Morning all,
busy morning as it is close of month and I have been evaluating how I did in September.
I had 27 trades of which 4 are carried over to October, still open.
RR bought @ 363 current 372 stop 364
GKN bought @ 283 current 297 stop 290
BWNG bought @ 156 current 148 stop 143
CTM bought @ 60.75 current 60.75 stop 57.5
Of those closed I made a net profit of 110 points.
However, 12 were closed too early.
As I elaborated in an earlier post, all those were emotional closes (all be it in profit) as I moved the stop too close too quickly!
As I said, I am revising my strategy to enforce stops to what I know is right. Anything from 3% opening to trend line supports and Fib retracements.
Also, I am evaluating a new (to me) real time feed. The same company that supplies the charts to D4F. So far it seems a very real competitor to Trade Station.
Therefore, I will probably be quiet for the next few days, certainly today (so you can all breath a sigh of relief) I have no current potential swing positions on the horizon.
Good trading to all
Dave
busy morning as it is close of month and I have been evaluating how I did in September.
I had 27 trades of which 4 are carried over to October, still open.
RR bought @ 363 current 372 stop 364
GKN bought @ 283 current 297 stop 290
BWNG bought @ 156 current 148 stop 143
CTM bought @ 60.75 current 60.75 stop 57.5
Of those closed I made a net profit of 110 points.
However, 12 were closed too early.
As I elaborated in an earlier post, all those were emotional closes (all be it in profit) as I moved the stop too close too quickly!
As I said, I am revising my strategy to enforce stops to what I know is right. Anything from 3% opening to trend line supports and Fib retracements.
Also, I am evaluating a new (to me) real time feed. The same company that supplies the charts to D4F. So far it seems a very real competitor to Trade Station.
Therefore, I will probably be quiet for the next few days, certainly today (so you can all breath a sigh of relief) I have no current potential swing positions on the horizon.
Good trading to all
Dave
'morning all,
Also busy for me. Looks like a pretty bullish start to the month. Opened longs in BP @ 674, SMIN @ 962.75, REX (again) @ 517, RR @ 372.75.
Current position: longs in BG., BP., GSK, IPR, REX, RIO, RR., SMIN, SPW, YELL; short KGF.
Slightly worrying to have so many open positions again but indications for this month seem pretty positive, so they're what's currently dictated. I'll be interested to see how all of this works out.
Good trading!
Mark
Also busy for me. Looks like a pretty bullish start to the month. Opened longs in BP @ 674, SMIN @ 962.75, REX (again) @ 517, RR @ 372.75.
Current position: longs in BG., BP., GSK, IPR, REX, RIO, RR., SMIN, SPW, YELL; short KGF.
Slightly worrying to have so many open positions again but indications for this month seem pretty positive, so they're what's currently dictated. I'll be interested to see how all of this works out.
Good trading!
Mark
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Well, seems like the bull is in full effect today 
. Having another go at the RIO long day-trade, @2287: looks like the price hs bottommed out. Expecting a bounce as US markets open. I'll be straight out if that doen't happen, or it continues to drift lower.
Cheers,
Mark
. Having another go at the RIO long day-trade, @2287: looks like the price hs bottommed out. Expecting a bounce as US markets open. I'll be straight out if that doen't happen, or it continues to drift lower.Cheers,
Mark
Good afternoon all,
OK am back with you or more correctly, with the markets. I have been playing with a new datafeed/TA software package. The same as used on D4F but much more sophisticated than on the D4F platform. I am not know for being free with praise but after a couple of days I am impressed!
If anyone is interested in my findings PM me as I do not want to post here off subject!
Mark,
you are playing with intraday trades, good luck but be careful, I too have been bitten by the bug (equities and indices) but it is not for the faint hearted! I have actually been looking at RIO and other large caps as day trades and playing it on paper: I have looked at several indicator combinations and can see that there is certainly scope to extract a few points.
I remain long in RR tighten stop to 375 as I think the bulls are running out of steam and at that level I lock in 15 points.
GKN remains with a relative slack stop but locks in a minor profit, I see this as continuing.
BWNG and CTM remain stuborn and have not moved since opening the trade, the former actually dropped and now is stable.
Good trading to all
Dave
OK am back with you or more correctly, with the markets. I have been playing with a new datafeed/TA software package. The same as used on D4F but much more sophisticated than on the D4F platform. I am not know for being free with praise but after a couple of days I am impressed!
If anyone is interested in my findings PM me as I do not want to post here off subject!
Mark,
you are playing with intraday trades, good luck but be careful, I too have been bitten by the bug (equities and indices) but it is not for the faint hearted! I have actually been looking at RIO and other large caps as day trades and playing it on paper: I have looked at several indicator combinations and can see that there is certainly scope to extract a few points.
I remain long in RR tighten stop to 375 as I think the bulls are running out of steam and at that level I lock in 15 points.
GKN remains with a relative slack stop but locks in a minor profit, I see this as continuing.
BWNG and CTM remain stuborn and have not moved since opening the trade, the former actually dropped and now is stable.
