Swing and Position Trading

This is a discussion on Swing and Position Trading within the Swing & Position Trading forums, part of the Methods category; Originally Posted by barjon bracke Use mainly ftse 100. No set method of selection just a visual scan each week ...

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Old Oct 12, 2004, 4:30pm   #16
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Originally Posted by barjon
bracke

Use mainly ftse 100. No set method of selection just a visual scan each week paying particular attention to those near major support/resistance levels . I look for those who travel smoothly (not that they will do so in the future just because they have in the past) eg: avz was particular good both on the way up and on the way down before it got a bit volatile due to the fine it incurred. gsk has been good recently.

jon
barjon

Thanks for the reply

Regards

bracke
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Old Oct 12, 2004, 7:04pm   #17
 
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Quote:
Originally Posted by techst@
.... And HG has a really nice tradeable trend (see attach.) What do you guys think of these two stocks BLND and HG?
Hi techst,

I EOD trade FTSE 350 stocks mainly using Elliott Wave analysis (or at least some form of it). I went long today on HG because it seems that we're at the end of an abc correction of the uptrend. I've attached a chart. (well, I hope I have - it's the first time I've tried to post a chart !)

I'd be interested to hear any comments.

Regards,
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Last edited by ivorm; Oct 12, 2004 at 7:08pm. Reason: Wanted to attach a better chart
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Old Oct 12, 2004, 9:39pm   #18
 
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Hg

techst started this thread For me, i look to buy within that circle on my chart. 270 looks like strong support, but the move up could run out of steam soon. Its funny that times when i look back and find a stock with a great uptrend by the time its established a good trend, its time for it to head south. Theres some MACD Divergence on my settiings but that may not stop you from catching an upward move. But when that moves over then this one may see a good retracement
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Old Oct 22, 2004, 7:50am   #19
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Hi, I too am interested in Swing Trading, and am about to start trading with the Marc Rivalland approach on the DOW and perhaps the FTSE. One problem I have come across though is inconsistencies with some of the charts available on the Web. I was using www.bigcharts.com, but then I noticed that the highs and lows shown by their candlestickes were wider than the quoted highs and lows for those days!! Does anyone have an explanation, or a better source of charts!!
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Old Oct 22, 2004, 8:25am   #20
 
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You cannot trade on charts of indices. You need to follow the futures charts as that is all you can trade in reality.

It should also be pointed out that volatility is less since Marc published his book. The FTSE has been virtually untradeable for over a year and the Dow might not be as easy now as the book suggests...

That said I do rate the book and see him as a genuine chap.

Bigcharts calculates the highs and lows based on the low price and high price of every stock during the day despite the fact they don't occur at the same time.

That is why the high is always higher than reality and visa versa.

The cleanest data is available from www.downloadquotes.com

JonnyT
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Old Oct 22, 2004, 8:31am   #21
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JT,
knowing your methods this might be an academic question ,but have you tested that data to form that view "cleanest" ? .. . ..thanks for the link
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Old Oct 22, 2004, 10:07pm   #22
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Thanks Jonny. I take your point re. volatility, is that why Forex seems so popular to trade? Is Forex amenable to Swing Trading using Marcs approach as well?

Cheers, Paul.
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Old Oct 22, 2004, 10:34pm   #23
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The FTSE has been virtually untradeable for over a year and the Dow might not be as easy now as the book suggests...
Having been trading indices for the last 4 years, I must say that I'm inclined to agree with Jonny about this, albeit that I don't quite match his succinct and forceful turn of phrase ... the FTSE has certainly been "difficult" for the last year or so, and the Dow is certainly not as easy as the book suggests. I'm increasingly looking to the Dax and the S&P, but also trying to learn new tricks and broaden my trading interests.
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Old Oct 24, 2004, 2:30pm   #24
 
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Hg

techst started this thread Lets have a little up date on that chart. Any comments guys? Where did that ABC correction go ivorm?
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Old Oct 28, 2004, 4:11pm   #25
 
