The Trading Game - Oct 2013: Week 1

[VielGeld]

Hmm... Let's give this a shot.

Long SPX 500 @1679.6.

Target is 1690, SL 1670.

I figure a bottom was put in at noon today (err... 5pm for you Brits?). Should be going back up after that.

 

[wackypete2]

(err... 5pm for you Brits?)

We need to stick together on this side of the pond!

Peter

 

[postman]

Ok here goes.
My trade is a simple channel the Dow cash is in at the moment, the chart posted is a daily. The Dow is going down and looking for a place to stop, the channel shows this to be under 15,000 in the next few days. I have added a horizontal bar at around 14,922 to show a daily gap open left from the 6th September which also lends weight to the target value.
Entry today 3rd Oct between 2pm and 6pm at the best price I think I can get, hopefully over Wednesdays close 15,133. I will post the entry point when I make it.
If I don't like the strength of the Dow at the time (ie US budget resolution, Dow shoots up, I wont make the trade).
Exit criteria around 14,922, I'm expecting this Thursday or Friday. Again will post exit value at the time.
Stops - its a 200 point move so I will have a small position with a 50 point stop which I will move to break even as soon as practical.
Its all so simple - what could possibly go wrong.
Now we do what every trader LOVES to do - we wait.

So - this was a trade that I did not enter, and that is a valid trade. Doing nothing when your entry criteria are not met is a good thing, otherwise whats the point of setting up trades if your just going to enter at random levels.
It was close - We almost hit the entry and exit points and I was looking for a major move within 2 days. 25 points off the low on a 150 point move. Still I didn't lose money and there's always tomorrow.

 

[wackypete2]

So - this was a trade that I did not enter, and that is a valid trade. Doing nothing when your entry criteria are not met is a good thing, otherwise whats the point of setting up trades if your just going to enter at random levels.
It was close - We almost hit the entry and exit points and I was looking for a major move within 2 days. 25 points off the low on a 150 point move. Still I didn't lose money and there's always tomorrow.

Good points. Something that should be considered by members when voting.

Peter

 

[NVP]

Hey all

ok heres a Trade ......I will take it here although in truth it was a signal way before this on my systems

my entries are purely based on relative currency strengths so I dont do price entry levels ...but I have explained the trade a little here today on my thread ...once the Yen and USD were both below the zero line on both charts I would have got a signal to trade something

http://www.trade2win.com/boards/for...-basic-ideas-strategies-1490.html#post2197488

theres a S/L and a TP target there........back of the envelope as my systems entry/exits are all based on individual price relativity and not "hard" pairchart prices

anyone else in the game ?
N

finally got a good look at my call on this trade ......

I was late to the table...but still called the buy

then clearly didnt give myself enough room on the S/L.....(should have been at least the low of the entry bar NVP ?)

there you go.....2 lessons for the price of one failed trade

N

 

[ffsear]

Sell CAD/JPY - 94.30 - SL 94.75


I want to ride what appears to be a developing trend here. I use the 200, 72 and 12 EMA's to help me identify trends. I like to see price pull back to the 72 (the 3 day average) and the break back below the 12 ( 1 trading session average), which it has done nicely in this case. Note the 72 ma also lines up nicely with a current s/r zone.

Looking to the daily chat, i see price is not near any major swing points ( which to me are trouble areas) meaning that price has got room to move.... Hopefully!

View attachment 166686

View attachment 166688

Stop loss moved to break even

 

[ffsear]

stopped out break even (*punches screen)

 

[Pat494]

No winners yet .............but you never can tell what's around the bend.

What's the requirements for Strickly ? Style and something ?

 

[VielGeld]

Hmm... Let's give this a shot.

Long SPX 500 @1679.6.

Target is 1690, SL 1670.

I figure a bottom was put in at noon today (err... 5pm for you Brits?). Should be going back up after that.

SL set to +1 (1681), and TP will be today's close for now, whatever that is. I'm letting this one run.

 

[VielGeld]

Hmm... Nope. I'm taking it here at 1688.1 for +8.5 points.

It almost didn't work out, but my stop was large enough to allow for a small pullback and ultimately make it a nice trade. I entered this one too early, though. Should have waited a bit, but eh, can't complain.

 

[Pat494]

Well that was the week that was.
I am supposing that when the voting page comes one can't vote for oneself ?

One would have made money fading all the forecasts except Vielgeld's !!

