Barney's Ballsups

[>Apocalypto<]

Still riding it! It just opened approximately 100 points against me! At 0.10 Euros per point it's created a massive 10 euro dent in my account! (Loving these micronised lot sizes.)


Abso-DAXING-lutely!

they help offset the pain. nice to hear it's not to bad.

atm i am trading 1.40ish aud a point.

bit of a rally on the EURO hour.... still how it goes once the Londoners are in play.

 

[cynic]

atm i am trading 1.40ish aud a point.

Yes! You're trading at exactly 10X my individual trade size.

This particular account is also based in AUD and quoting "Per Pip:0.14". This is quite amusing, given that it's not a currency pair, (but then again what is one to expect from a forex broker?!)

I prefer to think in EUROs until after the trade is settled. It helps me keep my mind habitually aligned with my other DAX trading activities on my EURO denominated CFD accounts.

 

[barney]

Hi Barn,

Chart has two trades. red for the sell and green for the buy. Both break out momentum trades that broke trend lines. just waited for further highs to confirm the moves as happening. normally i just trade first 2 hours after london open on the DAX and 1 hour on dow from when the spreads move to 1 point. was 11:30-12:30pm

slowly getting ready for this evenings DAX session. :robot2:

Looks like you snagged a few points on either side I find breakouts hard work most of the time, unless its a run away FX trade.

 

[barney]

today opened two longer term FX trades off the daily.

AUDUSD made the papers about how low it is. minor double bottom. I have a buy
USDJPY double top NFP rally failed to make a new high. Have a sell

stop 65 pips on both

What's your initial target area on the USDJPY Joe ...... Last week's low or Friday's low?

 

[barney]

(but then again what is one to expect from a forex broker?!)

0.01 ... Are you with FXCM Cynic?

 

[cynic]

...Until that time I'll tolerate the exposure and patiently await the next downswing. (The DAX has not only proven itself quite dependable in that regard, it also displays a propensity for gap filling.)
However, in order to fulfill this, one needs to manage the resultant drawdown.

The fact that this trade will likely be a hundred points (or more) against me when the market reopens isn't the cause of my annoyance...

Rain, hail or shine, I'm more than happy to keep everyone posted on further developments...

Still riding it! It just opened approximately 100 points against me! At 0.10 Euros per point it's created a massive 10 euro dent in my account! (Loving these micronised lot sizes.)...

Although that pesky trade was heavily rained and hailed upon at open, the sun finally shone at 1:50AM AEDST when it closed after achieving its original profit target.

I happened to make two other ballsups yesterday evening.
I unintentionally opened a surplus trade and also entered an incorrect level in another order resulting in a trade not triggering.
Usually the DAX is quick to condemn such mistakes, however, on this occasion, by the time I realised that I'd erred, the market had already moved in a favourable manner enabling me to capture an extra 6 points whilst rectifying these errors. I wish all of my ballsups could be so benign!

0.01 ... Are you with FXCM Cynic?

Whilst I wouldn't exactly describe myself as being with FXCM , the DAX trades I'm discussing on this thread have been placed with an FXCM account which I opened last month. (The bulk of my more serious CFD trading remains with City Index.)

Please note that there's a little bit more to the story behind my decision to open this account with FXCM.

I was expecting to profit indirectly from my trading activities pursuant to a particular agreement between one of FXCM's business partners and myself. I'll be posting further details about this at a later date.

 

[>Apocalypto<]

Looks like you snagged a few points on either side I find breakouts hard work most of the time, unless its a run away FX trade.

Hi Barn,

yep that's how i play them. took 14 pts last night. dow session was a non event. one tight stop cost me then reentered and made it back. called it a day after that. reason i like the dax is it normally has follow through. also looking at WTI for the same trade ideas. I am out of FX on short term. really just concentrating on DAX atm.

IC Markets have dropped WTI...

 

[>Apocalypto<]

What's your initial target area on the USDJPY Joe ...... Last week's low or Friday's low?

already closed both Barn. where tiny positions. made a little bit.

 

[barney]

Hi Barn,

yep that's how i play them. took 14 pts last night. dow session was a non event. one tight stop cost me then reentered and made it back. called it a day after that. reason i like the dax is it normally has follow through. also looking at WTI for the same trade ideas. I am out of FX on short term. really just concentrating on DAX atm.

IC Markets have dropped WTI...

Yeah totally understand your switch away from FX; it really can wear you down at times.

