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Archive for October, 2007

Mr FT is a self-employed spread better. After 18 years in fund management he was given the choice of moving to London or .. not. ‘Not’ won out.

FT has been trading full time from home for two years, with nothing but four kids and a beach to distract him .

He fills his spare time with weight training and rugby, though more coaching than playing these days.

FT mostly trades the forex markets and although he plays FTSE on occasions his bread and butter market is £$.

He likes to think that his technique is evolving but still hasn’t the temperament or money to back the big calls. He prefers to trade between 1 and 3 times a day, aiming to take regular small gains, but feels part of the evolution is in not dealing if the conditions don’t feel right.
 All About The Fed, Stupid
Posted by FT on October 31, 2007
Category: Trade Diaries, Economics by FT Comment

There’s only one game in town today, and it takes place at 18.15 tonight. Ignore the goblins and witches at the front door and pay close attention to the US Federal Reserve’s trick or treat.

Usually the Fed’s move on interest rates is fairly well signposted and the excitement relates to the accompanying statement. This time it had seemed to be a done deal, then the Wall Street Journal’s Fed Watcher (they pay some-one just to monitor the Federal Reserve!) spooked the markets saying that a cut was ‘no sure thing’.


Mr FT is a self-employed spread better. After 18 years in fund management he was given the choice of moving to London or .. not. ‘Not’ won out.

FT has been trading full time from home for two years, with nothing but four kids and a beach to distract him .

He fills his spare time with weight training and rugby, though more coaching than playing these days.

FT mostly trades the forex markets and although he plays FTSE on occasions his bread and butter market is £$.

He likes to think that his technique is evolving but still hasn’t the temperament or money to back the big calls. He prefers to trade between 1 and 3 times a day, aiming to take regular small gains, but feels part of the evolution is in not dealing if the conditions don’t feel right.
 No Resolution, I Am Out
Posted by FT on October 30, 2007
Category: Trade Diaries, Shares & Indices, Currencies by FT Comment

Now, I love stop losses just like I love my missus, but every once in a while I could do without them. When I left a £2 long position in GBP/USD last night I was £80 in profit and hoping to report today that I’d made back yesterday’s loss.

But the early morning price showed that enthusiasm for Sterling during Asian time was on a par with Lawrence Dallaglio’s feelings for coach Brian Ashton.


Mr FT is a self-employed spread better. After 18 years in fund management he was given the choice of moving to London or .. not. ‘Not’ won out.

FT has been trading full time from home for two years, with nothing but four kids and a beach to distract him .

He fills his spare time with weight training and rugby, though more coaching than playing these days.

FT mostly trades the forex markets and although he plays FTSE on occasions his bread and butter market is £$.

He likes to think that his technique is evolving but still hasn’t the temperament or money to back the big calls. He prefers to trade between 1 and 3 times a day, aiming to take regular small gains, but feels part of the evolution is in not dealing if the conditions don’t feel right.
 More Impressive Than A Henry VIII Cod Piece
Posted by FT on October 30, 2007
Category: Trade Diaries, Shares & Indices, Currencies by FT Comment

Boy, was my trip to London expensive? On top of paying a fortune for the privilege of standing in queues for most of the day, I missed the chance of putting my FTSE trade on (see The Steak Was Good, What About The Charts?).

From the looks of it the index did all the dirty work overnight, hovering above my support/ resistance line, before dropping to test support at 6567. Crucially, whilst we were admiring Henry VIII’s impressive codpiece, support held and was followed by a mother of a bounce to end the morning 100 points to the good.


paddypower editorial content can be written by any one of several people, including the bloggers on this site
 WEEKLY WRAP: 29th OCTOBER
Posted by paddypower editorial on October 29, 2007
Category: Weekly Wraps by paddypower editorial Comment

Morning folks. Here’s your Week Just Gone, Week To Come and What The Papers Said bulletin.

THE WEEK JUST GONE
Poor economic data from the US increased the likelihood that the US Federal Reserve will cut interest rates by 0.25% next week. This, together with some good company results helped equities recover from a poor start on Monday. The Dollar continued to fall as oil and gold hit new highs.


Mr FT is a self-employed spread better. After 18 years in fund management he was given the choice of moving to London or .. not. ‘Not’ won out.

FT has been trading full time from home for two years, with nothing but four kids and a beach to distract him .

He fills his spare time with weight training and rugby, though more coaching than playing these days.

FT mostly trades the forex markets and although he plays FTSE on occasions his bread and butter market is £$.

He likes to think that his technique is evolving but still hasn’t the temperament or money to back the big calls. He prefers to trade between 1 and 3 times a day, aiming to take regular small gains, but feels part of the evolution is in not dealing if the conditions don’t feel right.
 The Steak Was Good, What About The Charts?
Posted by FT on October 26, 2007
Category: Trade Diaries, Shares & Indices, Currencies by FT Comment

Boy am I peeved! I’ve been holding a position in Resolution, waiting for the bid from Standard Life and Swiss Re. The bid duly arrived and OK it wasn’t as much as I hoped for but the price could at least have had the decency to rally back up to the bid level. Instead it’s left floundering around the 708p mark.

Anyway, the steak and chips washed down with a Guinness was the mutt’s nuts; but how did my chart breakouts fare?


Mr FT is a self-employed spread better. After 18 years in fund management he was given the choice of moving to London or .. not. ‘Not’ won out.

FT has been trading full time from home for two years, with nothing but four kids and a beach to distract him .

He fills his spare time with weight training and rugby, though more coaching than playing these days.

FT mostly trades the forex markets and although he plays FTSE on occasions his bread and butter market is £$.

