Marc Rivalland - Swing Trading

This is a discussion on Marc Rivalland - Swing Trading within the Swing & Position Trading forums, part of the Methods category; I have been using Marc's techniques for over a year, mostly on FTSE100, sometimes on DJIA. Trading these following most ...

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Old Jan 26, 2005, 12:57pm   #11
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I have been using Marc's techniques for over a year, mostly on FTSE100, sometimes on DJIA. Trading these following most of his rules is giving me a profitable and steady 60-65% success rate. But I feel from post mortems after trades that a more disciplined use of his rules than mine to date would raise this figure.
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Old Jan 26, 2005, 1:09pm   #12
 
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tomorton,

I have just started trading the FTSE, is it just my imagination that we had a continuation of trend signal yesturday at 4796.5. I got in there and I'm currently running a decent profit, although at the time of writing today is threatening to form a doji, although it is dangerous to predict candles before they actually form.

Anyway, I was just wondering if you were in the trade as well, or if the whole signal was my imagination. There's no help from Marc's website as he last updated on the 21st, and that was before the signal.
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Old Jan 26, 2005, 3:07pm   #13
 
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Quote:
Originally Posted by danfreek
tomorton,

I have just started trading the FTSE, is it just my imagination that we had a continuation of trend signal yesturday at 4796.5. I got in there and I'm currently running a decent profit, although at the time of writing today is threatening to form a doji, although it is dangerous to predict candles before they actually form.

Anyway, I was just wondering if you were in the trade as well, or if the whole signal was my imagination. There's no help from Marc's website as he last updated on the 21st, and that was before the signal.
danfreek

This is my take. The last swing low looked a bit suspect at the time in view of the messy action - it's not looking too bad now, but we do need to make a new high.

good trading

jon

ps: some of the text boxes seem to have got shifted over a bit as it whizzed through the ether, but I think it's clear enough.
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Old Jan 26, 2005, 6:18pm   #14
 
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Quote:
Originally Posted by barjon
danfreek

This is my take. The last swing low looked a bit suspect at the time in view of the messy action - it's not looking too bad now, but we do need to make a new high.

good trading

jon

ps: some of the text boxes seem to have got shifted over a bit as it whizzed through the ether, but I think it's clear enough.
Cheers Barjon,

So I was right about the swing low. That's reassuring, the doji today (It did turn out to be a doji in the end) is going to make me a bit more cautious about the continuation of the trend, although this is just a personal thing as I like to integrate candles into any trading method. As you said though, I would like to see a new high breaking the 4855 level as this looks like important resistance on both the weekly and daily charts. Maybe today's doji was just a pause for consolidation before making the push into new highs? I will be watching the markets tomorrow for sure.

As I am sure you can tell, I still have a lot to learn.
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Old Jan 26, 2005, 7:38pm   #15
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OK, Iíve just had a look at Marc Rivallandís website: hereís what heís saying about UKX right now:

1. Current trend - Up since breach of 4756 on 22.12.04.

2. Last signal - 22.12.04 Change of trend signal on breach of 4756.

3. Point at which trend will change - 4674.

Iíve attached some swing charts (oneís on a black and the other on a colour printing background) and in my opinion these charts are a fair representation of what Mr. Rivalland was looking at at the time he made his ďcallĒ on FTSE.

So, I agree with Mr Rivalland and it seems to me that the trend is UP, although all errors and omissions, etc are entirely my own.

HTH

Cheers

Mayfly
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Old Jan 27, 2005, 8:36am   #16
 
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I do know that Marc uses Updata, so he probably was looking at very similar charts to the ones you show. I've moved my stop to entry and I'm watching todays action following on from yesturdays doji to see if it was consolidation or reversal.

Cheers for all your help guys.
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Old Jan 27, 2005, 8:57am   #17
 
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I did enjoy reading the book but having taken a few notes, I found I no longer required it. A lot of the book was about P&F charts and I have lots of information on that subject. So I sold it on Amazon for just a few £'s less than the purchase price. I haven't been able to trade this method, as looking back at charts there were time when I could see lots of trades and not much profit. I did try to follow the signals for a while but I don't think the method suits me.

I prefer the "Trading Day by Day" book http://www.trade2win.com/boards/educational-resources/12501-trading-day-day-chick-goslin.html but it is early days and that one might end up on its way to Amazon at some point. I don't like putting up book shelves
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Old Jan 27, 2005, 9:21am   #18
 
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I've got a copy of trading day by day in the post on it's way to me in the post, I hope that it's as good as everyone says!

Marc does use a relatively long timeframe from the point of view of a lot of people here. I like to use lots of methods in my trading and I find his method useful for finding good places to enter established trends.
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Old Jan 27, 2005, 9:24am   #19
 
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danfreek

how do you exit?

good trading

jon
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Old Jan 27, 2005, 10:02am   #20
 
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I use several different methods to exit depending on the type of trade. If it's an intraday trade, then I set a profit target and close my position when it is hit. I don't like to hesitate on a short timeframe, so that's quite simple. I only take trades with a 3:1 risk reward ratio or better.
On a swing trade I use the price action to guide me. I don't like to close trades out myslef in a swing trade, instead I use stops set at an appropriate point for the candle and indicator signals that I use. If the price wants to continue in the direction of my trade, then I let it, but if it reverses on me then I get stopped out.

This is a very brief summary of my exit strategy, but if you want to dicuss strategies with me, then please PM me, I'm happy to talk about it. that applies to anybody btw, not only barjon
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