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CW and BAY

techst started this thread These two stocks are looking great at the moment. It looks like the recent downtrends are running out of steam. The chart shows the strength of the MACD Divergence on both charts. If im not mistaken the weekly MACD's and Histograms are in gear too. Confirming as Elder says ' a more dynamic move'. I dont currently have positions in these stocks but im seriously considering these. And in prehaps a day or two i'll pull the trigger. Any thoughts people? I might even turn these two into a live and up dated 'anatomy of a trade' if i get any interest. Hopefully some viewers will come out of the woodwork and discuss there views on these.
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Old Oct 28, 2004, 4:54pm   #26
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Originally Posted by techst@
These two stocks are looking great at the moment. It looks like the recent downtrends are running out of steam. The chart shows the strength of the MACD Divergence on both charts. If im not mistaken the weekly MACD's and Histograms are in gear too. Confirming as Elder says ' a more dynamic move'. I dont currently have positions in these stocks but im seriously considering these. And in prehaps a day or two i'll pull the trigger. Any thoughts people? I might even turn these two into a live and up dated 'anatomy of a trade' if i get any interest. Hopefully some viewers will come out of the woodwork and discuss there views on these.
Emerging carefully from the woodwork and with the usual caveats I venture the following.

I am not a devotee of indicators so I cannot comment on the MACD'S etc. My interest is price/volume in which I am slowly gaining more knowledge.

I have looked at the charts for both of these companies (British Airways and Cable & Wireless) and am struck by their similarities. Lower lows and lower highs both appear to have found support BAY at 200 & CW at 100. Appear is the operative word. I am not convinced that the support will hold. I would want to see them moving up on reasonable volume before I purchased.
A look at the 2 year charts for these companies illustrates the levels they can fall to.

I look forward to reading other views

Regards

bracke
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Old Oct 28, 2004, 7:58pm   #27
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Originally Posted by techst@
These two stocks are looking great at the moment. It looks like the recent downtrends are running out of steam. The chart shows the strength of the MACD Divergence on both charts. If im not mistaken the weekly MACD's and Histograms are in gear too. Confirming as Elder says ' a more dynamic move'. I dont currently have positions in these stocks but im seriously considering these. And in prehaps a day or two i'll pull the trigger. Any thoughts people? I might even turn these two into a live and up dated 'anatomy of a trade' if i get any interest. Hopefully some viewers will come out of the woodwork and discuss there views on these.
looking good - maybe a retest of the TL from above before they finally rally. Didnīt like the last candle (BAY) so no hurry I guess. Otherwise they should have found their bottoms.
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Old Nov 11, 2004, 3:52pm   #28
 
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CW and BAY

techst started this thread Just updating this thread with the current unfoldings of the two charts i posted. I've been in and out of BAY. I got in at a terrible price as i traded by phone mid-day and didnt have the use of a chart for the days candlestick. I then exited at 27.25 making a 5% profit, or 50% profit but that depends how you look at it with the CFD leverage. I was trading other stocks and aswell and i may have been over exposed if i'd added another position in CW, damn money management! I'll post some other great moves that may unfold in the near future, if theres an interest. Some might fell that its not a great idea to show others your setup and strategy but i think whats more important is the way you handle your own stragegy. any thoughts?
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Old Nov 11, 2004, 4:19pm   #29
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My greatest concern about swing trading individual shares is the relative lack of volatility and the huge spreads quotes by SB cos. You're using CFDs so maybe this is not such an issue. If you are still trading using (Elder) type methods then then should be manu similarities in our styles - I would be interested to see posts describing your trades should you be good enough to post 'em.

Cheers

FN
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Old Nov 11, 2004, 4:35pm   #30
 
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techst started this thread Fastnet, i got in BAY on the 28/10/04 (see the graph style chart above). And was out 5/11/04 and out at 227.5 which was the high for the day. I was lucky enough to have the evening free to watch the intraday action to time my exit well. I make sure the stocks i trade have a minimum of 8 to 10% swing in there price move, from channel to channel. I do take into account that I'm not gonna get in at the very bottom and out get out at the highest price in the channel, that would be wishful thinking. Some people wonder why the trades that they dont put on do well, but i know thats coz im looking at where i would have like to of got in and where the perfect sell point was. I dont see the huge spreads you mentioned as the company i use try to match the market. I like mainly FTSE100 companies coz there liquid.
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