TraderGav.com

Gav's trading blog - Perseverance, Consistency, Confidence

Gav

Month in review February 2007

by Leave a Comment

Another positive month for me. So far, I am fine with my own performance, at least I am on the track to stabilise my trading result. This month due to chinese new year vacation I have missed out 1 trading week. I did not achieve the target that I have set last month.

In total, 11 trades were made with 5 winners, 4 losers, and 2 break even.

travel-money.jpgSummary (After commission):

  • Total P/L: +4.47 R
  • Trades taken: 11
  • Winners: 5 (45.45%)
  • Losers: 4 (36.36%)
  • Break even: 2 (18.18%)
  • Expectancy (Total R/trades taken): +0.406
  • Biggest winner: +2.81 R
  • Biggest loser : -1.18 R
  • Target for March will remain as 5.31 R

[photopress:AccumulativeRFeb2007.PNG,full,alignleft]

Dummy day trading #59 28-Feb-2007: NQ Short trade closed

by Leave a Comment

I decided to make an attempt when NQ goes below opening low again. Short position was established around 951am during the first pull back of new downtrend cycle.Too bad, I was stopped out.

One trade closed with -1 R loss

[photopress:NQ200ticks28Feb2007.jpg,full,alignleft]

I will stop trading for the day and get some rest. I am preparing monthly review now.

Quote from Michael Marcus

by Leave a Comment

Michael Marcus discussed causes of financial disablement in Market Wizards: Interviews with Top Traders.

I think the leading cause of financial disablement is the belief that you can rely on the experts to help you. It might, if you know the right expert….Typically, however, these so-called “experts” are not traders. Your average broker couldn’t be a trader in a million years. More money is lost listening to brokers than any other way. Trading requires an intense personal involvement. You have to do your own homework, and that is what I advise people to do.

Trend Table 28-Feb-2007

by Leave a Comment

No comment. If you have followed the market recently, you should know. We are likely to see a rebound day, in fact, futures markets are in positive now. I am not sure if I am going to trade today. At least, I wanna see the dust to settle first.

[photopress:TrendTable28Feb2007.PNG,full,alignleft]

Interesting events today

by Leave a Comment

To some people in Asia today seems to be a disaster. In this heavy selling day, I found a couple of interesting events.

Here is the first one, I was watching a couple of stocks, and being kicked out by my trading platform. And now I found this annoucement.

Slowness in SGX Live Prices
28 Feb 2007
According to SGX, the live prices provided are currently slow. For trading matters and executions, please contact your Trading Representative.

Second,

It caught my attention when a local broker in Singapore raises Initial Margin of Asian Futures contract today. My one time favourite MSCI Singapore Index, initial margin has been increased more than 40% today to $4,750 per contract for whatever reason.

You need money to make money, in this kinda of market, you need more money to make money.

Red packet day

by Leave a Comment

When I wake up in the morning in Singapore, I see Straits Time Index dropped -157.74, the biggest one day loss I have ever seen since I started trading (It shows I am still young huh). and I see overnight NQ lost -87, YM lost -482.

World stock markets plunged on Tuesday as fears about an economic slowdown in the United States and the end of the Chinese economic bubble sparked a global wave of selling.
Asia was dragged down by a plummeting Shanghai stock market, Wall Street slumped, and the main European indices showed falls of between 2.0-3.0 percent on average at the close.

World stocks tumble after China meltdown

The sell down of NQ started around lunch hours, and I had already left my desk. The feeling sucks. I was unable to profit from this kinda day. Ok, I was thinking market had gone down “enough”, what a fool.

Stay safe.