My trading blog

[tech/a]

Yep I understand it's a pair trade.

Probably I better idea would of been buying 300 instead of 500 buy I guess greed got the better of me.

Hopefully the market won't punish me on Monday. If ben bernanke gives the market something

Why do you come up with this " I know very little it all must be a dose of luck"
Then start trading like a pro with leverage beyond you initial persona.
Then turn back into a fruit loop with" I hope the market won't punish me on Monday"
Fun?

 

[adamim1]

Why do you come up with this " I know very little it all must be a dose of luck"
Then start trading like a pro with leverage beyond you initial persona.
Then turn back into a fruit loop with" I hope the market won't punish me on Monday"
Fun?

I am new to CFD's. So I'm going to make mistakes.

I am pretty confident that the market will be up on Monday. My risk is limited with my pair trade.

If I was to stick to the 2% rule I would only be risking $160 per trade. If I were to risk 160 on RIO, my first target profit would be $160. I guess the time of putting the trade on $160 didn't seem like it was worth it.

I guess this may not be the correct type of thinking.

 

[skyQuake]

I am new to CFD's. So I'm going to make mistakes.

I am pretty confident that the market will be up on Monday. My risk is limited with my pair trade.

If I was to stick to the 2% rule I would only be risking $160 per trade. If I were to risk 160 on RIO, my first target profit would be $160. I guess the time of putting the trade on $160 didn't seem like it was worth it.

I guess this may not be the correct type of thinking.

Why not have $320 or $1600 as profit target? Why even have profit targets?

What makes u so sure mkts will be up on monday?

 

[adamim1]

The target is to make sure I don't get too greedy.

Asia and the US markets were up Friday night, and im expecting the ASX to follow on Monday. Ben Bernanke is talking on Wednesday, I am thinking there will be a rally up until that speech.

 

[skc]

Why do you come up with this " I know very little it all must be a dose of luck"
Then start trading like a pro with leverage beyond you initial persona.
Then turn back into a fruit loop with" I hope the market won't punish me on Monday"
Fun?

I think he's just trading like a newbie to CFD and don't really understand fully the leverage and risk management.

You'd be surprised how many people trade CFD because they can buy positions many times greater than their capital.

 

[skyQuake]

The target is to make sure I don't get too greedy.

Asia and the US markets were up Friday night, and im expecting the ASX to follow on Monday. Ben Bernanke is talking on Wednesday, I am thinking there will be a rally up until that speech.

Greed aint so bad. Long term greed is quite good in fact

BHP closed in the US @ 38.06, our futs are flat.

 

[adamim1]

Greed aint so bad. Long term greed is quite good in fact

BHP closed in the US @ 38.06, our futs are flat.

If Monday doesn't look very good at all I can sell out.

 

[adamim1]

Didnt look good. Got out at 70.45.

 

[adamim1]

Just put 3 new trades on - taking short position.

Cannot say which trades they were as they were a subscription trade. Will let you know how things turn out.

I am risking $200 on each trade.

 

[sammy84]

Just put 3 new trades on - taking short position.

Cannot say which trades they were as they were a subscription trade. Will let you know how things turn out.

I am risking $200 on each trade.

The chartist?

 

[Wysiwyg]

Just put 3 new trades on - taking short position.

Cannot say which trades they were as they were a subscription trade. Will let you know how things turn out.

I am risking $200 on each trade.

Now that's strange. How would we know they were subscription trades anyway? Why post you made some trades at all without some reasoning? A sandwich with no butter and nothing in between.

 

[adamim1]

Just topped up one of those trades with 1000 shares. Going to risk $200 on the top up trade.

 

[skc]

The chartist?

I think he mentioned slipstream trader in the first post.

Now that's strange. How would we know they were subscription trades anyway? Why post you made some trades at all without some reasoning? A sandwich with no butter and nothing in between.

It wouldn't be right to post trades here when others have paid for subscription service so he's doing the right thing imo. Of course that does make his posting somewhat meaningless to all other observers.

 

[adamim1]

I said I will update later, when I can mention the trade and why I went into them. Currently the prices are not far off buy in prices, when they get further away I will be able to say something.

 

[adamim1]

Closed one trade 1000 shares @ break even.

The risk was too much, couldn't put a stop where I wanted. I had 20 pip but it was too tight.

 

[investorpaul]

Closed one trade 1000 shares @ break even.

The risk was too much, couldn't put a stop where I wanted. I had 20 pip but it was too tight.

If the risk was too much you should not have placed the trade in the first place IMO.

Maximum risk should be calculated before you place the trade. How much "risk" you can handle then affects where you place your stop.

If you reduce your risk, you reduce the chance of blowing up your account. This will then mean you can trade for longer giving you a greater chance to learn and develop your "style/method".

All IMO, DYOR

 

[adamim1]

If the risk was too much you should not have placed the trade in the first place IMO.

Maximum risk should be calculated before you place the trade. How much "risk" you can handle then affects where you place your stop.

If you reduce your risk, you reduce the chance of blowing up your account. This will then mean you can trade for longer giving you a greater chance to learn and develop your "style/method".

All IMO, DYOR

You're correct.

What I did was put a $200 risk on it which was a 25 pip stop, my other trades had 90-100 pips stop. I was worried that the stop was too tight. At the time of putting the trade on I was hoping that the price was going to tumble further (I got on late with this trade, the other 3 trades are all in profit) but it didn't.

So rather then risk the chance of getting stopped I took a $20 profit and closed the position.

 

[adamim1]

Still holding on these shorts ( 3 x aussie blue chips).



I'm on average 1.6% away from entry price holding profit, but holding onto them going into the fed meeting makes me nervous.

 

[tech/a]

Interesting that these shorts have a time limit placed upon them by someone else.
You dont seem to be able to do this (trade) without attachment.
As simply a business venture.
Your concern for loss shows like a beacon.

Loss is a part of any business as is profit.
If you understand the overall cash flow and profit strategy of the business you should be able to then trade without concern as to what's coming up or what's passed.

 

[adamim1]

Interesting that these shorts have a time limit placed upon them by someone else.
You dont seem to be able to do this (trade) without attachment.
As simply a business venture.
Your concern for loss shows like a beacon.

Loss is a part of any business as is profit.
If you understand the overall cash flow and profit strategy of the business you should be able to then trade without concern as to what's coming up or what's passed.

You're correct.

I should not worry about the loss at all. The trade has been put and the risk has been set.