declare your positions- 25th Nov

[wallstreet1928]

I have bought again @ 4078 long .............oversold bounce strategy again!!

moved my stop loss to 4095 as happy with 20 points!!!

I have just got up, late night.............smoking the sheesha(apple flavoured water the Arabs are fond of) at one of my mates house!!

 

[wallstreet1928]

OK lets move stop loss up a bit more to 4095!!

 

[wallstreet1928]

Breaking news...................Stop loss hit!!

 

[wallstreet1928]

darn............!!

the market rip roars upwards just after triggering stop loss!!

Arrrrrgh!!!

 

[wallstreet1928]

OK so now I'm shorting the market 4150.................stop loss 4170!!

target 20-30 points!!

 

[minime69]

do you think it has gone too far, or just fancy a bit of a pull back?

 

[wallstreet1928]

I'm trading on 2 day chart and there was some resistance at 4150 yesterday afternoon at 16:25 towards the afternoon............

US is lacklustre as futures point towards declines and rest Europe is in red, the citigroup excitement is over so i believe people are going to be taking profits off the table with 2 days rally...........

 

[wallstreet1928]

Oooooh!! stop loss almost got hit but market back down to 4158 again!!

strange!!

 

[wallstreet1928]

i have exited trade at 4158, market is looking too strong and doesnt seem to be falling................

bad trade!!

 

[wallstreet1928]

there it goes..............rip roaring away!! good job i got out............

I don't understand even with oil price falling the FTSE has swung into the green?

 

[wallstreet1928]

OK so I have gone short again at 4180 with 50 point stop loss this time!!

 

[wallstreet1928]

ok nice rally ............increased stop loss to 100 points and bought Dow Jones long position to hedge myself at 8410 as broke resistance at 8400?!!!

 

[wallstreet1928]

OK so I will take my 70 profit from Dow Jones which has covered my loss on FTSE (4230 - 4180) , hence the reason why i increased my stop loss by another 50 points to 4280 on FTSE?

Hedging can be useful at time when you know the market is moving against you, but the Dow Jones looked prime for a bounce as it broke 8400.........

The FTSE is doing well due to the oil sector(but oil price is down so its baffling) & banking sector(after two days of strength you would expect a pull back & profit taking in this uncertain environment) which are surprisingly strong .........

 

[wallstreet1928]

about time...i can see sell off in oil sector.........

 

[wallstreet1928]

nice very very nice..............

i have closed position at 4185 taking a very small 5 point loss, but the profit made from Dow Jones going long 70 points minus 5 point loss on FTSE = 65 point profit!! very very nice............

I have have almost hit my daily target................1 more trade left for 10-20 points should do it?

so what are people doing in the afternoon?

 

[minime69]

prob copying you, so keep it coming!

 

[wallstreet1928]

haha...........honestly!!! are you copying me?

hey that's pretty cool............I feel like a stockbroker now, but I promise you I don't work for Galvin or Blue index!! haha..........

Always willing to help my friend!!

I will update asap as soon as I execute a trade!

I am currently looking at Apple and intend to go short on it in the afternoon & currently thinking of shorting Oil as well..........

but any FTSE trades i will inform you straight away!!

 

[wallstreet1928]

Banks are surprisingly very strong this morning...............I can't get my head around why?

why ? why? why?!!

 

[wallstreet1928]

nice bounce on FTSE after US data............OK maybe my shorting opportunities may have to wait a bit!!

 

[minime69]

i like to read other peoples trading style but dont copy there trading, trade for trade.

but i am more interested in your reasoning as appose to your positions.

but all appreciated.