At about 1am last night my account was live! I got it ready for the open at 5.30am. I tried sleeping at about 2.30am but got about 1 hour...
At 5.30am I was ready, I soon realized the software wasn't updating the 3 year Australian Bond so I had to keep moving the ladder continuously which seemed to update it without fail, but I have someone looking into it for me already. I saw a large formation of inverse H&S on the 10 year chart last night and decided it's worth sitting back and watching rather than instantly putting a trade on on the open. As the spread was low on the week, I had a good reason to buy the open, but I watched the momentum build and a big move is 5 ticks on this spread, it moved 4 and then I got in, it went another and came back a little and I took less than a tick profit. I worked the spread buying it lower and lower throughout at the day, in total it moved just over 6 ticks. 5 ticks is enough to stop me out for a huge loss as I will continue to buy more when it goes against me most of the time and today was the biggest move in over 3 weeks. But I had managed to buy it throughout the day and still profit, but not only that my account has grown by ~2%! wooooo, a great start! Now the spread seems to be going all the way back to where it opened, but I won't be selling it this low because of software problems plus lack of sleep plus Friday afternoons aren't a great time to spread trade means I am calling it a day.
It's great to see everything I researched and calculated coming together and the markets moving in a way I had hoped. I admit the markets are quite boring compared to German Bonds but still a lot of fun. But this spread is not really such a spread, so I won't pile into it with more size blindly because it's weighted towards the 10 year, but look for good times to enter the 10 year relative to the spread, i.e relative to my hedge and use a mixture of the two, so it's just trading the 10 year with a small hedge. The hedge allows me to keep from having to get out my position too often and gives me the chance to scalp the 10 year and also work the bid and offer on my hedge (the 3 year). Today I was often able to leg the 3 year both sides and scratch it whilst taking profit on the 10 year. I never intended to basically trade outright but the daily range on the 10 year is pretty small compared to what I am used too and using the hedge allows me to work bids and offers and reduce my exposure to sudden moves in the markets. It seems pretty solid, let's see though :) I pretty much read the 10 year correctly all day, and will have to see how much of that was luck, but I felt it was much more readable than the bund or bobl! it seemed far less spoofed and manipulated which shouldn't be a shock to be honest.
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