. I am trying to get myself set up again with a trading account with Interactive Brokers and to also find a suitable charting platform. The trading academy have closed my account and I had got used to their charts. I want to recreate the ...
More About: Trading , Update

My Life Update - trading, blogging, money etc
2008-05-04 14:20:00
I’ve been so busy with things that I’ve not had a real chance to reflect on the happenings around me. Anyway, circumstances have unfolded which have allowed me to take some time out and reflect and look back on what I have achieved (or not achieved) and done. As you know, I started this blog just ...
More About: Life , Money , Blogging , Trading , My Life

Day Trading the Fed
2008-04-30 21:48:00
I totally forgot about the Fed today, it was only when my trading mentor phoned up to tell me about it, I closed my initial trade for a scratch trade at 139725. Typical, they only call me up when they want me to do something. Anyway, I waited for the Fed result to come out and ...
More About: Trading , Day Trading

Held out for a loss - Daytrading the S&P
2008-04-29 21:31:00
I figured that there is no point in grabbing small profits and also no point in getting out of a trade unless conditions change… I read that somewhere from a top trader in a book. Anyway, I think my short was not a bad entry at 139325. The 1 min stochastics had eased off and the ...
More About: Loss , Held

Not a trading inspiration - myself
2008-04-28 22:23:00
I haven’t heard anything from my trading academy despite me leaving numerous messages with them to call me. I have a deadline of the end of this month to bring my account to the black. Anyway, I started my trading with a loss, -5 when I shorted at 140225 with a stop at 140400. As the ...
More About: Inspiration , Trading

Trading inspiration - Greg Coffey of GLG
2008-04-27 20:58:00
Every Sunday, I get a copy of the Sunday Times. The first section I read through is the business section and today, there was an article about supertrader, Greg Coffey of GLG.   The big news is that Greg, who earned £150 million last year from his company has quit and looking to start his own firm. Surely, that sort of cash is enough for any man? Anyway, I don’t think it was about how much cash he got but the proportion he got. He brought in 60% of his firms revenues yet his bosses took home £400 million! What inspired me was that he came from relatively humble beginnings as a graduate from Australia. He work on George Soros’ Quantum fund and when that went belly up, he was introduced to GLG. His start was quite menial, he was just putting in orders for the senior traders. However, he worked his way up and eventually had his own fund to manage. This is all in a relatively short time frame… he is a mere 36 years of age. It just goes to show that it is possible ...
More About: Inspiration , Trading

Riding the peaks and troughs of the S&P but not very well
2008-04-24 22:22:00
Today I thought to myself that if I could ride the peaks and troughs of the market, I could capture more of the profits. I am finding that I tend to chicken out at about +10 prices or so…. if I am to capture more profit, I’ll need to ride through a couple of peaks ...
More About: Riding

Almost a profitable day!!
2008-04-21 21:57:00
I traded a few times today.. the first was an easy short as the market fell below the MA line confirmed by stochastics and MACD. The second and third trade, I really should have been a bit more careful. I was expected a move lower but the stochastics were already showing oversold levels.. I should ...
More About: Profitable

18th April - A long trading day
2008-04-20 23:00:00
I got my Friday off and therefore had more time to trade. I made a series of trades as you can see from the chart. First trade was a short at what I thought to be the forming of a triple top. The price action had indeed moved down a tad and I had caught it ...
More About: April , Trading , Long

Still nothing from the trading academy
2008-04-17 23:04:00
I still haven’t heard anything from the trading academy…  I continue to trade as it’s about learning and if they terminate my contract, I will set up my own account and continue. I feel my trading is making progress and it’s a matter of time before I make it. If the trading academy can’t see ...
More About: Academy , Trading

Triple top??? - NOT!!
2008-04-16 20:36:00
I shorted here at 135900 thinking we had got a triple top.. in fact, the market shot away and blasted into space. I was gutted and took a 14 price hit. I still haven’t heard from the trading academy which I take to be bad news..  however, I’ll give them a chance to respond to me ...
More About: Triple

Trading academy news and trading psychology
2008-04-14 21:18:00
I didn’t tell you guys but last week I received a letter from my trading academy to say that I was 9 months into my trading program and that I had the end of this month to restore my account back to above negative. I had racked up almost $4000 in losses for them on ...
More About: News , Academy , Trading , Psychology

S&P trading - need to see the trendlines!
2008-04-11 22:35:00
Today wasn’t a good day.. I’d been doing rather well recently and today, I let myself down. It was an obvious mistake in hindsight but the markets aren’t very forgiving.. you make a mistake and you get taken to the cleaners. As you can see I went long at the two positions as shown. The stochastics ...
More About: Trading