 

[Sharky]

Here are the results from week 1:

1. postman (2 votes) = 10 points
2. NVP (1 vote) = 8 points
3. bustech (1 vote) = 6 points
4. pat494 (1 vote) = 4 points
5. ffsear (1 vote) = 2 points

Postman was the only player to get two votes. The other players all received one, so as per the rules they were awarded in the order in which they posted their trades.

Congratulations to the those 5 players, and a big thank for taking part.

If you have any suggestions for how to improve the game then feel free to post them on the original announcement here: http://www.trade2win.com/boards/t2w-announcements/179522-trading-game.html

Week 2 is already underway, enter now and don't forget to vote for the trades you like...
http://www.trade2win.com/boards/t2w-announcements/179808-trading-game-oct-2013-week-2-a.html

 

[postman]

I'm long Dow cash 14922. I will add the reasoning later.

 

[postman]

I'm long Dow cash 14922. I will add the reasoning later.

My previous trade ( http://www.trade2win.com/boards/t2w...ing-game-oct-2013-week-1-a-2.html#post2198558 ) was for the Dow to fall to 14922 (low today 14020.83) this was a combination of a channel low 1 hour chart (previously posted) and a gap from 6th Sep.
The trade today should take us on a slow path back up in that channel.
The exit point will be 15070 which is a support / resistance line I've had marked in on my chart for weeks. The exit period will be 1 to 2 days. ie Tuesday / Wednesday.
Given how low the Dow is (down 800 from 19 Sep) I dont expect much downside overnight, plus the 14920 level provides a double bottom. So reasonably tight stop of 40 points on this.
If it breaks the downside it could go down to 14770 again so I wont be quick to re enter.

 

[wackypete2]

Here are the results from week 1:

1. postman (2 votes) = 10 points
2. NVP (1 vote) = 8 points
3. bustech (1 vote) = 6 points
4. pat494 (1 vote) = 4 points
5. ffsear (1 vote) = 2 points

Postman was the only player to get two votes. The other players all received one, so as per the rules they were awarded in the order in which they posted their trades.

Congratulations to the those 5 players, and a big thank for taking part.

If you have any suggestions for how to improve the game then feel free to post them on the original announcement here: http://www.trade2win.com/boards/t2w-announcements/179522-trading-game.html

Week 2 is already underway, enter now and don't forget to vote for the trades you like...
http://www.trade2win.com/boards/t2w-announcements/179808-trading-game-oct-2013-week-2-a.html

1 of those votes was from a t2w admin...which causes all kinds of questions and issues including abuse of the "like" feature that someone else mentioned on another thread.

I have nothing against the winner or anyone who entered, congrats to all, but this is already going down the same road as the last contest.

Peter

 

[Pat494]

Sorry forgot to vote - next week

 

[postman]

...
The trade today should take us on a slow path back up in that channel.
The exit point will be 15070 which is a support / resistance line I've had marked in on my chart for weeks. The exit period will be 1 to 2 days. ie Tuesday / Wednesday.
Given how low the Dow is (down 800 from 19 Sep) I dont expect much downside overnight, plus the 14920 level provides a double bottom. So reasonably tight stop of 40 points on this.
If it breaks the downside it could go down to 14770 again so I wont be quick to re enter.

I guess I wont be winning this weeks vote.

 

[postman]

The trade today should take us on a slow path back up in that channel.
The exit point will be 15070 which is a support / resistance line I've had marked in on my chart for weeks. The exit period will be 1 to 2 days. ie Tuesday / Wednesday.
Given how low the Dow is (down 800 from 19 Sep) I dont expect much downside overnight, plus the 14920 level provides a double bottom. So reasonably tight stop of 40 points on this.
If it breaks the downside it could go down to 14770 again so I wont be quick to re enter.

Now if only I'd sold to my downside target of 14770

 

[Pat494]

Perhaps someone should gently remind postie that we are now into week 2. The shock of winning seems to have quite gone to his head ?

 

[postman]

Perhaps someone should gently remind postie that we are now into week 2. The shock of winning seems to have quite gone to his head ?

Hi Pat,
not quite sure what your post meant?
Week 1 I posted a trade sell Dow at 15130 - done.
Week 2 I posted a different trade based on the first one buy Dow at 14922.
I am quite clear we are in week 2, perhaps I have not been clear enough in my posts.