James Brick and Mortar Discretionary Trades

>> Trade Open <<

Short FDAX a lot @6940.5.

Looking for some profit taking on the greek bailout package, which is more than just priced in.
 
>> Trade Update <<

Took some off at 6930-35.
But most part of position remains on.

10 Short FDAX remaining, stop placed at entry level 6940.
 
There seems to be a good chance of some more legs down


EDIT: seems as a stop out is imminent, i don't like that, as i'm pretty sure we will see quite a downswing at some point today, but with the past action, this thing could also pop up 1% pretty fast before finally losing steam...

Thus stop is in place and will be enforced at entry for the remainder.
 

Attachments

>> Trade Close <<

Closed FDAX short, took some off, after it failed to move a leg lower after the new low to 6927 (around 6931), and rest bought back 6939.

PnL after comm.:
+ 2102 EUR = +2785 USD

_____________
New Balance: 512'418 (+12'418)
Open Positions: None
 

Attachments

>> Trade Open <<

Minor Position, short 3 FDAX @ 6929.5, on possible sell on good news.
As this trade might be crowded, a quick up move is possible. Stop around days high of 6950, looking for <6900
 
will be interesting to see how you handle move against you.

i dont like taking profits that are smaller than risk. Worked well in the past until got couple of consecutive full losses. Then stopped liking it.

What is your experience ?
 
>> Trade Close <<
Market went into "swabble" mode...

Short another 3@6935.5, and then closing the whole position at around 6932.50.

Profit/Loss ~ 0.
 
Quote from macroman:

will be interesting to see how you handle move against you.

i dont like taking profits that are smaller than risk. Worked well in the past until got couple of consecutive full losses. Then stopped liking it.

What is your experience ?
More...

Yes, you are absolutely right... that's when it gets really interesting.

there will be that -30k for sure at one point, it happened in the past an will happen again.

I try to get in, when momentum is somewhat in the direction of my trade, but it does and did happen that i find myself selling at the low or buying at the top...

however not getting stubborn is key in those cases, really being able to pull the cord...

One leak possibly is, that when the trade does not really move in my direction but neither yet really into the other, instead of taking a small loss i sometimes try to get out flat or a small winner, doing some scalping... however, this could fire back if a move really accelerates into the "wrong" direction...
 
>> Trade Open <<

Jumping onto the squeeze train... however a low conviction trade, so only long 2 FDAX@6970.5, stop 6950.5.
 
>> Trade Update <<

Long got stopped out and turned position around to short -5 FDAX 6954. If intermediate top was established at 6976, this could be the start to the post greece sell-on-good news
 
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