Active day and swing traders

[Euro_d]

Morning all, hope you are all well and concentrating?
Had a hectic start to the day.
Opened:
SPT @ 54.5, 5 MA turning up above 20MA MACD slightly + but Bolls look weak, anyway I am in!
Got CW on the radar (again) but want to see 151 held before I go in, maybe later.
UKX if we break 5349

Still in:
CNE, had a hectic time this morning as we had almost a 60point spread (d4f), cancelled my SL to stay in. now stable and slightly in profit. Who was it that said that overnight stops should be slackened?
AGS moving nicely
IRV flat, this is getting boring, I might just close it flat!

Good trading
Dave

 

[barjon]

mornin' dave

nothing for me, still just ticking along with bg and emg

my grandson's STILL sitting with hsba and maybe he'll get something of a bounce soon. in some ways i hope it's not too big a bounce (if it comes) - when his father was his age i warned him of the perils of gambling on fruit machines on a cross channel ferry when i gave him his holiday spending money - he won the jackpot first go so the lesson took a few more years to bite

good trading

jon

 

[Euro_d]

Interesting to see you are still in BG, I took the small crust of a profit and ran. I must admit the chart looks slightly bullish.
I understand your story of your grandson, sods law. I think we have all been there!
It is a similar story when mine was with me a few weeks ago and I was trying to teach him some golf. I toid him his grip was wrong. Ooops, he ignored me and performed well!

on another subject I am in UKX but I must admit I feel a little foolish. The DAX is normally easier to read and I have not traded it for a while. Must get back to studying it!

 

[marben]

'afternoon all,

Closed CPI long @ 371.6 for a small profit. Opened @ 368 on 15/8.

After rechecking weekly MACD, established that buy signal was weak. Decided to get out around daily stochastic high - price fell below yesterday's low today, so took what profits I could before possible further fallback.

Good trading,

Mark

 

[mickandpete]

Barjon
Uncanny that story about son/cross channel ferry/fruit machine
I had exactly the same experience
250 pound coins stuffed into every pocket available after dire warnings of % return from machine
Is there a trend here

 

[barjon]

mickandpete



trend? dunno, be interesting to know how many traders started with a bang only to finish (at least for a time) with a whimper as opposed to those who started with a whimper...........

good trading

jon

 

[bracke]

mickandpete



trend? dunno, be interesting to know how many traders started with a bang only to finish (at least for a time) with a whimper as opposed to those who started with a whimper...........

good trading

jon

Oh Mighty barjon

Yes, I started with a bang several years ago, thought trading was easy, and then the market took its revenge! Whimper,whimper.

But bracke does not like being beaten, so much learning and analysis later he's back for another try.

As you know I am not a day trader but I would like to thank you for the charts you post as some of them are candidates for my trading strategy eti being one.

Regards

bracke

 

[Euro_d]

Bangs and wimpers

Sorry guys could not resist that!!
Me?
I started over 20 years ago playing (then career took preference) with penny shares.
Realised that was not for me and remain of the same opinion of anything but very liquid stocks and indices.
Learned a lot about options and then tech analysis, all the while playing.

Due to setting up my project management consultancy (and the income from that) I really did not take part in the late 90's bang.
Now I work from home most of the time providing PM and expert witness services. Gives me plenty of time to trade.
I think I have posted that the first 3 months of this year were super good then I started having a string of losing trades. Reduced my stakes dramatically and re-visited what I was doing.
Well, July, Aug and so far this month have been significantly better.
I think I have at last learned that there is no one strategy or indicator that is good all the time. One has to look at several indicators and look for confirmations, I think that is the trick.
Personally I trade short term on stocks and intra day on indices.
I use MACD, Boll and related EMA's. I also use Camarilla pivots for the indices in conjunction with short MACD.
Well, market is quiet so that is my life story.

 

[Euro_d]

Morning all, another hectic start to the day, great!
OK,
Opened:
STAN @ 1229 which I have to say I am not entirely comfortable with. Entered on break of 5MA and 5MA above 20MA BUT not looking good on MACD hence half stake. Still it is up 12 as I write!
SXS @ 582 Now that looks altogether better, MACD & Boll turnig up steady upturn in 5 & 20MA
KEL @ 721. same comments as SXS except that it is above both the short and long term trend channels.

Still in:
CNE flat
AGS SL in profit zone. sit back on this one
SPT moving slowly SL still below break even.

UKX popped at the open as a wall street reaction but I see nothing interesting unless we see a confirmed rise above '74
DAX I want to see 5000 well and truely broken, I hate these pseudo resistance levels
Good trading

 

[barjon]

mornin'

still just ticking along - bg holding above stop-close for the moment, probably lock in some emg if it stages a retreat later.

short levels on pru and aal now at around 508 and 1415 respectively but that's not looking likely for now.

good trading

jon

 

[marben]

mornin'

still just ticking along - bg holding above stop-close for the moment, probably lock in some emg if it stages a retreat later.

short levels on pru and aal now at around 508 and 1415 respectively but that's not looking likely for now.

good trading

jon

Good morning Jon et al,

Hope you get your long profit on EMG soon . My EMG short is uncomfortably close to it's stop!

