spanish89's Daily Trading Journal!! Whooooo ;)

[MrGecko]

Where is the link to Spanish' chat room?

 

[rawrschach]

Vyew.com - - Free Anytime Collaboration and Live Conferencing

 

[prop]

spanish you are famous !

even the blogsters are talking bout ya style !

prop-idol



keep up the good work, word is out about you

rotter, tudor-jones, baldwin, spanish

 

[shadowninja]

Prop Idol? Is that a Japanese version?

 

[Hoggums]

nice pants tiger !

God, I haven't laughed so much in ages.

 

[Mikeyfx]

so when you publishing results for today spanish??????

 

[Vaco]

Spanish is a great trader of all time frames

he scalpes for profits and positions for losses

pure genius

 

[grantx]

Mr Gecko,

Stop digging.

Grant.

 

[MrGecko]

I have to say, that is one of the funniest things I have seen all year. Someone should start a caption competition.

 

[spanish89]

are you referring to the CPI data that will be released today? or inflation numbers on friday? i was long into that. i expected the numbers to be worse off. i think i look at fundamental news differently to you. i look at how people react to the news. for example good news can trigger a massive sell-off, ill go with where the prices are going, that is provided my indicators agree. however im waiting for todays inflation number.. that will be interesting. im short in the short term on the aussie atm. although im bullish long term on it.

Aloha mate i would appreciate your help in understanding all some of these fundamentals..

I like to take quite a robust macho sorta view about news, either its bad or good...

And so i thought since the infaltion target was meant to be 2%, but it was gna be about 3.3%, that it would be bad news therefore bad for ftse...


Where did i go wrong on that though please??

Cos that is the 1 trade that cost me alot!!

 

[spanish89]

spanish you are famous !

even the blogsters are talking bout ya style !

prop-idol



keep up the good work, word is out about you

rotter, tudor-jones, baldwin, spanish

OMG!! :cheesy:

 

[spanish89]

nice pants tiger !

OMG how the **** you found a photo of me from when i was 16 wearing just my armani boxers in my own house???!!! :cheesy::cheesy:

:!::!::!:

 

[spanish89]

That pic almost 3years old!!

So i may as well post a more recent one... :cheesy:

:cheesy::cheesy:

 

[spanish89]

And finally to the results for today...

Ok well cos the data taht came out saying how disasterous inflation has now becoem somehow didnt seem to worry and concern other traders, the ftse rose steadily in a giant trend all day....

However i admirally stayed in my sell for the majority of the day at £3 per pip!! :-0


Contract ID Status Order # Date/Time Buy/Sell £/Tic Price Profit/Loss

Brent Crude - Daily

18988 Open 5339682 17/06/2008 14:05:00 Sell 1 133.36
18988 Closed 5339710 17/06/2008 14:08:00 Buy 1 133.13 £23.00
18988 Open 5339741 17/06/2008 14:11:00 Sell 1 133.01
18988 Closed 5339750 17/06/2008 14:11:00 Buy 1 132.98 £3.00
18988 Open 5339756 17/06/2008 14:12:00 Sell 1 132.86
18988 Closed 5339772 17/06/2008 14:13:00 Buy 1 133.13 £-27.00
18988 Open 5339787 17/06/2008 14:15:00 Sell 1 133.28
18988 Closed 5339834 17/06/2008 14:20:00 Buy 1 133.15 £13.00
18988 Open 5339849 17/06/2008 14:22:00 Buy 1 133.19
18988 Closed 5339901 17/06/2008 14:28:00 Sell 1 132.88 £-31.00

FTSE 100 -Daily Cash

17468 Open 5337321 17/06/2008 09:16:00 Sell 1 5833
17468 Open 5337333 17/06/2008 09:16:00 Sell 1 5833
17468 Closed 5337333 17/06/2008 09:17:00 Buy 1 0 £Stop Loss Move
17468 Open 5337421 17/06/2008 09:30:00 Sell 2 5833
17468 Open 5337445 17/06/2008 09:30:00 Sell 2 5833
17468 Closed 5337445 17/06/2008 09:33:00 Buy 2 0 £Stop Loss Move
17468 Closed 5337905 17/06/2008 10:11:00 Buy 2 0 £Stop Loss Move
17468 Open 5337905 17/06/2008 09:30:00 Sell 2 5833
17468 Closed 5338147 17/06/2008 10:36:00 Buy 2 5887 £-108.00
17468 Open 5338158 17/06/2008 10:37:00 Sell 1 5882
17468 Closed 5338198 17/06/2008 10:42:00 Buy 1 5885 £-3.00
17468 Closed 5339266 17/06/2008 13:25:00 Buy 1 5918 £-85.00


FTSE.100 Fut - 19 Jun 08

16201 Open 5341276 17/06/2008 16:33:00 Sell 1 5860
16201 Closed 5341290 17/06/2008 16:35:00 Buy 1 5864 £-4.00
FTSE.100 Fut -.18 Jul 08
18472 Open 5340163 17/06/2008 14:47:00 Sell 1 5920
18472 Closed 5340534 17/06/2008 15:24:00 Buy 1 5911 £9.00
18472 Open 5340538 17/06/2008 15:24:00 Sell 1 5907
18472 Closed 5341227 17/06/2008 16:30:00 Buy 1 5885 £22.00
17527 Closed 5340150 17/06/2008 14:46:00 Sell 1 0 £Stop Loss Move
17527 Closed 5343476 17/06/2008 23:08:00 Sell 1 0 £Stop Loss Move

 

[spanish89]

So overall there was a loss for the day...

