Charity Trading Account - Trades for 2/08/07

Please make suggestions for our Charity Trading Account (details here) for trades on 2/08/07.

Please abide by the following restrictions:

All trades must have an entry point
All trades must have an exit (target) point
All trades must be good for that day only (no rollovers to start with)
All trades must have a stop

No trades will be made in non-UK Equities or in Heating Oil or Natural Gas contracts.

The maximum stake will be £1 a point in indices, energy and metal commodities and Currency Markets. The maximum stake in all other contracts shall be £2.

Please suggest your stake along with your suggested instrument.

Please do not use this thread for anything other than trade suggestions. Irrelevant posts will be deleted without explanation.

Our thanks to Capital Spreads for setting up the account.

Good trading,

EK1

I will pass today. GBPUSD forming a contracting triangle/wedge thingy.
a breakout, but dont know direction.

(might be good to see what the current account value is, and trades taken, win/loss, etc
for each new day)

EDIT: options: OCO. good idea!

Can you do a oco Eamon? if not

Buy ftse cash @ 6311
with a
Sell stop @ 6265
That's to get into the trade. Whichever gets triggered. Sell stop 30 away, target 25 away

Trendie. That should go up m8.
If no one else is coming forward, work out targets and stops. It has to go somewhere doesn't it?

Trade order in for:

Buy ftse cash @ 6311
with a
Sell stop @ 6265

(might be good to see what the current account value is, and trades taken, win/loss, etc
for each new day)

Click to expand...

Yes that's on the list.
I'm gonna do a review either later today (if I get time) or in the morning.
Quick synopsis of where we are so far:
7 trades: 1 winner, 6 losers, starting bank £1,000 now at £811 (the winner was a small £5 winner which I placed in error, amazing :cheesy: )

Thanks

EK1

options said:

Trendie. That should go up m8.
If no one else is coming forward, work out targets and stops. It has to go somewhere doesn't it?

Click to expand...

I can see your logic. there is support, and yesterdays dip was to support and back.
but I thought upmove continuation patterns were triangles that drooped down, ie, falling traingle/wedge/pennant before a continued/measured-move upwards.
I dont see the triangle drooping down. and even if it did, the resistance point 2.0380 is too close if it bounced too quickly back.
(still fidgety and over-analysing when I look without indicators)

where are all the other traders?
good luck on your call.

Suggest short GBP/CHF
Sell £1 @ 24427
Stop @24477
Exit @24310

That's the problem with analysis. 2 people see different things.

I see it as a up continuation.

It'll let us know in its' own time.

I just wanted to say that I think this is a great idea and it is really good of Capital Spreads to do this.

bond_trader1 said:

I just wanted to say that I think this is a great idea and it is really good of Capital Spreads to do this.

Click to expand...

Yes, it is.

Just a shame more people aren't contributing right now (that's not a dig at anyone!)

while youre here rossored maybe you can chuck this one in the mixing pot:
spot euro
buy 1.3645
stop 625
tp 700

Yes it is a shame isn't it ?

Look at this:~

Index Value: 6,300.30

Change: +49.70 (+0.80%)

Prev Close: 6,250.60

Open: 6,250.60

Day's Range: 6,250.60 - 6,319.30

52wk Range: 5,658.30 - 6,754.10

That person who went long at 6311 on ftse cash has lost again if he did not scalp at 6319

It seems to us that there may be a real merit in making errors in spreadbetting.

SOCRATES said:

Yes it is a shame isn't it ?

Look at this:~

Index Value: 6,300.30

Change: +49.70 (+0.80%)

Prev Close: 6,250.60

Open: 6,250.60

Day's Range: 6,250.60 - 6,319.30

52wk Range: 5,658.30 - 6,754.10

That person who went long at 6311 on ftse cash has lost again if he did not scalp at 6319

It seems to us that there may be a real merit in making errors in spreadbetting.

Click to expand...

Will you be posting trades on the daily thread ?...it's for charity as you are aware.

cv

counter_violent said:

Will you be posting trades on the daily thread ?...it's for charity as you are aware.

cv

Click to expand...

No, because getting it right by making errors would do my head in.

You don't have to point it out, the fact that it is charity is very clear.

That's it...no more comment.

SOCRATES said:

No, because getting it right by making errors would do my head in.

You don't have to point it out, the fact that it is charity is very clear.

That's it...no more comment.

Click to expand...

next time you pick a fight you get an infraction. hope its clear.

SOCRATES said:

No, because getting it right by making errors would do my head in.

You don't have to point it out, the fact that it is charity is very clear.


The non typo error is observed and noted

That's it...no more comment.

Click to expand...

Don't call us...we'el call you...ta ta

That person did short it socco And he is fully aware that he played that day wrong because it turned into a sideways channel, but he recovered none the less, and bagged a bit of profit from it. He initially fcuked up didn't he. If only you had been here for him armed with your figures and nothing else. Who knows... he would have ignored you anyway. He trades his way... you do whatever you want.

That person is putting the charities money where his mouth is, and **** ups do happen. You can't see what that person can see. Can you? This is why there is a market. Are you saying that the market could not have gone higher? Then you are talking out your **** again. It was wrong conditions thats all. If dow futures tick up over 40 points ftse normally follows. In this case it didn't because it was caught in a sideways channel and the big boys were fading it.

Come on post a few trades for charity. After all it isn't your money is it. Its' not even paper money this time Bertie is it?

Oh and if you noticed there were 2 bad trades before wasn't there? Could it be the difference between that persons charting and the pricing and the one the trades are placed on? Maybe if it had been the same. That persons stop would not have got triggered and the trades would have been in profit because they both turned and went to bang on target. The stops were simply wrong for the other charts. That's it nothing else they were spot on calls. So stop sniping Mr motor mouth and give us some trades. Or are you frightened of getting it wrong?

How do we find out what trade was taken and whether it won or lost?

I don't see this anywhere...sorry if I am missing something obvious...

Hi bond trader , just updating now...

EK1

OK, Thursday's action.

Thanks to Options for his valuable input and trades.

12.28 buy 1 FTSE @ 6311
15.48 stopped @ 6287
Loss = £24

15.59 sell 1 @ 6286
16.11 cover @ 6270
Profit = £16

Tough day but we got some back, could be the start of our positive run.

Must admit it's been tougher to manage than expected but we are very thankful to those who have contributed trades even if they were not selected.
Best time to add a possible trade is usually between 8.45am and 9.30am, as the account is not monitored constantly during the day.

So far there have been 9 trades:
6 losers, 2 winners (1 an error trade), 1 breakeven
Starting bank of £1,000
Bank today = £803

Attached image of trades taken so far.

EK1