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NoviceTrader1

Trading Log 2010

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Greetings everyone, This is my first post in this forum, and it will be a log of my daily trades. I believe that publishing a log of my trades can only help my trading and make me more accountable for my progress as a trader.

 

I am 21 years old and currently in my last year of university. I have been trading futures(live and paper) for the last 8-10 months. I have tried many different strategies and systems, and have gotten very little in the way of profit. I have recently started trading grain futures with a purely discretionary approach. I trade off of S&R and any patterns that I see in these markets. This approach is working very well since I started and I believe that I am on the path to being a good trader.

 

To give an idea of my trading approach I have a screen shot of a trade that I would make. After entering, as soon as I have some cushion on a trade I will move my stop to break even and continue to move it and attempt milk the trade if it acts well. My positions last anywhere from hours to minutes, depending on how the market reacts.

 

Starting tomorrow I will add screen shots of my executed trades(winning and losing).

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Here are some other trades, made in Soybeans a couple of days back. I exited these trades, after they look to be consolidating, or they violate my stops. I enter my stops by observing volume by price, and determining support and resistance by volume at individual prices.

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P/L: +251.80

Account balance: 3,862

 

Today was a decent day as far as trading opportunities in Grains. Wheat had little volatility, while Soybeans had a good trend day. Most of my trades were profitable, with some break-even to small loss trades. I am finding that I am prematurely moving my stops, and this is turning profitable trades into break-evens or small losses. This is something that I will be aware of and try to remedy.

 

Here is an example of a small fade trade where I moved my stop to break even, and ended up getting out at break-even instead of allowing room for the trade to work.

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Edited by NoviceTrader1

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...I am 21 years old and currently in my last year of university. I have been trading futures(live and paper) for the last 8-10 months. I have tried many different strategies and systems, and have gotten very little in the way of profit. I have recently started trading grain futures with a purely discretionary approach. I trade off of S&R and any patterns that I see in these markets. This approach is working very well since I started and I believe that I am on the path to being a good trader....

 

I believe you are as well ... Good Luck, and keep the log going.

 

Best Wishes,

 

Thales

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Hey Novicetrader1, I'm going to be 21 on Sunday, just wanna say that it's great to see someone of my age who is doing the same thing as me! this is the most effective way to trade in an environment which is becoming more dominated by algorithmic trading...my equities trading has suffered as a result of it...pray they don't hit the futures too badly! Are you at university?

 

Good luck, and keep up the solid work. Discipline is the key!

 

Emile

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Hey Novicetrader1, I'm going to be 21 on Sunday, just wanna say that it's great to see someone of my age who is doing the same thing as me! this is the most effective way to trade in an environment which is becoming more dominated by algorithmic trading...my equities trading has suffered as a result of it...pray they don't hit the futures too badly! Are you at university?

 

Good luck, and keep up the solid work. Discipline is the key!

 

Emile

 

It's also good to see someone my age pursuing a similar goal as mine! I am in university and will be graduating at the end of the year. My intermediate-term is goal is to build up a solid P/L and get in at a prop firm over the summer. After I graduate, the sky's the limit. What are your goals as a trader, would you like to pursue a career in the field?

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P/L: -147

Account balance: 3715

 

Today was a limited opportunity day, at least for somebody with my trading style. I did make two trades, I was stopped out of both of them. The first trade was made after a break of a coiled range, the second trade was made after the failed break with the reversal. Both breakouts were false, and eventually reversed. As far as I can see, both trades were relatively good, and I would make them again in a similar situation...if anyone has any comments it would be appreciated.

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P/L: -147

Account balance: 3715

 

Today was a limited opportunity day, at least for somebody with my trading style. I did make two trades, I was stopped out of both of them. The first trade was made after a break of a coiled range, the second trade was made after the failed break with the reversal. Both breakouts were false, and eventually reversed. As far as I can see, both trades were relatively good, and I would make them again in a similar situation...if anyone has any comments it would be appreciated.

 

Hey there! Oh well, you lose some days, you win some...Personally, I am more comfortable with a breakout above a horizontal line of support/ resistance, as I find that entering after the break of a trendline wedge can result in getting headfaked, this is what happened with the first trade...therefore, if I had entered, it would have been above the level of 964. However, I wouldn't have entered the trade, as none of the candles managed to close above this level, indicating that there were either latent sell orders resting at the level, or that simply buyers had lost interest, as they perceived price was too high. When there are traders in the pits playing call spreads, as is the case when there is a ranging market, their entry points have to be precise, as they operate on such small margins. Also, note the VOLUME. This is key for me, I would only enter a breakout on high volume, knowing that I can effectively 'surf' the momentum wave up, and sell into that buying when I have made some profit. Not only did price not break and 'hold' 964, the thrust up was on very low volume, which suggested that the move lacked conviction.