IC closing the WTI is interesting ..... any ideas why?

 

[>Apocalypto<]

Yeah totally understand your switch away from FX; it really can wear you down at times.

IC closing the WTI is interesting ..... any ideas why?

still look at it on the daily... but found cant control myself with it as well as other markets. Plus i find i sit on the comp all day while trading it on 1 hour or under.

good thing about the DE and DOW is you just look at it a set amount of time during the day.

I would say Barn they're not making enough money. so out they go.

today three up on the Dax but still have a massive issue with holding open trades for more profit. this is my main issue atm. taking the night off on the Dow.

 

[>Apocalypto<]

finally held one Barn... caught 20 on a dow buy. did drop 8 on a sell. slowly, slowly.

 

[cynic]

...I am out of FX on short term. really just concentrating on DAX atm.
...

After witnessing the tortuous time a friend of mine had trading FX, I believe I can understand where you're coming from.

On the subject of the DAX, I've had another busy night. At this point I'm onto trades # 25 and 26 (one ITM, the other OTM).

Edit: Both short positions and now both OTM.

 

[cynic]

After witnessing the tortuous time a friend of mine had trading FX, I believe I can understand where you're coming from.

On the subject of the DAX, I've had another busy night. At this point I'm onto trades # 25 and 26 (one ITM, the other OTM).

Edit: Both short positions and now both OTM.

Another 2 scores on the board.

Trade # 27 open - another short and currently OTM!

Edit: Another one in the bag!

Trade # 28 open - you guessed it!! Another short position currently OTM!

 

[barney]

finally held one Barn... caught 20 on a dow buy. did drop 8 on a sell. slowly, slowly.

Nice counter punch there


Took a few trades earlier tonight ... sitting on my hands since then just watching the gyrations.

This one on the CAC about an hour and a half into the open was my best effort .... After the 26 tick Dip then 0.5% reversal, the test of the double top failed so Short 1 ...

Bit early (or late depending on which pair of glasses I had on) on the first entry (took just under 4 ticks of heat for a couple of minutes. It weakened again so I doubled up ... Closed out after a quick 10 points on both legs.

Only the "training" account so I won't be retiring on the profits, but a better effort ..... all about the process at this stage.

 

[barney]

Another 2 scores on the board.

Trade # 27 open - another short and currently OTM!

Edit: Another one in the bag!

Trade # 28 open - you guessed it!! Another short position currently OTM!

You sound like you're having fun Cynic

Dax has certainly been weak last couple of weeks ...

 

[cynic]

You sound like you're having fun Cynic

Dax has certainly been weak last couple of weeks ...

Yes! The Achilles heel of this strategy will be the sudden recovery. Sooner or later (preferably later) I will get caught short!!

Edit: Trade 28 succeeded but now caught on #'s 29 and 30!

 

[cynic]

Yes! The Achilles heel of this strategy will be the sudden recovery. Sooner or later (preferably later) I will get caught short!!

Edit: Trade 28 succeeded but now caught on #'s 29 and 30!

#'s 29 & 30 now banked , nothing left open and no ballsups to report. All in all, a very good night! So good night for now and I'll see you all next evening!

 

[>Apocalypto<]

After witnessing the tortuous time a friend of mine had trading FX, I believe I can understand where you're coming from.

On the subject of the DAX, I've had another busy night. At this point I'm onto trades # 25 and 26 (one ITM, the other OTM).

Edit: Both short positions and now both OTM.

FX is good but for me personally i found more consistent success away from it. but at the end of the day it's all upstairs 90% of the time, no matter what you play on.

The DAX is so scary but also so much fun. i used to think OIL was a love hater but yeh the DAX can really test u. keep posting up your adventures.

 

[>Apocalypto<]

Nice counter punch there


Took a few trades earlier tonight ... sitting on my hands since then just watching the gyrations.

This one on the CAC about an hour and a half into the open was my best effort .... After the 26 tick Dip then 0.5% reversal, the test of the double top failed so Short 1 ...

Bit early (or late depending on which pair of glasses I had on) on the first entry (took just under 4 ticks of heat for a couple of minutes. It weakened again so I doubled up ... Closed out after a quick 10 points on both legs.

Only the "training" account so I won't be retiring on the profits, but a better effort ..... all about the process at this stage.

some nice trades there. well done.

 

[>Apocalypto<]

EURO Hour sitting on my hands atm... have been taking some trades in it but normally wait for LON open.

always exciting preparing for the session.