Good trading to all
Dave
Hi Dave et al,
I don't expect that the intraday stuff will be a big feature of my trading but, as I'm sure you've observed, when studying some of the big caps closely opportunities do arise.
I use an ultratight stop with these, so maximum loss is v. limited but gains can be large. Must admit I mucked it up a bit this morning - lost 10pts before being stopped out on RIO trade. There was one contra-indication when I entered (shortening up pulses) which I shouldn't have ignored. Still, I'm up on the recent intraday stuff overall.
The pattern of movements in RIO is clearly different today from the last 3 days and I suspect an upside breakout is coming at some time today - but it could also break the other way! Might have another go later if I get strongly positive indications, again with a tight stop so maximum losses are strictly limited. If it breaks below 2290 and then moves back above 2295, I reckon that'd be v. bullish.
On RR, I'm long on that too (entered yesterday). The reason I entered is that it looks to me like the sharp upturn that began this May still has some way to go (based on length of previous move). I'm expecting it to reach 400p+ within 6 weeks. You could well be right and there could be a pullback today or tomorrow but I reckon it's going to be temporary rather than a change of trend direction. My stop remains @ 367. If that is breached, then the trend could well be breaking down, as you suspect.
Not sure whether today's Jewish holiday will impact US markets negatively (with a number of traders being away). I'd certainly expect volume to be lower over there.
Good trading!
Mark
I don't expect that the intraday stuff will be a big feature of my trading but, as I'm sure you've observed, when studying some of the big caps closely opportunities do arise.
I use an ultratight stop with these, so maximum loss is v. limited but gains can be large. Must admit I mucked it up a bit this morning - lost 10pts before being stopped out on RIO trade. There was one contra-indication when I entered (shortening up pulses) which I shouldn't have ignored. Still, I'm up on the recent intraday stuff overall.
The pattern of movements in RIO is clearly different today from the last 3 days and I suspect an upside breakout is coming at some time today - but it could also break the other way! Might have another go later if I get strongly positive indications, again with a tight stop so maximum losses are strictly limited. If it breaks below 2290 and then moves back above 2295, I reckon that'd be v. bullish.
On RR, I'm long on that too (entered yesterday). The reason I entered is that it looks to me like the sharp upturn that began this May still has some way to go (based on length of previous move). I'm expecting it to reach 400p+ within 6 weeks. You could well be right and there could be a pullback today or tomorrow but I reckon it's going to be temporary rather than a change of trend direction. My stop remains @ 367. If that is breached, then the trend could well be breaking down, as you suspect.
Not sure whether today's Jewish holiday will impact US markets negatively (with a number of traders being away). I'd certainly expect volume to be lower over there.
Good trading!
Mark
Well, RIO day-trade went rather sweetly. Stopped out in profit @ 2308, so a net 3pts up on the two trades today.
Disappointingly also stopped out of BP trade @ 655, opened yesterday @ 674. Most other positions doing very nicely thank you :
Long REX, GSK, IPR, RIO, SPW, BG., RR., SMIN, YELL; Short KGF
Cheers,
Mark
Disappointingly also stopped out of BP trade @ 655, opened yesterday @ 674. Most other positions doing very nicely thank you
:Long REX, GSK, IPR, RIO, SPW, BG., RR., SMIN, YELL; Short KGF
Cheers,
Mark
'morning all,
Bit of a mini-crash this morning, folowing sharp drop in USA last night. Strongly suspect market will remain weak until US opens this afternoon, I think there could well be a recovery then [NY traders back from day off].
Anyway, added AAL to my longs @ 1620. was on my watch list, fell v sharply this morning but seems to be recovering. This price is below my planned stop level, so set a tight stop limiting losses in the event of a further fall.
BTW it's been v quiet on here these last few days, apart from Dave & me. Has everyone else given up posting?
Good trading all,
Mark
Bit of a mini-crash this morning, folowing sharp drop in USA last night. Strongly suspect market will remain weak until US opens this afternoon, I think there could well be a recovery then [NY traders back from day off].Anyway, added AAL to my longs @ 1620. was on my watch list, fell v sharply this morning but seems to be recovering. This price is below my planned stop level, so set a tight stop limiting losses in the event of a further fall.
BTW it's been v quiet on here these last few days, apart from Dave & me. Has everyone else given up posting?
Good trading all,
Mark
Morning Mark and anyone else who is interested.
I think we have scared them all away with our forays into day trading!
My 4 open positions RR, BWNG, GKN & CTM held up well during the mornings sell off. I notice that the DAX has attempted a bounce back but it looks weak and the FTSE remains with its 50 points fall, ouch.
I tend to agree that the UK will probably remain weak until the US opens, lets see.
I have CNA on my radar (sorry, must stop using Trade station terms!) but am waiting for some indication of direction change, I am bullish but want to see some signs!
FYI, I use a market scanner to look for supertrend, MACD crosses and trendline breaks on a 5 minute chart to pick my intraday trades, new for me so essentially papertrading but the signs are encouraging.
