TradeTheEasyWay
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Thanks ISA, 499 target for CNE is very optimistic for this week but may get 450+
It was my favourite set up.
Mike
Thanks ISA, 499 target for CNE is very optimistic for this week but may get 450+
It was my favourite set up.
Mike
isatrader
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It came up on my scan today as it closed above the +1ATR level. I'm going to watch it for a few more days and might get into it myself next week if it pulls back to the 22 day EMA.
isatrader
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Below is an update of this weeks trades so far. chilltrader still leads with his GBPUSD trade. TradeTheEasyWay had a chance to take the lead today but it has fallen back now.
There's still 2 days left with 4 people still in. Below is the current positions
Closed Positions - ATR Adjusted
chilltrader
FX:GBPUSD
1.45%
Pat494
LSE:VED
0.36%
SlipperyC
DBI DAX
-1.00%
isatrader
NYSE:GLD
-1.61%
Open Positions - ATR Adjusted
TradeTheEasyWay
LSE:CNE
Current: 1.08%
tar
LSE:XTA
Current: -0.25%
Black Swan
FX:AUDUSD
Current: -0.27%
wigtrade
NYSE:F
Current: -1.47%
There's still 2 days left with 4 people still in. Below is the current positions
Closed Positions - ATR Adjusted
chilltrader
FX:GBPUSD
1.45%
Pat494
LSE:VED
0.36%
SlipperyC
DBI DAX
-1.00%
isatrader
NYSE:GLD
-1.61%
Open Positions - ATR Adjusted
TradeTheEasyWay
LSE:CNE
Current: 1.08%
tar
LSE:XTA
Current: -0.25%
Black Swan
FX:AUDUSD
Current: -0.27%
wigtrade
NYSE:F
Current: -1.47%
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TradeTheEasyWay
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EXIT: 440 LSE:CNE
Flat today so if I am going to be judged on this week then I'll exit now.
Mike
Flat today so if I am going to be judged on this week then I'll exit now.
Mike
isatrader
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You missed the close today. The rules are you get the time you post your exit on the thread which was 4.35pm, so as it was after the close you'll get the opening price tomorrow.
It was a good trade, I'm still considering buying it myself as I think it will reach your target. I'll post the closing details in the morning. If you get 440, then it would be a 1.21% ATR Adjusted gain which is a very good performance.
isatrader
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Tomorrow is the last of day of this weeks trades. So anyone with an open trade still, It either has to be closed during the day tomorrow or if you don't close it you will get the closing price at the end of Friday.
Below is the positions still open
Open Positions - ATR Adjusted
TradeTheEasyWay
LSE:CNE
Current: 1.21% (will be closed at the market open on Friday)
tar
LSE:XTA
Current: -0.74%
Black Swan
FX:AUDUSD
Current: 0.20%
wigtrade
NYSE:F
Current: -1.23%
Below is the positions still open
Open Positions - ATR Adjusted
TradeTheEasyWay
LSE:CNE
Current: 1.21% (will be closed at the market open on Friday)
tar
LSE:XTA
Current: -0.74%
Black Swan
FX:AUDUSD
Current: 0.20%
wigtrade
NYSE:F
Current: -1.23%
isatrader
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Morning everyone. Mike closed his trade in CNE.L after the close last night. So as the market was closed the opening price this morning is used which was 441.9
Closing Trade
Cairn Energy (LSE:CNE)
Direction: Long
Entry: 425
Exit: 441.9
Percentage Gain: 3.98%
ATR Adjusted Percentage Gain: 1.36%
Well done Mike, another good trade for you, but it wasn't enough to beat chilltraders GBPUSD trade this week. However, that does mean that you go to the top of the leader board overall with a 2.01% ATR Adjusted Gain over the 5 trades
Closing Trade
Cairn Energy (LSE:CNE)
Direction: Long
Entry: 425
Exit: 441.9
Percentage Gain: 3.98%
ATR Adjusted Percentage Gain: 1.36%
Well done Mike, another good trade for you, but it wasn't enough to beat chilltraders GBPUSD trade this week. However, that does mean that you go to the top of the leader board overall with a 2.01% ATR Adjusted Gain over the 5 trades
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TradeTheEasyWay
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Thanks. Markets are really strong here. Only fly in the cream is the oil. USDJPY looks set for a move today and the gbpusd could break up here after the touch of the 8 ema in the daily this morning.
