Thursday, October 1, 2009

Trades 103 to 109


The trades from yesterday and today.

Overall profits on completed trade $305.43, although I have an open position of 200 short which is about $79 in the red.

I've tried to trade the MQG this afternoon based on the breakouts of all major stocks, thinking that MQG will also hit and break below the intraday low - it didn't even get the intra-day low, and I made the situation worse by adding to the short position.
I found it really curious that all the financials, ANZ, CBA, WBC were tanking, and MQG was holding up quite well (although it was already down 1.7% on the day, this could explain the reason for it's relative strength late in the afternoon).
I was trying to read the order flow for MQG in the last minutes of trading, and it seems like that selling offers were quite light, although there seemed to be a lot of fake bids as well.

I also prematurely closed bhp earlier in the day, and prematurely closed off cba, only to see the index fall below 4700, as I had expected. This was an extra $40-80.

I am timing my short entry a lot better, as this morning I had planned to short any price near the R1 pivot line, using candle and TICK confirmations.

I have almost completed my analysis of my first 100 trades, and I'll post that up later.

I've been getting the feel that I should start playing poker soon, so I'll do that when I cash out the profits from the nfl fund.

I've also added LGL to my long positions @ 2.87, the break of gold prices above 1000, is a positive sign that gold is heading north.