Closed out my short put spread so I have upside risk above 5466, but with a few bizarre possibilities from planetary alignments to rubbish job numbers(even though they are fudged) to a global catastrophe or some nutcase with a bomb, I do not think it prudent to be long for now.
Having now seen most of 'Floored' the film about pit traders in chicago, I know I am not alone inbeing baffled by the market since mar 2009, but like some of them it's a case of adapt or die.
Well I'm still here.
Wednesday 28 July 2010
Saturday 24 July 2010
Back on the horse + DOW
I'd closed out a while ago and now I'm back in the market- very modest size for now, but a vast amount of paper trading to confirm what I felt about my latest strategy- it should be robust enough not to lose money in the event of a 10% move within the options expiry cycle. I'm not going to reveal the strategy suffice to say several vendors offer this at $100 a month.
Still watching cable trades(profitable and simple) adapted from john Piper's PBW system which had an awful run with FTSE, but also very excited about real time forward testing of my own simple trading system for DOW.
Just recently it occurred to me that DOW moves outside US market hours on certain spread bet platforms, and while spreads are wide, the moves are often prescient, giving substantial gains from easy entries. Thursday a case in point- 210 ticks going long at 07:38 UK time.
The trade was at no point at risk of hitting its initial stop, but using a move of +15 to move the stop to break even, it was just a hold all day long.
How much is it worth to be able to place these trades knowing the worst case scenario is that you will lose nothing?
I challenge anyone to dispute my claims when I say this method can produce 200-300 ticks per week with max 10 trades.
Still watching cable trades(profitable and simple) adapted from john Piper's PBW system which had an awful run with FTSE, but also very excited about real time forward testing of my own simple trading system for DOW.
Just recently it occurred to me that DOW moves outside US market hours on certain spread bet platforms, and while spreads are wide, the moves are often prescient, giving substantial gains from easy entries. Thursday a case in point- 210 ticks going long at 07:38 UK time.
The trade was at no point at risk of hitting its initial stop, but using a move of +15 to move the stop to break even, it was just a hold all day long.
How much is it worth to be able to place these trades knowing the worst case scenario is that you will lose nothing?
I challenge anyone to dispute my claims when I say this method can produce 200-300 ticks per week with max 10 trades.
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