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UKX Short trades

index:ukx

#402

Short at 7475.30. Re-added a 7th for same reasons.


#403

Closed at 7458. Booked another 17+ points. Shorts down to 6.

Need to go out a while. With over 90 points already booked today, that may do until things settle down.


#404

Short at 7429. Re-added a 7th, hedged by 7 longs.


#405

Closed 7418.80. Booked 10+ points. Shorts down to 6.


#406

Short at 7428.80. Re-added a 7th, same reasons.


#407

Closed at 7414.80. Booked another 14 points. Shorts down to 6. Now going for another break.


#408

Short at 7425. A 7th re-add, same reasons. These hedged by 7 longs.


#409

Closed at 7413. Booked 12 points. Shorts reduced to 6.

Maybe I closed this short too soon, but that rounds off another very decent day. I also may be out in spells tomorrow.


#410

Short at 7472.80. Re-added a 7th, hedged by 6 longs.


#411

Closed at 7462.30. Booked 10.5 points. Shorts down to 6.


#412

Short at 7481.80. Re-added a 7th, same logic.


#413

Closed at 7444.30. Booked 37.5 points. Shorts down to 6.

Busy day away from my desk today in spells, so this trade more useful than usual.


#414

Short at 7431.80. Re-added a 7th & back to parity with longs for now.


#415

Closed via limit order at 7404.80. Time triggered: 12.00:01. Booked 27 points. Shorts down to 6.

Quite a day! Pity I was away from my desk from mid-morning until after 5.15 PM.


#416

Short at 7433.30. Re-added a 7th, hedged by 7 longs.


#417

Closed 7393.30. Booked 40 points. Shorts down to 6.


#418

Closed at 7356. Took a very rare hit of 5 points & reduced my shorts to 5. Reasons: UKX seems to have support around these levels. At least for now & recently. I feel I have enough shorts hedging longs in case of further reversals.


#419

Spotted you Jack.! So good to see yo u will still post here. I will gladly check each one.


#420

Hi @Zacchaeus,

Thanks. Both UKX threads, long & short, function as a personal diary for live trades. That includes inevitable misfires, holding paper losses, plenty of booking gains too soon, et al. All par for the course with volatile indices.

Though some positions remain underwater, that’s well expected. Some function mostly as hedges in the event of very sharp move against. That ensures little material damage to my margin. It also allows me to continue booking gains fairly often as trading ranges change.

For eg. until very recently, my shorts & longs were mostly matched again. But I’m now weighted to the long-side. That balance changes over time. We’ll soon be heading into a period of bigger weekly UKX dividends after a very quiet time with some weeks seeing zero dividends. Though that alone isn’t reason to be weighted to the long-side, as those dividends mount, neither do I want too many shorts.

Later, I foresee perhaps closing some short positions at loss. Then I’ll change my approach to holding long positions more patiently, hoping to close all at profit & take a breather.

Though I take nothing for granted, IMO, Sterling is at risk of further devaluation due to Brexit. Weaker Sterling tends to boost profits of UKX’s dollar-earning, global stocks. So I won’t be surprised to see UKX retest recent highs over the next 12 months or so. Of course I could also be mistaken, especially regarding timeframe. - Regards.


#421

Thanks so much . Great analysis as ever - and a strategy that enables profits on short term moves and mitigates damage should overall analysis not work out.