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Why I’m buying HK50.I after China data – #SaxoStrats video
Peter Garnry
01 November 2016 at 14:14 GMT
Video / 01 November 2016 at 14:14 GMT

Why I’m buying HK50.I after China data – #SaxoStrats video

Peter Garnry
Better than expected PMI manufacturing and services figures from China suggests the country’s economy is improving, says Saxo Bank’s head of equity strategy Peter Garnry.

The Li Keqiang Index tracking manufacturing activity is now up 9.9% year-on-year, accelerating from 1.2% year-on-year in September 2015. The Hang Seng valuation is among the cheapest in the emerging-markets segment, says Garnry.

Through the CFD Index Tracker HK50.I, he is looking buy at market with a target at 24,000 points and a very tight stop at 23,150 points. 

Garnry explains that the biggest risk to his trade is worse-than-expected macro data over the coming days with a potentially hawkish FOMC meeting on Wednesday.

You can read more about Garnry’s trade here.
2y
SierraPt. SierraPt.
Meanwhile the trade already hit stop loss
2y
yakcay yakcay
A very significant proportion of Garnry's recent "trade views" have hit their respective stop losses.In fact, if you had done the opposite of whatever he said, I think you would be in a very very good position right now. Very disappointed as a SaxoBank customer...
2y
Peter Garnry Peter Garnry
Yes, the stop loss was very tight, but that was the intention. Either this was going to be a trend or not, and apparently sentiment has shifted through the European session...
2y
Blange Blange
@yakcay: was thinking exactly the same
2y
ex_vol_trader ex_vol_trader
SierraPt , yakcay and Blange ... if you are so good traders ... trade your own ideas and stop complaining
2y
yakcay yakcay
Ex_vol_trader: I am not claiming to be an expert. That is why I am not the head of Equity at SaxoBank. However, I am a customer of SaxoBank, and I have every right to complain that the recent advice from Mr. Garnry turned out to be not so useful. What is wrong with that?
2y
Feders Feders
That is happening to me with a lot of trade views, not from Peter (actually I had some good calls), but from others, in options, FX, etc. It would be nice to have a benchmark, statistics or something to measure how good is each professional trader here who post trade views. As an inexpert trader I relay a lot in what other experts says, but until now I'm just collecting losses. It's like some are throwing trades views here and there with not so much compromise. One like me follows those views and end lossing money. I think Saxo should try to protect its clients right?...Sorry the catharsis
2y
Georgio Stoev Georgio Stoev
each trade view is educational in nature and everyone should take time to understand/test these before applying. it's not an advice or one size fits all. We don't charge a fee for this service. It's free. It's in the disclaimer below.
2y
AlexF AlexF
No one can expect winning trades, all have to use the info + own view and make something out of it, what I do not like is when there is unconsistent view eg: long Novo in main strategy and short advice on tradingfloor. On the otherhand I really like saxo/trading floor but you can improve a lote especially the info part (tradingfloor) it is messay we cant follow post, no live info, not sure where to have a discussion with other traders eetc..... you should talk to clients (I guess u do research) I m a makerting guy so please do consumer/client research and ull be great and thnaks for all the post/view, mornign calls
2y
ex_vol_trader ex_vol_trader
as Head of Strategy at a big bank ... you propose a trade to a big HF or financial institution...if they do the trade or not is their choose.... btw @AlexF is right ..... I LIKE MORNING CALLS ... (is exact what I use to have at bank every morning)
2y
Peter Garnry Peter Garnry
I like this discussion because it gives me the opportunity to clarify some things.

1) Predicting financial markets is very difficult. Whether you systematic models or discretionary decisions. Win ratios will always be close to 50% unless I only make long-only ideas in equities, then my win ratio would jump to around 67% on monthly observations. But that is not why we are here.

2) I never hided the fact that this could be an extremely short trade because of the tight stop. It was as explained a breakout trade. Win ratios on those are often below 50% because you your P/L profile on wins/losses make up for the <50% win ratio. However, I misinterpreted the sentiment change as we went into European session because of polls showing Trump was catching up fast to Clinton's lead.

3) I guarantee that I'm not afraid of making trading ideas even when I will be wrong almost half the times. And according to EU law we will post the performance of all of our ideas on a quarterly basis.
2y
Peter Garnry Peter Garnry
But I appreciate you guys sharing your opinion.
2y
AlexF AlexF
Thanks Peter keep up the advices !

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