Trading software

Tuesday, November 13, 2012

Octopus: Sam Israel, the Secret Market, and Wall Street's Wildest Con

Just finished a fantastic book:

It's a non-fiction book but it reads like a thriller and they definitely should make a movie about it. I won't ruin it too much in case anyone chooses to read it but basically, it's about Sam Israel III, the guy that ran the Bayou Hedge Fund.
Israel was basically a good guy at heart but some bad trades seen his hedge fund in trouble. He ended up treating it like a Ponzi scheme and needed to get out. Amazingly, he fell for a load of conspiracy theory stuff about a secret trading market and ended up putting Bayou's hedge fund in accounts with guys in London and elsewhere. The trickster was tricked himself. Amazing story and a proper page turner. 
In the racing, I've one for today - Anna's Arch in the 2.50 at Sedgefield. Turned out quickly under a penalty and should be hard to beat:

Dual bumper winner who shaped with promise in couple of novices last December before taking significant step forward to make winning handicap bow at Kelso last week. Hard to oppose under penalty.

In the financial trading, there looks to be a nice Gap Trade opportunity on the S&P500. As explained before, the gap simply involves buying the S&P around 11.30am (Irish time) when there is a decent gap between the current price and last night's close price. If you take a look at the graph, you will see that I bought the index this morning at 1368.8. My profit target is last night's closing price of 1378.4 and my stop loss is one and a half times my desired profit at 1354. I've added lines at the key prices explaining each:

Elsewhere, my gold trade is still in profit thankfully to the tune of about €40. Best of luck with your trading and betting today.

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