Good trading
Dave
I think we have scared them all away with our forays into day trading!
My 4 open positions RR, BWNG, GKN & CTM held up well during the mornings sell off. I notice that the DAX has attempted a bounce back but it looks weak and the FTSE remains with its 50 points fall, ouch.
I tend to agree that the UK will probably remain weak until the US opens, lets see.
I have CNA on my radar (sorry, must stop using Trade station terms!) but am waiting for some indication of direction change, I am bullish but want to see some signs!
FYI, I use a market scanner to look for supertrend, MACD crosses and trendline breaks on a 5 minute chart to pick my intraday trades, new for me so essentially papertrading but the signs are encouraging.
Good trading
Dave
Hi Dave et al,
Stopped out of BG. long @ 515. Originally opened @ 532 on 29/9.
Took 50% profits on GSK long @ 1453 as risk of a pullback looks significant after a good run. Originally opened @ 1424 on 26/9. Stop moved to B/E for rest of this trade.
So, current position is:
Long AAL, GSK (50%), IPR (50%), REX, RIO, RR, SMIN, SPW, YELL. Short KGF
Cheers,
Mark
Stopped out of BG. long @ 515. Originally opened @ 532 on 29/9.
Took 50% profits on GSK long @ 1453 as risk of a pullback looks significant after a good run. Originally opened @ 1424 on 26/9. Stop moved to B/E for rest of this trade.
So, current position is:
Long AAL, GSK (50%), IPR (50%), REX, RIO, RR, SMIN, SPW, YELL. Short KGF
Cheers,
Mark
Welcome Nelz,
I've been watching BLT for a position trade myself. I've got it on hold for now as it looks rather risky - gone below a support at 890 & now dropped further. Personally, I'm waiting for some signs of a recovery before entering - but do stick to your own trading rules & don't let us influence you too much here.
What timeframe are you trading in?
Cheers,
Mark
I've been watching BLT for a position trade myself. I've got it on hold for now as it looks rather risky - gone below a support at 890 & now dropped further. Personally, I'm waiting for some signs of a recovery before entering - but do stick to your own trading rules & don't let us influence you too much here.
What timeframe are you trading in?
Cheers,
Mark
Hi Mark,
I am currently playing the December futures. My time frame is Short to Medium.
I have been watching RIO as well but yesterday was confusing becasue it normally follows Billiton but was o the opposite yesterday.
What price would you say would be a good buy price for BLT. Is there profit taking going on at the moment.
Pete
(thanks for your reply)
I am currently playing the December futures. My time frame is Short to Medium.
I have been watching RIO as well but yesterday was confusing becasue it normally follows Billiton but was o the opposite yesterday.
What price would you say would be a good buy price for BLT. Is there profit taking going on at the moment.
Pete
(thanks for your reply)
Hi Pete,
I shan't attempt to offer any advice on prices etc [don't want to take the blame if it all goes horribly wrong!]
There are a number of factors that I think may be depressing prices of miners at the moment
1. Herd instinct of the market: the price has fallen a bit, bulls get scared, triggering further falls.
2. There's a holiday in China this week, which I understand has led to less metals trading volume than usual and may have depressed commodity prices.
3. Oil price has dropped sharply this week on rumours (which I don't believe) of future short term oversupply, this has had a knock on effect on commodity prices generally.
4. Poor results from Lexmark & another US firm are claimed to have depressed the US market generally yesterday.
5. It's a Jewish holiday at the moment which may well mean that some NY traders are off work.
To be honest, though, these "explanations" are not particularly significant. [there's nothing in there that I think has any "fundamental" impact on future prices]. It's best to read what's happening from the charts. Price movements reflect market sentiment and it's that sentiment and its evolution that we're all trying the read when trading.
With BLT you need to look for signs that the bears have had enough as a good entry to go long (as long as you think it's still in an uptrend). What price to enter at depends on how far it falls!
Good trading!
Mark
I shan't attempt to offer any advice on prices etc [don't want to take the blame if it all goes horribly wrong!]
There are a number of factors that I think may be depressing prices of miners at the moment
1. Herd instinct of the market: the price has fallen a bit, bulls get scared, triggering further falls.
2. There's a holiday in China this week, which I understand has led to less metals trading volume than usual and may have depressed commodity prices.
3. Oil price has dropped sharply this week on rumours (which I don't believe) of future short term oversupply, this has had a knock on effect on commodity prices generally.
4. Poor results from Lexmark & another US firm are claimed to have depressed the US market generally yesterday.
5. It's a Jewish holiday at the moment which may well mean that some NY traders are off work.
To be honest, though, these "explanations" are not particularly significant. [there's nothing in there that I think has any "fundamental" impact on future prices]. It's best to read what's happening from the charts. Price movements reflect market sentiment and it's that sentiment and its evolution that we're all trying the read when trading.
With BLT you need to look for signs that the bears have had enough as a good entry to go long (as long as you think it's still in an uptrend). What price to enter at depends on how far it falls!
Good trading!
Mark