 

Ok, second entry...I would have probably entered at 962, considering that this represented a break from the range. The volume supported the move, which is good enough for me. Whether this was a scratch trade or a loser is dependent on profit targets to be honest. I would have moved my stop above the 'wicky' green candle which followed the two bearish bars, so I would have stopped out for a small winner, barely better than BE. However, there was a run up to the top resistance level, which price was not able to close above. NOTE THE HUGE VOLUME WITH A FAILURE TO BREAK AND HOLD HIGHS- POTENTIAL SELLING CLIMAX. This is what happened. I would have entered on a break of 962 to the downside, so long as the volume supported this. As it happens, in this case, it did. Price is currently 959.50. It will be interesting to see what the reaction is in the next market session, we could see a test of the lows of 955 and a rebound.

 

Hope I have been of some help. After all, I'm a youngster like yourself and learning new things every day! I'd be interested to see what more experienced traders would make of the chart...

Edited by emios

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I've been daytrading us equities for the past year or so, with varying success. However, the intraday stock market is manipulated by complex algorithms which detect volume surges, which has made determining a 'true' breakout more and more difficult. I have since adapted a swing mindset, stocks generally tend to respect s/r on the daily chart more than the 5 min. I find that looking at finviz.com for my levels is very useful indeed, then I can assess whether that stock or etf has a good chance of rebounding off those levels.

 

Future plans...Well, I'm currently at Oxford studying Modern Languages ( not a financial course, I know!), and I'm hoping to get a job trading equities or commodities at Credit Suisse when I graduate, which will be two years from now. However, I know that, given my background and the rise of the 'quant' traders, that this may be nigh on impossible to achieve. Therefore, I'm trying to widen my skills, in order to follow a more standard Investment Banking path...hoping to complete a CFA designation in a few years, and might take a law conversion, focusing on corporate acquisitions and mergers.

 

That's the plan, anyway. It's not an easy world anymore, and given the stringent reforms that may be headed Wall Street's way, it's about to get a whole lot harder.

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Hey there! Oh well, you lose some days, you win some...Personally, I am more comfortable with a breakout above a horizontal line of support/ resistance, as I find that entering after the break of a trendline wedge can result in getting headfaked, this is what happened with the first trade...therefore, if I had entered, it would have been above the level of 964. However, I wouldn't have entered the trade, as none of the candles managed to close above this level, indicating that there were either latent sell orders resting at the level, or that simply buyers had lost interest, as they perceived price was too high. When there are traders in the pits playing call spreads, as is the case when there is a ranging market, their entry points have to be precise, as they operate on such small margins. Also, note the VOLUME. This is key for me, I would only enter a breakout on high volume, knowing that I can effectively 'surf' the momentum wave up, and sell into that buying when I have made some profit. Not only did price not break and 'hold' 964, the thrust up was on very low volume, which suggested that the move lacked conviction.

 

Ok, second entry...I would have probably entered at 962, considering that this represented a break from the range. The volume supported the move, which is good enough for me. Whether this was a scratch trade or a loser is dependent on profit targets to be honest. I would have moved my stop above the 'wicky' green candle which followed the two bearish bars, so I would have stopped out for a small winner, barely better than BE. However, there was a run up to the top resistance level, which price was not able to close above. NOTE THE HUGE VOLUME WITH A FAILURE TO BREAK AND HOLD HIGHS- POTENTIAL SELLING CLIMAX. This is what happened. I would have entered on a break of 962 to the downside, so long as the volume supported this. As it happens, in this case, it did. Price is currently 959.50. It will be interesting to see what the reaction is in the next market session, we could see a test of the lows of 955 and a rebound.

 

Hope I have been of some help. After all, I'm a youngster like yourself and learning new things every day! I'd be interested to see what more experienced traders would make of the chart...

 

Thanks for the insight. One thing that I would note, is that every market tends to be unique. From my experience grains tend to break on low volume, high volume, and everything in between. I have seen many breaks happen on low volume and on normal order flow...I think this will be evident as i continue to update this log. On both trades I entered by judging support and resistance levels through the DOM(depth of market) and volume by price.

