swing trading every market but stocks (pics of account and live calls )

This is a discussion on swing trading every market but stocks (pics of account and live calls ) within the Trading Journals forums, part of the Reception category; Up 184 ticks on dax and +10 on Dow . Leaving dax for now as I'm confident it can move ...

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Old Sep 29, 2017, 10:41pm   #46
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Chartsy started this thread Up 184 ticks on dax and +10 on Dow . Leaving dax for now as I'm confident it can move 15 more ticks and hit +£200 . The Dow is taking its time but the price action is still very much bullish
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Old Sep 29, 2017, 11:19pm   #47
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Chartsy started this thread Evidence
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Old Sep 30, 2017, 9:10pm   #48
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Hey mate . In my opinion we actually did get a breakout , but just not a conventional break of the highs kind, more of a squeeze and pop of a flag/wedge
Ok fair play to your rules. Mine are pretty strong on buying the all time highs.
Well done on a good strong start mate.
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Old Sep 30, 2017, 9:35pm   #49
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Ok fair play to your rules. Mine are pretty strong on buying the all time highs.
Well done on a good strong start mate.
Cheers mate .

Each to their own , I've tried many different approaches ,all of which do work, but I gradually felt a natural alignment with this approach .

£200 from the dax trade should give a little buffer for drawdown in future trades
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Old Oct 1, 2017, 2:26am   #50
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Chartsy started this thread Should mention that I am using IG as my broker (spreadbet). I am actually using the guaranteed stop loss which I think is a fantastic tool for swing trading - protects me from a black swan event and only an extra couple of ticks if triggered on most liquid markets.

Only issue is I cannot trail my stop above breakeven . I'm not willing to change broker , so for now I have to adapt my trading style.

Instead of in undefined trailing exit based on the 6 Ema I have to use a hard defined exit instead . I will aim for at least 2:1r/r per trade (I may flex this depending on the setup though ).

At the same time , I will still use the 6 Ema as a tool for exiting trades if I get the chance , if that makes sense .

So for example if I'm long a market and up 100 ticks , target 200, and price closed below the 6 Ema I will exit . But I will still maintain a hard exit too
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Old Oct 1, 2017, 10:16am   #51
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Chartsy started this thread hey guys , another iPhone pic where you can see my 02 wifi connection and battery .

This is a little nuance I like to see when trading flags .we have two scenarios

1) textbook John Murphy flag breakout , bounces straight up and takes out the upper trend line , not bad , but personally not the best scenario in my opinion.

2) slight difference but with more confirmation , just before price breaks out a last attempt at pushing lower occurs and we get a small hook/retrace which then shoots higher . I much prefer this .

Scenario 2 is more ideal because imo the market has proved it has a thick, strong bid. Not only this , but it gives bulls a little breather in comparison to 1. 1 is grand , but I'd prefer some extra confirmation (volatility compression , so it ends up just being more of a wedge really ).

my mileage may vary , and I may trade 1 style flags , but i do prefer 2.
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Last edited by Chartsy; Oct 1, 2017 at 10:23am.
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Old Oct 1, 2017, 10:18am   #52
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Chartsy started this thread Alas, an example of a 2 style flag on the Nikkei
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Old Oct 1, 2017, 10:20am   #53
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Chartsy started this thread Nikkei on the daily , Thursday was unsuccessful in pushing the mkt lower , then we had a bounce on Friday . Strong bid and a strong trending market . I'm already long two Indexes so will have to wait until I'm out of either the dax or Dow before jumping In here ( again I'd like to see a mild breakout bar too)
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Old Oct 1, 2017, 10:59am   #54
 
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Alas, an example of a 2 style flag on the Nikkei
Hey Chartsy,

When trading this way you would be far better off with a pro charting package. Remember the IG charts are bookies prices and they run all sorts of prices out of hours which throws the graph out. In most cases, what you'll see on a bookies chart will differ greatly on the real data. Plus that and the spreads and movement within this area.

Your trading so far has been good, don't wait till things f**k up and your money has gone before you then think, I should have invested in a pro chart package. This will be hard to swallow as at the moment you are on a high from your success. You may only then realise on the big fall down.

Lee
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Old Oct 1, 2017, 11:03am   #55
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Hey Chartsy,

When trading this way you would be far better off with a pro charting package. Remember the IG charts are bookies prices and they run all sorts of prices out of hours which throws the graph out. In most cases, what you'll see on a bookies chart will differ greatly on the real data. Plus that and the spreads and movement within this area.

Your trading so far has been good, don't wait till things f**k up and your money has gone before you then think, I should have invested in a pro chart package. This will be hard to swallow as at the moment you are on a high from your success. You may only then realise on the big fall down.

Lee
Hey mate .

Appreciate the pm response and this post too.

I actually use finviz for actual analysis and IG for execution and always cross check to make sure IG is accurate or not ( sometimes it's not as you say ). But yeh, at the very least I will look into Sierra charts which seem decent for EOD style trades
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Old Oct 1, 2017, 11:04pm   #56
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Chartsy started this thread Just closed dax for +£163, gapped down a bit and i closed it but got hit with a bit of interest

Account balance : £1163

Profit: £163
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Old Oct 1, 2017, 11:35pm   #57
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Just closed dax for +£163, gapped down a bit and i closed it but got hit with a bit of interest

Account balance : £1163

Profit: £163
It just spiked up by 60.
I got very lucky, by mistake I had left a sell order in near the top of the spike @ 12897, so I was out. This alerted me to the spike, I thought it looked unsustainable, so I shorted at the red arrow and exited at the green cross! - Pure luck though.
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Old Oct 1, 2017, 11:37pm   #58
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It just spiked up by 60.
I got very lucky, by mistake I had left a sell order in near the top of the spike @ 12897, so I was out. This alerted me to the spike, I thought it looked unsustainable, so I shorted at the red arrow and exited at the green cross! - Pure luck though.

Feelsbadman
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Old Oct 2, 2017, 12:50am   #59
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Chartsy started this thread Just bought Nikkei £1 per tick. Early entry to daily flag break. Type 2 flag
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Last edited by Chartsy; Oct 2, 2017 at 12:58am.
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Old Oct 2, 2017, 12:55pm   #60
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Chartsy started this thread Stop moved to breakeven on Dow
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