One Trade a Week

[isatrader]

Thanks Mike. I made a similar play to this after the close on Friday, as I went short the S&P 500, as I also think the fear isn't over yet either and the short covering rally looked to have lost momentum. So I thought I'd play for a retest of the recent low and possible breakdown in the market for the start of the week.

 

[isatrader]

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

Here's the initial ATR Targets for you

ATR Targets

Daily ATR(200) = 0.0074 (0.75%)
Weekly ATR(52) = 0.0235 (2.38%)

-1x ATR: 0.9783
1x ATR: 0.9931
1.5x ATR: 0.9968
2x ATR: 1.0005

Good luck

 

[chilltrader]

Warehoused BUY Order for NWS.L (Smiths News)

 

[isatrader]

Warehoused BUY Order for NWS.L (Smiths News)

Thanks chill. Here's the initial ATR Targets for you, based on Fridays closing price of 79.00

ATR Targets

Daily ATR(200) = 3.80 (4.81%)
Weekly ATR(52) = 8.15 (10.32%)

-1x ATR: 75.20
1x ATR: 82.80
1.5x ATR: 84.70
2x ATR: 86.60

Good luck

 

[tar]

warehoused

Sell USD/JPY

stop and limit 250 pips .

 

[isatrader]

warehoused

Sell USD/JPY

stop and limit 250 pips .

Thanks tar. Here's the initial ATR Targets based on Fridays closing price of 80.58

ATR Targets

Daily ATR(200) = 0.6643 (0.82%)
Weekly ATR(52) = 2.0971 (2.60%)

-1x ATR: 81.24
1x ATR: 79.92
1.5x ATR: 79.58
2x ATR: 79.25

Good luck

 

[Pat494]

market
long
Nextgen (NGG)
target 40
stop 32

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having another penny share

 

[Black Swan]

I'm continuing with the US equities, given it's a bit of fun/departure from swing trading FX. Looking at Dell, began its fall in price pre the Japan issues, thoughts are that component, supply and distribution channels will now also be impacted and be disrupted for some time..However I may warehouse this as I suspect that, despite Japan and Libya, the main indices will rise Monday and float this stock up on the tide...Let you know this evening.

 

[isatrader]

market
long
Nextgen (NGG)
target 40
stop 32

Ok thanks Pat, here's the ATR targets based on Fridays closing price of 0.385

ATR Targets

Daily ATR(200) = 0.0174 (4.46%)
Weekly ATR(52) = 0.0402 (10.31%)

-1x ATR: 0.3676
1x ATR: 0.4024
1.5x ATR: 0.4111
2x ATR: 0.4198

Good luck

 

[isatrader]

As a side issue, the penny shares have very large bid/ask spreads and I know we aren't considering them as we are only trading closing prices. But I think it's something we should consider when choosing, as for example on this one the whole trade would be inside the current spread so wouldn't be possible to do in real trading. Thoughts?

 

[wigtrade]

Hi isa, yep bid/ask it's the elephant in the room isn't it!!
risk reward profile in some cases is greatly enhanced by taking spreads out of the equation, and is not a true reflection on the realities of trading. however as this is more of a test and learn thread and adding spreads in is probably too much hassle on your part it just means the returns are overstated in all cases (and in the case of penny stocks as you say grossly overstated)
You could argue picking penny stocks where you benefit the most from the lack of spreads is against the ethos of a thread such as this however each to their own, personally I'm enjoying the varied approach and picks coming in each week
cheers
Wig

 

[Pat494]

As a side issue, the penny shares have very large bid/ask spreads and I know we aren't considering them as we are only trading closing prices. But I think it's something we should consider when choosing, as for example on this one the whole trade would be inside the current spread so wouldn't be possible to do in real trading. Thoughts?

If you would rather I could find a more solid share ?

 

[isatrader]

If you would rather I could find a more solid share ?

That's not necessary Pat. You've clearly done good research to find this weeks pick and that is what I want on this thread. So I'm happy for you to trade your pick as is this week.

However, I also want the trading on this thread to be as realistic as possible without being able to factor in the bid/ask spread. So I would ask that in future that all picks would be able to be traded in real life in the timescale we trade.

So can everyone please consider the bid/ask spread when they are choosing their pick in future.

Thanks

David

 

[isatrader]

WTI Crude Oil (Light Sweet Crude Oil Futures, May-2011)

Order Type: Warehoused

Ticker: NYMEX:CL\K11
Direction: Long

Warehoused Entry: Will manually enter during the week

Initial Stop loss: 97.49
Initial Target: 108

ATR (200 Day): 1.6117 (1.58%)
ATR (52 Week): 4.0956 (4.02%)

ATR Targets: - Based on Fridays close of 101.85
-1x ATR: 100.24
1x ATR: 103.46
1.5x ATR: 104.27
2x ATR: 105.07

Entry Reason
I think the news of Allied attacks in Libya to enforce a no fly zone will trump almost everything on Monday and that the market will sell down again. With the focus shifted away from Japan and back to the Middle East, I think that Oil will begin to rise again. So I'm going long Oil if I can get a decent entry point that doesn't risk too much.

Below are my charts

 

[tar]

As a side issue, the penny shares have very large bid/ask spreads and I know we aren't considering them as we are only trading closing prices. But I think it's something we should consider when choosing, as for example on this one the whole trade would be inside the current spread so wouldn't be possible to do in real trading. Thoughts?

+1

 

[chilltrader]

"..So I would ask that in future that all picks would be able to be traded in real life in the timescale we trade.."

I thought we were trading our picks in "real life"... is that not the case?

 

[wigtrade]

All my picks on here are traded in real life, infront of a live studio audience.
unfortunately though the spreads in real life are higher than on this thread!
cheers
Wig

 

[isatrader]

"
I thought we were trading our picks in "real life"... is that not the case?

I've been trading my picks in my account, but it's up to the individual as it's also a chance to trade products you might not be able to normally. So although I'd encourage it, I can't force people.

 

[Black Swan]

"..So I would ask that in future that all picks would be able to be traded in real life in the timescale we trade.."

I thought we were trading our picks in "real life"... is that not the case?

What's the point if not?

 

[Black Swan]

Ok, change of plan, I'm going long on silver, opening market price;


stop 3480
limit 3650.