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Friday’s live trading – Charlie banks $1300 today…

Charlie has a reasonable day of trading but it was the election trade that gave him the bulk today….

Hi this is Charlie giving you Friday’s live trading. I hope you’re very well.


For the purposes of disclosure, the account already has closed positions. There was a trade I took on here last night, it was in at 1.5251 and it came out at 1.5395. The news came out and I was fortunate to have got in at 1.5251, I don’t know how I did it.


I walked into my office at 10 o clock, just before the news came out. What happened was it went up and then blipped back down and I managed to get in. Before I knew it in less than 30 seconds I’d made $1400. We hit 1.54 and I was happy to come out.


I’ve seen an opportunity to have a small long on Cable but I’m just missing it as we are talking. If we get a little dip then I’ll take a long just to see if we can get a few points out of this. It might be ten to 15 points so if we can get a little dip I’m going to see if we can get a long side play on.


Here we go, four units in. I’m going to keep the stops really tight. I’ll just press pause.



What I’m looking for is to see if we can get a bounce up to these upper bands. I’ve put the stops in at 29 and we’ll see. This trade should be over fairly quickly whether it comes down and stops me out or whether it goes up.


What I’m seeing is that we’ve had a retracement overnight and it’s hit a load of rising support on some of the higher time frames so I’m looking to see if we can get a bit of a bounce. It has bounced here and then retraced again so I’m seeing if it can come up again.


I’m trying to keep the stops tight. I could put my stops way down and it could still bounce…


… I’ve been stopped out. Trade over.


I’ve just lost $250. What I may do, if this doesn’t look like I can read too much into it now, I’ll just leave this alone. It’s non-farm payroll day. I’m going to leave this alone and come back to trading this afternoon. I’ll have another look at it but by the look of it Cable just wants to come down. I thought it might just have a bit more of a bounce. I’ll press pause for now.



Just back, it looks like I’ve been nicked because it’s just coming back up. If it has another little dip then I shall go for that. What I’ll do on the second opportunity is only put three units in. I’ve got to wait about three minutes for this candle to close.



Just back, this is annoying it’s come all the way back up and it looks like I won’t be able to get in now because it’s come too far and it’s already hitting some resistance. If we get another dip back down I might be able to go but its come too far for now. I’ll keep my eye on it.



So Cable did have a really nice run there, it’s a shame that it felt the need to come down and take my stop out. Anyway, that’s trading.


I think I’m going to leave this alone now this morning. It’s only 8am now but there’s nothing that I can see so I think I’ll leave it alone and come back later for non-farm payrolls.



Just back, it’s now two minutes to go until non-farm payrolls so I’m talking to the guys in the trading room.


The EUR-USD has been holding up a bit so far after coming down overnight. If it does come up what I’m looking to do is short it but I’m also watching USD-CAD so I may be getting into a long on that. I’m looking for a long USD-CAD if it breaks above 1.20.


I’m looking for some sort of reversal play on EUR-USD if it runs up to the 1.1290 area then we’ll just have to see how this is going to go.


So Euro has come up and CAD has come down. Euro has come up to that level so I’m going to be looking to short this Dollar…



…It’s not allowing me in. There we go, I’ve got in at a much worse price, I better get my stops sorted out just in case I’ve got this completely wrong. I got in at 1.13 so I didn’t get a good feel there at all.


USD-CAD has come down so it’s not done anything that I wanted as yet.


The EUR-USD has come up, now this might actually be a buy so I might be completely on the wrong side of this EUR-USD. It’s had a nice shoot up it’s done a pullback and this could fly so I could be wrong here I’m just leaving the entry as it is.


USD-CAD is really selling off which means the Euro could go a lot higher.


It’s settled a little bit so I’m going to get a second unit in on the EUR-USD so I’ve got two units in now and I’ve got the stops in at 1.13. Very easily this could shoot up and have me but we will see.


We’re coming down on the EUR-USD; I’m going to be looking to close out one of these units. I’ve just closed half at 53 and I’m looking to come out of the other half down here at 47 then I’m done.


I think there’s more trading to be done.