He likes to think that his technique is evolving but still hasn’t the temperament or money to back the big calls. He prefers to trade between 1 and 3 times a day, aiming to take regular small gains, but feels part of the evolution is in not dealing if the conditions don’t feel right.
 Steak And Chips Might Be The Wrong Option
Posted by FT on October 25, 2007
Category: Trade Diaries, Currencies by FT 2 Comments

Hidden amongst a set of deadly dull charts this morning are a couple of breakout situations that could make a few quid. I’ve got my ever-vigilant Garden Gnome to thank for the first one, EUR/USD, whilst the other one is FTSE, which isn’t quite there but….

Oh, and I made enough in GBP/USD to pay for last night’s drinks.


Mr FT is a self-employed spread better. After 18 years in fund management he was given the choice of moving to London or .. not. ‘Not’ won out.

FT has been trading full time from home for two years, with nothing but four kids and a beach to distract him .

He fills his spare time with weight training and rugby, though more coaching than playing these days.

FT mostly trades the forex markets and although he plays FTSE on occasions his bread and butter market is £$.

He likes to think that his technique is evolving but still hasn’t the temperament or money to back the big calls. He prefers to trade between 1 and 3 times a day, aiming to take regular small gains, but feels part of the evolution is in not dealing if the conditions don’t feel right.
 A Jab With The Left Then A Right Uppercut
Posted by FT on October 25, 2007
Category: Trade Diaries, Shares & Indices, Currencies by FT Comment

Ouch! That’s it, no more trading today. Two trades and all I’ve got to show is £130 in red ink. I tried my luck in GBP/USD and GBP/JPY and ended up with a bloody nose. Even my equity bets went against me today.

After allowing a guy half my size to go before me at the barbers this morning I felt I was due some sort of reward, but I’m still waiting.


Mr FT is a self-employed spread better. After 18 years in fund management he was given the choice of moving to London or .. not. ‘Not’ won out.

FT has been trading full time from home for two years, with nothing but four kids and a beach to distract him .

He fills his spare time with weight training and rugby, though more coaching than playing these days.

FT mostly trades the forex markets and although he plays FTSE on occasions his bread and butter market is £$.

He likes to think that his technique is evolving but still hasn’t the temperament or money to back the big calls. He prefers to trade between 1 and 3 times a day, aiming to take regular small gains, but feels part of the evolution is in not dealing if the conditions don’t feel right.
 It Fell Quicker Than Ronaldo In The Penalty Area
Posted by FT on October 23, 2007
Category: Trade Diaries, Shares & Indices, Currencies by FT Comment

Yesterday’s GBP/JPY trade deserved a big Wu-Hoo! I don’t get many like that where the plan works, the risk/reward is sensible and I leave with a decent profit. I still missed the bottom by 100 pips, but hey, am I bovvered? See the chart below.

No tales of triumph today, I’m afraid; I spent the morning trying to rush out a piece looking at the fall in equity prices and asking if they’re worth a flutter (Worth A Flutter Or Not With A Barge Pole?).


Mr FT is a self-employed spread better. After 18 years in fund management he was given the choice of moving to London or .. not. ‘Not’ won out.

FT has been trading full time from home for two years, with nothing but four kids and a beach to distract him .

He fills his spare time with weight training and rugby, though more coaching than playing these days.

FT mostly trades the forex markets and although he plays FTSE on occasions his bread and butter market is £$.

He likes to think that his technique is evolving but still hasn’t the temperament or money to back the big calls. He prefers to trade between 1 and 3 times a day, aiming to take regular small gains, but feels part of the evolution is in not dealing if the conditions don’t feel right.
 Worth A Flutter Or Not With A Barge Pole?
Posted by FT on October 23, 2007
Category: Views & Opinions, Shares & Indices, Currencies, Oil & Gold by FT Comment

Just over a week ago most equity markets were hitting new highs, oil and gold were pushing ever upwards and even Northern Rock had a queue of admirers sniffing around it like dogs round a bitch on heat.

One week later the Dow fell 369 points on Friday alone; it’s now 700 points lower than the week before and the headlines are back to worrying about a real sell-off.

So is this a great buying opportunity created because clever people were spooked by the anniversary of the 1987 crash or have investors started to wake up and smell the coffee?

To put it bluntly, What the hell’s going on?


Mr FT is a self-employed spread better. After 18 years in fund management he was given the choice of moving to London or .. not. ‘Not’ won out.

FT has been trading full time from home for two years, with nothing but four kids and a beach to distract him .

He fills his spare time with weight training and rugby, though more coaching than playing these days.

FT mostly trades the forex markets and although he plays FTSE on occasions his bread and butter market is £$.

He likes to think that his technique is evolving but still hasn’t the temperament or money to back the big calls. He prefers to trade between 1 and 3 times a day, aiming to take regular small gains, but feels part of the evolution is in not dealing if the conditions don’t feel right.
 A Knackered Telly But A Great Trade
Posted by FT on October 22, 2007
Category: Trade Diaries, Shares & Indices, Currencies by FT Comment

I wonder what odds I’d have got on Friday that my £500 2-year old Sony wide screen telly would break just 25 hours before the Rugby World Cup final. Perhaps seeing us lose on an old portable wasn’t quite as painful.

Sometimes we have to pay a premium for additional information and it looks like I paid about 200 pips for mine. On Friday I mentioned a trade in GBP/JPY that I was saving for this week (Here Is One For Next Week) because I didn’t fancy dealing ahead of the weekend G7 meeting. There was also the small matter of a supporting uptrend line that was doing its job on Friday and needed to be tested this week.


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