But all eyes on US jobs at 1.30pm today.
I like US:RIMM - they launch a tablet on the 11th and if the market likes it I think it could fly. I've been a buyer in the last dip.
Happy trading everyone.
Mike
But all eyes on US jobs at 1.30pm today.
I like US:RIMM - they launch a tablet on the 11th and if the market likes it I think it could fly. I've been a buyer in the last dip.
Happy trading everyone.
Mike
isatrader
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tar you are out
tar your position was automatically exited at the close today. The closing price for XTA.L was 1425. Below is the details.
Closing Trade
Xstrata (LSE:XTA)
Direction: Short
Entry: 1400
Exit: 1425
Percentage Gain: -1.75%
ATR Adjusted Percentage Gain: -0.51%
tar your position was automatically exited at the close today. The closing price for XTA.L was 1425. Below is the details.
Closing Trade
Xstrata (LSE:XTA)
Direction: Short
Entry: 1400
Exit: 1425
Percentage Gain: -1.75%
ATR Adjusted Percentage Gain: -0.51%
isatrader
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wigtrade you are out
wigtrade your stop loss on Ford at 14.45 was hit at 6.30pm. Below is the closing trade details.
Closing Trade
Ford (NYSE:F)
Direction: Long
Entry: 15.29
Exit: 14.45
Percentage Gain: -5.49%
ATR Adjusted Percentage Gain: -1.95%
That leaves only Black Swan still in his AUD/USD trade which will be closed at the end of trading today.
wigtrade your stop loss on Ford at 14.45 was hit at 6.30pm. Below is the closing trade details.
Closing Trade
Ford (NYSE:F)
Direction: Long
Entry: 15.29
Exit: 14.45
Percentage Gain: -5.49%
ATR Adjusted Percentage Gain: -1.95%
That leaves only Black Swan still in his AUD/USD trade which will be closed at the end of trading today.
isatrader
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Black Swan your position in AUDUSD was closed at the 1.0136
Below is the trade details
Closing Trade
AUDUSD (FX:AUDUSD)
Direction: Short
Entry: 1.0139
Exit: 1.0136
Percentage Gain: 0.03%
ATR Adjusted Percentage Gain: 0.03%
That's all the positions for this week closed now. So I'll post the group performance and league table tomorrow. Thanks to everyone that took part this week.
Below is the trade details
Closing Trade
AUDUSD (FX:AUDUSD)
Direction: Short
Entry: 1.0139
Exit: 1.0136
Percentage Gain: 0.03%
ATR Adjusted Percentage Gain: 0.03%
That's all the positions for this week closed now. So I'll post the group performance and league table tomorrow. Thanks to everyone that took part this week.
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tar
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isatrader
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Week 5 Results
Well done to chilltrader whose trade in the GBPUSD took the win this week with an excellent 1.45% ATR adjusted gain. It was a mixed week for the group as a whole with 4 wins and 4 loses, but the loses were greater than the profits so we had a down week with a -1.87% ATR adjusted loss. So after 26 trades we are back down to near the break even point at +0.22% ATR adjusted. The breakdown of that is 15 wins, 9 loses and 2 scratched trades.
Relative Performance
The S&P 500 and FTSE 100 both finished the week slightly negative as we use the open price from Monday morning to the close on Friday so it's a fair comparision with the groups trades.
