One Trade a Week

[Pat494]

Hi Pat, PYC.L has hit your target of 0.525 at 08:44 this morning. Meaning you take the lead for the week. Here's the closing details:

Closing Trade

Physiomics (LSEYC)
Direction: Long

Entry: 0.405
Exit: 0.525

Percentage Gain: 29.63%

ATR Adjusted Percentage Gain: 2.18%

Well done Pat, you managed to get just over two days average range for the volatile PYC.L

Thanks

The penny shares are really dodgy but pay out big when they come good.

 

[isatrader]

So that only leaves Mike (TradeTheEasyWay) left in with his long position in the GBPUSD opened at 1.6086. To take the win this week he would need to close the position above 1.6336, but if he gets stopped out at his stop of 1.5965 then the group will still have made a 1.56% ATR profit for the week, and if he closes out at breakeven then the group performance would be 2.62% for the week. So it might be worth considering the group performance if you don't think you'll get the win Mike and take a smaller profit. Up to you.
Cheers

 

[JER08]

Is there a weekly prize for winning among the group?

 

[isatrader]

Is there a weekly prize for winning among the group?

Unfortunately not. Maybe one day we'll be able to encourage T2W to stump up something for the annual or quarterly winner, but for the moment it's just a friendly bit of competition to help us be better traders and learn from each other.

Most of the traders in the group trade their picks in their real account. So there is a prize for the weekly winner as they have more money in their account.

 

[isatrader]

Positions Update

Attached is the updated positions for the week. Pat leads with 2.18% ATR adjusted gain and only Mike remains open in his GBPUSD trade. The group total is currently just over 3.01% for the week, so we're outperforming the market by over 5%.

Below is the positions spreadsheet

 

[JER08]

Unfortunately not. Maybe one day we'll be able to encourage T2W to stump up something for the annual or quarterly winner, but for the moment it's just a friendly bit of competition to help us be better traders and learn from each other.

Most of the traders in the group trade their picks in their real account. So there is a prize for the weekly winner as they have more money in their account.

Sorry if my original question was a bit cheeky, thought about joining in but performance of the whole group will get dragged down as a result

 

[isatrader]

Sorry if my original question was a bit cheeky, thought about joining in but performance of the whole group will get dragged down as a result

The group is a real mix of traders. The more the merrier IMO as it adds variety to the mix.

 

[TradeTheEasyWay]

Oh no, the pressure is on for the groups honour then. I seem to be creating a habit of taking this to the wire. GBOUSD closed above the 50 / 20 today so I will close it once I get a handle on tomorrows action.

Mike

 

[isatrader]

Oh no, the pressure is on for the groups honour then. I seem to be creating a habit of taking this to the wire. GBPUSD closed above the 50 / 20 today so I will close it once I get a handle on tomorrows action.

Mike

Thanks Mike, hows your week been? Did you catch any of these wild moves or have you mostly stood aside?

 

[TradeTheEasyWay]

Hi Guys, I'm out gbpusd, it's 1.6150 here but your call Dave. Yes, I trade eurusd up to her from a break out yesterday.

A lot of the moves were down to BoJ intervention over night so I stayed out of a lot of action.

Doing well in oil as it gyrates around.

Well doen evryone, some good trading this week.

Mike

 

[isatrader]

Thanks Mike, I have to use the closing price of your post time so people can verify the trade if they are so inclined. So that's why I recommend just a quick post with "EXIT" as that will be your exit time and then you can do another post at your leisure in more detail. So the exit post was at 2.11pm so the closing price on the 1 minute bar from ADVFN was 1.61495. Below is the closing trade details:

Closing Trade

GBPUSD (FX:GBPUSD)
Direction: Long

Entry: 1.6086
Exit: 1.61495

Points Gain: 63.5

ATR Adjusted Percentage Gain: 0.56%

Well done Mike, this went offside a few times this week because of the various world events but your stop just held out and you held on for a reasonable profit which I think keeps you in the lead over all the weeks.

I will do the group roundup later or tomorrow, but we finished the week at +3.18% ATR adjusted profit which is our best week so far, and Pat494 takes the weekly honours

Below is a chart of Mikes trade

 

[wigtrade]

good trading guys,

Isa my JMAT long trade triggered in the end, the one trade per week order still stands and I took a nice 40pts today!

I understand not being able to change picks midweek but at least leave my original pick in place mate!

plus this is my first winner in three weeks on this thread
cheers
Wig

 

[wigtrade]

Here ya go Isa
To save you having to trawl back through the thread!
cheers
Wig

Johnson Matthey (LSE:JMAT)
Direction: Long
Limit order: 1810
Stop: 1770
Target: 1900
ATR Targets

Daily ATR(200) = 39.47 (2.18%)
Weekly ATR(52) = 100.44 (5.55%)

-1x ATR: 1770.53
1x ATR: 1849.47
1.5x ATR: 1869.21
2x ATR: 1888.94

 

[isatrader]

good trading guys,

Isa my JMAT long trade triggered in the end, the one trade per week order still stands and I took a nice 40pts today!

I understand not being able to change picks midweek but at least leave my original pick in place mate!

plus this is my first winner in three weeks on this thread
cheers
Wig

Yes, you are correct. You did ask to cancel your original pick, however, you said only if you could change to the sell order on LOG.L, so I should have left your original order in place, or confirmed that you wanted to scratch the JMAT pick. So therefore:

Closing Trade

Johnson Matthey (LSE:JMAT)
Direction: Long

Entry: 1810
Exit: 1855

Percentage Gain: 2.49%

ATR Adjusted Percentage Gain: 1.14%

Well done wig, it came good in the end.

I think this is a good example of why I ask for people to be really clear with their posts as otherwise I'll mess it up

 

[wigtrade]

Not your fault mate - I asked for a cheeky midweek short as my long hadn't been triggered (I know I know theres always one), end of the day though its your thread your rules!

Thanks for updating as per my original pick, although this doesn't lessen the pain of the real money JMAT long I took which WAS triggered in and promptly stopped straight out!

Cheers,
Wig

 

[isatrader]

Not your fault mate - I asked for a cheeky midweek short as my long hadn't been triggered (I know I know theres always one), end of the day though its your thread your rules!

Thanks for updating as per my original pick, although this doesn't lessen the pain of the real money JMAT long I took which WAS triggered in and promptly stopped straight out!

Cheers,
Wig

You're not the only one mate. I took a position in gold on Monday night to hedge a few stock positions and was promptly stopped out of all of them for my biggest loss in four months. It was a tricky week for swing trading, but I imagine intraday traders have had some fun.

 

[Pat494]

Interesting week especially for fundamentals

I might do another penny stock punt for next week if I can find one

cheers all have a good w/e

 

[wigtrade]

yeah I've been having fun with mable intraday bless her

 

[isatrader]

Week 7 Results

The winner this week was Pat494 with his trade in PYC.L. He managed an excellent 2.18% ATR adjusted gain which is the biggest single gain so far and just short of the weekly average range for PYC. So good going Pat.

It was a really strong performance for the group this week as well with 6 wins and only 2 loses giving us an excellent 4.32% ATR adjusted profit for the week. This brings the group total up to 7.59%

Relative Performance

We outperformed the FTSE 100 and S&P 500 again this week which both were negative. Below is the breakdown and the league tables:

One trade a week group
Week: +4.32% (ATR Adjusted)
Cumulative: +7.59% (ATR Adjusted)

S&P 500
Week: -1.69%
Cumulative: +0.55%

FTSE 100
Week: -1.90%
Cumulative: -2.73%

League Table

Name_________ATR Adjusted Percentage
TradeTheEasyWay____4.07%
chilltrader__________2.92%
Pat494_____________2.02%
Black Swan_________1.72%
tar________________0.79%
isatrader___________0.28%
wigtrade___________-1.88%
SlipperyC__________-2.34%

Name_________Points
TradeTheEasyWay____6
chilltrader__________5
Pat494_____________5
Black Swan_________3
isatrader___________2
SlipperyC___________0
tar_______________-1
wigtrade__________-1

So TradeTheEasyWay still leads on both measures with a 4.07% ATR adjusted gain and 6 points. chilltrader and Pat494 are not far behind though.

I've added a relative performance chart vs the S&P 500 to the weekly screenshots below as well as the normal table and results spreadsheet.

Remember to get your picks in for next weeks game by the end of Sunday, and that it starts at 12am (GMT) on Monday morning.

I'm learning a lot from doing this and I hope that everyone else is too. Keep up the good work everyone

 

[TradeTheEasyWay]

Dave (ISA), just want to thank you for your efforts. It's great to see the charts everyone is looking at.

I sold too early on Friday, GBPUSD topped at 1.6250, 100 points above my exit. Never mind.

For this week I was torn between one of the softs, a few UK gold stocks and some of the gbp / eur pairs but this is my favourite chart for the coming week. This one moves well when fear strikes and I'm not convinced we've not seen the end of the fear yet.

USDCAD daily
hammer under 50 ema
hammer above 50% fib zone
ENTRY: .9857
STOP:9790
TARGET:1005

Good luck everyone.

Mike :clover: