Friday 14 May 2010

Brückentag in Germany Today

It was a "bridge" day in Germany today - a working day between yesterday's holiday and the week-end. Lots of people made it a long week-end.

I started trading Euro futures this morning, London time, and there was an hour in the morning when someone at a large institution was either bored or found that running stops was a good way to make money on a Brückentag. Or maybe the arb between the futures and the cash had something else going on.

Looking at what the traders are doing, not trading just indicators is important. I had to move my stops out of the way and still traded my targets. Happily things went back to normal after an hour with a series of down moves and pullbacks.

I switched to the ES and enjoyed the ride down. My longer term positions are really paying off. I use the same methodology as I use for day trading and sell premium, usually for 10 day swings. If we can trade down to the support (1123.00 ish) today and flick through it even for just a blip. I'll have hit my targets in 2 days.

5 comments:

  1. You've added both a slower and faster EMA then the 99 and 33. Any reason why? Is this to compensate for the added volatility?

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  2. Hi,
    some guys like me were enjoying the Brueckentag in Germany. Even though the weather was suggesting to keep on trading. There will be another one in June (June 4th).

    Val

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  3. Within TICKS Tom. Did you take your swing position off? We screamed off of that last test of 1124's. Have a great weekend.

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  4. Anon 22:09, they are just temporary stuff . I wanted to see something after I had finished trading and left them on the chart when I took the pic.
    Val, thanks.
    Bigsnack. Only by luck I think. As soon as I saw that the 1123.00 would hold, I increased my bid by 0.75 and got filled when weak hands dumped as price approached that low. If I had had to rely on the market makers I wouldn't have filled because the option never went offered at my bid.

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  5. Hello Boss,

    Here is the movie Floored. You have to watch it on your computer, but you have 24" monitors so should not be to bad.

    http://tinyurl.com/2c8c6u2

    I'm sure Kiki will enjoy seeing were you spent some time honing your skills.

    Take care,

    Rino


    Ps Grab some popcorn and maybe a brew. (Kiki you get soda.)

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