Trade of the Month

[DanC]

Hi all,

 

Happy New Year!

 

We’ve been listening to your feedback and I’m happy to announce that we’re starting a new competition for the ‘Trade of the Month’. This will be an opportunity for members to post trades you may have placed, or those you would suggest, and other members will then be able to discuss and judge these trades.

 

The trade that receives the most ‘Likes’ over the calendar month will then be the winner, and will receive the highly sought after ‘Trade of the Month’ badge:

 

 

Please do get involved below, share your ideas and thoughts on others’ suggestions, and ‘Like’ those trades you deem worthy!

 

Good luck!

Dan

[FiringSquad13]

Well I'll start things off. Not sure exactly how this would work but I'll publish a trade idea.

 

Long Dow at 17000.

 

Markets have been shocked by the drop in China bit I think the Dow will move back to about 17500.

[Zero]

 - A bit of a contrarian start, interesting.  To be clear - are you suggesting a trade, or are you long the Dow at 17000 via options (for a monthly option - buy a call at 17000 or sell a put at 17000 at last night's prices) or will you go long at 17000 when the Dow (cash) gets there?

 

I think too, as it is a monthly comp. - you can be flexible with your exit.  If you want to be firm on the 17500 then good, but if you are happy to be long from 17000 till the months end then still ok in my opinion (obviously if in profit).

 

I personally will post real money trades but can't be so precise in advance, as it will normally be after I have placed it.  I can post screen shots of an order ticket too I guess. 

 

The year has begun with a bang!  Going to be a cracker of a trading year.  ?

[jbtrader]

I am going long the GBPJPY.

 

Price is currently 175.40 

 

It looks very oversold to me and I will give it 2% to the downside where I will put my stop loss.

 

Looking forward to some trading ideas being posted by the Community.

 

Thanks IG gang for doing everything you can to make this a place we can all learn from and further enjoy our trading experience.

 

Cheers,

 

JB.

[DanC]

Thanks for the trade suggestions ,  & . It may be that the rules need tweaking over time to make this a fairer competition, but it's good to see some ideas being posted.

 

I can see that no-one has Liked anyone else's posts, tactical maybe :smileywink:

 

Good luck all!

[Zero]

 

  Tactics, hmm. 

 

I realise that most of my trades will be post-execution, which got me wondering about the comp.  Is it the best suggested trade, or the best actual trade.  I don't mind either way personally.  Just be nice to see some other trades from the comm.

 

I am short the SPI this morning from the night close, a bit dangerous, but will look for 10pts or more. 

[jbtrader]

Going short the EURUSD at 1.0777

 

I will add to the trade if it gets to 1.0820

 

My stop is 1.0940

 

I expect the EUR will break the support around 1.05 sooner than later.

 

Cheers,

 

JB.

[Zero]

Closed out my short for zero.  Only had 4pts in it so far - will wait and see before re-entering.  Just avoiding uncessary volatility. 

[FiringSquad13]

 I think both of our trades are getting hammered.  Did your stop get hit (or was it a suggested trade).

 

 

[jbtrader]

Stop got hit on EURCAD and I am still in the EURUSD but only just.

 

Cheers,

 

JB.

[Zero]

Ha !  I think there will be some really annoyed stopped out traders filling the bars worldwide this weekend.

 

Interesting thing happened to me last night.  Get a call from a London broker (won't mention who, they seem to be new, aggressively seeking clients) - who seem to have a strong binary-FX platform.  Odd that it happened after the dodgy week I had - but anyway, to the point...  I checked out their webpage after talking with the bloke and it was better than I thought, but also a bit glitsy (all show no substance maybe) BUT they had this curious feature (and this is my point) where they had scrolling in a window on the right hand side of the platform a list of trades being placed by their clients!  Either mentioning their profits, their losses, or just their orders they put on. 

Wonder how that would sit here - and if "compliance" would have the last word. 

But it is like what this thread is all about - but 100% real money trades 

 

A curious, interesting, perhaps coincidental way for me to end the week.

[Zero]

By the way - the bloke was curious on my current broker and what they offered in terms of binaries (he's been trading them 15years supposedly - FX though) - and I sort of embarassed him with what IG offers compared to them.  Non compare! 

[DanC]

Sounds like an interesting idea . I know we provide the sentiment figures, but to have actual client trades showing is an intriguing concept. Is this just for the markets you're currently trading or have in a 'Watchlist'. I'm assuming it doesn't let you know any details about who is actually trading?

