Trade Discussion and Analysis

[firewalker 10]

witching day today chaps so be careful out there... I know a lot of people taking the day off because of it.

 

:o bs

 

I have yet to see any correlation between triple/quadruple witching day and any extraordinary activity in the futures market.

[brownsfan019 17]

What's happening that makes it 'witching day'? Is it because of the uncertainty of tomorrow's market?

 

Triple Witching

 

An event that occurs when the contracts for stock index futures, stock index options and stock options all expire on the same day. Triple witching days happen four times a year on the third Friday of March, June, September and December.

[wasp 10]

:o bs

 

I have yet to see any correlation between triple/quadruple witching day and any extraordinary activity in the futures market.

 

Just saying be careful!

 

Always expect the unexpected.

[cowpip 10]

Just saying be careful!

 

Always expect the unexpected.

 

If we always expected the unexpected, we wouldn't trade! We'd be too freaked to take on any risk! At least, I would.

 

I'm betting that there will be some order amongst the disorder. But the problem during this period is that the disorder is almost louder than the order.

 

I slept with my laptop again last night (wooo! much to my wife's chagrin!), and managed to take two losses on false trend-line breaks. I guess there was just too much noise to reliably choose a TL break.

 

I'm in one more time here on a clearer hourly TL break, short GJ from 190.74. With any luck, this thing will roll lower. Otherwise, I'll be calling it quits for the rest of the day and tomorrow. Going to get my head out of this mess for the weekend and enjoy some camping and fishing.

[wasp 10]

If we always expected the unexpected, we wouldn't trade! We'd be too freaked to take on any risk! At least, I would.

 

Okay, maybe not the best choice of words. Perhaps, ''be ready for anything with correct risk parameters in case the worst scenario approaches''. After my early week nastiness, I am just more cautious and careful now.

 

I'm betting that there will be some order amongst the disorder. But the problem during this period is that the disorder is almost louder than the order.

 

I slept with my laptop again last night (wooo! much to my wife's chagrin!), and managed to take two losses on false trend-line breaks. I guess there was just too much noise to reliably choose a TL break.

 

I'm in one more time here on a clearer hourly TL break, short GJ from 190.74. With any luck, this thing will roll lower. Otherwise, I'll be calling it quits for the rest of the day and tomorrow. Going to get my head out of this mess for the weekend and enjoy some camping and fishing.

 

Ouch! gutted mate, nothing worse than making the effort then it going sour. Not a bad idea to take a day off though, come back when it settles a bit more.

[cowpip 10]

Chickened out. Bwak! Closed at b/e after it failed to run lower on the current hourly. But there's no change in the signal. Maybe I'll re-enter if given the chance. I dunno...

[wasp 10]

Chickened out. Bwak! Closed at b/e after it failed to run lower on the current hourly. But there's no change in the signal. Maybe I'll re-enter if given the chance. I dunno...

 

If I was you I'd walk away now and come back next week... I wouldn't trade if you are this unsure at the moment.

[cowpip 10]

If I was you I'd walk away now and come back next week... I wouldn't trade if you are this unsure at the moment.

 

Thanks Wasp. I think you're right. Hi-ho... I'm off to catch some fish. Have a great weekend, everyone!

[wasp 10]

Thanks Wasp. I think you're right. Hi-ho... I'm off to catch some fish. Have a great weekend, everyone!

 

Enjoy, forget, relax, come back refreshed and raring to go, confident and relaxed.

 

Have a good one!

[wasp 10]

The Board of the Financial Services Authority (FSA) today (Thursday 18 September) agreed to introduce new provisions to the Code of Market Conduct to prohibit the active creation or increase of net short positions in publicly quoted financial companies from midnight tonight.

 

In addition, the FSA will require from Tuesday 23 September daily disclosure of all net short positions in excess of 0.25 per cent of the ordinary share capital of the relevant companies held at market close on the previous working day. Disclosure of such positions held at close on Friday 19 September will also be required on Tuesday 23 September.

 

The FSA stands ready to extend this approach to other sectors if it judges it to be necessary.

 

These provisions will remain in force until 16 January 2009, although they will be reviewed after 30 days. A comprehensive review of the rules on short selling will be published in January.

 

Hector Sants, chief executive of the FSA, said:

 

"While we still regard short-selling as a legitimate investment technique in normal market conditions, the current extreme circumstances have given rise to disorderly markets. As a result, we have taken this decisive action, after careful consideration, to protect the fundamental integrity and quality of markets and to guard against further instability in the financial sector."

