Monday 27 June 2011

Can't believe it!

Last Thursday I stopped out -1900 euros, the Euribor-Bobl which I had just started spread trading literally collapsed! I can chart it for the last 3 weeks and it has about a 12 tick range and has been bouncing around perfectly. Almost as soon as I decided to trade it it fell massively. It stopped me out on Thursday along with the fly which made a reasonable move. Then on Friday I was up 1100 euros by 9am and I am not sure how I did it as the spreads had barely done anything. The Euribor-Bobl spread had retraced a bit and then continued to move down. I was down to 100 euros up and was getting out, I stopped out half my position on the Euribor and got a ticket for the bobl 1 price above market ready to take it if it got there. This gave me a chance to put my Euribor back on at a better price and avoid stopping out. I qued various prices and got filled on all of them and made 500 euros. I put my spreads back on full size and was up 900 not too long later.

Then the spread pushed lower putting me to 0 and I got half my position off and did the same thing, profiting 300 euros on the Euribor. I thought surely I have survived this huge move, please don't make all this outright trading for nothing. I am soon printing up 700 and then about an hour later -85 euros and I am getting out again! I trade the Euribor and Bobl outright loosely and not really as a spread but remain very much in the spread. I get it positive and put everything back on that I had taken off. I sell 1 clip 2 ticks of the low of a 25+ tick move and hold 75% of my maximum position over the weekend and I am printing +500 on the lowest traded price, so seems a success.

This morning I come in and improve my average position and then quickly am able to get my position off completely as it retraces 6 ticks and then continues another 6 although I am already out. This brings Fridays trades to +1400 euros, which makes it my best day in trading, suprisingly. I survived the huge move which just seems unbelievable and below is the spread which I took a screenshot of on Friday (the left one has a timeframe and the right one is last 2 and a half months)

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