FTSE 350 Spreadbet Journal

This is a discussion on FTSE 350 Spreadbet Journal within the Trading Journals forums, part of the Reception category; I have been out of the equities since June 2014. Time to research my methods, read more, get more education ...

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Old Nov 26, 2015, 10:16pm   #181
Joined Jan 2008
think-it-thru started this thread I have been out of the equities since June 2014. Time to research my methods, read more, get more education etc.
In the meantime about last summer I opened a forex account with some small success until I learned something about hedging.
A while before the swiss de pegged I had a few open positions and had the losing ones hedged so I couldn't make a loss on them (apparently).
Before long I had a lot of my account exposed and looking back, a lot of unnecessary exposure to correlated pairs. Anyway this was working out quite well for a while that in one day with a lot of volatility in the markets i just about doubled my account! So being king of the traders I took my partner off to a nice restaurant for a nice meal and a bottle of bubbly to celebrate my new found skill!
While there was volatility, things were great, but if it calmed down a bit, and it did, the price staying in a range had me hedging and re-hedging and tying up margin. Even though my account was in profit, I still had to stump up margin to stay in some positions. at one point I had so much in a position, it was like having 100% of my money at risk to make 0.2%! What a negative RRR!.
Any I managed to get out of that position at just under break even with my account still nearly doubled.
I forgot to mention that during this time, I had positions on the Asian times so had alerts set to wake me if i needed to change positions. This didn't go down well with my partner as she doesn't get back to sleep easily, I myself can sleep on a harrow. In the middle of the night at one point, she mentioned that if we have children, I will do the night feeds. I don't think she thought that one through as I am not the one with the boobs! I didn't mention it at the time but just nodded and agreed.
Then the swiss de pegged and Alpari went bust, along with my account!
I'm in the process of getting that back and things seen to be running smoothly.

So I have learned some really good lessons. ( i have read them when other traders made them but there is nothing like touching the hot stove for yourself even if you read about someone touching it and they told you not to)

I had a too good to be true hedging system.
It caused me to have to over trade to stay in a position.
The success caused me to be greedy and load up positions and have too many of them.
I was only lucky to have doubled the account, I wont try to replicate it, which is one of the good things about Alpari going bust, I might have tried to.

Basically without risking any human lives I did the equivalent of driving flat out through a busy junction with the lights on red, in the fog, at night, drunk, with my eyes closed and got away with it.

I opened a new account with FXCM in January and am up 7% so far. I was up 21% but i had a few losing trades in a row, so decided to take a step back and have a look at the method. I will probably find out I should have kept trading the plan.

I will be opening some new forex positions soon, and I will try and open a new thread.

In the meantime I have got together with a few friends and we have meetings to talk about equities.
We have put some money in an account and have opened up three long positions in the FTSE 350

On the 24th of November we opened up the following.

Sports Direct LONG
JD Sports LONG
Debenhams LONG

Current P/L on this new fund 0.2%
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Old Feb 1, 2016, 11:07am   #182
Joined Jan 2008
think-it-thru started this thread We got stopped out the SPD news at a loss
We also got stopped out at a loss on DEB
I cold cold feet and tightened up my stop on JD. a little too tight. I got stopped out at a profit however if I had been 3 points looser in the stop they rallied for the next few days.
Hey Ho, the benefit of hindsight.

P/L -1.7%
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Old Feb 1, 2016, 11:08am   #183
Joined Jan 2008
think-it-thru started this thread This morning just placed some sell stops in the mining sector
Short
GLEN
BLT
AAL
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Old Feb 22, 2016, 8:12pm   #184
Joined Jan 2008
think-it-thru started this thread GLEN, BLT, AAL all stopped out at a loss.
Seemed to do a good job of picking the bottom there!

P/L -4.1%
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