Spanish89- Opportunist Trades (2nd journal)

I just cashed in the whole trade at 1.0223 as i saw on the 30mins chart that there would be some strongish resistance there,
and above there is very strong resistance between 230-234.

And so especially with dow and europe all going down, with potential to go ALOT lower over next few days which would drag AUD/USD down too,
i decided to just cash in and find better opportunities in markets that are severely overbought or oversold instead.. :) :cool:


Made £43.50 profit from this trade though, so am very pleased about that.
 
Am feeling extremely happy now!! :D :cool: :p


As i just logged onto my trading platform at 8:50pm as i had seen on CNBC channel that Dow had recovered from being down over 250points to only down 80,
and so i was interested in selling S&P into the close and holding over till tomorrow.

I looked at chart, saw market was around 1203.5,
but i set a sell order to be triggered at market price of 1206.8 as i didn't want to sell at a lower price than that....


That level was touched for a fraction of a second by just 0.1 notch, but enough to trigger my sell order (which was only at £1.50 per point),
and then the next second market had dropped below 1205 putting me into £25 cash profit instantly!


I watched closely as it dropped very fast over the next 45seconds to1203,
and then i cashed in the entire trade at market level 1202.3,
giving me £60 cash profit in less than 5minute for simply clicking a button 2x!! :)


And it turns out that once again my exit was perfect spot on, as 1202.3 was the ultimate lowest point of the move down,
and seconds after i cashed in it shot back up to over 1204! :)



I know i didn't livecall this trade like i normally do, however thats because it all happend so quick that i didn't want to risk missing my entry or exit by typing on here.
But ive attached a screenshot of my trade history for today to prove i haven't just invented this trade. :)
 

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So the £60 profit from this, £43 from my AUD/USD buy earlier, and £3 from my S&P trade at midnight lastnight ive earnt £106 profit today! :)

Which im extremely pleased about as i earnt the £43 during the 5minutes of being in my shower,
and the £60 during the 5minutes of me sitting on my sofa watching tv,
so doesn't actually feel like ive done any work at all today! :p



The S&P trade i made at midnight got quite fuckedup by the broker though,
as i had put my sell order to in if market hit 1217.

However instead of opening at 1217 the market opened at 1202.2,
so my sell order should just have been left sitting where it was waiting for the market to rise....


However the broker decided to fill my 1,217 order at 1,202.2!! :@
So 148points slippage!!

And not only that, but instead of filling me instantly when market opened at 11pm,
until 11:13pm on my platform it was showing my order as ''pending execution'', meaning that i couldn't cancel it,
but neither could i actually cash it in as a trade as it didn't yet exist as an open trade.

Then suddenly at 11:13pm the trade opend, at a sell price of 1202.2 (so 148points slippage and taking 13minutes to actually let me access the trade!!),
and then to top it all 1second later the trade suddenly closed and said i had just lost £75!!! :@



I was shocked and stunned at what fucking stupid shit was going on, so got on the phone to ETX and was confronted by their brainless yet arrogant brokers who were taling in patronising voices trying to convince me that i was the 1 who didn't understand slippage....!! ect

Which started to get me quite pissed off, and so i said that i understood exactly what slippage is as ive been trading for over 3years,
but that he clearly didn't seem to understand the basics of broker-side order execution as he filled a limit-order before even filling the trade entry!!


As for my sell order of 1217 i had pre-set a target order at 1206.9.

However instead of just filling my trade at 1202.2 the second the market opened and then leaving it as that for me to trade on,
they took my target order from my sell order, turned the target order into a stoploss,
my my account into a loss for the amount of that stoploss,
and ONLY THEN actually executed the trade that all this activity related to!! :@


Needless to say, as the level of 1206.9 wasn't even touched, and so if my trade had been opend at 11pm i would not have been stopped out,
they reopend the trade for me from 1206.9, and i cashed in at market level of 1201.8,
so recovered the full loss that they had tried to scam me into taking + made £3 profit! :cool:
 

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Quote from Jestersofmalice:

good luck.
Im shorting ES here too at 1214
More...


Cheers mate.

What 'signal' did you base your trade and entry price on though?
Whats your target?

And how long are you interested in/willing to hold the trade for??
 
Quote from spanish89:

Cheers mate.

What 'signal' did you base your trade and entry price on though?
Whats your target?

And how long are you interested in/willing to hold the trade for??
More...

Entry was just from reading the tape (something im still trying to learn to add to my arsenal), looking at the order book/bids-ask etc and coinciding with the fact that the ES might have moved up too much too fast.

I actually shorted oil as well, at the exact same time, although I already closed that one fro a quick $225

Im hoping to see the 1200 area over the next day or 2, although I took the ES trade on my new spreadbet platform because im still learning this method, and so only placed a tiny trade of £4 per point, so I can afford to hold it until it pays me my money.
I'd like to watch the market and judge the exit, but I have to go out within the next hour or so for the evening!

oil trade blotter attached: Up $742 on the day so far
 

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Quote from spanish89:

Cheers for reply mate.


How exactly do you get access to the bid/ask order book of the market though?? :S
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I guess you need an account with a futures broker.

Don't worry about it too much though.. I'm still not sold on it. There's lots of tricks constantly being played by market-makers and other players and all sorts of other things which makes it easy for them to hide their intentions in the oder book, meaning it's hard to take advantage of the order flow information.

Stick with what you're doing - it appears to be working for you
 
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