One Trade a Week

[TradeTheEasyWay]

If any of you have not got screen grab software - this free one is very good for video and screen shots.

http://www.techsmith.com/jing/

Mike

 

[isatrader]

Well done yet again. I'm having to work hard to keep up with you Guys. So I'm steering clear of any boring UK stocks and going for gold, well beans actually.

Soybeans - may contract
Closed above fib play zone
- seasonal play
- very weak US$

Entry: 13.85
Stop: 13.59
Target: 14.60

Mike Hamilton

I'm going to need your help with this one Mike as I don't have access to the Soybeans intra-day data on my ADVFN feed. So I need you to tell me what the 200 day ATR is please so I can do your targets. Or can you download the daily OHLCV data and send it to me so I can put it in my end of day charts?

Cheers

 

[elitejets]

Quick question because I would like to join, does the trade only have 5 days to work? Sometimes some of my trade ideas take a bit longer.
Nicola

 

[isatrader]

Quick question because I would like to join, does the trade only have 5 days to work? Sometimes some of my trade ideas take a bit longer.
Nicola

Yep, the maximum time scale is 5 days for the thread as I needed a set a time limit for many reasons and although a week makes it harder, it makes us focus I think.

All trades still open on Friday night are closed automatically at the close. You can enter and exit at anytime during the week on the thread manually or set orders for specific entry and exits. Look through last weeks pages and you'll get the idea of how it works or you can ask me questions of course. But we'd be happy to have you join in.

 

[isatrader]

Well done yet again. I'm having to work hard to keep up with you Guys. So I'm steering clear of any boring UK stocks and going for gold, well beans actually.

Soybeans - may contract
Closed above fib play zone
- seasonal play
- very weak US$

Entry: 13.85
Stop: 13.59
Target: 14.60

Mike Hamilton

Hi Mike,

I managed to find a really good free resource that has historical futures data back to 1959 at http://pitrading.com/free_market_data.htm. So I downloaded the Soybeans continuous contract data and put it in my chart program so I could work out your initial ATR targets:

ATR Targets

Daily ATR(200) = 26.8194 (1.94%)
Weekly ATR(52) = 54.774 (3.95%)

-1x ATR: 1358.18
1x ATR: 1411.82
1.5x ATR: 1425.23
2x ATR: 1438.64

It looks like a promising pick to me, especially considering the seasonal patterns as well which I've attached a screenshot below from the Moore Research Center. It's a little out of date as you have to pay for anything newer, but the seasonal patterns wouldn't have changed too much in the last few years as it's an average of all years.

Good luck.

 

[Pat494]

Kesa Electricals
long
Market
112.6
TP 120
SL 100

Kesa Electricals plc, through its subsidiaries, engages in retailing electrical products and related services. It sells its products in three categories: White, Brown and Grey electrical goods and related accessories. The White category products comprise various large and small sized domestic appliances, such as refrigerators, washing machines, microwaves, coffee machines, and irons. The Brown category products include various vision and audio products comprising flat screen televisions, DVD players, MP3 players, and camcorders. The Grey category products consist of telecommunications and multimedia products, including mobile telephones, personal computers, laptops, digital cameras, printers, scanners, games, and electronics. The company also offers various associated services, including home delivery, installation, and credit and extended warranties. It operates approximately 700 stores in France, the United Kingdom, Belgium, Holland, the Czech Republic, Slovakia, Italy, Switzerland, Turkey, and Spain. Kesa Electricals plc is based in London, the United Kingdom

 

[Pat494]

This is a screenshot ( thanks to a member ) of Kesa 1 hour tf

 

[isatrader]

Kesa Electricals
long
Market
112.6
TP 120
SL 100

Kesa Electricals plc, through its subsidiaries, engages in retailing electrical products and related services. It sells its products in three categories: White, Brown and Grey electrical goods and related accessories. The White category products comprise various large and small sized domestic appliances, such as refrigerators, washing machines, microwaves, coffee machines, and irons. The Brown category products include various vision and audio products comprising flat screen televisions, DVD players, MP3 players, and camcorders. The Grey category products consist of telecommunications and multimedia products, including mobile telephones, personal computers, laptops, digital cameras, printers, scanners, games, and electronics. The company also offers various associated services, including home delivery, installation, and credit and extended warranties. It operates approximately 700 stores in France, the United Kingdom, Belgium, Holland, the Czech Republic, Slovakia, Italy, Switzerland, Turkey, and Spain. Kesa Electricals plc is based in London, the United Kingdom

Thanks Pat, here are your initial ATR targets for KESA.L using Fridays closing price of 112.6:

ATR Targets

Daily ATR(200) = 4.13 (3.67%)
Weekly ATR(52) = 10.05 (8.93%)

-1x ATR: 108.47
1x ATR: 116.73
1.5x ATR: 118.80
2x ATR: 120.86

Good luck

 

[Pat494]

If any of you have not got screen grab software - this free one is very good for video and screen shots.

http://www.techsmith.com/jing/

Mike

Thanks
It works well and will be useful

 

[Pat494]

What one really needs is one of those data analysing programmes.
P/E - 10 to 15%
eps - > 5% per share price

etc.

The problem is they cost a bit and I'm not sure people actually make money using one.
Perhaps someone could comment ?

 

[isatrader]

What one really needs is one of those data analysing programmes.
P/E - 10 to 15%
eps - > 5% per share price

etc.

The problem is they cost a bit and I'm not sure people actually make money using one.
Perhaps someone could comment ?