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I've been daytrading us equities for the past year or so, with varying success. However, the intraday stock market is manipulated by complex algorithms which detect volume surges, which has made determining a 'true' breakout more and more difficult. I have since adapted a swing mindset, stocks generally tend to respect s/r on the daily chart more than the 5 min. I find that looking at finviz.com for my levels is very useful indeed, then I can assess whether that stock or etf has a good chance of rebounding off those levels.

 

Future plans...Well, I'm currently at Oxford studying Modern Languages ( not a financial course, I know!), and I'm hoping to get a job trading equities or commodities at Credit Suisse when I graduate, which will be two years from now. However, I know that, given my background and the rise of the 'quant' traders, that this may be nigh on impossible to achieve. Therefore, I'm trying to widen my skills, in order to follow a more standard Investment Banking path...hoping to complete a CFA designation in a few years, and might take a law conversion, focusing on corporate acquisitions and mergers.

 

That's the plan, anyway. It's not an easy world anymore, and given the stringent reforms that may be headed Wall Street's way, it's about to get a whole lot harder.

 

That is great man, glad to see you have some goals set for yourself. As long as you put your mind to it, you can achieve it my friend.

 

Even with the rise of algorithmic trading, there are opportunities to be found and exploited. Swing trading is definitely a viable alternative to day trading. My next venture will actually be swing trading equities, I will start pursuing this when I reach a certain balance in my account.

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I have midterms next week so that may interfere with my log slightly, I will try to get in as many trading days as I can throughout the next week or so.

 

P/L: -190(don't have the exact numbers in front of me)

 

 

I had a rough trading day, I found myself making mistakes and becoming impatient and making bad trades. Looking back, I should have been profitAble today. I won't be posting any screenshots as I don't have the time and I know the mistakes I made. I will take this as a learning experience and move forward.

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P/L: -188.92

Account Balance: 3348.84

 

I didn't get a chance to trade yesterday as I was studying for a mid-term(fun times)...I have to take a mid-term in a couple hours and need to do a little last minute studying so I will make this log quick. I had a chance to trade for a few hours this morning, and It was a down day. I'm essentially flat on my account for the last two weeks.

 

I took 3 trades today, all three were losers, one I cut short and the other two I was stopped out. If you look at the trades, I entered an advanced order a tick above/below where I see S/R established. I usually enter a couple ticks away from S/R to make sure I don't get caught in any false breaks...this strategy would have kept me out of these trades. I am attaching 1 and 5 min charts of the individual trades.

 

My observation is that the consistency is the key for trading these markets, I have to trade my strategy and stick around for those days where price action is more tradeable. The ability to distinguish a day with choppy action, and one with established ranges and breaks is also key. I was only able to trade for 3 days this week, and 2 days last week. I will have to make a commitment to trading these markets day in and out and stay disciplined.

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Edited by NoviceTrader1

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Have you considered taking your strategy and doing the exact opposite? I don't mean that in a rude way, just curious. Most of your entries are in such a place where theoretically they work, you'd get the breakout and limited risk. But in reality, those are usually false breakouts intended to get stops, and traders looking for easy money in a breakout. Hence why you see a few ticks go in your direction, then quickly reverse back into the triangle, or range.

 

 

I haven't done much day-trading in the last year, so someone please correct me if I'm wrong.

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There's no right or wrong answer. Some people trade breakouts, others trade reversals - some win and some lose with each method. There's very good breakout traders and very poor breakout traders; there's very good reversal traders and very poor reversal traders.

 

I personally hate trading breakouts for the reason gsx mentioned - you will encounter quite a few fakeouts UNLESS you can filter them to the point that you get in the reliable ones most of the time. Simply buying new highs and selling new lows is a losing game IMO but if you can filter out the bad ones, then it can easily work.

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If you look at the large down candle to the left of your consolidation pattern... to me it suggests a rejection of higher prices as the selling was strong. Here's the tough part to realize: For the traders who shorted the top of that bar... they profited from the down move and when price gets back there they are going to do it again. I know that sounds simplistic but in my experience it is the simple logic that works. If it were the 3rd time - it would be more likely to be able to breakthrough ... but the 2nd is still most likely going to be faded.

 

In my experience... the best way to tarde breakouts is to pick a direction and be a (in this csase) buyer at the lowest price possible near the low channel and that allows you to scale at the breakout and then hold the rest without losing money if it pullsback. In other word, the best way to be a breakout trader is to enter before it breaks out on a pullback.

