Stopped out of AAL trade @ 1639 - tight stop ensured litte damage done. price is now back well within gap that formed at the open 2 days ago, so further pullback seems likely.
Will put this one on-hold, for now, until/unless daily charts suggest resumption of uptrend probable.
Will put this one on-hold, for now, until/unless daily charts suggest resumption of uptrend probable.
Seems logical that things are more or less flat today after yesterday.
As of now I shall probably be quiet, certainly tomorrow morning. Got the stress of technicians coming to change computer systems, also changing my internet provider. Should be cheaper and faster. Prior to that lots of wires and techies around so little if any trading!
Good trading to all, back with a vengeance Thursday, I will pop in here to see how things are going,
Dave
As of now I shall probably be quiet, certainly tomorrow morning. Got the stress of technicians coming to change computer systems, also changing my internet provider. Should be cheaper and faster. Prior to that lots of wires and techies around so little if any trading!
Good trading to all, back with a vengeance Thursday, I will pop in here to see how things are going,
Dave
'afternoon all,
Seems like everyone's away today. Miners are puting on a bit of a stunning performance today. Glad I'm in RIO - shame I didn't stick with AAL! Projection of the current trend suggests that RIO should get to around 2500 within the next 10 days or so.
Good trading,
Mark
Seems like everyone's away today. Miners are puting on a bit of a stunning performance today. Glad I'm in RIO - shame I didn't stick with AAL! Projection of the current trend suggests that RIO should get to around 2500 within the next 10 days or so.
Good trading,
Mark
'morning all,
Funnily enough, just gone long ULVR @ 596. Looking for upside breakout today from recent 3 day trading range. Will exit trade again if it fails to materialise.
Current position (all long): BOC, CBRY, GSK, IPR (50% trade remaining), RIO, SPW, ULVR
Good trading,
Mark
Funnily enough, just gone long ULVR @ 596. Looking for upside breakout today from recent 3 day trading range. Will exit trade again if it fails to materialise.
Current position (all long): BOC, CBRY, GSK, IPR (50% trade remaining), RIO, SPW, ULVR
Good trading,
Mark
Morning all,
Back with you via a new ISP and other bits that the techies fixed very efficiently yesterday and this morning. Stress of that is a bit like moving, eh?
OK, back to business:
I entered CNA yesterday and CTM today and remain long in:
RR, 10 points in the bag
GKN, 9 points +
IOT minor +
MGCR 6 points +
BWNG 3 -
Now I must remember not to put my stops too tight!!! Repeat 50 times.
For all you LLOY fans, if I did not have so many positions open I would have a small long on them too. Charts now look positive
Good trading to all
Dave
Back with you via a new ISP and other bits that the techies fixed very efficiently yesterday and this morning. Stress of that is a bit like moving, eh?
OK, back to business:
I entered CNA yesterday and CTM today and remain long in:
RR, 10 points in the bag
GKN, 9 points +
IOT minor +
MGCR 6 points +
BWNG 3 -
Now I must remember not to put my stops too tight!!! Repeat 50 times.
For all you LLOY fans, if I did not have so many positions open I would have a small long on them too. Charts now look positive
Good trading to all
Dave
Hi Split,
Well, I'm trying out some new trading methods, using very tight tactics to try to find good intraday entries. this may involve several attempts.
E.G. I've been looking @ BG today. Tried a long entry @ 530.5. That failed @ 529. But tried again @ 531.5 & that's looking solid. Unless there's a collapse later today, I expect I'll then be sticking with this one I.e. will then apply a much looser stop, allowing this trade to develop in line with a long term uptrend I perceive, over a few weeks if all is well.
I'll need some time to discover whether these new tactics are producing decent results or not but OK so far.
ULVR not approach my entry level, so that's off my radar for the rest of today.
Good trading!
Mark
Well, I'm trying out some new trading methods, using very tight tactics to try to find good intraday entries. this may involve several attempts.
E.G. I've been looking @ BG today. Tried a long entry @ 530.5. That failed @ 529. But tried again @ 531.5 & that's looking solid. Unless there's a collapse later today, I expect I'll then be sticking with this one I.e. will then apply a much looser stop, allowing this trade to develop in line with a long term uptrend I perceive, over a few weeks if all is well.
I'll need some time to discover whether these new tactics are producing decent results or not but OK so far.
ULVR not approach my entry level, so that's off my radar for the rest of today.
Good trading!
Mark
Hey Mark & Split,
I hope I am not contaminating you both with my aggressive intraday stuff! That is only for indices!
On my equities I use a 3% opening or support or Fib stop.
Read my waffling on tight stops and how they have cost me dear!
Good luck, sorry, luck doesn't come into it, good trading.
Tomorrow, I will update my success and failings for September, not pretty but at least in the money!
Golf calls,
Dave
I hope I am not contaminating you both with my aggressive intraday stuff! That is only for indices!
On my equities I use a 3% opening or support or Fib stop.
Read my waffling on tight stops and how they have cost me dear!
