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O’Hare: My Best & Worst Trade from 2014
With the 2014 trading year coming to an end, we at TradingFloor.com are taking a moment to reflect on the highs and lows from the past year.
Steve O’Hare from First 4 Trading remembers a correct call on gold as his best trade from the past year. As tensions continued to increase between Russia and Ukraine, investors had flooded the gold market. However, Steve had predicted that in the short-term prices had hit their peak after a close below USD 1300. He placed a trade to sell at USD 1310 and within a few weeks hit his target level of USD 1250. One trade that didn’t quite go as Steve had anticipated was a call on oil. As prices danced around the USD 80 a barrel level, Steve had believed that support was fading an adapted a bearish view. Unfortunately, after placing his trade a false break below USD 80 stopped him out. Oil prices subsequently fell shortly after and continued down to USD 60. In hindsight Steve notes that he should have waited for a close below USD 80 before placing the trade.
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01:46 minutes
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