What an Exciting time!

[Nowler]

What an exciting time to be trading/investing!

This will be my first downturn as a trader/investor, and to say I am excited is an understatement.
I think we/most of us saw this coming for the last while, but for it to upon us finally!

Selling the USD against the JPY has paid off well for me, and I'm not finished with it yet

European stocks have been hammered today, and now we are 5mins from the US open.
I dont have the captial to trade those, but I am watching keenly.

Now I'm waiting for the "best time" to move my pension back into stocks.

How is everyone else doing?

 

[Nowler]

Noooo!
I got the time wrong


It's 1:30pm UK time when the US stock market opens...


Booooo.... Booooo

 

[tomorton]

Pretty good shorting GBP, AUD and NZD against JPY. Not doing anything in stocks or indices right now (I am a long-only index trader and will get back in when they re-discover an uptrend). Trialling Big Ben strategy on GBP/USD and that's going fine, right where the stats say it should be, though no trade today as price is too energetic - volatility is good but too much of it gives you a headache.

 

[Nowler]

Any reading material for me in regards to this Big Ben strategy?

 

[MasterOfCoin]

What an exciting time to be trading/investing!

It's jolly good fun, isn't it !

I got the time wrong

Yup. An hour to wait yet, you thought .

But it'll be worth it, just to see the Dow crash and burn.

Hold on to your wallets ..


😷

 

[tomorton]

Any reading material for me in regards to this Big Ben strategy?

Sure - my thread on this is here - https://www.trade2win.com/threads/big-ben-strategy-optimised.237391/
and there are numerous variations on this all over Youtube etc.

 

[MasterOfCoin]

American stock markets halted after 7% plunge ...

Wheeeeeeeeeeeeeeh

😷

 

[MasterOfCoin]

Faster daddy, faster !

I want another go !

Lets go on the slide again !

 

[barjon]

American stock markets halted after 7% plunge ...

Wheeeeeeeeeeeeeeh

😷

Blimey, you turn round to cough and find you’ve made (or lost) 100 points.

 

[Nowler]

It was a bit anti climactic...

Throw away the safety feature of closing the market for 15mins after a 7% decline.

I demand to see carnage godamnit!

 

[trendie]

It was a bit anti climactic...

Throw away the safety feature of closing the market for 15mins after a 7% decline.

I demand to see carnage godamnit!

I love how the high priests of free markets rush to regulations and trading limits when their bonuses are on the line.

Also, these are indeed exciting (and scary times).
I am having to trade off 1-min charts instead of 5. The moves, from DAX at least, are hundreds of pips (ticks?, fleas?) at a time.

 

[Nowler]

I love how the high priests of free markets rush to regulations and trading limits when their bonuses are on the line.

Also, these are indeed exciting (and scary times).
I am having to trade off 1-min charts instead of 5. The moves, from DAX at least, are hundreds of pips (ticks?, fleas?) at a time.

1 min?!!!

I would have a seizure!
The best thing I ever did in regards to my trading was move out to the longer TF's.

I need time for my brain to catch up

 

[Pat494]

I guess most are like the proverbial rabbits in the glare of the headlights and freeze.

 

[MasterOfCoin]

It was a bit anti climactic...

Yeah.

But we did get a 7% drop out of it.

Shame that it didn't make the 13% threshold for a second freeze though.

 

[trendie]

1 min?!!!

I would have a seizure!
The best thing I ever did in regards to my trading was move out to the longer TF's.

I need time for my brain to catch up

I absolutely agree with you. Normally, I look for one good swing in a session, maybe 2 trades a day.
But, honestly, look at the volatility. The SLs would be so wide. I am treating every 2 hours as if it were 1 day!!!

 

[trendie]

example: Manic Monday. I am excited, and find it scary. I can get daily returns for a couple of hours.
It's stupid whats happening.

 

[Nowler]

Yeah.

But we did get a 7% drop out of it.

Shame that it didn't make the 13% threshold for a second freeze though.

Theres always tomorrow I guess.

Then again... the US session isnt tucked in for bed yet. The safety feature doesn't apply for the final 1.5hrs of the session. So theres still time for a bed time lullaby

 

[Nowler]

example: Manic Monday. I am excited, and find it scary. I can get daily returns for a couple of hours.
It's stupid whats happening.
View attachment 275761

Should definitely put your seatbelt on, that's for sure!

I start small and then scale in.
I can move my stops well out of the way, and if it does get hit, I brush it off.

Win rate is about 40%... but it's the ones that I scale up to a decent size is where the money is.

I think I'm approaching 10% growth for 2020.
For me, that's very good!
I closed 2019 out with 18% or so

 

[Nowler]

So the S&P hit limit up today...
After hitting limit down yesterday.

I surprised theres a limit up rule

 

[tomorton]

Bank of England emergency interest rate cut this morning, down to 0.25%. Said to be in anticipation of hit to economic activity from covid-19 constraints.

The right thing to do in the face of such uncertainty with little upside - its certain the virus will become widespread in the UK community. I don't expect the Budget will be as dramatic......