Let's Play the US Markets

This is a discussion on Let's Play the US Markets within the Trading Journals forums, part of the Reception category; Hi Everyone, I see this is still getting some attention and I'm trying to see it from everyone's point of ...

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Old Dec 12, 2010, 11:34am   #46
Joined Oct 2010
Re: Let's Play the US Markets

NickElliott started this thread Hi Everyone,

I see this is still getting some attention and I'm trying to see it from everyone's point of view... I am sorry for posting a link to the blog and I've promised not to do it again... I think we've established everything that needs to be said in terms of what my intentions are here and I agree that given time I'm going to be exposed pretty quickly if something seems out of the ordinary! How about I give the outline of what's going on here again

1. Objectives

I want to achieve or start achieving 5% per month from my trading activity.

2. Markets & Instruments

The US Markets (NYSE or NASDAQ) trading stocks only (not ready for futures or options). Will start by tracking 10-15 stocks but if I get confident this could rise. Looking for high volume trades priced between $10 - $100 which have a nice technical pattern.

3. Style

I will be swing trading because I am in full time work at the moment. Mostly I'll be be doing some homework between 1pm - 2pm each day and will look to place one or two trades a week.

4. Timeframes

I will be using daily charts and will be looking at moving averages and technical patterns in the price. Cup & handles, reversal patterns etc are all going to be of interest.

5. Which Strategies?

As for now, I'm not sure. I'm looking at reversals on a daily basis (i.e. either hammers or dojis) but not sure if i'd act on them just yet. Breakouts will have to be pretty strong and I'll be looking at using moving averages as lines of resistance/support. Retracements I don't know anything about yet so not going to go anywhere near them!

6. Trade Set Up

High volume (750,000+) Good technical pattern (higher highs, higher lows), volatility in the stock, price between $10-$100.

I'm paper trading at the moment and I'm looking to start with a live account in January 2011. I've read a number of times that I should keep a journal as it's a great way to learn from your mistakes. The two trades that I'm going to keep an eye on this week are BAC dropping below it's line of resistance at 10.99ish and MCD for a breakout below it's line of resistance at around $77.
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Old Dec 13, 2010, 1:28pm   #47
Joined Oct 2010
Re: Let's Play the US Markets

NickElliott started this thread Two other (swing) trades I'll be looking at this week.

Stock number 1: COH
Name of Company
Coach Inc
Entry trigger $57.60
Stop
$55.35 First target $59.33 (3%)
Final target
$64.63 (12.2%)
Average daily volume 3.43 million
Sector
Technology | Networking & Communication Devices
52 week high $57.45
52 week low $32.56
Performance since the beginning of the year 59.15%

Stock number 2: CCJ
Name of Company: Cameco Corp.
Entry trigger $38.70
Stop $37.53(-3%)
First target $39.86 (3%)
Final target $44 (13.7%)
Average daily volume 2.11 million
Sector Basic Materials | Industrial Metals & Minerals
52 week high $38.70
52 week low $20.65
Performance since the beginning of the year 19.99%

Just paper trading for now so am effectively just going to track what they do so I guess I'll post back at the end of the week with their performances.
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Old Dec 17, 2010, 4:02pm   #48
Joined Oct 2010
Re: Let's Play the US Markets

NickElliott started this thread
Quote:
Originally Posted by NickElliott View Post
Two other (swing) trades I'll be looking at this week.

Stock number 1: COH
Name of Company
Coach Inc
Entry trigger $57.60
Stop
$55.35 First target $59.33 (3%)
Final target
$64.63 (12.2%)
Average daily volume 3.43 million
Sector
Technology | Networking & Communication Devices
52 week high $57.45
52 week low $32.56
Performance since the beginning of the year 59.15%

Stock number 2: CCJ
Name of Company: Cameco Corp.
Entry trigger $38.70
Stop $37.53(-3%)
First target $39.86 (3%)
Final target $44 (13.7%)
Average daily volume 2.11 million
Sector Basic Materials | Industrial Metals & Minerals
52 week high $38.70
52 week low $20.65
Performance since the beginning of the year 19.99%

Just paper trading for now so am effectively just going to track what they do so I guess I'll post back at the end of the week with their performances.
So what we have so far:

COH @ $57.9 so it's triggered ok and hasn't hit first target yet but moving towards it.

CCJ @ $38.78 so it's triggered but not making a lot of movement - one to watch over the next few days...
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Old Dec 21, 2010, 10:46am   #49
Joined Oct 2010
Re: Let's Play the US Markets

NickElliott started this thread This Week’s Swing Trades 20th Dec 2010

Stock number 1: APD
Entry trigger $90
Stop $87.30
First target $92.70 (3%)
Final target $106 (17.8%)
Average daily volume 1.15 million
Sector Basic Materials | Chemicals – Major Diversified
52 week high $89.99
52 week low $64.13
Performance since the beginning of the year 10.20%



Stock number 2: FWLT Name of Company Foster Wheeler
Entry trigger $34.09
Stop $32.98(-3%)
First target $35.11 (3%)
Final target $48 (40.8%)
Average daily volume 2.69 million
Sector Industrial Goods | Heavy Construction
52 week high $35.01
52 week low $20.33
Performance since the beginning of the year 12.64%
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Old Jan 7, 2011, 4:08pm   #50
Joined Oct 2010
Re: Let's Play the US Markets

NickElliott started this thread Happy New Year everyone!

I haven't made any dummy trades this week but I have set up the account and will be live trading in the next week or so.

Current dummy trades are:

APD, Long, bought : 89.99, currently 88.59 (LOSS 1.5%)
FWLT, Long, bought: 34.48, currently 35.59 (GAIN 3.2%)
STR, Long, bought: 17.5, currently 17.53 (GAIN 0.1%)
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Old Jan 11, 2011, 6:02pm   #51
Joined Oct 2010
Re: Let's Play the US Markets

NickElliott started this thread Should have the live account set up in the next few days. Current dummy trades are:

APD (LOSS 1.6%)
FWLT (GAIN 3.2%)
LVS (GAIN 0.01%)
NAV (GAIN 3.5%)
RBS (LOSS 0.08%)
STR (Gain 2.1%)
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