Spanish89- Opportunist Trades (2nd journal)

Quote from spanish89:

As posted last week,
my buy order for JP Morgan was filled 5mins after the market opened today at 3,256.

And i just cashed that trade in at 3,354.

So earnt a very nice 98pips profit in just under 1hour! :)


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Instead of showing us the chart, show the blotter with the 300 gain.
 
Quote from spanish89:

So to summarise this VIX trade-

I will buy at around the 18.65 level.

I want that level as its been a key solid base support level for 30+ years.


I am looking to hold this trade till late June at the earliest (so 1month from now),
but dont especially want to hold it for longer than 3months/
Although it doesn't cost me anything to hold it for as long as i choose.


Target for this trade wont be a price mark,
as the VIX simply doesn't react to any kind of resistance levels.

But so my target for this trade will be to cash it in about 25-40% the way into a markets-meltdon that would occur once Greek defaults (or horrific headlines come out about it happening).

So the exit will be purely based on the economic news and headlines,
although i would refuse to cash in before the 40.5 level.
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June VIX is at 25.
 
Quote from spanish89:

What trades are you currently holding / looking to make though mate??
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At this very second in time I'm long CL (crude oil). Only really a boredom trade at just £5 per point. currently only up around 25 pips. I'm just gonna hold it until it makes me £500 or so.

I'm just trading on the side for fun at the moment. Got a new job which limits the amount of time I can spend on trading, so i just trade tiny stakes of £5-10 per point to keep me interested and try to make some extra money.

You seem to be calling the market quite well at the moment. Good stuff.
How do you afford your own place and stuff if you only work 2 night per week out of interest? Or do your trading profits pay the rent?

good luck
 
Quote from atticus:

Instead of showing us the chart, show the blotter with the 300 gain.
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I an very easily show a screenshot of my p/l,
and have done that 100s of times before anyways..

However P/Ls dont are almost worthless, as anyone can photoshop their p/l in mere seconds to show whatever profit amount they want... :D lol


Thats why everyone else will post screenshots of p/ls,
but yet no-one else is ever willing to actually livecall IN-ADVANCE every trade that they make... :cool: :p

However i actually live-called that JP Morgan trade inadvance though,
and it the market did exactly what i said it would, at the exact levels i said it would. :)
 
Quote from atticus:

June VIX is at 25.
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Yes the contract of VIX i trade is the monthly contract,
which trades at a 3points premium to the daily Vix.


I have quoted the VIX based on the daily one though, as thats what most people refer to when talking about the Vix.


But so my trade will be (order is already setup) that when the daily Vix touches 18.65 (so monthly contract touches 21.65) i will buy it at £8 per point.


And target is 54+
 
Quote from spanish89:




But so my trade will be (order is already setup) that when the daily Vix touches 18.65 (so monthly contract touches 21.65) i will buy it at £8 per point.


And target is 54+
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Why put such big target on it though? (+54).
You seem to often put targets really far away, and then close them for a tiny fraction of that target move once it starts moving your way...???...
Hope the trade works for you though and pays off.
 
Quote from Airwaves:

Why put such big target on it though? (+54).
You seem to often put targets really far away, and then close them for a tiny fraction of that target move once it starts moving your way...???...
Hope the trade works for you though and pays off.
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I know that i often do cash-in my trades before my ideal target,
and so naturally get annoyed when the market does hit my target after ive cashed in...

However when looking back at my trading record over the last 4years,
the reason why i have always done so sucessful,
and why im still around when so so many others have failed,
is because i have specifically that... :) :cool:


Ive missed out on a huge amount of money by not taking the risk of holding till targets,
however ive also saved myself from giving-back so so many thousands of pounds by cashing in on a discretionary basis instead of 'hard-targets',
which if id left the trade open till would have never been hit, and instead wouldve lost me money.


So overall im satisfied with my discretion
 
Quote from Airwaves:

Why put such big target on it though? (+54).
You seem to often put targets really far away, and then close them for a tiny fraction of that target move once it starts moving your way...???...
Hope the trade works for you though and pays off.
More...


I dont class 54 as a big target at all though mate.. :)

As if you look at the chart over the last 30years all it takes is 1 bad economic event to send the VIX rocketing from the 20s to 50-60... :p


*Lehmans collapse, Vix rocketed from 30s to over 80 in mere minutes!

*1987 crash, vix went from around 9 to over 186 in about 1day!!


And for the Greece stuff-

Last year in september when the greek prime minister did that day when he said greece wasnt going to agree to the bailout VIX went from 30 to over 60 just based on that 1 headline.

A few weeks ago when there was the worry about which government would take power in Greece Vix shot up from about 14 to mid 30s in 2days.

And so as June 17th elections in greece approach people will start panicking, and vix rises.
If non-auesterity government take leads in polls vix will rocket.
If they win, id be expecting a 65+ hit on the VIX.


*If greece announced this afternoon that they wont agree to the auesterity and are defaulting VIX would be at 80-90.

*If Merkel said in a news conference that there were talks about greece leaving euro even vix would be at 60 in minutes.

*If non austerity government comes into power vix will be around 75 within days as fear and panic englufs markets.


I personally cannot think of any scenario even in which Vix would actually fall and then remain below the 15-20 mark! :cool: :p
 
Have also just placed a buy order to buy oil at 88.26,
with a target attached to that order of 89.93. (So 167 ticks)


Would like to have that order hit and completed today,
although market looks lifeless with no movement.

Am going out sunbathing today though so not going to be manually watching/managing trades today.
 
Have just bought oil at 87.63.

Target is set at 88.93, so am looking to scalp 130 pips profit from this trade.

Its only at £2 per pip, but am using just £1,100 capital so will be approx 30% return. :)
 
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