Swing trading FTSE100 members

ENRC looks like it offered another shorting opportunity as of last night's Close, I shorted this 20/03, 02/05 (by mistake, set entry too high) and 03/05. The only thing stopping me now is that would put me short when the US is in an upwards swing phase. But you might have more faith than me in this continuing to drop.
 
You are way ahead of me on the market analysis stuff, I am just taking each trade as it comes.

Interesting to hear your opinion though, thanks
 
This week was a real test. First a painful rotation from shorts to longs when I saw the S&P had surpassed its 29/05 swing high, then a nice gain towards Thursday pm followed by a 250pt drop in the Dow overnight. Pushed me to cut out all the remaining longs and go flat into the weekend.

For Monday, there are some long opportunities that are well above their Friday Closes, so orders set at these levels should really only be triggered if we resume this short-term upleg. I have put smallish buy orders in on 7 - Aggreko, Babcock, Capita, Croda International, Experian, Morrison (Wm), United Utilities.
 
No long orders triggered as market fell convincingly yesterday. Presents a short-term buying opportunity so I have extended the longs pending for today. I don't really expect the market to go far and I certainly aim to take profits early on any longs triggered.
 
What a dire month (though not as bad as May).

I am repeatedly seeing the account +2 or +3% during the trading month, only to go negative either late in the day or the next morning. Seems this pattern suggests need for a 'portfolio profit target' as much as each individual position has its own, base don its individual chart.
 
tomorton said:
What a dire month (though not as bad as May).

I am repeatedly seeing the account +2 or +3% during the trading month, only to go negative either late in the day or the next morning. Seems this pattern suggests need for a 'portfolio profit target' as much as each individual position has its own, base don its individual chart.
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Not so dire for me.

15 trades - 8 win (average R:R 2.2:1) 5 lose and 2 open

You seem to generate many more trades then me
 
barjon said:
You still trying the floor trader thing, China?
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Yes, with a lot of my own discretion thrown in. It's going OK...well I am not losing money anyway = ).

You'll be pleased to know I am a 100% 'take profit at the previous swing high/low' convert now.
 
China Diapers said:
Yes, with a lot of my own discretion thrown in. It's going OK...well I am not losing money anyway = ).

You'll be pleased to know I am a 100% 'take profit at the previous swing high/low' convert now.
Click to expand...

Good man :) It can be galling when price just keeps shooting on past your target, but there's usually a re-entry (new trade) that comes along. The big advantage is that you are in control of what you've risked and what you take. Slow but sure growth is the aim and so what if the occasional rocket ship passes you by.

One thing (if you'll excuse any granny and eggs flavour)I hope you're keeping a log of the discretionary factors that caused you to pass trades that otherwise obeyed the rules, or take trades that otherwise would not be there by the rules, with the outcome of those passes or trades. After a bit you'll find out which of those factors are significant enough to matter.
 
barjon said:
One thing (if you'll excuse any granny and eggs flavour)I hope you're keeping a log of the discretionary factors that caused you to pass trades that otherwise obeyed the rules, or take trades that otherwise would not be there by the rules, with the outcome of those passes or trades. After a bit you'll find out which of those factors are significant enough to matter.
Click to expand...

To be honest no I don't keep records of the trades I pass but I will start.

Usually I will pass a trade because the range of the bar is too wide, I am finding it difficult to move away from using the high/low as the entry/stop.
 
Update - Flat tonight. 4 longs triggered Monday, 2 remained pending, cancelled the 7th Monday night as price had dropped through buying zone. No new longs identified Monday or Tuesday nights which naturally made me wonder if there were any more bargains to be had for the time being.

Market floated higher today in absence of US: closed the longs early this am for small profit, about 20%r, but as it was Day 3 and there would be no US-driven resurgence this pm, not worth the risk of holding on. If we drop tomorrow or Friday, may get a chance to re-position.
 
Volumes light since the US traders broke up for holiday and direction unconvincing. Yesterday's spinning top candlestick summed this up: no point going long or short at this stage. I will wait for Monday's FTSE and US patterns to be completed before setting new orders.
 
Nice drop today across major markets, but uptrend remains in place mid-term, offering valid swing entry signals on several shares in FTSE100 in uptrends - entered 8 buy orders for Monday. Some may be stopped out short-term, but don't want to miss the upside opportunity.
 
These are the 8 which have made putative swing lows in uptrends, buy orders entered above Friday's highs for tomorrow -
ITV
Kingfisher
Legal & General
Pearson
Polymetal
Prudential
Standard Life
Tullow Oil

This is what I hope will be merely the advance guard. I have 49 of the 100 index members in short-term uptrends so plenty of scope for expanding the holdings, though the index itself is at least 2 sessions away from giving such a signal in its own right.

Political output from the EU Finance Ministers meeting tomorrow, plus results from JP Morgan at the end of the week may dictate what happens this week.
 
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tomo

just a few comments:

ITV - wouldn't qualify for me a) failed to make new high last week b) not enough in the trade

Kingfisher - wouldn't qualify for me. retrace too powerful and deep

Legal & General - wouldn't qualify for me a) I'd prefer a bit more backwards first b) not enough in trade

Pearson - same as above

Polymetal - wouldn't qualify for me. retrace gone below last swing low

Prudential - on my list but not enough in trade unless I can find intraday entry

Standard Life - wouldn't qualify for me, not enough in trade

Tullow Oil - on my list

Be interesting to see how they pan out - I expect all will be good except Tullow :LOL:
 
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