Tuesday 12 October 2010

Fly break out

Between 7am and 7:20am the fly tanked, 30 ticks. I was showing -1600 euros and bought some bobl to stop myself out, I ended up putting it back on at a worse price as I saw the momentum change in my favour. The fly did come all the way back but only half way initially. I didn't hold it for that long, I cut my position down to just 1 clip and was showing -500. I took that off and was completely out of the market with a PnL of about -400. I traded the TED for the rest of the day and finished up 65!! I didn't make a huge amount of trades so I didn't lose to much after costs. I did get so frustrated again though, I was first in line in the bobl to get filled and bought the bund back, it instantly fell and I didn't get the fill in the bobl and I missed the next bobl and the next... just before taking the bobl at a crap price I decided okay I will buy back the schatz here which was my other leg, I clicked to que the bid and it instantly was offered by 1700 and the price below traded. I then sold the bobl outright by hitting into about 15 lots and BAM it went 500 bid and traded up. It was so frustrating.. but I am so happy that I didn't have to stop out at -1600!!

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