Charity Trading Account - Trades for 25/07/07

[EK1]

Please make suggestions for our Charity Trading Account (details here) for trades on 25/07/07.

Please abide by the following restrictions:

All trades must have an entry point
All trades must have an exit (target) point
All trades must be good for that day only (no rollovers to start with)
All trades must have a stop

No trades will be made in non-UK Equities or in Heating Oil or Natural Gas contracts.

The maximum stake will be £1 a point in indices, energy and metal commodities and Currency Markets. The maximum stake in all other contracts shall be £2.

Please suggest your stake along with your suggested instrument.

Please do not use this thread for anything other than trade suggestions. Irrelevant posts will be deleted without explanation.

Our thanks to Capital Spreads setting up the account.

Good trading,

EK1

 

[counter_violent]

O K submitting this one for 25/7/07

EUR/JPY

If trade is selected but not acted on...please select a second or third candidate that can be acted on

cheers

 

[Phil Mibbutz]

EK1: I'd like to suggest a couple of share 'buys' for tomorrow, but it's a bit difficult to give entries/exits when the opening price and spread are so unpredictable. Maybe this is partly why there have been so few posts? How about changng the criteria slightly for equities to buy or sell, with a target price? The £2 per point stake limit also makes it very difficult to recommend a share with a low price.

 

[rossored]

Unfortunately we have to have an entry price and a stop price. Capital Spreads have also imposed (not unreasonably I think) the £1/£2 cap - that is not down to us.

We've imposed the target price in case one of us isn't around to act on the trade, but this could be flexible if you have suggestions - we'd be pleased to entertain them.

 

[jacinto]

well, i dont have a trade i know will be reasonable, so i will pass tonight.

would suggest a long euryen 165.75, and stop 165.45, target end of day, @ 2 quid a point,

but sods law, this is when you assign it to me, and it becomes a loser

stop to be moved to BE after 50 pips in profit :cheesy:

 

[trendie]

I am going to pass for today.
cable printed a lower-low.
dont know if this is a pullback to continued upmove, or whether its about to print a higher-low, and for me to start looking for shorts.

I cant see a trade thats good for the day.
(I dont want to say BUY, only for higher-low to be printed, and then tumble)

 

[jacinto]

well, i dont have a trade i know will be reasonable, so i will pass tonight.

would suggest a long euryen 165.75, and stop 165.45, target end of day, @ 2 quid a point,

but sods law, this is when you assign it to me, and it becomes a loser

stop to be moved to BE after 50 pips in profit :cheesy:

same view as trendie, please do not consider the above (cancel my trade). price went too low overnight

 

[EK1]

No trades for this morning

I think we need to alter the criteria to see if we can encourage more trades - the 9.30am morning time doesn't seem to be working.

What about suggesting trades that we can put on between 8.30pm and 9.15pm in the evening (believe that Capital Spreads only accepts spreadbets until 9.15pm). That way at least we will have a full days activity to form an opinion and hopefully some profitable trades

So if there are any suggestions for this evening please post them here, in this thread.

(I realise that any potential trades probably won't be posted until later this evening - gives everyone plenty of time )

Good trading

EK1

 

[options]

Might just sneak in with this one.

Ftse cash.

Sell 6492
stop 6515
target 6409

Pound a point

 

[EK1]

Thanks options, that was quick :cheesy:

Order placed as you outlined, we'll see if it gets triggered.

EK1

 

[EK1]

Quick question?

I presume the Ftse cash is the "Ftse Rolling Daily" option?

The other options are;

Ftse Future Daily (Sep)
Ftse September
Ftse December

If someone can just confirm, ta.

Thanks
EK1

 

[EK1]

OK we are in short, £1 a point at 6492.

Fingers crossed

EK1

 

[options]

Yes it would be rolling cash.

I made a typo on the target. Can it be changed? It should have been 6449. Slightly closer and more reachable.

 

[EK1]

Thanks Options.

Yes target altered to 6449

EK1

 

[jacinto]

good luck, now to wait.

 

[EK1]

Stopped out at 6515, result: -£23.00

At least we followed our plan.

Trade details attached.

Get your recommendations in for EOD today and we'll try and grab a winner!

EK1

 

[options]

Sorry guys. My stop was wrong by around 5 points. My own similar trade saw me get in at a lower price but get stopped out. Re entered... and you can see what happened. Turned a loss into a profit.

I. Like many others have to adopt a more 'hands on' approach to a trade. At least until it gets into a comfortable zone and can hopefully be eased out to a longer trade.

So... Two things. Either give it a bit more leeway and use a higher time frame chart (I used a 3 min) a 5 min would have been better.

Or change the entry conditions. Very hard for something like this I know. In truth and in 'normal' trading for me I would not have entered at my stated price until the market started turning.

A good exercise though. Next time the stop goes outside the zone. Just didn't think the dow futures had enough oomph to lift things out of their market hours.

Until tomorrow.

 

[jacinto]

options

theres another trade around the corner for the charity. good you managed to turn your loss to profit.

in a way i think it is pointing us to the need to have swing trades available and not only daytrades. i think there would be not only much more participation but also significantly better results.


j

 

[timsk]

in a way i think it is pointing us to the need to have swing trades available and not only daytrades. i think there would be not only much more participation but also significantly better results.
j

Agreed jacinto!
It's well documented on these boards that day trading with a SB Co. is tough going at the best of times. Not only are we attempting to do just that, but, we have the additional handicap of having to use the previous day's EoD data to make our calls. This makes an already hard task harder still. I can see why Capital Spreads agreed to doing this - I suspect that they're not overly concerned that it's gonna cost them a lot. So, if - and it's a big if - we can turn a profit month on month, it will be a huge achievement. And, to be fair to our very sporting friends at Capital Spreads, I would think that they would like to see the account go into profit as, presumably, it will encourage people to open new accounts with them. If the best of T2W fail to make a few quid for the charities, then everyone loses. My guess is that the powers that be at Capital Spreads will want to help us succeed, just not TOO much! With this in mind, perhaps we can approach them with the view to extending the timeframe beyond intraday?
Tim.

 

[rossored]

We can trade longer timeframes if needs be - that is not a problem with the rollover. If someone wants to setup a £1 swing trade, then we can use the other £1 to daytrade.