Digital Look has good free screening tools Pat. Here's the link:

http://www.digitallook.com

 

[isatrader]

Week 11 Pick - HOC.L

Hochschild Mining (HOC.L)

Sector: Mining (NMX1770)

Order Type: Warehoused

Direction: Long

Warehoused Entry: Will manually enter during the week, I'm looking for a break above 650 to signal a P&F buy signal on the 30 minute chart, but I will reassess going long if it drops below 610 on Monday.

Initial Stop loss: 606
Initial Target: 704.55

ATR (200 Day): 21.82 (3.36%)
ATR (52 Week): 47.2 (7.26%)

ATR Targets: - Based on estimate entry point of 650
-1x ATR: 628.18
1x ATR: 671.82
1.5x ATR: 682.73
2x ATR: 693.64

Entry Reason
The major markets rolled over a bit on Friday and look to me like they want to retest the short term moving averages, so this could possibly drag down most stocks at the beginning of the week. My main priority with my picks for this thread is to play relative strength, so as I think the majority of stocks will be dragged lower initially I'm looking for areas of relative strength vs the S&P 500. Precious metals is one area that is outperforming the market at the moment and in-particular silver which is outperforming vs Gold, Platinum and Palladium as well. So as I'm trying to stick to UK stocks in the FTSE 350 there's only two options - which is Fresnillo and Hochschild Mining. Fresnillo looks promising and has better relative strength, but the risk is too big for my account, so I'm going for the more volatile Hochschild Mining which seems prone to short term intraday spikes - probably due to it's thinner volume so I'll have to keep my stop loss a bit looser than normal.

Looking at the mining sector and the FTSE 100 charts, both made weekly Three White Soldier candle stick patterns and the mining sector broke up on Friday on the daily chart. HOC.L had a late day sell off on Friday but a big order came in during the auction almost a full days range higher at 638.84, so I'm currently looking for an intraday buy signal on the 30 minute P&F chart above the 650 level to get in.

The daily ATR is 21.82 and the weekly is 47.2 so I'm aiming for a full weeks average this week.

Below are my charts

 

[Pat494]

Digital Look has good free screening tools Pat. Here's the link:

http://www.digitallook.com

thanks
the interesting bit is £25 per month tho

 

[TradeTheEasyWay]

Hi Mike,

I managed to find a really good free resource that has historical futures data back to 1959 at http://pitrading.com/free_market_data.htm. So I downloaded the Soybeans continuous contract data and put it in my chart program so I could work out your initial ATR targets:

ATR Targets

Daily ATR(200) = 26.8194 (1.94%)
Weekly ATR(52) = 54.774 (3.95%)

-1x ATR: 1358.18
1x ATR: 1411.82
1.5x ATR: 1425.23
2x ATR: 1438.64

It looks like a promising pick to me, especially considering the seasonal patterns as well which I've attached a screenshot below from the Moore Research Center. It's a little out of date as you have to pay for anything newer, but the seasonal patterns wouldn't have changed too much in the last few years as it's an average of all years.

Good luck.

Well done Dave, I knew it wouldn't take you long, a trader of your caibre.

Mike

 

[isatrader]

thanks
the interesting bit is £25 per month tho

I'm fairly certain you can do a lot of the types of scans you were suggesting with the free account. But you'd have to pay to go really in-depth.

 

[wigtrade]

EZJ (Easyjet) - SELL
*Limit order*

Short 319
Stop 340
Target 270

EZJ has closed below key weekly 340 level for last four weeks in a row.

Price has now consolidated below on the daily and looks set for another leg down

Will be aboard this southbound charter from terminal 3 gate 19 when she fires up the engines:-0

cheers
Wig

 

[isatrader]

EZJ (Easyjet) - SELL
*Limit order*

Short 319
Stop 340
Target 270

EZJ has closed below key weekly 340 level for last four weeks in a row.

Price has now consolidated below on the daily and looks set for another leg down

Will be aboard this southbound charter from terminal 3 gate 19 when she fires up the engines:-0

cheers
Wig

Thanks Wig, here's the initial ATR targets for you:

ATR (200 Day): 11.06 (3.47%)
ATR (52 Week): 28.62 (8.97%)

ATR Targets
-1x ATR: 330.06
1x ATR: 307.94
1.5x ATR: 302.41
2x ATR: 296.88

Good luck

 

[isatrader]

Ok, it's reminder time for everyone who has not made their pick yet this week. Get you picks in by Midnight tonight (BST)

Cheers

 

[dmt257]

I think im missing something here, as Im the only one trading exclusively Fx it seems. I just took a look at the CFD list that my broker offers, its a little bit daunting, there is so many. I guess thats where the scanning software comes into play. A bit further into this trading lark I will have a closer look.

My trade

GBP/AUD

Short

Entry 154.35
S/l 155.55
T/p 152.20

Reasoning

Closed below BRN and PPZ of 1.55. Im bearish on the Uk economy. Long term down trend.

4 Hr chart. H&S pattern? Entering on the break of the 1st April low.
Daily chart. Significant bearish bar. Decent amount of space for trade to run down into.
Weekly. Price rejecting on strong resistance at 1.58 forming bearish pin. I also saw what I think could be described as a failed reverse H&S on this chart? Im really not sure what this would generally mean. I need to learn more.

Good luck everyone.

 

[Canto1922]

My entry for the week ahead:

FRES (Fresnillo) - Buy

Long at 1650

Stop 1580
Target 1720

FRES reaching recent highs - further weakness in dollar & gold/silver price likely to push price up further.