Active day and swing traders

[marben]

Hi Ayly & Welcome,

I don't think there's been anything particularly unusal over the last couple of weeks. I have observed myself myself that successful & unsuccessfully trades often come in runs: a couple of weeks of good trading, a couple of poor weeks etc.

My recommendation would be not to change anything too soon but to analyse the trades that you've done, once the "price action" has developed further & see what you're doing right & what you're doing wrong.

Good trading!

Mark

 

[barjon]

hi, ayly

agree with mark.

sounds as if the set ups you use are suited to some market conditions but not others. if you can identify that then stand clear until market conditions turn in your favour again - no point flogging a dead horse.

good trading

jon

 

[marben]

Got stopped out of ULVR @ 574 May re-enter this when I get a proper sell signal. Not a lot going right for me today: still short FP, SPW, long TATE. Looking at IHG as a possible short (probably not today).

Cheers,

Mark

 

[khi]

hi ayl

welcome to the thread, again i agree with mark, theres nothing unusual about the market, but for me july was a tough one. analysing ur trades is very important as thats the only way to figure out whether ur current trading style needs adjusting.

just closed my long on ulvr. mark i am going to reenter long later if this momentum holds.

 

[khi]

anyone any view on longing wtb??

 

[marben]

You probably should because my indicators say it's heading down (both weekly MACD & stochastic) :cheesy:

 

[barjon]

anyone any view on longing wtb??

kim

not in my stable, but another of those tight extended range jobbies? broke up last time and today's break may hold and bear fruit. as usual nervous me'd be waiting for a pullback

good trading

jon

 

[khi]

thanks guys

bloody power cut for 10 mins, good job i have only got small amount of kgf and itv left. closed remaining jmat btw.

 

[khi]

kamakazi s in action again shorted pru, half usual size with previous high as stop

 

[khi]

back in blt and xta long, but really cautiously so only half size on each.

 

[marben]

kamakazi s in action again shorted pru, half usual size with previous high as stop

'morning khi et al,

Good to see this one going the right way for you

My TATE long is a bit "exciting" this morning: all over the place on low volumes. Looks like someone's trying to play with price: big sell orders going in and then being withdrawn.

Good trading all,

Mark

 

[nobrainer]

covered all 400k prty short at 169.

 

[Windowsill]

Still long in hsbc & burren.....May take position in Pru (long) on Monday....I'm impressed with position taking on results day! ULVR...personally I would avoid this like the plague! Gives me an idea though, take postions both ways!

 

[khi]

'morning khi et al,

Good to see this one going the right way for you

My TATE long is a bit "exciting" this morning: all over the place on low volumes. Looks like someone's trying to play with price: big sell orders going in and then being withdrawn.

Good trading all,

Mark

good afternnon mark and everyone,

a lil late today as its been quite a busy morning with paper work. pru was a quick punt and closed it in auction so was a quick loss as well a penny and a half...

bought more blt, xta this morning. and bought some ezj at opening auction got filled at a good price, will hold a lil longer. also bought some rbs this morning too, will buy more it falls back.

 

[marben]

good afternnon mark and everyone,

...pru was a quick punt and closed it in auction so was a quick loss as well a penny and a half... .

...scalpers

 

[marben]

ULVR...personally I would avoid this like the plague! Gives me an idea though, take postions both ways!

The brokers'll love you!

Well ULVR is off my radar for now. I suspect it'll present a super shorting opportunity (for swing trading, not scalping) in the not too distant future though. Weekly MACD is way, way high. The tricky bit will be catching the right entry. I shall keep studying the charts and poking through the news entrails

Good trading!

Mark

 

[khi]

ezj is taking off!!!!!!!!!!

 

[khi]

closed ezj, mmm, will get back in

 

[barjon]

something for the weekend

Are the banks coming or going? OR The risks of trading across results? OR The need for confirmation?

Need to do this in two posts to cope with charts, so the first three:

barc

In uptrend and the assumed -but false - swing low triggered an entry (not if you favour eod close confirmation) only to be stopped out (not if you favour eod clsoe confirmation) the day before results - which created a new assumed swing low - only to see a 20 point gap opening the next day. That gap opening would have precluded an entry via the new swing low. All very messy - like to see it well clear of 585 and then would be looking for a retracement to give a long entry.

hbos

In uptrend and the assumed - but false - swing low triggered an entry (not if you favour eod confirmation) only to be stopped out (not if you favour eod confirmation) near results day. The new assumed swing low triggered an entry the day before results and that is progressing nicely although 903 needs to be left behind before it falters significantly.

hsba

In uptrend. The assumed swing low formed the day before results day triggered an entry on results day which is losing but holding above stoploss.


nb: I generally don't trade with results nearby so I did not take any of these entries

On to part II

 

[barjon]

part II

lloy

In uptrend and the assumed - but false - swing low triggered an entry (but not if you favour eod confirmation) which was stopped out (but not if you favour eod confirmation) on results day which formed a new assumed swing low and you might have taken the entry triggered despite the small gap opening. If you had you'd be slightly adrift and wanting to see a fairly quick move north or you might call it quits without waiting for stoploss to trigger.

rbs

Was in uptrend and there were two assumed swing lows which turned out to be false. Once again no entry would have triggered if you favour eod confirmation but the stops would have triggered. With the price now below the early July swing low the trend has changed to down and I'll be thinking short after a bounce if an appropriate trigger arises

stan

In uptrend and a straightforward swing low which triggered an entry although the price is now below entry point. Results on Monday so we wait and see. This is the only one of all these that I did take a nibble at, but I'm out because I don't want to chance results day.

All in all, a pretty interesting group where future direction should become clear fairly quickly and where different techniques would have made you money despite the messy action and where that action shows up the added risks of trading through the results.

Good trading all.

jon