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 Nov 2006 Dec 2006

Date Time  Comments
29/12/2006  

 

Here's the last few days of activity on the hourly chart. Note the end of year closing volatility - something to stay out of I think!

 

28/12/2006 22:43

As prices were moving down slowly, I closed the second position @5648.

 

Trade 1 = 10 points + trade 2 = 12 points = 22 points profit (inc spreads).

 

28/12/2006 18:32

 

A nice pattern developed over the last few sessions and taking on board the modified 07 Strategy, it was a 'Twin Trade' today:

 

Sold @5664 with 10 point limit.

Sold @5664 with 20 point limit.

This is the chart after the close around the time of this entry:

The first trade with a 10 point limit (remember spread betting) was hit around 13:54 and the second trade rolled over with the market ~ 5652 - so at a profit. Stop moved down to 5670.

 

21/12/2006 16:11 Not much happening today in light pre-Christmas trading.
  17:47 Prices did move higher and then I was stopped out in a volatile close by 2 points - the second trade to do this in a row!
  11:45 Prices have since sunk lower (but not to stop the trade out), hopefully finding support now for a push higher again.
20/12/2006 11:03

 

Strong breakout of a large consolidation range this moring, so buy @5604:

 

19/12/2006 10:38 A triangle pattern looks like it may be starting to break out, BUT, I've found these patterns unreliable to trade in that they give false breaks. Prices may drift down but I think we are in for another new high so I'll stand aside and wait for a more reliable signal.
    Stopped out in the night session - pity, as it was only by a few points and prices came back down.
  16:28 Rolling over to the night contract.
15/12/2006 15:03 Prices went as high as 5620 overnight (spread betting quotes anyway) and gapped down at the open.

After making a low at around 11:12am, they slowly crept higher in what looks to be a counter trend move.

I got a signal in the morning, but with prices dropping quickly, I didn't want to get in at those levels.

Prices are dropping far quicker on the falls and taking many times longer to re-cover lost ground.

I waited until a 'choppy' 3 wave rally had painstakingly worked its way out and sold @5583, Stop 5603, Limit 5555.

  15:53 Hit target @5561 for 24 points profit (less spread).
  15:02 We've been up at 5557 earlier - hopefully another push higher will hit my target of 5561.
  11:41

Prices rallied a few points before a second small decline to a low of 5531.

Currently around 5540, we should hopefully get another wave of buying to move to a new high (and my limit).

   

 

Here's what it looked like on the 1 min chart (lucky to catch to low):

 

14/12/2006 10:55

 

A strong open today and a buy signal. I bought @5433 when prices came back a bit.

 

Stop @5513, Limit @5561.

1 Hour chart:

  14:52 Eventually closed out @5487. Glad to be out of that one.
  14:21 Prices came to with 0.5 point of my stop before coming back - doesn't get much closer than that.

Now at ~5486 & sinking slowly.

  11:18 The SPI traded in about a 10 point range for the first 45 mins today - before spiking higher to nudge over 5500 and to just miss my stop, again.

I've set a limit to get out ~5470. If that doesn't come soon, I'll get out around 5487 or better to break even or make a few points to get out of what is becoming a messy trade.

  09:51 Prices have opened around 5482. I'll see what happens - and will probably 'buy to close' at an early dip, if there is one.
13/12/2006 09:47 The 'Daily' Spread Betting contract, that I trade, closed @5479 after dipping to 5464, just shy of my profit limit (damn).

As the trade was in profit, I rolled over to the night contract (as you can do with spread betting), which is currently @5475 before the open.

  15:21 Back on track ~5475 (+12 points).
  10:45 Prices rallied up toward my stop, but kept me in by a few points - coming back a bit now.
12/12/2006 10:21

Another setup today - this one looking much better than yesterday:

Sold @5487, stop & limits shown below.

11/12/2006 10:15 Thought I got a signal @5434 and sold today.

Being a bit hasty and took a loss - pattern wasn't properly formed and traded too early in the day.

07/12/2006   No trades again - letting a consolidation pattern work itself out. With a day off tomorrow, hopefully next week will provide some good opportunities.
06/12/2006   No trades today.
  15:46

Prices moved sideways to up most of the day and looked like the may be headed further north at times.

I kept my short position and when things started to slip quickly, I decided to take a profit @5438 rather than wait for my original target of 5430.

There's no point being greedy, things can often swing around into the close and 20 points (less spread) isn't too bad.

Final exit point marked with blue line below.

05/12/2006 11:09

Another signal today.

Sell @ 5458.

Stop & limit shown below.

Again, prices broke resistance & I waited until they rallied back to get in at a better price.

  16:34

Hit target of 5442 for a 24 point profit (less spread).

 

04/12/2006 12:10

Prices rose strongly at the open to give a signal early on (~11:00am).

I thought I'd wait until they came back a bit and bought @5414.

Red line is the stop @5394.

  - Currently running at 66.7% wins, 33.3% losses. So 2 out of 3 (that includes trades made before posting, over the last few months).
  11:54 Stopped out. Agh!
01/12/2006 10:40 Another signal toward the end of the night session. When a signal is close to the open, which can be volatile, I prefer to wait to see what happens in the first 30-60 mins of the day session.

Today, prices jumped higher to complete a pattern. I waited for a retracement to about the level I would have got in if I traded in the night session.

Buy @ 5481

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