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Sam@ezeetrader.com

Friday’s live trading – £900 banked on the second trade

Just two trades today as I went out late morning. A good demonstration of running the profits when the market is telling you there’s good potential….

3 Comments

  1. Alan-Reply
    January 26, 2013 at 4:58 pm

    Interesting to see how given the same data, and roughly the same chart settings we choose different options.

    I got in short on the bear flag after the news, although I was thinking about going long at the bottom as it ran into the prior lows but was hoping would roll over. Unfortunately I shorted and hoped their would be some follow through but it never came. Eventually did get long on the position but not enough to recoup the earlier loss.

    I guess it comes to down to experience, and I suppose given that there was still positive momentum, and a divergence on the hourly as it approached the lows, the long was probably was the higher % play.

    • admin-Reply
      January 29, 2013 at 6:20 pm

      Hi Alan,

      Yes we often note that a number of traders see different opportunities. I was trading with the guys in the trading room and we had shorted some time before the GDP figures had been released, so we benefitted from the big surprise move, plus we also shorted the flag but took half profits close to the double bottom and were stopped at break even for the other half.

      My view was that there had been rumours that the figures were going to be above expectation and we had seen a rally on the basis of this into the hourly 50ma. This worked in our in some of our traders favour which resulted in a good day for many.

      One thing for sure within these markets is that you have got to keep an open mind and watch for the early signs of change particularly when we have had big moves in any direction. We watch for extremes and expect the potential divergences as price retests highs or lows. As we were watching the flag part of the trade we were aware that if managed to return towards the lows there was potential divergences and hence reversal on a number of time frames.

      Best wishes

      Kym

      • Alan-Reply
        February 10, 2013 at 3:29 pm

        Thanks for the insight Kym.
        A

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