One Trade a Week

[TradeTheEasyWay]

cadjpy- stopped out for -53 points. Then it dropped hard of course. never mind, I'll pick a good one next week.


Mike

 

[isatrader]

cadjpy- stopped out for -53 points. Then it dropped hard of course. never mind, I'll pick a good one next week.


Mike

Hi Mike, you didn't move your stop on the thread. So for the competition your stop was set at 83.58, which hasn't been hit. So you can either keep your CADJPY open or you can close it? The closing price at 21.03pm when you said you exited on the thread was 82.2990

I've got to be fairly strict otherwise people will moan. So remember you need to update your stop and target on the thread, otherwise it will just be what you set at the beginning of the week. And when you want to exit, just type "EXIT" and post it on the thread and you'll get the closing price of that minute. Let me know if you have any questions

Cheers

 

[TradeTheEasyWay]

Hi Isa T

I would feel like a cheat if I kept in the competition. I will remember to post my stop management next time. It looka great short here now, a rev bar under the 50 ema, one of my favourite set ups.

Mike

 

[isatrader]

Hi Isa T

I would feel like a cheat if I kept in the competition. I will remember to post my stop management next time. It looka great short here now, a rev bar under the 50 ema, one of my favourite set ups.

Mike

Ok, thanks Mike. So in that case you'll get the 9.03pm close then, as that's when you posted (which was 82.299), so therefore:

Closing Trade

CADJPY - Short

Entry: 82.4
Exit: 82.299

Percentage Gain: 0.12%

ATR Adjusted Percentage Gain: 0.12%


I will post the groups trades, league table and percentages at the weekend. It was a good first week everyone, thanks for taking part.

 

[SlipperyC]

Thanks for putting the effort in isatrader.

 

[Pat494]

Name Barclays bank Ltd
Ticker Barc.L
Current price 307.24
Market
long
Exit 317
S/L 280

onwards and upwards

 

[isatrader]

Week 1 Results

Attached is the results of the first weeks trades. As the weeks go on I will add a chart for the group and do comparisons with the indexes and other metrics to see how we are doing.

On the spreadsheet I've included the S&P 500 and the FTSE 100 for comparison over the week.

Well done everyone and remember to submit you trades for the coming week by the end of tomorrow

Cheers

 

[isatrader]

Talvivaara Mining (TALV.L) – Week 2 Pick

Order Type: Warehoused

Ticker: TALV.L
Direction: Long

Planned Entry: Waiting to see price action on Monday to determine entry point.

Stop loss: 569 (Will reconsider once I have an entry price)
Target: 638

ATR (200 Day): 15.65 (2.63%)
ATR (52 Week): 35.79 (6.02%)

Entry Reason:
Talvivaara Mining is a nickel and zinc miner based in Finland. Nickel has been a strong performer for my long term portfolio and I recently added to my position. Talvivaara Minings 2010 Annual Results are released on February 17, 2011. So with the strong recovery in nickel over the last year I think they could be good and that traders will anticipate this and bid up the stock before the results are released.

The average daily true range is 2.63%, so I'll be aiming for 2 x ATR gain, which is 5.26% profit.

Attached is the weekly and daily chart

 

[Pat494]

Re: Talvivaara Mining (TALV.L) – Week 2 Pick

Order Type: Warehoused

Ticker: TALV.L
Direction: Long

Planned Entry: Waiting to see price action on Monday to determine entry point.

Stop loss: 569 (Will reconsider once I have an entry price)
Target: 638

ATR (200 Day): 15.65 (2.63%)
ATR (52 Week): 35.79 (6.02%)

Entry Reason:
Talvivaara Mining is a nickel and zinc miner based in Finland. Nickel has been a strong performer for my long term portfolio and I recently added to my position. Talvivaara Minings 2010 Annual Results are released on February 17, 2011. So with the strong recovery in nickel over the last year I think they could be good and that traders will anticipate this and bid up the stock before the results are released.

The average daily true range is 2.63%, so I'll be aiming for 2 x ATR gain, which is 5.26% profit.

