Dec13 – Market Analysis

Position Management

The S1B GBPJPY position is doing well, already getting to +100 pips, however it has pulled back a lot since then – ironically this is what happened to the GBPJPY  trade (T#154). Let’s see what happens this time.  In any case, I have moved the stop to just above the entry.

The S1S AUDUSD has not moved a lot overnight.  I am not adjusting the stop level at this point.

JBT trading

  • I am finding it hard to follow JB.  At the start of the day, there’s a running of loss of -15R for the month, which is truly incredible.  I decided a week ago that I would simply copy JB’s trades, however I am simply not comfortable doing that.  Very commonly the trades take a lot of heat, and JB lets them run a large distance again him.  The stop loss management is often only done once the trade has gone significantly against us.  I cannot trade like that, it doesn’t feel right. This is different to what I have been taught as to how to trade.
  • This morning we entered two long Yen positions.  After they went 20-25 pips against us, I decided to firstly come out with ½ the position, and soon after, with the remaining half – whereas JB stayed in the positions.  I am just not comfortable with being 2R down within half an hour of starting the session.  As this is happening often, could this be a sign that we are entering positions too quickly?
  • I will make a comment later, as to how the positions “would have” turned out if I had not exited “prematurely”.

STAM Analysis

  • EUR drops 1 against GBP.  NZD drops one against USD.  Thus the strong/weak/neutral camps are still the same.
  • There are no STAM setups that I am considering at this point in time.
  • S3 Analysis – There are no S3 setups at the moment – keeping an eye on EURUSD
  • Equity STAM Analysis  – No setups.  Weekly momentum looks to turn bearish for the US indices too now.
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2 Responses to Dec13 – Market Analysis

  1. Regarding the short Yen JBT trades – JB let the positions run much further against him, and closed out for bigger losses than me on those trades.

    Like

  2. Pingback: Stock Market Analysis – as of Dec 19th 2013 | Inside the Right Mind

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