The detailed changes to the Code of Market Conduct, and a schedule of the companies whose securities are covered by them, will be published before the market opens tomorrow (Friday 19 September).

http://www.fsa.gov.uk/pages/Library/Communication/PR/2008/102.shtml

[wasp 10]

I cannot believe someone on T2W is worried they can't short cable :o:o:o

[firewalker 10]

The Board of the Financial Services Authority (FSA) today (Thursday 18 September) agreed to introduce new provisions to the Code of Market Conduct to prohibit the active creation or increase of net short positions in publicly quoted financial companies from midnight tonight.

 

In addition, the FSA will require from Tuesday 23 September daily disclosure of all net short positions in excess of 0.25 per cent of the ordinary share capital of the relevant companies held at market close on the previous working day. Disclosure of such positions held at close on Friday 19 September will also be required on Tuesday 23 September.

 

The FSA stands ready to extend this approach to other sectors if it judges it to be necessary.

 

These provisions will remain in force until 16 January 2009, although they will be reviewed after 30 days. A comprehensive review of the rules on short selling will be published in January.

 

Hector Sants, chief executive of the FSA, said:

 

"While we still regard short-selling as a legitimate investment technique in normal market conditions, the current extreme circumstances have given rise to disorderly markets. As a result, we have taken this decisive action, after careful consideration, to protect the fundamental integrity and quality of markets and to guard against further instability in the financial sector."

The detailed changes to the Code of Market Conduct, and a schedule of the companies whose securities are covered by them, will be published before the market opens tomorrow (Friday 19 September).

http://www.fsa.gov.uk/pages/Library/Communication/PR/2008/102.shtml

 

Disgusting.

 

Appalling.

 

Petition for free markets anybody?

[wasp 10]

This is ONLY UK financial companies!

 

You don't trade anything British FFS!

[firewalker 10]

This is ONLY UK financial companies!

 

You don't trade anything British FFS!

 

I know, but the SEC did something similar in July for US stocks.

 

So first we had the uptick rule, than the no naked short selling and now no short selling at all!

 

Where is this going to end?

[wasp 10]

I know, but the SEC did something similar in July for US stocks.

 

So first we had the uptick rule, than the no naked short selling and now no short selling at all!

 

Where is this going to end?

 

Trade FX mate, its a relationship, not a company! Can't ban sale of one!

 

Must be annoying for guys like you though... what with only just learning how to trade!!! :haha:

[wasp 10]

**** me those indices are off! Hope everyone is long! (you can't be short mwah!)

[firewalker 10]

**** me those indices are off! Hope everyone is long! (you can't be short mwah!)

 

Amazing... 150 point spread bars in 5 minutes... that's about the average daily range that we had last year in just under 5 minutes

 

So what was that again about the 1 minute timeframe not being useful?

[wasp 10]

Amazing... 150 point spread bars in 5 minutes... that's about the average daily range that we had last year in just under 5 minutes

 

So what was that again about the 1 minute timeframe not being useful?

 

SMBTNT called it about 3 hours ago! What TF do you use SMB?

 

Where the hell were you is the question???!

[firewalker 10]

SMBTNT called it about 3 hours ago! What TF do you use SMB?

 

Where the hell were you is the question???!

 

I was just observing the unusual speed, excellent call from smbtnt, but I wasn't around to take it and probably would not have gone long anyhow!

 

That support is from the DAX btw, I was looking where the bounce came from on the DOW... I did have 1140 on the ES which was very close to the low of day, but any charts with a fresh perspective on the DOW would definitely please me

[wasp 10]

I was just observing the unusual speed, excellent call from smbtnt, but I wasn't around to take it and probably would not have gone long anyhow!

 

That support is from the DAX btw, I was looking where the bounce came from on the DOW... I did have 1140 on the ES which was very close to the low of day, but any charts with a fresh perspective on the DOW would definitely please me

 

Hold on!

 

I know it was the dax. Like the cable thread on T2W you have been posting on, watching multi GBP pairs help as would watching multi indices.

[smbtnt 10]

Guys i have to pop out, its our holy month of fasting and these last 10 nights are very special, have to go and cleanse the old soul from whole year's build up of transgessons against the lord...

Will def post something substantial tomorrow.

[wasp 10]

no probs smbtnt, I'll try and teach firewalker some basics in the meantime!

[firewalker 10]

Hold on!

 

I know it was the dax. Like the cable thread on T2W you have been posting on, watching multi GBP pairs help as would watching multi indices.

 

A lot of lines close together though...

 

Here's how I see it:

 

[smbtnt 10]

no probs smbtnt, I'll try and teach firewalker some basics in the meantime!

 

LOL!

Both of you have been my mentors in the past, futures and fX respectvely, I feel it's fnally coming together, if only I lacked emotions everytime a signal turned up, like you guys can...

[firewalker 10]

no probs smbtnt, I'll try and teach firewalker some basics in the meantime!

 

And I'll try and teach you some manners! :haha: