Diary of a swing spread better

[chindl]

Nothing doing for me today so far - ADVFN not getting through at work. Prob not much to be missed anyhow ahead of the decision.
The FX did not work today, two false signals. Doesn't seem to like Cable at all, too volatile maybe. Will try and post something if I get the opportunity. Basically reversed yesterdays gain, but it was two losses to the one gain yesterday that leave the system level.
Chris

 

[chindl]

Is this the quietest morning of the calendar, the morning of the Fed decision at the start of the holiday season?

 

[Slapshot]

Managed to catch the fall yesterday from 11195 through to 10am this morning when I closed out for +150. Off on hols tomorrow so I'll be leaving things alone for a while on my longer time frame setup.

Interesting day today. We had the drop when the news started to break on the security probs in the uk and then the rebound. This was very similar to the action on the 7th July last year. Got a couple of 1min chart trades in today and so far I'm +30. That should just about see me off.

Chris, El, have you traded today?

Has anyone heard from Hung?

Hung, if you're out there hope you're having a great time.

 

[Vaco]

no dow trades today, entries missed at the top and the bottom by 10 pts each side, very frustrating,

well done on the big gain slap.

 

[Slapshot]

no dow trades today, entries missed at the top and the bottom by 10 pts each side, very frustrating,

well done on the big gain slap.

Thanks.

The system is still very much in its infancy with some trades reversing and stopping out in range bound markets such as we've had recently, but when the moves do happen it picks them up. The entries might need a bit of tweaking but so far I'm quite happy.

Don't worry too much about missing your entries, there will always be plenty of opportunities just around the corner

 

[chindl]

Slaps - not traded, too much work on at the moment. Trying an FX strat as well, seems to be working pending some tweaks on targets. I've had four of the ten trades go against me, two of which were just 4 pips from target.

Anyway, well done on your couple of days work, you can have a beer on that on yer trolleys mate!!! Have a good break, hope you took the sensible option of a caravan down in Brean Sands with the rest of those Brummies!!! I've been there, it was full of em, had a brummie girlfriend once you see!!!

Chris

 

[Slapshot]

Anyway, well done on your couple of days work, you can have a beer on that on yer trolleys mate!!! Have a good break, hope you took the sensible option of a caravan down in Brean Sands with the rest of those Brummies!!! I've been there, it was full of em, had a brummie girlfriend once you see!!!

Chris

I'm a fan of Top Gear and Brainiac so you should be able to guess my views on caravans....(que abuse from caravan owners )

 

[chindl]

OK - the strategy I'm working on for Forex does not work on Cable. I would go as far as to say that Cable should be the evil mentally unstable volatile wizard in the next Harry Potter book that finally does for the teenage wizard!!!!! I'm gonna look at something else for cable if I should ever choose to ride this monster!!!
So far, the Yen pairings are showing the best results, followed by cables more kindly aunt, the €ur!
Chris
Still no sign of the Hung, he must be having a whale of a time on the back of the license payers!!!

 

[chindl]

This is the twilight zone! Nobodies home at present!

 

[rehaan]

Hi i am recently new to swing trading and am currently researching stocks to see which are best to swing trade. any ideas?

thanks

 

[chindl]

Sorry Rehaan - not my area of expertise. I'm afraid in all likelihood you will need to do your own research, go to websties like Mr Swing or check out Pro Real Time and do some research, they have free EOD data that allows you to manipulate and screen their data. It's not that people are reluctant to provide information, it's that we're all kinda busy doing our own research and identifying our set ups etc.
As for my trading, been slow for me, working on a few things and generally getting the equilibrium of the grey matter back in check. Starting to feel refreshed, but work is a real toll on my time at the moment, so one eye only on the market, which is not conducive to good trading decisions so sat watching from the sidelines. I'm also gonna be taking a week off EVERYTHING after this week, no work, no trading, no computer on!!!
Just 5 points yesterday on the Dow from 3 trades, two winners and a loser, 5+2-2 then a BE trade today. Nowt doing really, not even on the FX front.
OIL, weak inventories tomorrow, mmmmm? Had a good pull back from the recent sell off, v volatile at the moment in the group which may suggest a top. Iran in focus, I fancy a brief pullback for another day or so then further weakness. From a longer term POV, not sure whether the UN will agree global sanctions on Iran (US already has sanctions in place for Iran via the OFAC process). This could lead to a surge if it were to be put in place, Aug 31 is the deadline following which it would take some time for any agreement to possible sanctions to be discussed, never mind agreed (russia and china will almost certainly object).
Not sure how the rest of you guys are doing.
Chris

 

[Vaco]

same story here really chris,

Have made a decision to only trade L2 bounces untill the market starts to discount the middle east a little and starts moving on price history instead.

However L2 bounces are a once every couple of weeks affair at the best of times and the last 4 trading days the dow has not managed to touch any of my weekly pivots (very tight range) which should mean i get some nice action thurs, fri or early next week.

