Reply to: Boomed! - Just bought a load of HBOS ...

[SantaClaus]

At least with the jobs data it is released before the start of trading and there is an indicator the day before. With fed day it gets released roughly around 13:15, so all morning the market bounces around going nowhere and then goes wacky at the time of announcement. I gave up trading fed day years ago.

News releases are just a way for brokers to stop out as many positions as possible. Thats why they always spike prices both way.

[sasguru]

At least with the jobs data it is released before the start of trading and there is an indicator the day before. With fed day it gets released roughly around 13:15, so all morning the market bounces around going nowhere and then goes wacky at the time of announcement. I gave up trading fed day years ago.

Any black swan event has more significance than fed day. Most of Halifax are small investors and they fact that they would panic was completely predictable. But yes I was lucky ...

[HairyArsedBloke]

Nearly forgot, yes your right HAB, it was Fed day which is almost as bad as non farm payroll day in terms of volatility.

At least with the jobs data it is released before the start of trading and there is an indicator the day before. With fed day it gets released roughly around 13:15, so all morning the market bounces around going nowhere and then goes wacky at the time of announcement. I gave up trading fed day years ago.

[Moscow Mule]

Now in +ve territory, + 50 points on my buy price, but back to phone only.

[Moscow Mule]

I agree.
When IG start quoting over the phone only like they did with HBOS, they usually increase the minimum stoploss for guaranteed positions to humungus amounts or even remove the guaranteed stop facility altogether. This is to cover their risky position in volatile markets.
If you dont take a guaranteed position, in markets like this, you risk having your stoploss slipped, often by hundreds of points.

Nearly forgot, yes your right HAB, it was Fed day which is almost as bad as non farm payroll day in terms of volatility.

They've just gone back to internet trading.

March price is almost back to +ve territory on the day.

[ookook]

Once we've tested 5050 on the FTSE we could see 4930 today.

Anyone want to start a trader's thread?

great idea, I'd join a traders thread - it might stop me making so many amateurish mistakes

[SantaClaus]

Wise words, oh seasonal one.

Didn't want to say yesterday, but I thought the idea of a retail customer opening a new position on a fed day in a market like this was idiotic and

I agree.
When IG start quoting over the phone only like they did with HBOS, they usually increase the minimum stoploss for guaranteed positions to humungus amounts or even remove the guaranteed stop facility altogether. This is to cover their risky position in volatile markets.
If you dont take a guaranteed position, in markets like this, you risk having your stoploss slipped, often by hundreds of points.

Nearly forgot, yes your right HAB, it was Fed day which is almost as bad as non farm payroll day in terms of volatility.

[SantaClaus]

Santa Clauses traders thread. Kind of like the multi coloured swap shop for the new millennia ..

ha ha . I like it

[snaw]

Once we've tested 5050 on the FTSE we could see 4930 today.

Anyone want to start a trader's thread?

Santa Clauses traders thread. Kind of like the multi coloured swap shop for the new millennia ..

[HairyArsedBloke]

You got lucky this time SG, but rule 1 of trading: never chase the market.
Always buy/sell at turns in the market off major support/resistance.

Price does not always follow the fundamentals.

Wise words, oh seasonal one.

Didn't want to say yesterday, but I thought the idea of a retail customer opening a new position on a fed day in a market like this was idiotic and

[SantaClaus]

Once we've tested 5050 on the FTSE we could see 4930 today.

Anyone want to start a trader's thread?

[bobhope]

through the floor now - lucky is not the word

[SantaClaus]

You got lucky this time SG, but rule 1 of trading: never chase the market.
Always buy/sell at turns in the market off major support/resistance.

Price does not always follow the fundamentals.

[Diestl]

Now they are at £1.25

[snaw]

HBOS now around 195. Drinks are on SG!

Now at about 128 ...