 

Oliver Velez has some webinars and educational recordings where he describe this technique. You can find them with a google search.

 

Good luck with your trading.

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If you look at the large down candle to the left of your consolidation pattern... to me it suggests a rejection of higher prices as the selling was strong. Here's the tough part to realize: For the traders who shorted the top of that bar... they profited from the down move and when price gets back there they are going to do it again. I know that sounds simplistic but in my experience it is the simple logic that works. If it were the 3rd time - it would be more likely to be able to breakthrough ... but the 2nd is still most likely going to be faded.

 

In my experience... the best way to tarde breakouts is to pick a direction and be a (in this csase) buyer at the lowest price possible near the low channel and that allows you to scale at the breakout and then hold the rest without losing money if it pullsback. In other word, the best way to be a breakout trader is to enter before it breaks out on a pullback.

 

Oliver Velez has some webinars and educational recordings where he describe this technique. You can find them with a google search.

 

Good luck with your trading.

 

I appreciate your input, but this log is more for myself than anything. I am using it as a tool for commitment and a way to look at my mistakes. I am well aware as to how these markets trade, and I am continually refining my technique and my trading strategy. I trade breaks, and this is the strategy I will be trading as long as I see fit. If you have any suggestions as to how to differentiate between real and false breaks or S/R it would be appreciated, other than that thanks.

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Hey there...try looking at longer term S/R levels...on the daily for example, and then enter based on your criteria using a lower tf chart. The problem is that there is a lot of price manipulation at s/r levels, surges in volume can be due to algorithmic activity...this is what is causing the 'false breakouts' as they are called. Day trading has been difficult for me recently, and I realise that my personal breakout strategy is losing its effectiveness...it is very similar to yours by the looks of it. Part of the game is being willing to adapt to changing conditions. HFT is here to stay, and there is nothing that we can do to stop it, though no algo operator (was talking to one today in fact) is willing to take on a huge position, such as would be the required with longer tf s/r levels...the risk is too high for them. Hope I've been of some help!

 

Good luck with the trading mate!

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If you have any suggestions as to how to differentiate between real and false breaks or S/R it would be appreciated...

 

I am sorry ... I thought it was obvious. When you see a big fat red candle like the one to the left in your chart, don't take the break until price gets through at least the majority or all of that red candle. It is controlling the price action.