As for your Q Rehaan, I think Slapshop is the only reguler on this thread that swing trades stocks. I only do the dow so dont have to look for them,

Far as i know any volatile stock with decent volume will do as long as if fits your set up.

 

[hungvir]

Chris, Eleft, et al. :

Have you all become buy and hold (your breath investors?? Hope you guys are doing very well there.

I just came back to Bangkok from a duty trip to Vietnam. Almost got arrested there when covering a demo by peasants whose land was confiscated by local government (there's a picture gallery here - http://www.bbc.co.uk/vietnamese/inpictures/story/2006/08/060830_hanoi_farmers.shtml ).

I haven't looked at indices but just the shares from my ADVFN watch list. I only now realised that Man Group (EMG) had a 1 for 6 split which brought its price to the level that I am comfortable with. And it looks like it's rising yet again. I'll watch it for the next swing low to jump in.

By the way I have just three more weeks here in BKK then I am back to soon to be foggy London. I am missing my kids so much though it looks like I'll be on the street when I am back there if my wife has her way I just came out unscathed (physically only from a family crisis. And crisis management is now on top of the list of things I want to study next (along with technical analysis)

And for some reason I have free wireless access from home. Probably from the next building. My stay here is too short and it's not worth signing up for a contract for internet service. Plus I tend to stay in the office till quite late. But internet connection there is painfully slow.

Hope to talk to you guys soon.

All the best,

Hung

 

[chindl]

This is a quote I read today, very amusing.

"Lots of mixed, conflicting and confusing signs in almost all markets
at moment. Rarely pays to think too much in this game but am increasingly concerned
at what am hearing from CNBC journalists since they suddenly seem too bearish on
energies and commodities in general and too bullish on stocks and bonds. This a poor
indicator to trade on, but have found over the years that there is no “profession” that is
more clueless about the future than journalists. To me journalists are like a bunch of
wealthy golfers who belong to the best clubs, dress well and use the best equipment,
but they never keep score. As result they think they are great at their game, when in
reality they are just a bunch of lousy hackers who if they ever did keep score would
never break a hundred. And believe this is true of virtually all journalists on almost all
issues."
Never a truer word was said was it? Hung? Gonna comment?

Only joking of course Hung, just found the quote amusing.

Not been trading to be honest, too much work, budgets to be planned for 2007 just means I'm working all hours on the day job. Keeping an eye on the markets, like the look of the future €/$ short if it can get through support below present levels. Also like the look of bonds on a short following the CPI last week, but too far away from the market to trade that one. Maybe if silver and gold retrace slightly this week I will look to short, likewise crude, but possibly crude is way too oversold at the moment, and we are due a hurricane in the Gulf which is a fundamental risk. Obviously, too big a reversal on any of them will be cause for a pause on any shorts, but certainly believe currencies are due for some downside from present levels.

All the best to everyone, been quiet on here, maybe we need some revitalisation now we're back in September, the bear month. We'll soon be pre bear hibernation after the autumn following which we should see some good strong moves running into 2007. Wait for Halloween before that first though!!!

Oop the Rovers!!!!

Chris

 

[Splitlink]

Hung's on a different time zone, at the moment. Ahead of us. Does that make any difference? Now it's in the afternoon, in Bangkok, what should we have done this morning, Hung? Let us know before the opening, please.

I'm putting a toe into FTIndex trading. Boredom is a dangerous thing and shares are boring me.

Split

 

[Vaco]

just got back from two weeks in corfu so havent touched a thing. hope your all having fun.

 

[The Pear]

This is a quote I read today, very amusing.

"Lots of mixed, conflicting and confusing signs in almost all markets
at moment. Rarely pays to think too much in this game but am increasingly concerned
at what am hearing from CNBC journalists since they suddenly seem too bearish on
energies and commodities in general and too bullish on stocks and bonds.


Some financial news services have been known to ban / threaten guest commentators if they are too bearish on stocks (for the good of the people....) even if they are tech analysts.

Hung, re EMG may be worth looking at the Lead Funds (AHL) which are the revenue drivers. If you get daily performance figures you may see correlation patterns. Winton Futures was set up when the H of AHL left - the technology is similar....

 

[hungvir]

Hello everyone and appology that I only managed to get back to trade2win now. Did not get any alert emails so I assumed ther were no new posts. Hope you guys have been enjoying riding the Dow wave to 12,000 plus.

By the way, I had a coup in Bangkok to 'deal' with and now a seperation in London so the market has been taking a back seat. I'll still want to study for the exams to become a Chartered Market Tecnician though.

And I've been writing a new blog on Yahoo - http://blog.360.yahoo.com/hunginternet .

Have a good week ahead!

Best,

Hung

 

[hungvir]

By the way, Chris, the quote makes sense But there're alway exceptions to the rule. Count me as one

 

[hungvir]

Axon is being tipped in the FT. The rise looks tasty indeed.