Almost a full day’s trading
I had a day off from work today and I thought I’d try and sit through a whole session trading. However, what happened was that I traded the FTSE in the morning, then went out for lunch and then back in the evening again.
I traded the FTSE early in the morning
It was a quick 10 minute trade where I went long at around 5500 (nice round number) and then exited 20 points later at 5520. As you know, I like stochastics a lot and the timing of the entry and exit were due to the stochastics crossing. I spreadbetted this and with the brokers spreads on either side of the trade, I ended up making +13 of what should have been +20 (in a spread free world)
Anyway, I went out for lunch and got back around 3pm GMT. I watched the market for a couple of hours before I entered my first trade.
Stochastics in both 5 and 15 mins were turning up.. I went long at 126400 with a target of 126800.. I was targetting just below the previous intraday high. This hit target for a satisfying +16 prices.
The next trade was a short at 126950 and I had targetted 126550 with a stop at 127200. When I enter, I then usually put in the stop and limit orders. The stop order went in fine but when I put in the limit order, I got an error message. As the market started to move, I tried to move my stop to entry.. once again, the error message popped up. I called my trading mentor to explain to him what had happened.. I’m not sure if he believed me or not so I sent him the error screens. Anyway, if the trading platform had responded to me, I would have got another +16 points! However, as it hadn’t taken the limit order or my new stoploss, the market shot up and hit my stop at 127200 for -10…. grrrr!!
My last trade was an attempt at the double top which I expected to form. The stochastics in both 5 and 15 mins were showing overbought territory.. surely the market would bounce from here. I had an order to short at 128700 (previous high). This got filled and edged higher to hit my stop at 128875 and then a little bit more (it went to 129000) and then tanked!!! I was correct in my analysis but perhaps a little early. This was a -7
Overall -1 today which should have been a lot better if it wasn’t for the trading platform playing up!
After the trading day, I felt absolutely exhausted.. my eyes were acheing like hell and I had a headache!! All this for a measly profit! Anyway, my account has been sorted again!