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    • Date: 18th April 2024. Market News – Stock markets benefit from Dollar correction. Economic Indicators & Central Banks:   Technical buying, bargain hunting, and risk aversion helped Treasuries rally and unwind recent losses. Yields dropped from the recent 2024 highs. Asian stock markets strengthened, as the US Dollar corrected in the wake of comments from Japan’s currency chief Masato Kanda, who said G7 countries continue to stress that excessive swings and disorderly moves in the foreign exchange market were harmful for economies. US Stockpiles expanded to 10-month high. The data overshadowed the impact of geopolitical tensions in the Middle East as traders await Israel’s response to Iran’s unprecedented recent attack. President Joe Biden called for higher tariffs on imports of Chinese steel and aluminum.   Financial Markets Performance:   The USDIndex stumbled, falling to 105.66 at the end of the day from the intraday high of 106.48. It lost ground against most of its G10 peers. There wasn’t much on the calendar to provide new direction. USDJPY lows retesting the 154 bottom! NOT an intervention yet. BoJ/MoF USDJPY intervention happens when there is more than 100+ pip move in seconds, not 50 pips. USOIL slumped by 3% near $82, as US crude inventories rose by 2.7 million barrels last week, hitting the highest level since last June, while gauges of fuel demand declined. Gold strengthened as the dollar weakened and bullion is trading at $2378.44 per ounce. Market Trends:   Wall Street closed in the red after opening with small corrective gains. The NASDAQ underperformed, slumping -1.15%, with the S&P500 -0.58% lower, while the Dow lost -0.12. The Nikkei closed 0.2% higher, the Hang Seng gained more than 1. European and US futures are finding buyers. A gauge of global chip stocks and AI bellwether Nvidia Corp. have both fallen into a technical correction. The TMSC reported its first profit rise in a year, after strong AI demand revived growth at the world’s biggest contract chipmaker. The main chipmaker to Apple Inc. and Nvidia Corp. recorded a 9% rise in net income, beating estimates. Always trade with strict risk management. Your capital is the single most important aspect of your trading business. Please note that times displayed based on local time zone and are from time of writing this report. Click HERE to access the full HFM Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE! Click HERE to READ more Market news. Andria Pichidi Market Analyst HFMarkets Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
    • Date: 17th April 2024. Market News – Appetite for risk-taking remains weak. Economic Indicators & Central Banks:   Stocks, Treasury yields and US Dollar stay firmed. Fed Chair Powell added to the recent sell off. His slightly more hawkish tone further priced out chances for any imminent action and the timing of a cut was pushed out further. He suggested if higher inflation does persist, the Fed will hold rates steady “for as long as needed.” Implied Fed Fund: There remains no real chance for a move on May 1 and at their intraday highs the June implied funds rate future showed only 5 bps, while July reflected only 10 bps. And a full 25 bps was not priced in until November, with 38 bps in cuts seen for 2024. US & EU Economies Diverging: Lagarde says ECB is moving toward rate cuts – if there are no major shocks. UK March CPI inflation falls less than expected. Output price inflation has started to nudge higher, despite another decline in input prices. Together with yesterday’s higher than expected wage numbers, the data will add to the arguments of the hawks at the BoE, which remain very reluctant to contemplate rate cuts. Canada CPI rose 0.6% in March, double the 0.3% February increase BUT core eased. The doors are still open for a possible cut at the next BoC meeting on June 5. IMF revised up its global growth forecast for 2024 with inflation easing, in its new World Economic Outlook. This is consistent with a global soft landing, according to the report. Financial Markets Performance:   USDJPY also inched up to 154.67 on expectations the BoJ will remain accommodative and as the market challenges a perceived 155 red line for MoF intervention. USOIL prices slipped -0.15% to $84.20 per barrel. Gold rose 0.24% to $2389.11 per ounce, a new record closing high as geopolitical risks overshadowed the impacts of rising rates and the stronger dollar. Market Trends:   Wall Street waffled either side of unchanged on the day amid dimming rate cut potential, rising yields, and earnings. The major indexes closed mixed with the Dow up 0.17%, while the S&P500 and NASDAQ lost -0.21% and -0.12%, respectively. Asian stock markets mostly corrected again, with Japanese bourses underperforming and the Nikkei down -1.3%. Mainland China bourses were a notable exception and the CSI 300 rallied 1.4%, but the MSCI Asia Pacific index came close to erasing the gains for this year. Always trade with strict risk management. Your capital is the single most important aspect of your trading business. Please note that times displayed based on local time zone and are from time of writing this report. Click HERE to access the full HFM Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE! Click HERE to READ more Market news. Andria Pichidi Market Analyst HFMarkets Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.vvvvvvv