S&P trading - watched on the sideline!
2008-04-09 23:04:00
I got home a tad late today and was unable to trade once again!! Arrgh, frustrating. Anyway, had a look at the market and even if I got home at the usual time, there wasn’t really much movement. The market had already done the majority of it’s move for the first few hours from open.. ...
More About: Trading

Made money without even touching my trading platform!!
2008-04-09 00:09:00
Hi all, I wish I had found some sort of loophole or something amazing to tell you but in truth, I made £150 (or about $300 USD) by taking part in a focus group to talk about IT technology for two hours after work and hence I didn’t get a chance to trade the market. I’m looking ...
More About: Money , Trading , Made , Platform

Trading the S&P - same old, same old!
2008-04-07 20:40:00
I have not traded since last Tuesday due to birthdays and some evenings with friends. I was doing quite well with my last couple of trading sessions… I’m still on the live account the last few trading days have not been too bad. I was dead eager to get back in again but being eager could ...
More About: Trading

Free Currency Trader magazine - April 2008 now out
2008-04-05 10:47:00
Visit below to grab your FREE copy! http://www.currencytradermag.com/ 
More About: Magazine , Ebooks , April , Free , Currency

Trading the markets - NOT! Back on Monday
2008-04-03 22:48:00
Today was the other half’s birthday so I took her out for dinner. No trading today.  No trading tomorrow either as I’m meeting an old friend for some drinks and dinner. Will be back on Monday , at least it’s been a winning week
More About: Markets , Trading , Back

Sometimes the best trade is no trade
2008-04-02 22:06:00
I got home today rather late. I met up with a friend after work and we had a couple of drinks. By the time I got home, there was only an hour left of trading and I didn’t see any entries. The stochastics in the 5 mins were turning up so long trades only but there ...
More About: Trade

Hold onto winners, hold onto winners!!!
2008-04-01 21:07:00
I’ve mentioned previously about holding onto winning trades and cutting your losers. I am great at cutting out my losing trades early but holding onto winners? The urge to take profit early I think is my current weakness. The sight of profit gets me salivating! Anyway, my first trade was a short at 136125.. the market ...
More About: Winners , Hold

The trading rules applied!
2008-03-31 22:29:00
I had a lot of ‘rules’ in my head today regarding my trading which I wanted to adhere to. They were: Only trade when there is a signal, wait for confirmation before entry Try and hold out for greater profits, move stop loss to next level each time the market moved my direction Try and be objective, resist the ...
More About: Trading , Rules , Applied

Waaaah! Trading dilemma - Daytrading the S&P
2008-03-28 20:50:00
When I got back home, the market was slowly dying a death.. the market was heading lower and lower. The stochastics charts were flatlined at the lower end and not moving much at all in both the 5 and 15 minute charts. I went short and tried to hold it as long as I could from ...
More About: Trading , Dilemma

Run your winners, cut out the losers - trading adage
2008-03-27 20:55:00
The subject of this trading is a very well known trading adage and for those who trade, I’m sure you’ve seen it many times before. However, how many people can actually do this? We are programmed to lose by nature with the stock market.. peoples’ emotions mean that they tend to hold onto their losers in ...
More About: Trading , Winners , Losers

Trading takes a stumble today
2008-03-26 23:03:00
Today I came home exhausted and tired…. I didn’t feel like I wanted to trade but I felt also a bit frustrated that I am still yet to return a profit. Although I am on the live account, I have yet to clear a profit as I’ve lost almost 50% of the cash in my account!! ...
More About: Trading , Today , Stumble

Entered my short a bit too early!
2008-03-26 00:16:00
I shorted at 135425 today as the stochastics in the 5 min chart was heading lower. Also the 15 min chart stochastics chart was in overbought territory and I thought it was going to be heading lower. I was about 8 prices up at one stage but then the market went up and hovered around the previous highs of about 135850 or so before the stochastics finally turned in both 5 and 15 mins and tanked. I wished I had sold again then but after the initial loss, I thought I’d leave it for the remainder of the day. Loss of -8 today!
More About: Early , Short

New Market data
2008-03-24 21:57:00
Hi guys, I have found a widget which displays the market prices of the stock markets across the globe. I have installed this on the blog. You can click on the index for a mini-chart… or click again on it for a larger one! I hope you find it useful.
More About: Market , Blogging , Data , New Market