Attached is the weekly and daily chart

The daily chart Macd looks a bit worrying for a long weekly bet, isn't it ?
:whistling

 

[isatrader]

Re: Talvivaara Mining (TALV.L) – Week 2 Pick

The daily chart Macd looks a bit worrying for a long weekly bet, isn't it ?
:whistling

It's been rising for the last 11 days and is close to a crossover to the upside on the daily chart, it could of course fail and turn back down, but I don't look at one indicator in isolation and Macd is frequently in this precarious position before a breakout I've noticed. The 11 day moving average turned up 4 days ago after the price opened lower the day before and was rejected and closed back up. The force index indicator which uses price and volume to assess the power behind a move showed no down spike when the price opened lower 5 days ago. So there was no volume behind the move and this is now siting above the center line. The price pattern looks a bit like a slim jim pattern to me which can cause fast moves in either direction, but with the annual results in a week and half I'm inclined to lean towards the upside at the moment. We will see if I'm right or wrong during the week.
Cheers

 

[TradeTheEasyWay]

AGLD - UK gold stock

Gap fill, 50 ema break, good fundamentals.

Entry 37.5
Stop: 35
target: 44 short term (49 long term)

How long can we keep these trades open ISA?

Mike

 

[isatrader]

How long can we keep these trades open ISA?

Mike

The timescale is anytime during the coming week, but it will be automatically closed at the end of this Fridays session if you haven't already done so yourself. So it can be for anything from a minute to a max of 5 days if you open it on Monday. Does that make sense?

 

[TradeTheEasyWay]

The timescale is anytime during the coming week, but it will be automatically closed at the end of this Fridays session if you haven't already done so yourself. So it can be for anything from a minute to a max of 5 days if you open it on Monday. Does that make sense?

yes, that's fine. Be good to have another thread for longer term buys or maybe consider adapting this one after a trail period? See how it goes.

Mike

 

[isatrader]

yes, that's fine. Be good to have another thread for longer term buys or maybe consider adapting this one after a trail period? See how it goes.

Mike

Yep, I like that idea. But I think for this thread it needs to limited to one week for the competition purposes. But I'll see how this one develops and then see if a longer term one would be possible as well. I think a longer term one would need a separate blog attached so that people could view the open positions and equity charts etc, so that would be a bit more complicated.

 

[isatrader]

Anyone wanting to join in this week, remember to get your pick in by the end of today. Instructions for submitting the pick are in the opening posts on page 1 of the thread. Here's the link:

http://www.trade2win.com/boards/swing-position-trading/116688-one-trade-week.html#post1404498

 

[chilltrader]

GBPUSD

Short @ (Limit) 16165
Stop @ 16240
Target @ 16010

 

[SlipperyC]

My trade for the week is another shot at the DAX.

I estimate that there is a big fib level around 7250/60 + resistance from years ago.

So, I am going for;

Limit short; 7250
Stop; 7290
Target; 6900.

 

[isatrader]

That's five players so far this week. I'll post the list later tonight or in the morning of all the trades, but we've got an interesting mix so far with 3 longs and 2 shorts.

 

[isatrader]

Week 2 Trades and Spreadsheet

It was a promising start last week, so lets see if we can carry it on and have another successful week and hopefully outperform the indexes this week as well, as last week they did almost 3 times better than the group over the week.

A quick rules refresher. You can adjust your entry price whenever you like on the thread before price hits your entry target. This goes for stops and targets as well. Once you are in a trade you can adjust your stop loss or target at any time and if you want to exit before it reaches your target simply type "EXIT" in a new post and you'll get the closing price from the 1 minute price bar in ADVFN. The winner will be the trade that produces the largest ATR adjusted percent gain. I've included the 200 day ATR on the attached spreadsheet at the end so you can see what percentage you'd need to achieve to get a 1% ATR adjusted trade.

The most important thing is to be specific when making changes or closing a trade, so that you get the prices you intended.

Ok here's this weeks trades:

Pat494
Barclays (LSE:BARC)
Direction: Long
Market order (will be filled at the open price on Monday)
Stop: 280
Target: 317

isatrader
Talvivaara Mining (LSE:TALV)
Direction: Long
Warehoused order: TBC
Stop: 569
Target: 638

TradeTheEasyWay
Allied Gold (LSE:AGLD)
Direction: Long
Limit order: 37.5
Stop: 35
Target: 44

chilltrader
GBPUSD (FX:GBPUSD)
Direction: Short
Limit order: 1.6165
Stop: 1.6240
Target: 1.6010

SlipperyC
Xetra DAX (DBI.DAX)
Direction: Short
Limit order: 7250
Stop: 7290
Target: 6900

Welcome to our new player chilltrader, and good luck everyone this week.

 

[isatrader]

Pat494 you are in BARC

Trade Details:
Barclays (LSE:BARC)
Direction: Long
Entry Price: 306.45
Stop: 280
Target: 317

Percentage Risk: 9.45%
Target Gain: 3.44%

Risk Ratio: 0.36

Daily ATR(200): 11.85