I put on a FTSE short this morning on my spreadbetting platform at 5780 with a stop at 5820.. it started off a bit dodgy and then hit my stop by 0.5 points before falling (5820.5)!!! Arrrgh! This is really annoying and I ended up nursing a 40 point loss.

The price is currently 5745 which would have been a nice profit at this stage!!

I should have put the stop a bit higher, I was thinking of it as it had previously bounced at this level. With spreadbetting companies, they move their spreads around also so I should have been wary of this but it also means taking a bigger hit if I’m wrong.

Oh well, it’s probably a reason not to trade also during the day when I can’t watch it properly!

Tags: buy, cmc markets, daytrade, finance, ftse, igindex, points, prices, shorting, spreadbet, Spreadbetting, stock market, Trading

I made one trade today, long 141225 when the 4 min stoch and MACD were looking like they were heading up. The 15 min stoch also was heading up…  I was cautious as the MACD was still in a sell state.

I bought in and the market moved quickly upwards, it reached my 10 prices and I moved stop to breakeven. However, soon after this market fell and stop got hit. I ended up with no loss or win…

Tags: contracts, daytrade, daytrading, divergence, double bottom, dow, dow jones, emini, futures, long, macd, pips, prices, short, stoch, stochastics, technical analysis, Trading

Our trading mentor informed us not to trade until his say so after Bernanke said his thing. Bernanke took over from Alan Greenspan and is currently the Chairman of the US Federal Reserve… when he has something to say, the markets can move and when I came home, I saw that the market had shot up and generally looked rather choppy. I wasn’t sure I’d be able to find an opportunity today but I did.

I shorted the market as it reached the previous high of the day at around 142900. I got in at 142875 and rode it for 10 prices to 142650. I was a bit careful with it as it had been in an upward trend for the 30 mins and even though the 5 min stochastics and MACD were in overbought territory, the 15 min charts still had room to manoeuver.

At some point, it did look like it could have moved lower but I’m glad I made the decision I did as it has shot up since and making new highs for the day.

Tags: bernanke, contracts, daytrade, daytrading, divergence, dow, dow jones, emini, fed, federal reserve, futures, macd, pips, prices, stoch, stochastics, technical analysis, Trading, trading blog, trading news