Trading Journal – 8th January 2019

DXH19 – market traded down to 95.20 overnight and I left a day entry order to buy around 95.10 with a stop at 94.90. This was not filled and expired. The price has now moved away from the 100 DMA.

E6H19 – The Euro is still holding above 1.14. Looks like my options will expire worthless at this stage. I’ve left a limit order to sell if there is a spike to cover my cost. If the market breaks through 1.16 then it could quickly go higher, it has been consolidating sideways for quite some time.

B6H19 – The market did continue higher so I would have been stopped out anyway.

GCG19 – Obviously I’m biased (being long) but at this stage just another pull back in the uptrend it looks like.

SIF19 – Another very positive day for silver. Could this be a break out?

PLF19 – Huge up day for platinum. Trend is down so wait for opportunity to get short.

HGH19 – put in a limit to buy two copper put options each at 0.0115 and 0.100 (multiplier USD 25k) with a 2.50 and 2.49 strike respectively and 20 days to expiry.

SBH19 – Sugar had a huge day ripping up the short positions, very surprising for me at this stage in the downtrend. In that context I would say the 61.8% retracement of the October move has held. Either way not something I want to get involved in.

CCH19 – cocoa is fighting hard to stay above the 200 DMA.

KCH19 – still finding support at the old low.

OJH19 – OJ finding some support now. I might get a positive outcome yet.

CTH19 – Good bounce from cotton, some newsletters mentioning to go long on a higher low (which I should point out is looking back on a very long term basis – only clear when you look at a 5yr chart).

LSH19 – I have been waiting on 300 for the price of lumber to reach but it’s possible though we may have just seen a higher low. I’ll only know once we reach the previous short term High around 375. The price is finding support around 325 at the moment so I’m not sure if the deep down to 300 was just temporary but certainly the moving averages are starting to flatten out.

ZWH19 – still sideways.

ZCH19 – no real pattern aside from a broad range trading between 400 and 360. So that would say buy at 360 and sell at 400.

ZSH19 – I took profit on this one at 924. The price seems at a cross roads and it is not clear who is going to prevail. Wait until there’s a clear winner and then get back on board.

ZMH19 – indecisive. The price has reached the previous high from the 3rd of December but is still a short distance away from the 200 day moving average. I’m inclined to believe that the will continue higher to the 200 day moving average but have no strong conviction about it going through.

ZOH19 – nothing at the moment for me. Price is being being supported at the 100 DMA which is possibly a good sign – this is the first time since September the price has broken through the 100 DMA which was back at 254. Probably worth buying some 300 strike call options with a couple of months to expiry.

RSH19 – the price bounced off 470 again

CLG19 – Volatility was still priced ridiculously high (51% when I checked a day or so ago), so doesn’t make a lot of sense to buy options with vol so high. Just waiting for the intersection with the 40 Day moving average.

NGG19 – I went long at 2.9830 and then had a change of mind about being so far away from the most recent low and got out at 2.9610. The possibility of waiting through a move down to 2.8730 was too far so I paid the $200 and got out. I now have a limit order to enter just above that low.

LEG19 – false break for now. waiting to see what happens next.

DYH19 – still not getting to the 40 day moving average.

ESH19 – I’ve still got an order in to sell at 2595 with a stop just above 2600 , so if the price rallies higher tonight then it might get filled.

NQH19 – My entry was filled at 6500 and stopped out at 6513. Things I could have done differently? Put my entry order just above the level e.g. entry order at 6513 with a stop at 6530. Ideally what I should probably figure out is what is a percentage that I can multiply by the volatility to allow for the price to trade through the level. I was probably too eager to get filled on this one and should allow for the fact that the more volatile the market then the more likely it is the price will run through the stop rather than just touch it.

– after writing each entry, check whether I need to add an action to my list
– review my daily journal for action items I have missed before sending it.

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