Charity Trading Account - Trades for 13/08/07

Please make suggestions for our Charity Trading Account (details here) for trades on 13/08/07.

Please abide by the following restrictions:

All trades must have an entry point
All trades must have an exit (target) point
All trades must be good for that day only (no rollovers to start with)
All trades must have a stop

No trades will be made in non-UK Equities or in Heating Oil or Natural Gas contracts.

The maximum stake will be £1 a point in indices, energy and metal commodities and Currency Markets. The maximum stake in all other contracts shall be £2.

Please suggest your stake along with your suggested instrument.

Please do not use this thread for anything other than trade suggestions. Irrelevant posts will be deleted without explanation.

Our thanks to Capital Spreads for setting up the account.

Good trading,

EK1

options said:

Well, I don't know a lot about binaries, so I can't really comment on them. I'll leave that to the more experienced binary traders. I know there are some on here. The only view I have is that they are not going to leave a lot on the table. I mean they will cover themselves pretty quickly and just leave a few crumbs. But a profit is a profit as long as the risk is tolerable.

In light of that, I'll put forward a trade for the pot for Monday.

An oco order. Dax cash. sell @ 7412 buy @ 7473
Whichever goes on then place a stop at either 7613 if the sell is actioned or 7238 if the buy is actioned.

No target as yet. I'll tie up with EK1 in the morning to keep an eye on it live as it were to make adjustments as need be if the trade goes on.

Click to expand...

taken from last thread.

buy euro 1.3645
stop 1.3640
target 1.3745

Thanks tightstops, order in.
Good to see you are living up to your name

EK1

hehe speculative but well worth the potential 20-1 return

Mmm. Okay apologies to all: Had probs with my cmc feed this morning, but before that under live conditions changed my 'posted' trade of the dax while chatting to EK1. I placed a emergengy stop further away than normal for me under live conditions, and went out while trade was in profit and looking good. Came back and find trade still looking good because it hasn't changed!
IG showed me otherwise. Of course it then took out the stop and is now faltering!

My fault. I had an 'inkling' to close it but didn't listen to myself, and paid the penalty.

This was a personal trade as well, so start the week on the back foot as it were.

I made a few basic and very fundamental errors on that one trade, and have been reminded that that in the overall scheme of things I traded as an idiot!

So time spent in rehab and in beating oneself up school taken on board and digested.

Move on to the next trade!

* And of course the 3 other trades I had contemplated have gone into the high end double digits and one now very near the triple digits!...Ooooh!!! I'm going to crush a grape now!

OK clearly this is not working. Tightstop's trade earlier was briefly in profit but then again we've been stopped out for a (albeit small) loss. So far the account is down by almost 50% and I strongly suspect that this is due in no small part to not being able to actively manage the trades.

I think a major re-think is in order to avoid us blowing the account. Here we are, one of the biggest online trading communities, and a) not many people are making suggestions an b) we're blown £500 so far this month...

I'll go back through all the suggestions so far and try to come up with a decent revision. In the meantime let's just keep it as is. I'll try and put something together in the next day or two.

Long cable market order (currently 2.0070/80) stop 2.0040 , target 2.0150

should be ok if you can get it on.

Monday trades:
10.01 sell 1 Dax @ 7402
13.31 stopped @ 7454
Loss=£52

10.54 buy 1 Eur/USD @ 1.3645
15.00 stopped @ 1.3640
Loss=£5

Agree with other comments that we need a rethink to see if we can get this working better. Gotta be able to make it work

EK1