CanOz
Home runs feel good, but base hits pay bills!
- Joined
- 11 July 2006
- Posts
- 11,543
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- 519
A little update on my activity this week. I've been down with the flu but still managed to get into one currency trade.
The first charts are of the CAD/JPY spread that is due for a seasonal bounce. I reluctantly entered this spread, as did a few others i know, around 9491 on a pullback after a channel break out. It looked weak all night and into the next day. Yesterday i exited with a small loss ($200). I checked this morning only to realize that it broke bad right after i exited. I wasn't comfortable with this trade as it looked like a bear flag was forming. Not being that experienced with spreads i wasn't sure whether to discount this or not...My instincts this time were correct. It could have been worse as the trade had a large money stop. This pair will still be on the watch list for a later entry...
The last chart is of the Wheat spread, the only winning trade so far, its still in open profit of around $600. Its getting close to its target and seasonal exit.
I've also been practicing with Index spreads. Mostly the HSI_HHI spread, trading it 1:1. The HHI has been outperforming the HSI lately, since the liquidity injection, so I've been trying to sell pullbacks. Yesterday was a nice trend on that spread, will post a chart later. Posting charts has become a pain again as ASF is now blocked in China and i need to use the VPN, which is not validated on my trading PC yet...
I have some regrets on the HO spread and i didn't manage that trade as closely as i should have. I have setup my platform enabling me to monitor the P/L for the overall position, whereas it was setup to monitor only the daily P/L. This isn't the first time I've made that mistake, but it will now be the last time.
Incidentally the Brent spread has broke out, so we'll look for an entry there soon again on a pullback.
I've taken a free trial of eSignal, the only platform other than CQG that charts spreads quite well. I'm really impressed with it. I used an 'on - demand' data feed thats 15 min delayed. This works well with the IB platform for RT.
The first charts are of the CAD/JPY spread that is due for a seasonal bounce. I reluctantly entered this spread, as did a few others i know, around 9491 on a pullback after a channel break out. It looked weak all night and into the next day. Yesterday i exited with a small loss ($200). I checked this morning only to realize that it broke bad right after i exited. I wasn't comfortable with this trade as it looked like a bear flag was forming. Not being that experienced with spreads i wasn't sure whether to discount this or not...My instincts this time were correct. It could have been worse as the trade had a large money stop. This pair will still be on the watch list for a later entry...
The last chart is of the Wheat spread, the only winning trade so far, its still in open profit of around $600. Its getting close to its target and seasonal exit.
I've also been practicing with Index spreads. Mostly the HSI_HHI spread, trading it 1:1. The HHI has been outperforming the HSI lately, since the liquidity injection, so I've been trying to sell pullbacks. Yesterday was a nice trend on that spread, will post a chart later. Posting charts has become a pain again as ASF is now blocked in China and i need to use the VPN, which is not validated on my trading PC yet...
I have some regrets on the HO spread and i didn't manage that trade as closely as i should have. I have setup my platform enabling me to monitor the P/L for the overall position, whereas it was setup to monitor only the daily P/L. This isn't the first time I've made that mistake, but it will now be the last time.
Incidentally the Brent spread has broke out, so we'll look for an entry there soon again on a pullback.
I've taken a free trial of eSignal, the only platform other than CQG that charts spreads quite well. I'm really impressed with it. I used an 'on - demand' data feed thats 15 min delayed. This works well with the IB platform for RT.