One Trade a Week

[SlipperyC]

LOL! Thanks for the subtle hint Pat. However, fundamentals aren't my strong point - takes too much time for research that I just don't have.

I just look at the very broad macro indicators - as I highlighted for this weeks trade.

 

[jtrader1001]

Is this for short term trades?

 

[Pat494]

Is this for short term trades?

Fundamentals seem to have their own time periods of affecting the markets

Hows about you hosting the Fundamental thread ?

No problem SC

someone - anyone ????

 

[TradeTheEasyWay]

Is this for short term trades?

it's for trades you think will make the best return in one full trading week.#


Mike

 

[isatrader]

A quick update on the open positions. VOD.L is down 2.85% from Pats entry and is currently at 175.65 and Mikes position in the GBPUSD is currently up 0.21% at 1.6209

SlipperyC currently leads this week with his 0.56% ATR adjusted gain from Mondays DAX short.

 

[alloy]

VOD looks good entry on uptrend line today, have just come accross this forum hope to post an idea this weekend

 

[isatrader]

Trading Update

Welcome alloy, I'll be interested to see what you trade. Ok, a quick update. The markets continue to edge lower, but this weeks remaining players are in for another day. Pats Vodafone trade got very close to his stop loss, but it survived and the US market recovered a bit near the close tonight. So we should have a positive start in the morning with any luck. Mike trade in GBPUSD is still trading around breakeven, so we'll see what tomorrow brings.

Open positions

Pat494
VOD.L
Entry: 180.8
Current Price: 173.25
Stop: 171
Target: 191

TradeTheEasyWay
Entry: 1.6175
Current Price: 1.6140
Stop: 1.6040
Target: 1.6500

 

[TradeTheEasyWay]

OK, GBPUSD looked bullish last weekend, it drfited under the highs all week and now the GDP is revised lower. I've closed the trade at 1.61. Not sure if I can do that in these rules so over to you on this ISA.

I went short in my day trading account early thos morning - so I'm +40 i that account and looking for GBP to retest 1.60, maybe even lower today; it's possible GBP could crash today if the US data is strong the weeks US$ lows are rejected. My Gold and oil stocks are doing wwell. Solf PFD for 38% profit in 2 weeks.

Let's see how we close today. Oddly enough the ftse is holding so far. But prelim US gdp is later today, that wiull really set the tone for next week.

Trade of the week is oil!.

Mike Hamilton

 

[Pat494]

Oddly enough the ftse is holding so far.Mike Hamilton

The LSE and therefore most of the FTSE has run into technical problems

 

[isatrader]

OK, GBPUSD looked bullish last weekend, it drfited under the highs all week and now the GDP is revised lower. I've closed the trade at 1.61. Not sure if I can do that in these rules so over to you on this ISA.

The rules are that you get the exit time when you post on the thread that you want to exit, using the T2W time on the post. A simple post saying "exit" is all that is needed for speed.

So your post to exit was at 10.07 on the thread, so the closing price of GBPUSD at 10.07am was 1.6104

Closing Trade

GBPUSD
Long

Entry: 1.6175
Exit: 1.6104

Percentage Gain: -0.44%

ATR Adjusted Percentage Gain: -0.61%

Thanks for actively managing your trade Mike. Looks like SlipperyC is going to take the win this week as Pats VOD.L trade is currently down near his stop loss and would need a big move today to win it this week.

 

[alloy]

I got a notepad full of entrie here, going to struggle to find a best pick....

 

[isatrader]

I got a notepad full of entrie here, going to struggle to find a best pick....

That's why I do this thread, as it makes you filter down all your watchlist to the one that you think will move the most in the next week relative to its average true range. A good target to aim for is between 1 and 2 times the daily ATR(200)

It really helps me to focus and means I put the work in, so that I'm not trading on a whim, but on a well researched idea with clear entry and exit points.

Good luck

 

[isatrader]

Week 4 Results

Well done to SlipperyC whose trade in the DAX took the win this week with a 0.56% ATR adjusted gain. The others trades ended up negative so we had down week overall by -3.37% (ATR Adjusted). Considering the week the broad markets had, this wasn't too bad.

So our first month is over. I've attached a full list of all the trades during the month. Performance for the group in February was a +10.45% gain or +2.09% ATR Adjusted, so well done everyone. That's really good.

Relative Performance

One trade a week group
Week: -3.37% (ATR Adjusted)
Cumulative: +2.09% (ATR Adjusted)

S&P 500
Week: -1.42%
Cumulative: +3.66%

FTSE 100
Week: -1.34%
Cumulative: +2.05%

League Table

Name_________Points
Pat494_____________3
isatrader___________3
TradeTheEasyWay____2
SlipperyC___________1
chilltrader__________1

Name_________ATR Adjusted Percentage
isatrader___________0.93%
TradeTheEasyWay____0.65%
Pat494_____________0.44%
chilltrader__________0.04%
SlipperyC___________0.02%

As always, get your pick in for next week by the end of Sunday.

Cheers

David

 

[chilltrader]

GBP/USD

Buy Limit : 16102
Stop : 16020
Target : 16280

 

[wigtrade]

Hi isa thanks for running this - interesting reading, mind if I join in this week?
cheers
Wig

 

[isatrader]

Hi isa thanks for running this - interesting reading, mind if I join in this week?
cheers
Wig

Yep, no worries. Anyone can join in. Rules are in the first post of how to play. I will be interested to see what you trade.

 

[wigtrade]

Great thanks

Right first league trade as follows:

F. (Ford motor company) - BUY
Long 1515
Stop 1445
Risk 70pts

Fill at 1620

Order set
Wig

 

[isatrader]

Great thanks

Right first league trade as follows:

F. (Ford motor company) - BUY
Long 1515
Stop 1445
Risk 70pts

Fill at 1620

Order set
Wig

I like it, I'll definitely be watching with interest. Here's the ATR targets

It's priced on ADVFN as 15.15 not 1515, so I'll give you the targets with the decimal.

FORD

Daily ATR(200) = 0.43 (2.84%)
Weekly ATR(200) = 1.09 (7.19%)

ATR Targets
1x ATR: 15.58
1.5x ATR: 15.795
2x ATR: 16.01

Good luck and welcome to the group.

 

[wigtrade]

Thanks bud, look forward to sharing setups and ideas, and hopefully learning a few tricks of the trade from the group!

Happy trading :shuriken:
Cheers
Wig

 

[Pat494]

VED.L
Vedanta Resources
2360
Market
exit 2390
stop 2340

The chart looks ok