One trade a week group
Week: -1.87% (ATR Adjusted)
Cumulative: +0.22% (ATR Adjusted)
S&P 500
Week: -0.03%
Cumulative: +3.63%
FTSE 100
Week: -0.14%
Cumulative: +1.91%
League Table
Name_________ATR Adjusted Percentage
TradeTheEasyWay____2.01%
chilltrader__________1.49%
Pat494_____________0.80%
Black Swan_________0.03%
tar________________-0.51%
isatrader___________-0.68%
SlipperyC___________-0.98%
wigtrade___________-1.95%
Name_________Points
Pat494_____________4
chilltrader__________3
TradeTheEasyWay____3
isatrader___________2
SlipperyC___________0
Black Swan_________1
tar________________-1
wigtrade___________-1
As you can see above on a percentage basis TradeTheEasyWay leads with 2.01% ATR adjusted gain after 4 trades, but on a points basis Pat494 leads with 4 points from 5 trades. The results don't show the whole story though as people have done different amounts of trades so I'm thinking of how best to judge the results over a longer term. It's been suggested that there's a minimum amount of trades before it goes on the league table and some sort of weighting scale. An idea I had was that you could look at each persons best 10 trades and their worst 10 trades over a year and then use the percentage from that to see whose done the best at the end of the year. So any other ideas on this will be appreciated, but it's not too much of a concern yet as we've only been going for 5 weeks.
I look forward to seeing everyone's picks this weekend as always.
Oh, on a final note, please give the thread a rating as some idiot gave it a 1 star rating which will put off new people from looking at it and joining in.
Cheers
Well done to chilltrader whose trade in the GBPUSD took the win this week with an excellent 1.45% ATR adjusted gain. It was a mixed week for the group as a whole with 4 wins and 4 loses, but the loses were greater than the profits so we had a down week with a -1.87% ATR adjusted loss. So after 26 trades we are back down to near the break even point at +0.22% ATR adjusted. The breakdown of that is 15 wins, 9 loses and 2 scratched trades.
Relative Performance
The S&P 500 and FTSE 100 both finished the week slightly negative as we use the open price from Monday morning to the close on Friday so it's a fair comparision with the groups trades.
One trade a week group
Week: -1.87% (ATR Adjusted)
Cumulative: +0.22% (ATR Adjusted)
S&P 500
Week: -0.03%
Cumulative: +3.63%
FTSE 100
Week: -0.14%
Cumulative: +1.91%
League Table
Name_________ATR Adjusted Percentage
TradeTheEasyWay____2.01%
chilltrader__________1.49%
Pat494_____________0.80%
Black Swan_________0.03%
tar________________-0.51%
isatrader___________-0.68%
SlipperyC___________-0.98%
wigtrade___________-1.95%
Name_________Points
Pat494_____________4
chilltrader__________3
TradeTheEasyWay____3
isatrader___________2
SlipperyC___________0
Black Swan_________1
tar________________-1
wigtrade___________-1
As you can see above on a percentage basis TradeTheEasyWay leads with 2.01% ATR adjusted gain after 4 trades, but on a points basis Pat494 leads with 4 points from 5 trades. The results don't show the whole story though as people have done different amounts of trades so I'm thinking of how best to judge the results over a longer term. It's been suggested that there's a minimum amount of trades before it goes on the league table and some sort of weighting scale. An idea I had was that you could look at each persons best 10 trades and their worst 10 trades over a year and then use the percentage from that to see whose done the best at the end of the year. So any other ideas on this will be appreciated, but it's not too much of a concern yet as we've only been going for 5 weeks.
I look forward to seeing everyone's picks this weekend as always.
Oh, on a final note, please give the thread a rating as some idiot gave it a 1 star rating which will put off new people from looking at it and joining in.