Remain short EMG, ULVR; long SBRY(50%). I'm watching RSA for a possible short but entry doesn't look likely today. My signals suggest a reversal of the uptrend that stared early June: lower MACD peak (though only slightly), accompanied by higher prices. Daily stochastic is heading towards a top & Elder Force Index is positive (indicating a fall may be imminent).

What are the alternative views on RSA?

Regards,

Mark

 

[barjon]

mark

won't surprise you that i'd be looking the other way for rsa although it's not in my stable.

did you ever get a stronger signal on eti - going great guns this morning so far.

it's not like you to be looking for alternative views - hope that's got nothing to do with how you're feeling at the moment, nor that whatever we bggrs say make a jot of difference

good trading

jon

 

[marben]

Hi Jon,

Re ETI, I realised after my post that I'd made a mistake in my analysis: rechecking the weekly chart, a lower weekly MACD high actually indicated a possible reversal, so this was no longer one to go long on for me.

Don't mind the rise, though, as I have a long term investment in the company

Regards,

Mark

 

[marben]

mark
..it's not like you to be looking for alternative views - hope that's got nothing to do with how you're feeling at the moment, nor that whatever we bggrs say make a jot of difference..

Correct on all counts :cheesy: Just wondering really. If my trades continue to not be working, it may be wise to reduce my trade size until I'm satisfied that my tactics are working. I may look at entering trades at half size and moving to full size once the trade has remained in profit for a day, with a tight stop on the extra 50%. This may be a good tactic anyway.

Cheers,

Mark

 

[Splitlink]

I'm quite disgusted with myself. I shorted EMA at 813.7 and put a limit on to buy at 799 for the afternoon. Last night I saw that I was still in and removed the limit order ( being greedy and hoping for more) and this morning I could have got out at 804 then, slowly but surely, up it started to creep and I still had not closed at 817.
Now it is around 815 and I may close it before I go out- I'll decide in an hour.

They say that confession is good for the soul. The problem is that I think that this is a good entry point for a sell at 821so I may decide to hold it....

Index is flat today and, although some good profits have been made in longs I don't think that it is safe to go diving in. I'm going to wait until tomorrow and see if some shares fall back.

Split

 

[Euro_d]

Hi Mark,
I would have replied earlier but had an IT problem, computer died as I tried to print the chart!
Technology!!!!!!

Anyway, my take for what its worth.
Historically it is a 650 stock, but has lost its way, seems there is some resistance around 120/130 ish.
Shorter term (my thing) I cannot see anything that would tempt me. Look at MACD and also the trend line, sorry, it is not too clear. If we got a break of that lower trend line say a break above 95 and a more positive MACD picture then I would be with you.

RE the subject of half trades, I did just that in the late spring as I had a long run of flat and negative trades. I had a good re-look at what I was doing. I do not think it is a good idea to stop trading.
Regarding adding to positions, I do not as i trade short term but I do know that there is a philosophy that promotes this idea.

Best of luck
Dave

 

[2 blankets]

hi guys looking to exchange views on trading still a bit of a novis but egar to learn so bear with me if i ask a stupid question,i av a fins acc and iam long prty 109 sl95 short sly 604 sl 624 which i av had for a week now and short rio 1944 sl 2000........ for the time being the max i trade is £2 a point , but in the future will trade with a lot bigger stake but not till i learn a lot more charting etc ....... bob

 

[marben]

Welcome Bob & good trading!

 

[Euro_d]

Yes Bob, welcome.
I too have a Finspreads account and rarely use it. Reason is I dont like their spreads and they (like IG) do not honour their stops unless you pay even more for controlled risk. Wat prices carefully and exit manually.
There is a lot of sense in trading small until you have the confidence and built the bank. On here we dont talk too much about money management as I think we all practice some strict rules.
I have a set of rules that I stick rigidly to, based on spread, price, stop, and % of the bank. That way I always risk the same amount on each trade. PM me if you want the formula.

Finally, feel free to ask away, no question is stupid and we are a small but active crowd here.
Also use the search function as there is a wealth of info on these boards. Well, interspersed with a lot of crap too!

Good luck and welcome
Dave

 

[marben]

Closed remaining 50% of my SBRY long trade @ 285.5 for a small profit (very small after financing). Opened @ 283.5 on 10/8. Price hadn't really gone anywhere & was approaching daily stochastic peak, so grabbed a profit after a nice price pop in the last 15mins of trading.