Week 3: Day 2

On the open I waited for 7's and went long, it carried on down so I bought 5.5's, I was then queued to buy 4's but didn't get them. When you are looking to do a third average you know things are going bad and I would have bought 4's as they seemed hard to get otherwise I would be looking to dump the whole position at 4, or if I got 4's dump the whole position at 3. It then retraced and I sold 6.5's and 7's giving myself a tick profit by about 7.30am. I then did pretty much the same in the other direction, my first sell was too aggressive and I sold some more and bought them back half a tick cheaper and then did it again and I ended up scratching my original short too. I got stuck in a trade over lunch and grabbed lunch at about 2pm. When I got back I was pretty content with my day so was just sitting and watching but then I couldn't resist selling the high of the day, at first I didn't take the sell because it looked too easy, but then it became hard to do so I did it on a leg and then legged the other side for half a tick, I was in and out within 4 minutes which was one of my fastest trades so far.

One of my best days so far, and pretty cool considering I was down a lot when I was trying to buy 4's.

Week 3: Day 1

Not quite as bad as last monday, down 200 euros and a lot of round turns so not too great. The big move was done within an hour and it just didn't move much for the rest of the day. I really messed up today and fat fingered and at one point was long on both the euribor and schatz... I really felt tired and almost dizzy when I closed my eyes. Luckily I was able to scratch almost all of my errors and just lost money because I picked bad entry points. Anyway, another day tomorrow :D

End of week 2

It is the end of the second week and in total I have traded 7 and a half days and so far it is going well. The last 25 trades went really well and I learnt plenty about execution and knowing when to take risk on getting in and out of trades. I have some confidence now that I will be able to trade profitably but it should become clearer by the end of the month.

So far I am really enjoying this style of trading and just trading generally and just hope things carry on well.

Week 2: Day 3 and 4

Didn't get time yesterday to blog, but it was my best day so far! I ran my profits 1 tick which really helped increase my profit for the day. Today was a more interesting day as always I was trading the TED spread, euribor - schatz spread. By early morning I was up 125 euros and then I went long on the low of the day for a second time, this point had held many times before although it was making lower highs so even though I wasn't as convinced for some reason I got in and someone flipped the euribor and I got filled on the schatz and had to take the next price in the euribor. So I didn't get the price I wanted and I then averaged in when the market was highly volatile, moving between levels rapidly and I averaged in at the same price unfortunately.... I was kinda annoyed and a better price came on so I took that as well. I then was told to unwind my position because it was quite big, so I scratched the last average and took a half tick loss on my second average in. It wasn't really going my way, nor was it really going against me but at one point I was down 300 euros for the trade, so I decided to take a loss. I had infact legged out when I took a half tick loss,otherwise it would have been a whole tick and then I had realised the schatz was going up and down around the same place, so I bought it back at the low of this movement but soon as I did it broke through it and as I was leaning on the bid on the euribor and I hit it just before it vanished. So I took a 1.5 tick loss for my original trade, so 2 ticks overall, which wasn't bad especially considering it broke down further and  I got a pretty good price for what was available. It did pop up briefly 1 hour later about 1 tick above where I went long but it didn't last and it soon tried to break through the low of the day.

I saw loads of selling in the euribor (a 5000 lot was sold) and I decided it was pretty weak and sold the low of the day and the schatz moved up 3 ticks and the euribor didn't move. Therefore I had so far sold the euribor and bought the schatz, so I could sell the schatz 3 ticks higher for 75 euros in profit but I would then have to go at market on the euribor otherwise I would be unhedged, going at market and closing the position would give 50 euro loss on the euribor and so 25 euros profit for the trade. Therefore as the offer on the euribor was 5000 (pretty big) I decided to sell the schatz before it retraced back down and I queued on the bid in the euribor, if I got filled I would make 75 euros otherwise if the offer started to go I would get ready to lift it and take just 25 euros. The schatz came back down and the euribor held steady so I decided to rebuy the schatz and it once again went back up and I sold it again and the euribor started to go bid and I lifted the offer and locked in a nice profit bringing me back up to where I was in the morning. This was the first time I had done something quite like that and it makes trading a lot more fun.

Week 2: Day 2

Spent just over 11 hours at the office, I made steady money but not much. I was already in a trade and was considering buying more but I accidently clicked buy instead of "trade ticket" and I was trying to re-hedge myself at the price I wanted and lean on a number in the euribor, which ever became available first and also trying to scratch the miss-bought lots. It was a lot to think about and I ended up legged and was long on the euribor and there were about 50 on the offer, 6 were mine (2 were filled) but no one was taking them. The guy sitting next to me bought them off me, haha.. but he said he needed them. The range was much much tighter today and I picked the top and bottom almost perfectly, just I only took 1/2 tick each time and I should really have given it room and took at least a tick. Therefore I need to work at letting my profits run for a little longer. Since being down 675 on Monday morning I have recouped over a 1/3 of my losses, which isn't too bad.