//
you're reading...
Uncategorized

Assessment of Yesterday’s Trades and Prices #FTSE #Trading

Started fine until I got bearish in the afternoon selling 1 @ 29, 1 @ 23.5 and lowering the price to 6590-6640.

That was wrong, there was no good reason to do that, I’m short the market has been predominately going up and under such conditions I’m trying to keep the book fairly small and get turns to write the bear up. If it had kept falling I could have just bought on falls as usual and then sold into rallies. Dips have been shallow and I expect that to change and for them to get deeper but shouldn’t be trying to anticipate it, rather adjust to it when it happens

Then when it got to 50 I sold 6 units. What I was attempting to do is get my average bear price higher so only a small fall would get me back in profit. But again that was wrong, not the way to do it at all without any good reason. If it’s going down I don’t need to worry too much about getting my average bear price up and if it isn’t then it’s way too risky to increase the bear to achieve it. 

So now I’m short of 15 units, might get a lucky break Monday morning but if not will struggle to recover.

So a lesson in what not to do.

Advertisements

Discussion

No comments yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: