Spreadbetting Journal Trend Strategy

This is a discussion on Spreadbetting Journal Trend Strategy within the Trading Journals forums, part of the Reception category; Attached below is the current daily charts of the open positions I have except the VIX. Vedanta and Hecla Mining ...

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Old Nov 7, 2010, 4:51pm   #36
 
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Open Positions Charts

isatrader started this thread Attached below is the current daily charts of the open positions I have except the VIX. Vedanta and Hecla Mining would get an A+ grade for the trade if I closed them now, so I will be watching them closely on Monday as I dont want to see the 2.21% gain from last week evaporate, which could happen easily with Vedanta as it has a big daily ATR. So I may be tempted to take the profits on that one.

The S&P is very small position, so I will be looking to add to that on pullbacks to value if the up move continues. It is going to be a quiet week for data, so am hoping for less volatility and a continuing rally this week.
Attached Thumbnails
sp500_5-11-10.png   vedanta_5-11-10.png   hecla_mining_5-11-10.png  

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Old Nov 7, 2010, 5:18pm   #37
 
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Stock Watchlist

isatrader started this thread Ive been thinking about a new strategy that Id like to trial. Its a breakout strategy that looks for stocks that are breaking out above long term resistance of their previous highs. The thinking behind this is that once all previous resistance levels are cleared, then the stock is in a price discovery phase, with only technical resistance at Fibonacci levels and general market down swings to combat. As the majority of people in the stock are making money, so have less reason to sell.

So Ive used my buy signal indicator and scanned the market to find stocks in a current uptrend and then filtered out the ones that hadnt cleared their previous highs, and finally I filtered out the ones with bad balance sheets. Below is what Ive got left.

Amec (AMEC)
Antofagasta (ANTO)
Ashmore (ASHM)
Bhp Billiton (BLT)
Blackrock Wld (BRWM)
Domino's Pizza (DOM)
Fresnillo (FRES)
Hargreaves Lans (HL.)
Halma (HLMA)
Hochschild (HOC)
Petrofac (PFC)
Premier Oil (PMO)
Schroders (SDR)
Spirent (SPT)
Talvivaara (TALV)
Wellstream (WSM)

From looking at their charts, Im liking Amec (AMEC), Ashmore (ASHM), Premier Oil (PMO) and Halma (HLMA) the most. Oil had a good rebound this week and has lagged the commodities rally so far, so could be a good way to go for me via PMO or AMEC. AMEC looks a bit more overextended, so Id want a pullback on that one before getting in. Anyway, Ive created a watchlist portfolio on ADVFN, so I can see how they all perform with live prices in one place, and will maybe trade one or two this week if they set up right.
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Old Nov 8, 2010, 12:23am   #38
 
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Currencies update

isatrader started this thread The signals still look valid for AUD/USD, EUR/USD and GBP/USD. But Ive not managed to find a safe entry point yet. EUR/USD has pulled back very close to its value zone, so a possible entry point there. The other two are still moving away from my targets, but the value zones have moved to the previous resistance levels, so am hopeful that they will get a retest.

AUD/USD
Current value zone 8/11
11 Day EMA: 1.0025
22 Day EMA: 0.9940
Chandelier Exit: 0.9821
14 day ATR: 0.0113

EUR/USD
Current value zone 8/11
11 Day EMA: 1.4023
22 Day EMA: 1.3966
Chandelier Exit: 1.3865
14 day ATR: 0.0132

GBP/USD
Current value zone 8/11
11 Day EMA: 1.6092
22 Day EMA: 1.6001
Chandelier Exit: 1.5936
14 day ATR: 0.0117
Attached Thumbnails
audusd_signal_8-11-10.png   eurusd_signal_8-11-10.png   gbpusd_signal_8-11-10.png  

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Old Nov 8, 2010, 9:13am   #39
 
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Re: Vedanta Entry

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Originally Posted by isatrader View Post
Ive opened a position on the Vedanta Dec 10 Spread as it looks to me like a swing bottom is forming.

Entry Price: 2075.98
Qty: 0.5
Spread: 15.4pts

Stop: 2029
Limit: 2600

Account Risk: 0.58%
Potential Account Profit: 6.44%
Risk Ratio: 11.15

I hold this in my ISA portfolio as a medium term holding and has dropped around 10% from a recent high. So Im hoping it will be a good swing trade. Ive got a tight stop, so the risk is low. But could get stopped out quickly on this one if it breaks the recent low.
Ive closed the trade in Vedanta this morning for a good 11.64% move. I will still keep it in my ISA portfolio though as a long term hold. But I wanted to bank the 2.97% profit for my account, as the safezone stop loss was still only at breakeven. So, the risk was too high for me, even though I believe medium term it will go much higher.

Closing trade
Entry Price: 2075.98
Exit Price: 2317.64
Qty: 0.5 per point
Points: 241.66
P/L: 120.83
Trade Percentage: 11.64%

Daily Channel Captured: 59%
Trade Grade: A+

Account P/L: 2.97%
Attached Thumbnails
vedanta_exit_8-11-10.png   vedanta_exit_4hr_8-11-10.png  
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Old Nov 8, 2010, 2:44pm   #40
 
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EUR/USD Entry Zone

isatrader started this thread EUR/USD has got into my value zone. So as its too much risk for my account Im going to paper trade it.

Trade
Entry Price: 1.394
Stop: 1.3879
Limit: 1.4199
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Old Nov 8, 2010, 4:59pm   #41
 
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Hecla Mining Exit

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Quote:
Originally Posted by isatrader View Post
Ive gone long Hecla Mining using the Dec 10 spread at the US open today, as I was annoyed at being whipsawed out of my Randgold Resources position yesterday, which is now up considerably higher again today. Randgold was far too big for my account size, so I searched for gold miners that track the gold price closely and that were manageable in my account. Hecla seems to fit the bill and was on my watch list, so I decided to get in.

Entry Price: 724.2
Qty: 0.32
Spread: 6

Stop: 662.8
Limit: 900

Account Risk: 0.48%
Potential Account Profit: 1.38%
Risk Ratio: 2.86

Hecla Mining has surged higher for 3 days now and has gained an A+ grade. So although my target was 900, Im happy to take profits here, as a 13.67% percent move in 3 days has the chance of reversing just as quickly if gold stalls at its long term resistance line.

Closing trade
Entry Price: 724.2
Exit Price: 823.2
Qty: 0.32 per point
Points: 99
P/L: 31.69
Trade Percentage: 13.67%

Daily Channel Captured: 66%
Trade Grade: A+

Account P/L: 0.78%
Attached Thumbnails
hecla-mining_entry_4-11-10.png   hecla_mining_exit_8-11-10.png  
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Old Nov 8, 2010, 9:17pm   #42
 
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S&P 500 Long Exit

isatrader started this thread Think I bought this one too high away from the 100 bar EMA, so am exiting at breakeven and going to wait for the next decent pullback to get back in.

Closing trade
Entry Price: 1220.3
Exit Price: 1220.3
Qty: 0.5 per point
Points: 0
P/L: 0

Daily Channel Captured: 0%
Trade Grade: C-
Attached Thumbnails
sp500_exit_8-11-10.png  
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