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New Homepage Community General Forum February 2019 Trades

This topic contains 7 replies, has 1 voice, and was last updated by  Matt Vann 5 months, 3 weeks ago.


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  • #14550

    Matt Vann
    Moderator

    Yes yes, I know … I didn’t post much at the back end of last month and I haven’t posted much this month.

    Part of the reason has been that I was in the process of moving broker, another part was that I was finding, as I’ve mentioned previously, that my posting here was affecting my trading and as one is rather more important than the other, something had to give.

    Anyway, I switched brokers from a well-known Spread Betting broker to an equally well-known FX, CFD, Equity and Futures provider (one that we list here on the site), for two reasons;

    1) I kept getting stopped out of positions that I really shoudn’t have been stopped out of, usually by 1-2 pips, because of the way the brokers’ spread would vary at particular times. My risk is always extremely well defined and I felt I had been hard done by. It’s this behaviour that usually encourages people to switch brokers, and it’s exactly that that made me switch. If you look at my old charts it won’t take a rocket scientist to figure out who I was trading with.

    2) I wanted more options and a more professional platform on which to trade. I had been using my main laptop – a 2012 MacBook Pro – as my work/trading machine and I wanted some seperation there too, although I could have done this with the previous broker. But, I wanted to trade the underlying market, not my Spread Betting brokers’ interpretation of it, for the aforementioned reasons.

    So, the switch was relatively easy once I got past the, er, slightly unexpected challenging questions that were coming from the new broker. Suffice to say they were just doing their job.

    At the same time, I had an old Mac laying around which has never been used really. It’s a Mac Mini Core i5 2.5GHz late 2012 build, probably about £300 on eBay and I think I only paid about £450 for it back then, but it doesn’t need to be fast or have amazing graphics capability.

    Anyway, I spent a few hours updating the software to the current OSX build (cost: £0), and about £70 upping the memory from 4GB to 16GB. I then bought a second 21″ Benq monitor (£70, Amazon) and a new 1m HDMI cable (£4), all of which was paid for by previous trading profits – always nice. The end result is a much more professional looking and working trading station from which to sit and do my thing. And, I’m quite happy. First trade on the new setup today was profitable, a brief EURUSD short this afternoon @ 1.1291 which I took profits on at 1.1278.

    Watch this space for Feb updates.

    • This topic was modified 6 months, 1 week ago by  Matt Vann.
    • This topic was modified 6 months, 1 week ago by  Matt Vann.
    • This topic was modified 6 months, 1 week ago by  Matt Vann.
    • This topic was modified 6 months, 1 week ago by  Matt Vann.
    • This topic was modified 6 days, 22 hours ago by  Steve Plummer.
  • #14555

    Matt Vann
    Moderator

    Here’s an example of a trade I ran this afternoon, the above-referenced EURUSD short.

    I had a stop in to liquidate the position at 1.13010.

    With the spread betting broker, that stop would have been triggered, absolutely no doubt about it, and I’d have been out for a small loss. But with my “new” broker, when we’re trading the actual market, the stop was missed. Not by much, I’ll admit, but enough.

    It’s this kind of thing that can make all the difference to winning/losing trades, and if you’re getting stopped out a lot by your Spread Betting broker (and a lot of people do), then it might be worth making the switch to someone else.

    Spread Betting broker high: 1.13014

    FX Broker high: 1.13007

     

    • This reply was modified 6 months, 1 week ago by  Matt Vann.
  • #14569

    Matt Vann
    Moderator

    Interesting little run on EURUSD this morning that caught me out.

    Price was trading in a bit of a channel, so I shorted towards the top with a sensible short stop some way outside the range at 0650 this morning. Sure enough, after a brief period, the price jumped up outside the range and then traded back within it – typical stop run behaviour. Price begins to fall away … so I moved my stop to breakeven and waited as it sold through 1.12800, 1.1279, 1.1278 … then price reversed and took me out for breakeven. Bummer.

    Price continues upwards to 1.12888.

    And this, it turns out, is the stop run. My theory? Everyone saw the initial stop run and got short. Including me. Then, the actual stop run reveals itself in the run back to 1.12888, as price utterly collapsed shortly thereafter, selling off to and beyond my initial target of 1.1267, the bottom of the range.

     

  • #14595

    Matt Vann
    Moderator

    Just been stopped out of my USDCAD long from this morning, but stopped out for a decent profit of +21. The news spike that resulted in the stop was US Mortgage Applications down; with the additional news due out at 1.30pm today it was always going to be a news-driven exit. Long from 1.3208 this morning and stopped at 1.3229 just now

  • #14844

    Matt Vann
    Moderator

    Last post of the month I expect, despite tomorrow being the last day of the month. I’ll start a new thread for March.

    Short on EURUSD today from a double top at 1.14002, aiming for 1.1375. We didn’t make it, but I made it to 1.1382, a total of +20, before I decided price action was against me and pulled it. Shortly after, it traded back up to 1.1392 and has buggered about since.

    Below is a multi-hour screenshot showing D1, H1, M15 and M5 setup on EURUSD.

  • #14845

    Matt Vann
    Moderator

    Took a while, but price eventually got to (and just past) my target price of 1.1375, but with a pullback all the way to 1.1393, quite a retrace. Would you have held it through that, or liquidated earlier and banked profits?

  • #14873

    Matt Vann
    Moderator

    Can’t resist posting this one for the last trade of Feb 2019, just because it was a corker, albeit a lucky one.

    Ahead of US news I was long USDJPY, for a few reasons: a) 50% Fib Retrace b) some solid-looking support around 110.700 on the hourly chart, with long tails to candles … often a good sign of strong support.

    So, long ahead of the news at 110.778, with a target of 111.000.

    As the hourly chart shows, it was a solid move for +22, and price continues to push higher to 111.070 as I type, but we’ll probably get some resistance or a retracement at this level.

     

    • This reply was modified 5 months, 3 weeks ago by  Matt Vann.
    • This reply was modified 5 months, 3 weeks ago by  Matt Vann.
  • #14878

    Matt Vann
    Moderator

    Well. I let that one off the leash early, but in my defence it was a news trade, and in my experience those babies tend to pop and go (back to where they were pre-news).

    Just not this time. Currently we’re at 111.40

     

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