One Trade a Week

[isatrader]

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

Yep, you get the closing price for the week if you don't exit, which was 38.5, so the closing details are:

Closing Trade

Entry: 37.5
Exit: 38.5

Percentage Gain: 2.67%

ATR Adjusted Percentage Gain: 1.14%

Well done Mike, a good trade and this weeks winner.

I'll post the spreadsheet table with all the trade details and index comparisons tomorrow.

 

[isatrader]

Week 2 Results

Attached is the results of week two, 4 winners (1 just above breakeven), and 1 loser this week. It was a good win for TradeTheEasyWay this week capturing a nice 2.67% profit, which equalled a 1.14% ATR(200) adjusted gain. That means that TradeTheEasyWay captured just over a full days average price range for Allied Gold (AGLD.L). This was the best result this week and was better than the S&P 500 Index which managed a 1.03% ATR(200) adjusted gain over the week. So well done mike

The group as a whole made a 1.32% gain this week to add to last weeks 1.65% gain, which matched the S&P 500 weeks performance and outperformed the FTSE 100. So we are at +2.97% so far.

So keep it up everyone and lets have another profitable week next week.

Remember to get your trade in for next week by Sunday night.

League Table

Name_________Points
isatrader___________3
TradeTheEasyWay____3
Pat494_____________2
chilltrader__________1
SlipperyC___________0

 

[Pat494]

Name Barclays Bank Ltd
Ticker Barc.L
Current price 311.85
Market
long
Exit 317
S/L 280

I will go with Barclays again

 

[isatrader]

Week 3 Pick

Order Type: Limit

Ticker: MLC.L
Direction: Long

Planned Entry: 573

Stop loss: 553
Target: 603

Percentage Risk: 3.62%
Potential Reward: 5.24%

Risk Ratio: 1.45

ATR (200 Day): 15.13 (2.60%)
ATR (52 Week): 35.25 (6.05%)

Company:
Millennium & Copthorne is the international hotel arm of the Hong Leong Group Singapore and operates nearly 90 four and five star hotels. It is Singapore’s largest hotel chain and the 40th largest hotel group in the world.

Entry Reason:
Price action has consolidated during the last month and it found support around the 550 level. The Kijun Line was breached to the upside on Thursday with a Piercing Line candlestick and price closed above it again on Friday, although there was a fairly big sell order at the end of the day. This is a new strategy I'm experimenting with, but the basic strategy is to look for stocks that are above the bulk of resistance and moving through the kinjun line after consolidating for a bit from making a new high to give me a small selection to look at. Then using all my normal methods to make the final decision.

I'm a little bit wary of this one as it has results on 16-Feb-2011, so it might only be a two day trade if I get a fill on Monday.

The 52 Week High is 604.50, so I'm going for a retest of that level.

The average daily true range is 2.60%, so I'll be aiming for 2 x ATR gain, which is a 5.20% profit.

Below is the charts

 

[isatrader]

Weekly Percentage Results list

I've added a percentage results table so people can see how they are doing individually on a percentage basis. It's not in any particular order.

 

[TradeTheEasyWay]

Hi Traders,

I see where you are coming from ISA but the last weeks weekly is inside the preivious week's bar. Good luck, I will watch it too.

My trade this week is: EURCAD

entry:
pull back to 1.3441
stop: 1.3642
Target 1.2770

Mike Hamilton

 

[isatrader]

Yep I agree, it's not my favourite pick I've had. I struggled to make my selection this week, was nothing jumping out at me, so may be a quick one this time.

 

[SlipperyC]

Order Type: Limit Buy, DAX

Direction: Long (I know, I know!!)

Planned Entry: 7350

Stop loss: 7255
Target: 7500


Entry Reason:
After getting the shaft last week from a mistimed/mis-thought DAX short, I'm going along with the breakout from the recent trading range with a limit buy at 7350 (recent resistance).

I believe the DAX may hit 7400 on Monday, retrace to test new support at 7350 area, perhaps consolidate, then run up to 7500.

Goes against the grain because it looks ripe for shorting but have to continually remind myself of the popular quote "the market can remain irrational a lot longer than I can remain solvent" or something like that.