Cheers
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isatrader
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Thanks tar, below is the ATR targets based on Fridays close of 1.3793. These will change depending on your entry point, but it can be calculated using the Daily ATR(200) of 0.0117
Daily ATR(200) = 0.0117 (0.85%)
Weekly ATR(200) = 0.0389 (2.82%)
1x ATR: 1.3910
1.5x ATR: 1.39685
2x ATR: 1.4027
Good luck
isatrader
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Order Type: Warehoused
Ticker: HOIL.L (Heritage Oil)
Direction: Long
Warehoused Entry: 271.9 was the closing price on Friday
Stop loss: 254
Target: 300
ATR (200 Day): 14.4 (5.30%)
ATR (52 Week): 38.23 (14.06%)
ATR Targets:
1x ATR: 286.3
1.5x ATR: 293.5
2x ATR: 300.7
Entry Reason
Heritage Oil is deeply oversold. It is however showing signs on a technical basis of turning around. Long term support is at 257.5 which it touched two weeks ago but hasn't been able to get back down to since. My aim is to capture a move back to the 300 level which was the low from last year, so there will be resistance there.
Other stocks I liked this week were Antofagasta (ANTO.L) and GKN (GKN.L). I bought Antofagasta in my ISA account as a long term buy on Friday at 1450 as I see it as the best in class in the UK Mining sector. It however, has earnings out on Monday so I didn't want to use it as my pick this week. I was a bit early on my GKN pick a few weeks back, but the chart pattern is looking very good now, but Fridays weakness put me off picking it this week as I wanted something that showed relative strength when the market sold off which Heritage Oil did on the down moves last week.
Ticker: HOIL.L (Heritage Oil)
Direction: Long
Warehoused Entry: 271.9 was the closing price on Friday
Stop loss: 254
Target: 300
ATR (200 Day): 14.4 (5.30%)
ATR (52 Week): 38.23 (14.06%)
ATR Targets:
1x ATR: 286.3
1.5x ATR: 293.5
2x ATR: 300.7
Entry Reason
Heritage Oil is deeply oversold. It is however showing signs on a technical basis of turning around. Long term support is at 257.5 which it touched two weeks ago but hasn't been able to get back down to since. My aim is to capture a move back to the 300 level which was the low from last year, so there will be resistance there.
Other stocks I liked this week were Antofagasta (ANTO.L) and GKN (GKN.L). I bought Antofagasta in my ISA account as a long term buy on Friday at 1450 as I see it as the best in class in the UK Mining sector. It however, has earnings out on Monday so I didn't want to use it as my pick this week. I was a bit early on my GKN pick a few weeks back, but the chart pattern is looking very good now, but Fridays weakness put me off picking it this week as I wanted something that showed relative strength when the market sold off which Heritage Oil did on the down moves last week.
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TradeTheEasyWay
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Hi Traders,
EURJPY - Short
Entry: 114.95
Stop: 116.10
Target: 111.55
RR: 3.4
I'm sticking my neck out this week with a counter trend trade on the EURJPY. It's not so much that I think the market has got it wrong with the Euro, it's that they MAY have it wrong with the Yen.
At the very least I'm looking for a retest of the 8 ema which will give 100 points but data is due out on the Yen this week which I think will change this chart.
Also, although the weekly closed above the 50 ema, the eurjpy is in a box play from May 2010 and I just don't think the Euro has the power to break yet. EurUsd struggled with 1.40 on Friday with stress in the markets over Middle East and stress within Euro markets itself between booming Germany and weaker partners.
Mike Hamilton
EURJPY - Short
Entry: 114.95
Stop: 116.10
Target: 111.55
RR: 3.4
I'm sticking my neck out this week with a counter trend trade on the EURJPY. It's not so much that I think the market has got it wrong with the Euro, it's that they MAY have it wrong with the Yen.
At the very least I'm looking for a retest of the 8 ema which will give 100 points but data is due out on the Yen this week which I think will change this chart.
Also, although the weekly closed above the 50 ema, the eurjpy is in a box play from May 2010 and I just don't think the Euro has the power to break yet. EurUsd struggled with 1.40 on Friday with stress in the markets over Middle East and stress within Euro markets itself between booming Germany and weaker partners.
Mike Hamilton