    • Date: 16th April 2024. Market News – Stocks and currencies sell off; USD up. Economic Indicators & Central Banks:   Stocks and currencies sell off, while the US Dollar picks up haven flows. Treasuries yields spiked again to fresh 2024 peaks before paring losses into the close, post, the stronger than expected retail sales eliciting a broad sell off in the markets. Rates surged as the data pushed rate cut bets further into the future with July now less than a 50-50 chance. Wall Street finished with steep declines led by tech. Stocks opened in the green on a relief trade after Israel repulsed the well advertised attack from Iran on Sunday. But equities turned sharply lower and extended last week’s declines amid the rise in yields. Investor concerns were intensified as Israel threatened retaliation. There’s growing anxiety over earnings even after a big beat from Goldman Sachs. UK labor market data was mixed, as the ILO unemployment rate unexpectedly lifted, while wage growth came in higher than anticipated – The data suggests that the labor market is catching up with the recession. Mixed messages then for the BoE. China grew by 5.3% in Q1 however the numbers are causing a lot of doubts over sustainability of this growth. The bounce came in the first 2 months of the year. In March, growth in retail sales slumped and industrial output decelerated below forecasts, suggesting challenges on the horizon. Today: Germany ZEW, US housing starts & industrial production, Fed Vice Chair Philip Jefferson speech, BOE Bailey speech & IMF outlook. Earnings releases: Morgan Stanley and Bank of America. Financial Markets Performance:   The US Dollar rallied to 106.19 after testing 106.25, gaining against JPY and rising to 154.23, despite intervention risk. Yen traders started to see the 160 mark as the next Resistance level. Gold surged 1.76% to $2386 per ounce amid geopolitical risks and Chinese buying, even as the USD firmed and yields climbed. USOIL is flat at $85 per barrel. Market Trends:   Breaks of key technical levels exacerbated the sell off. Tech was the big loser with the NASDAQ plunging -1.79% to 15,885 while the S&P500 dropped -1.20% to 5061, with the Dow sliding -0.65% to 37,735. The S&P had the biggest 2-day sell off since March 2023. Nikkei and ASX lost -1.9% and -1.8% respectively, and the Hang Seng is down -2.1%. European bourses are down more than -1% and US futures are also in the red. CTA selling tsunami: “Just a few points lower CTAs will for the first time this year start selling in size, to add insult to injury, we are breaking major trend-lines in equities and the gamma stabilizer is totally gone.” Short term CTA threshold levels are kicking in big time according to GS. Medium term is 4873 (most important) while the long term level is at 4605. Always trade with strict risk management. Your capital is the single most important aspect of your trading business. Please note that times displayed based on local time zone and are from time of writing this report. Click HERE to access the full HFM Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE! Click HERE to READ more Market news. Andria Pichidi Market Analyst HFMarkets Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
    • Date: 15th April 2024. Market News – Negative Reversion; Safe Havens Rally. Trading Leveraged Products is risky Economic Indicators & Central Banks:   Markets weigh risk of retaliation cycle in Middle East. Initially the retaliatory strike from Iran on Israel fostered a haven bid, into bonds, gold and other haven assets, as it threatens a wider regional conflict. However, this morning, Oil and Asian equity markets were muted as traders shrugged off fears of a war escalation in the Middle East. Iran said “the matter can be deemed concluded”, and President Joe Biden has called on Israel to exercise restraint following Iran’s drone and missile strike, as part of Washington’s efforts to ease tensions in the Middle East and minimize the likelihood of a widespread regional conflict. New US and UK sanctions banned deliveries of Russian supplies, i.e. key industrial metals, produced after midnight on Friday. Aluminum jumped 9.4%, nickel rose 8.8%, suggesting brokers are bracing for major supply chain disruption. Financial Markets Performance:   The USDIndex fell back from highs over 106 to currently 105.70. The Yen dip against USD to 153.85. USOIL settled lower at 84.50 per barrel and Gold is trading below session highs at currently $2357.92 per ounce. Copper, more liquid and driven by the global economy over recent weeks, was more subdued this morning. Currently at $4.3180. Market Trends:   Asian stock markets traded mixed, but European and US futures are slightly higher after a tough session on Friday and yields have picked up. Mainland China bourses outperformed overnight, after Beijing offered renewed regulatory support. The PBOC meanwhile left the 1-year MLF rate unchanged, while once again draining funds from the system. Nikkei slipped 1% to 39,114.19. On Friday, NASDAQ slumped -1.62% to 16,175, unwinding most of Thursday’s 1.68% jump to a new all-time high at 16,442. The S&P500 fell -1.46% and the Dow dropped 1.24%. Declines were broadbased with all 11 sectors of the S&P finishing in the red. JPMorgan Chase sank 6.5% despite reporting stronger profit in Q1. The nation’s largest bank gave a forecast for a key source of income this year that fell below Wall Street’s estimate, calling for only modest growth. Apple shipments drop by 10% in Q1. Always trade with strict risk management. Your capital is the single most important aspect of your trading business. Please note that times displayed based on local time zone and are from time of writing this report. Click HERE to access the full HFM Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE! Click HERE to READ more Market news. Andria Pichidi Market Analyst HFMarkets Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
    • The morning of my last post I happened to glance over to the side and saw “...angst over the FOMC’s rate trajectory triggered a flight to safety, hence boosting the haven demand. “   http://www.traderslaboratory.com/forums/topic/21621-hfmarkets-hfmcom-market-analysis-services/page/17/?tab=comments#comment-228522   I reacted, but didn’t take time to  respond then... will now --- HFBlogNews, I don’t know if you are simply aggregating the chosen narratives for the day or if it’s your own reporting... either way - “flight to safety”????  haven ?????  Re: “safety  - ”Those ‘solid rocks’ are getting so fragile a hit from a dandelion blowball might shatter them... like now nobody wants to buy longer term new issues at these rates...yet the financial media still follows the scripts... The imagery they pound day in and day out makes it look like the Fed knows what they’re doing to help ‘us’... They do know what they’re doing - but it certainly is not to help ‘us’... and it is not to ‘control’ inflation... And at some point in the not too distant future, the interest due will eat a huge portion of the ‘revenue’ Re: “haven” The defaults are coming ...  The US will not be the first to default... but it will certainly not be the very last to default !! ...Enough casual anti-white racism for the day  ... just sayin’
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