 

[isatrader]

Quick question SlipperyC, why the different sad faces on the Titles each week?

 

[isatrader]

Remember tonight's the deadline for any trades for this coming week as the competition starts at midnight (BST). Info for how to submit picks can be found in the opening post of the thread.

 

[pingvin123]

OK, I'll try to play, too.

Ticker: GBP/JPY

Planned Entry: Pending order to BUY at 132.4
Stop loss: 131.6 (80 pips)
Target: 134.9 (250 pips)
Risk Ratio: 1:3

Entry Reason: Price is in bullish mode, but bounced down from major resistance at 134.23. It is unlikely in my oppinion that it will just shoot up, more probable scenario is retrace to 132.4 - which is 38,2 fib retracement, major pivot, 153 EMA and 20 EMA coming in to support and a Trendline. Good luck!

 

[isatrader]

Nice one pingvin, I'll add you to the spreadsheet and set up the alerts. Quick rules reminder as you are playing for the first time. You can change your entry at any time during the week up until you get a price fill and you can also change your stop and target at any time. To enter at the market price do a quick post saying "enter" and to exit do a quick post saying "exit" and I will give you the closing price on the one minute bar that your post was recorded at. Good luck

 

[SlipperyC]

Quick question SlipperyC, why the different sad faces on the Titles each week?

Wasn't aware that I had! Sad one this week because I feel disappointed in myself for falling to the bottom of the 'league table'!

 

[isatrader]

You can make it back up the table. You are only -0.21% down after the first two trades. It will come.

 

[isatrader]

Week 3 Trades Spreadsheet

Ok, here's the list of this weeks picks. If anyone gets a late entry in then I can edit the list and repost but I thought I'd get it done while people were still online.

I've added a few more columns to help people with their trades. I've added the weekly ATR column so you can see a full weeks price range in your chosen product and I've also added columns for ATR targets of 1, 1.5 and 2 so that you know what to aim for.

Anyway good luck everyone, I hope we have another profitable week for the group

 

[isatrader]

Pat494 you are in BARC at the open price of 315

Trade Details:
Barclays (LSE:BARC)
Direction: Long
Entry Price: 315
Stop: 280
Target: 317

Percentage Risk: 12.5%
Target Gain: 0.63%

Risk Ratio: 0.05

Daily ATR(200): 11.70 (3.71%)

Let me know if you want to adjust your target price Pat, as is very close to your entry point.

 

[Pat494]

Pat494 you are in BARC at the open price of 315

Trade Details:
Barclays (LSE:BARC)
Direction: Long
Entry Price: 315
Stop: 280
Target: 317

Percentage Risk: 12.5%
Target Gain: 0.63%

Risk Ratio: 0.05

Daily ATR(200): 11.70 (3.71%)

Let me know if you want to adjust your target price Pat, as is very close to your entry point.

yes thanks
Target 325

 

[isatrader]

yes thanks
Target 325

Ok, it is done, adjusted details below:

Trade Details:
Barclays (LSE:BARC)
Direction: Long
Entry Price: 315
Stop: 280
Target: 325

Percentage Risk: 12.5%
Target Gain: 3.17%

Risk Ratio: 0.25

Daily ATR(200): 11.70 (3.71%)

ATR Targets:
1 x ATR(200): 326.7
1.5 x ATR(200): 332.55
2 x ATR(200): 338.4

Good luck Pat

 

[isatrader]

enter

 

[isatrader]

enter

The entry price at 3.26pm was 584. Didn't get the entry area I wanted so risk reward isn't great, but I not sure whether I want to be in this through earnings on Wednesday, so will see how it goes tomorrow.

Trade Details:
Millennium & Copthorne Hotels (LSE:MLC)
Direction: Long
Entry Price: 584
Stop: 558
Target: 603

Percentage Risk: 4.66%
Target Gain: 3.25%

Risk Ratio: 0.7

Daily ATR(200): 15.13 (2.59%)

ATR Targets:
1 x ATR(200): 599.13
1.5 x ATR(200): 606.70
2 x ATR(200): 614.26