 

Dan

[jbtrader]

I have been expecting a bounce in the S&P500 and as yet it hasn't really materialized.

 

I am waiting for 1975-1190 at which point I will go short.

 

After all this is a Bear Market.

 

Cheers,

 

JB.

[Zero]

 Hi Dan,

 

Well - I am guessing a little here as I could only see what was on their public webpage.  It had a ticker scrolling down - with names of the trader (which could be something like we use here eg. Zero) and then whatever they're trading.  So I don't think it matters about a watchlist - yet that may be a tweak you could add.  It could be personalised - for the user and the participant.  You could opt. in - and then chose a nick. or use the community nickname so you are recognisable. You could chose to allow single lots (to hide the overall profit value) or a % value etc.  And if you want to look you could chose which markets (good thinking by you - I didn't think of if IG offered it - you'd have a nonstop ticker of FX and other stuff, drive you/me bonkers). 

I think they are a bit more focussed and so it is easier to have all of their markets (a handful of FX majors and some indicies, gold, oil and a few major stocks). 

Anyway - enough about them.  It would have to be worthwhile for IG as I can imagine it could be a lot of computing power for little in return? 

 

 

[Zero]

 Hi Dan,

 

Well - I am guessing a little here as I could only see what was on their public webpage.  It had a ticker scrolling down - with names of the trader (which could be something like we use here eg. Zero) and then whatever they're trading.  So I don't think it matters about a watchlist - yet that may be a tweak you could add.  It could be personalised - for the user and the participant.  You could opt. in - and then chose a nick. or use the community nickname so you are recognisable. You could chose to allow single lots (to hide the overall profit value) or a % value etc.  And if you want to look you could chose which markets (good thinking by you - I didn't think of if IG offered it - you'd have a nonstop ticker of FX and other stuff, drive you/me crazy). 

I think they are a bit more focussed and so it is easier to have all of their markets (a handful of FX majors and some indicies, gold, oil and a few major stocks). 

Anyway - enough about them.  It would have to be worthwhile for IG as I can imagine it could be a lot of computing power for little in return? 

 

 

Hmm - now I am being told to correct the highlighted errors and try again - so sorry if this doubles.  I am the glitch-finder these days

 

 

[Zero]

Trade of the day for me anyway - sorry I couldn't post in time - it was "live at 3:57pm - with the binary market closing at 3:59pm and then expiring at 4:10pm. 

 

The market had been strengthening for the second half to the PM session, good buying, China, Japan, Dow and $AUD all strongly supporting the strength.  The XJO (which is what the binary's expiry is conditioned on) was near it's daily high (4992.40) at 4992 and the SPI at day's high 4947. 

IG were pricing their One-Touch 4995 binaries at 75-85 and then 82-100 !!  So almost max and max price.  I thought - sell.  Sold two seperate trades of those at 75 and 82 (I am restricted in how large my trades can be).  THEN I noticed too that all the Ladder binaries were overpriced.  Out of the money ladder binaries priced as if they were in the money - so I thought to sell a small lot there too just to be curious.  Sold 4993 Ladder for 58 (XJO about 4991, so out of the money, should have been near to 40). 

Then the market dropped 10pts!!  In those 10 mins it is the wild west - and the binary market is closed, so no partial profits or anything.  Can hedge with CFD's if you are quick enough.  I went naked. 

XJO on settlement 4987.40 !

 

After a slow start to the year, those trades were a nice welcome back.  I could have posted early this morning some info which may have helped anyone wanting to trade the ASX - but even with that this one would have been a sniper trade (watch, wait).  

 

[FoxTrader]

hi  - I will take a shot at FTSE100 long - stop at 5882.....

 

Happy days

[Zero]

By the time I've logged on and typed this the market has moved about 7pts - I am going out, but for anyone interested, I would risk calling the bottom of the ASX till 1pm.  If you can get a good price on a 4860 one-touch - was 65 when I left it to type this. 

Check back in at 1pm.  I can't trade - someone else might like it.

[Zero]

To complete the deal - price (XJO) at 1pm 4906.80.

 

The price pulled back right when I was typing - so the best price was 70 (selling the 4860 1pm 1-Touch binary at 70pts, the spread about 70-80, risking 30 to make 70 per contract) - which is good.  The XJO was at about 4870 and there was 2hours 45mins to go but one the other hand - it was a yes no touch or no touch (I said no touch).  And it took off and didn't look back.  Could have closed it out between 8-10 pts pre-expiry to avoid the 12:15pm China fix volatility, or held into close.  Nice trade - I should have traded it but anyway - was an expensive coffee

 

Hopefully someone else did.  One of the rare times where I have the time to post a trade so that someone else can actually trade it. 