However this was just from the 1trade i made shorting the ftse due to the CPI.

At 2.47 i finally got out of all that stuff, and managed to get into a hedge!! :cheesy:


So finally i could relax and feel safe! ::clap::clap:

And i did.. :cheesy:

Made profit from it over the afternoon, its currently at 16 profit, will open about £50 profit though!! :cheesy:


And ive adjusted my stoplosses on the long and short to lock in profits on short and prevent the long being stopped out!!


Whoooooo

 

[gooseman]

repeat do you understand the move following the CPI and were you aware of the letter that King had to write to Darling?

 

[gooseman]

"Take this down, Darling....."

Spaniard-for clarification-when the CPI breaches 3.0% (2% is the target) the Governor of the BOE is required to write an open letter to the Chancellor of the Exchequer explaining why and what him and his panel are going to do about it. This was released at 1030 yesterday (as is the norm, only once has this happened before) and caused a huge move in the markets. Well, my markets anyway. I would advise you to read this letter (available online), digest and attempt to understand.

You can be my wing man anyday.....

 

[spanish89]

"Take this down, Darling....."

Spaniard-for clarification-when the CPI breaches 3.0% (2% is the target) the Governor of the BOE is required to write an open letter to the Chancellor of the Exchequer explaining why and what him and his panel are going to do about it. This was released at 1030 yesterday (as is the norm, only once has this happened before) and caused a huge move in the markets. Well, my markets anyway. I would advise you to read this letter (available online), digest and attempt to understand.

You can be my wing man anyday.....

ALoha yes i was fully aware about this!!

The thing i dont get is when the news came out so bad at worse than 3% and worse than expected, and so he wrote that letter, why didnt the ftse go down though since it was negative news about high inflation???

Why would it instead go up on bad news??


Cos that is what caught me out co si though it would make the market fall so i sold.

 

[the blades]

ALoha yes i was fully aware about this!!

The thing i dont get is when the news came out so bad at worse than 3% and worse than expected, and so he wrote that letter, why didnt the ftse go down though since it was negative news about high inflation???

Why would it instead go up on bad news??


Cos that is what caught me out co si though it would make the market fall so i sold.

Spanish,

I think your honesty and ability to bare your soul will help you enormously on your way to success. I have a real fear that the market is going to remove your pants some time soon, and wish you'd step back and keep asking questions rather than jump in like this.

Genuine good luck to you fella, but the market will always be there. There's no rush.

UTB

 

[ivantchourilov]

Aloha mate i would appreciate your help in understanding all some of these fundamentals..

I like to take quite a robust macho sorta view about news, either its bad or good...

And so i thought since the infaltion target was meant to be 2%, but it was gna be about 3.3%, that it would be bad news therefore bad for ftse...


Where did i go wrong on that though please??

Cos that is the 1 trade that cost me alot!!

i agree with you, logically bad news should put markets down and good news give them a boost. however here is the deal. what inflation figure did the markets price in? when markets discard news like that it really points to some bullish sentiments out there and some health in the markets.

watch for these, especially if you trend fundamentals.

What is the relationship between equities and interest rates Spanish? Take small steps and you will get there. Ultimately Gooseman could just type it all for you but you wouldn't really truly learn anything that way.......

as for interest rates and equities link, its a rather open question. i personally like to think that the link isnt as close as everyone seems to argue. in any case, the basic is this, interest rates rise to control inflation. interest rates are used to cut down spending, and is a two-edged sword, because it also increases the credit default if its risen, and unleashes spending if its cut. in the US the problem is that a cut in intrest rates caused the commercial sector to dominate the spending while people didnt invest more as they hoped they would. all of these caused inflation to move up and now the dilemma is there in the market with futures pointing that the rate will move up 100 basis points back to 3%. I'll leave my rambling on the fed to a later date. i read bernanke's books in uni, which i think in its own right explains why he should not be chairman.

the inflation figure generally signals that there will be a rate hike coming up, and most of the time it means that investors start pulling back on the investment commitments and start putting money back into their homeloans. this is the thing. the selling in itself is so gradual that it really wont impact the markets. the problem is that news of a rate hike usually drive the selling, not the hike itself. anyway i could spend valuable hours arguing this and it really wont change anything.

read about what inflation does to the economy and why. generally the ftse takes into consideration the top companies in the UK and the company share prices are intended to act as a guide to future earnings.

as for yesterday's event, overall if i am not mistaken the market fell, and the ftse is falling today. as i said before, im rather bearish short term, for technical reasons. i think the markets are as low as they will be for a long time and the downside is rather limited. i would like to see ftse testing the 6000-50 resistance marks, however the downside is that it can fall right back to the 5450 levels. you have to remember that crude is at all time highs and until it starts retreating the stocks will be in a rather narrow range. watch crude tumble to under 100 soon though...

end of rant... lol