One Trade a Week

[isatrader]

Closing Trade

SlipperyC, The DAX hit your stop loss at 7310 @ 10:35am

So therefore:

Entry: 7250
Exit: 7310

Percentage Gain: -0.82%

ATR Adjusted Percentage Gain: -0.59%

Attached is the 5 minute chart

 

[SlipperyC]

Thanks isatrader.

Was always wary of the spike. It just went a little higher than I expected!

 

[isatrader]

Thanks isatrader.

Was always wary of the spike. It just went a little higher than I expected!

When you get time during the week, post a chart with the your entry and exit marked on it and little explanation of the trade if you can?

As I think it would be good if people review their trades after they are closed if they want to and useful for all of us to learn.

 

[isatrader]

SlipperyC and chilltrader were stopped out today for a loss and a small profit, below is the 3 remaining open positions for this week.

Open Positions

isatrader
LSE:TALV
Current Percentage 1.93%
(ATR Adjusted Percentage 0.73%)

Pat494
LSE:BARC
Current Percentage 2.58%
(ATR Adjusted Percentage 0.67%)

TradeTheEasyWay
LSE:AGLD
Current Percentage -2.00%
(ATR Adjusted Percentage -0.85%)

 

[Pat494]

Exit

better take the profit while its on offer

 

[SlipperyC]

Here's a chart of my weekly trade for week beginning 7th Feb 2011.

It as a short on the DAX index. The initial strategy was that the DAX was looking overbought and nearing what I estimated to be a 161.8% Fibonacci target from the current range of approx 7030 - 7170 as well as historic resistance from around 2008.

Yes, the trend was up. But, I took a chance on a reversal and entered quite an aggressive short position.:|

Hindsight;
Probably should have either;
a) gone long from Monday open if I thought the fib level would be hit, or
b) entered a short from a level which was close to both the fib and a round number (7300 in this case).

Any thoughts - apart from the obvious?

 

[isatrader]

Exit

better take the profit while its on offer

Just to confirm Pat, as the markets closed if you exit now you'll get the opening price in the morning.

So let me know know if you don't want to close it before the market opens tomorrow as is there is time to change your mind still. Cheers

 

[isatrader]

Here's a chart of my weekly trade for week beginning 7th Feb 2011.

It as a short on the DAX index. The initial strategy was that the DAX was looking overbought and nearing what I estimated to be a 161.8% Fibonacci target from the current range of approx 7030 - 7170 as well as historic resistance from around 2008.

Yes, the trend was up. But, I took a chance on a reversal and entered quite an aggressive short position.:|

Hindsight;
Probably should have either;
a) gone long from Monday open if I thought the fib level would be hit, or
b) entered a short from a level which was close to both the fib and a round number (7300 in this case).

Any thoughts - apart from the obvious?

Thanks for putting up the chart, it helps to see the trades in a visual way. My only thought which might be an obvious one, is that maybe you shouldn't have used a limit order and should have used a warehoused order instead and waited to gauge the price action a bit first before putting on your trade. As the price action in the first hour might have given you pause.

 

[Pat494]

Just to confirm Pat, as the markets closed if you exit now you'll get the opening price in the morning.

So let me know know if you don't want to close it before the market opens tomorrow as is there is time to change your mind still. Cheers

Thanks but a profit is a profit until it turns into a loss imho

 

[isatrader]

Thanks but a profit is a profit until it turns into a loss imho

No worries. I'll get the opening price in the morning for you and then post the closing trade details. It was a good trade, well done Pat.

BARC.L has caught my eye as as possible longer term trade as it has broken above the weekly down trend line, but I can see some short term resistance on the daily charts so I'm going to keep my eye on it.

 

[isatrader]

BARC.L Exit

Closing Trade

Pat494 chose to exit BARC.L at the open today which was 315

So therefore:

Entry: 306.45
Exit: 315

Percentage Gain: 2.79%

ATR Adjusted Percentage Gain: 0.72%

Well done Pat, another good trade

 

[isatrader]

TALV.L - move stop up 602

 

[isatrader]

TALV.L - move stop up 606

 

[isatrader]

Positions Update

Pat494 exited at the open today for a good profit, below is the 2 remaining open positions for this week.

Open Positions

isatrader
LSE:TALV
Entry Price: 594.5
Current Price: 622
Current Percentage: 4.63%
(ATR Adjusted Percentage 1.76%)

TradeTheEasyWay
LSE:AGLD
Entry Price: 37.5
Current Price: 38.25
Current Percentage: 2.00%
(ATR Adjusted Percentage 0.85%)

There's two days left, so is going to be a close one this week.

 

[isatrader]

Closing Trade

Annoyingly, TALV has hit my stop loss at 606 @ 15:54pm, just as the market is turning around on the Egypt news. I think if it had held out for another 30 mins that I would have been alright tomorrow, as the selling has been all market related, and the volume today has mostly been positive on TALV. Oh well, I'm still in my actual trade which has a looser stop loss. In hindsight, I probably should have took profits this morning when it was over 5% up, but the lack of selling volume convinced me to hold out for more. :whistling

So therefore:

Entry: 594.5
Exit: 606

Percentage Gain: 1.93%

ATR Adjusted Percentage Gain: 0.73%

That just leaves Mikes position open in AGLD.L which is currently winning at 38.5, so it's up 2.67% (1.14% ATR adjusted).

 

[TradeTheEasyWay]

I like the gold and Allied Gold daily weekly charts so I'll take this one up to or close to the line.

I had a rubbish trade last week so let's hope this one works out ok.

Mike

 

[isatrader]

I like the gold and Allied Gold daily weekly charts so I'll take this one up to or close to the line.

I had a rubbish trade last week so let's hope this one works out ok.

Mike

Ok, good luck Mike.

As it stands today, the group average for the week is 1.32% which is outperforming the S&P 500 and FTSE 100 average which is 0.52%. So looks like we're going to have another positive week.

 

[TradeTheEasyWay]

I had a spare moment so thought I would put this up. Looking for a good close tomorrow to take this weeks 'trophy'.

Will find a good forex entry next week. Most of these UK stocks are paint drying exercises.

Mike Hamilton

 

[isatrader]

I would recommend not trading something with such thin volumes. Try and find stocks in the FTSE 350 or S&P 500 Stocks maybe so that you have enough liquidity during the day. AIM stocks are too thinly traded really IMO.

 

[TradeTheEasyWay]

AGDL closed flat at 38.5 so small profit. Presume we can just count the Friday close? Didn't have time to log on here during trading.

Mike