[DanC]

Hey ,

 

I do think it's a great idea and could potentially add value, although the technicalities of implementing something like this across our various offerings may be a bit difficult. I'll raise it with our development team, but as I understand the current roadmap is pretty full.

 

Cheers,

Dan

[Zero]

Thanks Dan 

 

There are probablay more important things on the go. 

 

I was thinking too - trade of the month can be trades you didn't make that saved you a loss?  Impossible to prove - could all be made up.  But in these conditions, and in real-life trading - that is as important as making $ (technically with a binary it is a bit more debatable, but that is getting a bit philosophical - if you leave a binary, you could have taken the inverse position and made $).

For example, I am glad I left a sell on the open of the SPI yesterday and today (both in normal conditions high prob. success) - would have set me back years! 

 

Today I liked my only trade of the week (well serious trade) - trading a flat close in the face of selling all afternoon and then strong selling by the Nikkei/Dow into the close and into the 4:10pm option expiry.  The SPI was strongly correlated to the Nikkei the past few days (probably a AUDJPY connection in there somewhere) yet for these 10mins it held off and even bucked that correlation. 

Only tradeable by binaries - another thumbsup for them and IG. 

 

I only put them on at 15:58 with 1min to go so could give no warning here.  Spur of the moment decision. 

 

[DanC]

Hey ,

 

Thanks for the thumbs up!

 

That's an interesting idea, but as you mention difficult to prove and I wonder whether members are as likley to post these, as they would actual trades. You could even start a new thread 'The hindsight trade’, ‘Nearly went short when should've bought or 'Didn't go long and wrong’!

 

Glad to hear that you could've started one of the first posts in those threads!

 

Dan

[Zero]

 

 

Hi Dan,

 

  I'd start that thread just to have some rhyming trades.

 

I guess as an intuitive trader it is more appealing - it is a serious, intentional decision to not follow some proven "rules" (with a decent size position) because you get a sniff that somethings up, but not enough certainty to commit to a real trade (opposite to the "rules"-trade).  Purely intuitive. 

 

Anyway - I won't distract from some legit trades happening first.

[jbtrader]

With January behind us I really hope I can start picking some good trades.

 

The only good thing about Jan is that it is over :-)

 

I am starting off Feb by selling the EURUSD at 1.0840 with a stop at 1.0990

 

Cheers,

 

JB.

[DanC]

Thanks for the trade idea , I'm sure a lot of people will be happy that January is moving further from memory! Also, thanks to all that have posted in this thread, it's been good to see the traction on here and I hope to see people continuing to get involved.

Congratulations to , who is our inaugral winner. One of his posts was the only one to get a like (although this wasn't a trade submisison - I'll put this down to tactics for now!! :smileyhappy:) and also for the breath of his suggestions.

 

Good luck to all for February!

 

Dan

 

 

[Zero]

Hi Dan 

 

Thanks!  I'll put the badge on now while watching the (crazy) market open. 

Thanks to whoever liked my suggestion.  I should check later.  Hopefully my suggested trade was more useful. 

 

Feb. has started with a bang - last night was off the charts.  Just a lot of stop running - cheap liquidity.  Good trading "lads" (Stef, if you're a lady, you're obviously included in this too ).

[jbtrader]

Well insanity has prevailed and that is I guess why I use stops.

 

I still can't find a reason for such a sharp move against the USD.

 

HFTs must be trading currencies as well.

 

I need to stay on hold until sanity returns.

 

Oh what the *****, Going Short the S&P500 at 1910

 

Cheers,

 

JB.

[Zero]

JB

 

I like those trades - hopefully it pays off. 

 

I was going to post somewhere, here will do - that this weekend there is some market moving data coming out.  Could be a strong move, either way (depends on the data of course) - will hit the ASX (New Zealand doesn't count.... ) first and with China closed (I think for their new year celebrations), it may get choppy.  I personally won't/wouldn't be holding positions over the weekend.  Well if you want to have a punt on the direction sure, but...

 

So with non-farms tonight, and the weekend - that short S&P (JB) deserves a like: not implying it is risky because it is incorrect - it is just seriously game, and could be a cracker. 

 

[jbtrader]

Moving the Stop to breakeven on this one.

 

Will look at the momentum later to see where I might look to take profits.

 

Cheers,

 

JB.