Friday, October 12, 2007

October 12th - afternoon

I start the afternoon with a scratched sleepers trade

GE reporting I see the FTSE at 6725 and think to myself...You should take that one long...It's 1pm, you don't trade the lunch period...let's take a look at Marketwatch...yes the numbers are not bad...hey the FTSE is at 28, now 29, now 30

Long 32


Exit 32.5 for 1 tick...this is exactly the kind of trade I want to avoid!!!


Watching now for a correct entry

Long 25


Looked like a possible support...but wasn't ...about to be stopped on high selling volume suddenly coming in. Strange FTSE the only one affected, other european indices staying put or slowly trading up. Bad luck. Only thing to say is, that I should have exited earlier when I saw the high selling volume coming in, which brought the FTSE downto 20

I have to take a break

Long 32 exit 32.5 and a bottom at 15 in between


That move went to 41 in the end. I thought about waiting and staying in, but I have to go now and did not want the trade to remain open