Good luck, sorry, luck doesn't come into it, good trading.
Tomorrow, I will update my success and failings for September, not pretty but at least in the money!
Golf calls,
Dave
Hi Dave,Euro_d said:
No worries, the intraday stuff for me is primarily for long term trade entries/exits
However, I'm making an exception with RIO today. The extreme volatility is giving me a chance to practice my tactics: there seem to be some clear intraday support & resistance levels with ths one, so I'm using the overall uptrend to try to find support levels to buy at. Meanwhile I'm leaving my long term long on that stock running.
At COB will list what I did & what happened.
BTW I presume you restrict your day-trading to indexes because individual stocks don't usually have enough trading/volatility to make it worthwhile/effective? I think it can work though as well with "whopper" stocks where the herd really is charging to & fro throughout the day.
Cheers,
Mark
Well, here's what happened on the RIO day-trading front:
Bought @ 2318, when today's sharp fall seemed to be running out of steam: it hadn't, so stopped out @ 2310.
Tried again @ 2293: moved above next resistance, so moved stop to B/E: stopped out @ B/E: shouldn't have moved it!
Entered again @ 2304 & closed just before COB @ 2311.
So all, in all pretty much B/E. Educational though. Support & resistance zones I identified seemed about right but should have allowed the trade to move up through TWO zones before tightening stop. Did this successfully on 3rd trade.
Shame I wasn't prepared to let it run overnight (or able to participate in closing auction - that's where CFDs with DMA do come into their own) - closing price is 2318. Still, the long-term RIO trade is still running & 33 points in profit at the close.
'evenin' all!
Mark
Bought @ 2318, when today's sharp fall seemed to be running out of steam: it hadn't, so stopped out @ 2310.
Tried again @ 2293: moved above next resistance, so moved stop to B/E: stopped out @ B/E: shouldn't have moved it!
Entered again @ 2304 & closed just before COB @ 2311.
So all, in all pretty much B/E. Educational though. Support & resistance zones I identified seemed about right but should have allowed the trade to move up through TWO zones before tightening stop. Did this successfully on 3rd trade.
Shame I wasn't prepared to let it run overnight (or able to participate in closing auction - that's where CFDs with DMA do come into their own) - closing price is 2318. Still, the long-term RIO trade is still running & 33 points in profit at the close.
'evenin' all!
Mark
Yes Mark, I trade indices intraday purely as there are frequently huge moves.
Take today for example, note I did not trade as I was slightly nervous of my new ISP's systems stability, actually should not have worried as everything is just fine.
Of course hindsight is a wonderful thing but anyway!
UKX:
Resistance around 5505 support 5480 both are either entry points if crossed (significantly) or contra trades if other factors indicate.
Opened slightly down (I dont normally trade for the first 15 mins or so) then swiftly moved up to 5506 and then fell to 5465. Entry would have been (short) on change of direction at around 5500 on its way down to 5470 where it paused for breath before a further fall to 5465, I would not have got the last 5 points but hey 30 points is not bad!
Today there were no other signals to trade so I would have left it alone.
DAX moves are even stronger!
Just out of interest I have applied the strategy to RIO and that showed a short at 2375 to about 28. Again like the FTSE I would ot have got the further fall to 2290 but even so 45 odd points is well worth having!
So, following your observations I will check out some of the very large caps intraday, might just be profitable?
Finally my CNA trade was a dud, fell to hit the initial stop and closed out at 243. loss of 9.5 points. Ah well cant win em all.
MGCR also failed to hold on to its gains and fell back to stop @ +1 point.
Good evening to all
Dave
Take today for example, note I did not trade as I was slightly nervous of my new ISP's systems stability, actually should not have worried as everything is just fine.
Of course hindsight is a wonderful thing but anyway!
UKX:
Resistance around 5505 support 5480 both are either entry points if crossed (significantly) or contra trades if other factors indicate.
Opened slightly down (I dont normally trade for the first 15 mins or so) then swiftly moved up to 5506 and then fell to 5465. Entry would have been (short) on change of direction at around 5500 on its way down to 5470 where it paused for breath before a further fall to 5465, I would not have got the last 5 points but hey 30 points is not bad!
Today there were no other signals to trade so I would have left it alone.
DAX moves are even stronger!
Just out of interest I have applied the strategy to RIO and that showed a short at 2375 to about 28. Again like the FTSE I would ot have got the further fall to 2290 but even so 45 odd points is well worth having!
So, following your observations I will check out some of the very large caps intraday, might just be profitable?
Finally my CNA trade was a dud, fell to hit the initial stop and closed out at 243. loss of 9.5 points. Ah well cant win em all.
MGCR also failed to hold on to its gains and fell back to stop @ +1 point.
Good evening to all
Dave
Hi Dave,Euro_d said:
Must admit I think yesterday & today's action on RIO was exceptional. As we're traders though, when you spot an opportunity you might as well trade it in whatever timeframe the opportunity applies to.
The art, of course, is knowing what's a real opportunity & what isn't!
Cheers,
Mark