The loss that I had this morning on those trades I have completely made back up, almost exactly so so far so good.


I’m watching the USD-CAD and I’m continuing to watch the EUR-USD.


Why have I banked here on the EUR-USD? It’s purely because there’s a pattern on the weekly charts that I’m keeping an eye on and that’s what is key to me. We could come lower and roll over but the pattern on the weeklys is just about there or thereabouts.


I’ll press pause and see if we get another entry or another trade.



Just back, the Euro has run through as far as I went but like I said, it had satisfied what on the weekly charts I was looking for. A spinning top was all I was looking for. How it currently stands where I exited it is a spinning top on the weeklys.


I’ll bring up the weekly chart. Here we are, a spinning top as it currently stands into the weekly 21 moving average. It’s the first test of the 21 moving average in many months, so that was enough for me.


Could we carry on coming down and that spinning top turn into something like… I shouldn’t start, it could.


That’s that. I’m still looking at the USD-CAD this is looking interesting. I’m going to go long with half a unit and then I’ll try and build it. What I’m looking for on USD-CAD is if we can get up to 60. At the moment it’s still fairly early stages hence why I’ve gone in with half a unit because we want to see if this will carry on.


I got entry at 21 and what I’m looking for now is the closing prices and I want to see it close in this zone. We’ve got a couple of minutes to go.


If we close back inside then I can very quickly close out of my trade if this doesn’t look like it’s going to be right. That’s why I’ve traded it small initially until I get a bit more confirmation.


We’ll see. I’ll press pause for now.



We’ve got the nice close now so what I’m looking for is a little dip. I better get the deal ticket up because before we know it we could be up to 1.60 it could go as high as 1.80.


I’m going to give it plenty of slack I’m going to put the stop 20 pips below. It’s only a small entry and there’s a lot of volatility so I’m going to put the stop down at 21.


USD-CAD is coming down and I’m not actually adding anymore to it at the moment. I’ve still got that half lot position in. All of the markets are doing retracements at the moment so at the moment I’m just being a little bit cautious. Yes it’s a 20 pip stop but it’s only half a unit and I want to protect those gains we had on the EUR-USD.


You can see if we go out to the hourly chart, we’ve just got that potential for a bit of an indecision candle so I want to see how this is going to go. I’d love to see this carry on running up to that 1.2160 but we’ll see how this is going to start positioning itself. For now I’ll just press pause.



I’m going to start moving the stop up a little bit to 1.2105.



I’m just back and I have just been stopped out at 05, let’s just have a review of all these positions.


So I lost £47 but I still have the overall gains on the Cable, $649 plus the Euro trade of $264 around $1300 by the looks of things. That’s the total for the day but part of that was my trading last night. Anyway I’ll press pause for now.



Okay so there’s not a lot going on as we can see. We can see that the Euro has a really nice reversal but is now just going sideways and it’s a similar sort of thing with the USD-CAD that had a reversal back down and now there’s not too much going on.


It’s possible if USD-CAD comes back into this high zone that I might put a trade on but I think we’re pretty much done.


As it’s finished we’ll call it $1300, not a bad day’s work. It’s a shame about the Cable trade earlier that would’ve been a nice trade but not bad overall. Marginally down on today’s trading but overall a nice profit.


I shall leave you to it, there’ll be no update on Monday as me and Kym are travelling in Europe. We’ll be back on Friday for live trading.


  1. Manoj-Reply
    May 8, 2015 at 6:30 pm

    Hi Charlie, I was interested in the cable trade at 10.00pm as the poll came out – I find that in the second or two after a news release my broker freezes a little and I cannot get a position in. With your Saxo account do you find you can usually get in quite as quickly as you did with that rapid retrace then quickfire upmove ?

    • Charlie Burton-Reply
      May 8, 2015 at 7:48 pm

      Hi Manoj, no not normally, I think I just got lucky. In fact I was half expecting a call from them telling me they weren’t going to honour the trade! So no, trading volatility like that I wouldn’t normally be able to get in much like my trade on Euro this afternoon where I couldn’t get filled the first couple of attempts. It’s the same at any broker when trying to trade when big news events are released…

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