Diary of a swing spread better

[Lightning McQueen]

Hello hung

Happy days to see you posting again mate, now tell us whats on the agenda, whats the flavour, FTSE stocks? Dow? or have you something else in mind?

cheers

don

 

[hungvir]

Don,

I still love the DOW but with my small capital it would always risk about 10 per cent cap per trade so I'll avoid it. I've been looking at UK shares that more or less move in tandem with the bloody DOW at the moment

Just FYI, the Vietnam-focused Indochina Capital will list on the London Stock Exchange tomorrow morning. I am quite tempted to trade it as well. I'll cover the event for my service so I'll keep you posted. The stock market in Vietnam was up more than 140 per cent in 2006 and more than 40 per cent in the first two months of this year alone.

Have a good evening matey!

Best,

Hung

 

[Lightning McQueen]

Don,

I still love the DOW but with my small capital it would always risk about 10 per cent cap per trade so I'll avoid it. I've been looking at UK shares that more or less move in tandem with the bloody DOW at the moment

Hi hung

Yep, you and me both on the capital front, im still paper trading but its better than losing your shirt, Split and I are having a go at the T2W share comp, its finishing friday, and im not sure whats replacing it, but its been fun, and if I got really lucky there was a 500 quid prize for the fins account. Splits in front of me again obviously but I have a cunning plan

Look forward to your foray into Indochina Capital.

Laters

don

 

[hungvir]

Sounds interesting, Don. Now you made me wonder how 'cunning' your plan is )

Later,

Hung

 

[Splitlink]

Hi hung

Yep, you and me both on the capital front, im still paper trading but its better than losing your shirt, Split and I are having a go at the T2W share comp, its finishing friday, and im not sure whats replacing it, but its been fun, and if I got really lucky there was a 500 quid prize for the fins account. Splits in front of me again obviously but I have a cunning plan

Look forward to your foray into Indochina Capital.

Laters

don

Your're not thinking of selling me something that stopped trading two years ago, are you? I won't fall for that one

Split

 

[hungvir]

Morning all,

I am up at 1:15 and the Dow was up 157 points. Interesting.

Good trading!

Hung

 

[Splitlink]

A new thread, "Where am I Going Wrong?" has an interesting analysis of a 1m. chart, for those interested in TA.

Split

 

[hungvir]

Thanks, Split. I've been following it with interest though I don't intend to trade such a short time frame. I am getting old

Just an update on the first Vietnam focused fund that was listed on the main exchange at the LSE today. Attached is the graph of the share's performance on the day. Indochina Capital wants to raise half a billion to invest in Vietnamese companies' share on the OTC market. In the long term, I think this is a good bet. Vietnam is going to privatise 30 billion worth of state-owned companies in the next 3-4 years according to Credite Suisse and the economy has been growing at around 7 per cent a year.

I'll add it to my watch list anyway.

(One of the attached is the picture of Indochina Capital management team and Martin Graham, Director of Markets at the LSE (left)

Happy trading!

Hung

 

[hungvir]

Are these two guys now short candidates??

Good trading!

 

[hungvir]

ADVFN played tricks and I could not do any more research on EMG. But these two charts look like a classic set up for a short to me. The risk is 20 points but the return could be up to 100. I'll close my eyes and just dive in

Good trading!

Hung

 

[hungvir]

The drop did come but I wrongly chose 'good for today' when made the stop sell order at Fins (which will soon become part of Cityindex) so I missed it.

I made the order on Monday evening and as the market was already closed I thougt 'good for today' would mean good for the next trading day. Meant to sell at 531 and the price is now at 514. But there seems to be strong support a around 507/8 and the stop loss is now so far away that I won't chase it. What a miss though.

Good trading!

Hung

 

[barjon]

good thinking though, hung - fwiw i didn't take it either

good trading

jon

 

[hungvir]

Cheer, Jon, I am having a flu because of regrets

Do you trade with Fins?? When asked to choose between 'our price' and 'market price' I always choose 'market'. Do they mean futures market and where do you get data for futures from? So far I've been relying solely on ADVFN and they don't offer futures feed I believe.

Thanks and have a good day, trading or otherwise.

H

 

[hungvir]

The price is now under 500. An arbitrary stop loss would have worked as well. Never mind.

 

[chindl]

Hey Hung, I think it's the LIFFE price for the future if it is UK issue, but I may be wrong and would stand corrected if told otherwise. Ask them, they should be able to tell you, especially Simon at CS, he's very open and honest about their feeds.
Chris

 

[hungvir]

Thanks, Chris. I just checked with Fins and they said 'market price' means the actual market price not the futures ones. That makes it easier for me then.

Good trading,

Hung

 

[hungvir]

I almost day traded the DOW today and had I gone with my original decision to short it I would have lost some ten points. The short party was just over when I logged on to Worldspreads and had the trading urge which ended just in time. I didn't plan to trade at the start of the day so I shouldn't have traded. I think mental trading for about half an hour or an hour while looking at charts for various time frames help a great deal in terms of preparations.

In the attached hourly chart, the trend is still down, in the 15 min one, a higher had been made while in the 5 minute one, a swing low was being formed for people who want to long.

 

[hungvir]

The temptation to trade was so strong that I could not resist. So I jumped in with a long but my stop loss was soon triggered. It was a mental one and I made a mistake of doubling my position by buying instead of selling. But the market headed straight up so I got out of the two longs with an eight point loss. So my WS account is now has zero capital. It's time to empty the one at Fins A spreadbetter and his money are soon parted And now I am going to my less stressful hobby - playing the guitar.

Good trading,

Hung

 

[Lightning McQueen]

Hey Hung - that was a good strong start to the comp

I hope they're good choices, you wouldn't want to drop below me, its a long way back up.

 

[hungvir]

Hey, matey, I gave up already Until next month I lost half of my 50,000 virtual capital in matters of hour. I hope trade2win will put this in their record LOL.