The Week

I tried hard to adapt, waiting and waiting on soybeans before entering, because of the new bigger ranges. Continuing to be bid and offered on the bond spread more than 3 ticks apart! As well as aggressive to get size off when it retraces off a large move, sometimes I was taking off 2/3 of my position when it had retraced 5% or so. There are plenty of times when the spread ranges and you can make money, so it's important when the spread trends to just improve your average price and keep your size small as possible. Those times are not about squeezing some profit but by being in a good position if it return to the high and able to keep in it. I have to remind myself this as it's important in spreading imo. This week was v good for me and I think it's also down to some great outright trading or just the great results I had in outright trading or both who knows!

Tough day but a good result

What a day! It's been such a success on a really tough day. Firstly in the bond spread (AUS vs US) it had already pushed up a lot yesterday and opened up today almost on the high. It then went about 2.5 ticks, so it had the potential to stop me out. I managed something around break even. Then soybeans made the biggest move I have ever seen, a smaller move last week cost me $1000, but this time it moved further and I made a small loss after costs and a profit before, which is incredible. I waited a big move before even entering and scalped it tightly as there was just no room to take any decent profit. Then at 11pm my time, the bond spread (US vs GER) blew out. I had a feeling it would but it's just a hunch so I try to ignore them as I end up missing opportunities. I got in and was taking about $100 profit and leaning on the US bond when it tanked, I quickly sold the other leg on the bund to remain in the spread with the intention to try and exit at the same price later.. As it fell I found 5 spots to make outright trades, all were profitable and made a total of $315. Everything I thought happened. It was surreal, firstly my hunch earlier was right and then I picked spots just perfectly to scalp on the US bond. I sold the bund and queued two prices below market to buy the US bond and when it rallied 1.5 ticks I  held the bund which was staying and then got filled, although I moved my queue 0.5 ticks higher to the next price, it did in fact fill the price below. I dunno just how much is down to good luck, but when I feel some information click together I go with my thoughts and seems to be doing well each day.

I feel asleep for about 3 seconds several times in the last hour, tried everything to keep myself awake.. it was almost 4 hours of intense starring and clicking after already doing 16 hours of less strenuous trading. I got out 2/3 of my position on the spread when it went up 8 ticks from a 40 tick downward move. I just bought almost the very low with half an hour left, with the intention of taking a loss on it if I need to and holding one clip. German bonds will open 8 hours after the US markets open but the spread doesn't really move during the time much. Seeing as I got my position average to the low with 1 clip and this spreads the lowest ever on my chart, probably worth holding.

Around break even after costs for the day.

Aweeesome

+$1239 AUD net profit for the day.

My trades (gross profit):

90
87
15
50
62
58
29
108
90
90
82
130
90
83
58
83
77
87
119
-27

Several hundred were outright trades, which I am really happy about as my outright trading has been going well for a while now. I keep putting in good days like this and blowing out the next day, I just want to see if I can continue to do good days like this then I should be really pushing forward. Just it's been so intense and volatile which is probably why I can have days like this. But I am still new to my set up of these 3 spreads, so let's see how it goes. From my trades it looks very stress free but far from it.. both spreads were very directional, outrights went up all day... I picked my spots and was legging in and out everything aggressively, but most the day was sat waiting for my levels.

Blew out 3 times in 1 day

First in Soybeans, then again in Soybeans, then in the bond market. Losses of $500, $400 and $800 respectively. Additionally $300 of costs, gave a total damage of $2000 from blow outs. During the day I had made $600 in between the blow outs, to make the day -$1400 net loss.

On the week I am just down $500, but with a $1000 of costs... which I think means considering how many blow outs there were, to be down just $500 I think means I did a good job otherwise at getting in and out the spread. I feel now if there aren't any blow outs for a couple of weeks I can easily be netting over $500 most days, as I feel there is a lot more room to scalp now that I have two bond spreads which overlap on the US T Note, I think this gives good opportunities.

A really crazy last two days

I discharged myself from Hospital on Monday and got straight back to trading and put in a good start to the week. Then on Wednesday: http://online.wsj.com/article/BT-CO-20120229-712756.html?

I was long the 10 year T note with more size than usual and a huge order went through it just instantly plummeted to fill the order and then just got decimated in seconds. I was hitting sell frantically and suffered a $1800 loss. Having lost over 40% of my net profit for the month in less than a minute I destroyed my wardrobe in anger and then accidentally locked myself out my room. I then slept on the sofa and started trading late in the day the next day after a relaxing day.

I then made a great come back and booked a $1033 USD profit.

Here is the month, which doesn't include yesterdays gain, as the traders were executed in March. At least it's a good start to the new month, I have already forgotten last month it's too painful as the loss was in the last 2 hours of the month, but here's the graph in USD (gross and net)