China's FTSE 100 swing trades

[barjon]

So you took that vod retracement you have highlighted?

aye, the lines are entry, stop and exit (you know I target previous high)

 

[China Diapers]

Nice one

 

[barjon]

Just for interest this is how the chart looks after the first trade and in anticipation of the next one. These zones are put in on my trading platform chart - M5 - and price watched as soon as it gets to them.

 

[China Diapers]

That is interesting, thanks.

 

[China Diapers]

Long RSL tomorrow.

Was also looking at BAB but large spread and not a big enough R:R to justify it.

 

[China Diapers]

Long CPG and MGGT for tomorrow.

 

[China Diapers]

This is really starting to urinate me off

 

[tomorton]

Know the feeling China, the market teaches us something every day, sometimes with painful lessons.

My longs got cleared out on Wednesday by stops, mostly trailing so losses were restricted but still annoying. Market had got over-extended and Tuesday's high failed to clear the 14/08 high so I got a raft of sell orders in. Some got cleared out yesterday even though a fairly narrow range day, but most now running and I am hoping for a further fall towards 5700.

Incidentally, first experiences and a little chart-reading with hikkake patterns clearly suggests that trailing stops are not the way to go: even slight voatility will prematurely hit a trailed stop based on a fairly narrow range pattern like this one. No conclusions yet on where to take profits.

 

[China Diapers]

I hear you, market seems to be teaching me "stay out of the market" . It's been tough conditions and it appears I wasn't even following the method properly so I soldier on, still would have thought I would have fluked at least a win by now.

Well I would say I highly recommend taking profit at previous high/low but doesn't seem to be doing too good for me right now.

 

[D70]

Know the feeling China, the market teaches us something every day, sometimes with painful lessons.

My longs got cleared out on Wednesday by stops, mostly trailing so losses were restricted but still annoying. Market had got over-extended and Tuesday's high failed to clear the 14/08 high so I got a raft of sell orders in. Some got cleared out yesterday even though a fairly narrow range day, but most now running and I am hoping for a further fall towards 5700.

Incidentally, first experiences and a little chart-reading with hikkake patterns clearly suggests that trailing stops are not the way to go: even slight voatility will prematurely hit a trailed stop based on a fairly narrow range pattern like this one. No conclusions yet on where to take profits.

Funny, I was reading the beginning and thinking "dont use trailing stops". Got to end and see you've figured that bit out for yourself.

Trailing stops are rubbish.

My experience thus far tells me that multiple targets are the best exit method. The type of strategy will dictate where those multiple targets should be.

 

[tomorton]

Cheers D70, there's always something to learn from Mr Market.

 

[D70]

Cheers D70, there's always something to learn from Mr Market.

Linda Raschke has written several good pieces on exits. She used to trail but also stopped because you're giving away the cream of the edge.

The other beauty about fixed targets is you can apply risk measures with much less random outcome.

 

[China Diapers]

Linda Raschke has written several good pieces on exits. She used to trail but also stopped because you're giving away the cream of the edge.

The other beauty about fixed targets is you can apply risk measures with much less random outcome.

Do you swing trade D70?

 

[D70]

ya'mun

 

[China Diapers]

Cool. Interested in sharing what method you use to identify opportunities?

 

[VendorExterminator]

Funny, I was reading the beginning and thinking "dont use trailing stops". Got to end and see you've figured that bit out for yourself.

Trailing stops are rubbish.

My experience thus far tells me that multiple targets are the best exit method. The type of strategy will dictate where those multiple targets should be.

More gold-dust from the zoo. The (incorrect) application "of" is more than likely why you've come to this generalised and misinformed opinion.

 

[D70]

More gold-dust from the zoo. The (incorrect) application "of" is more than likely why you've come to this generalised and misinformed opinion.

And nice of you to furnish us with your equally useless opinion.

 

[tomorton]

Yes, that's all it is at this point VendorExterminator: opinion. But I'd be happy to hear more about how trailing stops might be more effectively used - I am not used to trailing stops, havng always in the past set a £ profit target and got completely out when it is reached.

I have been using the standard aproach on hikkake trades, based on capital risked - i.e. when price advances to £ value of capital risked, move stop to b/e. If it advances to 2r, move to r, and so on. It follows that if r=£X, profits will always be £X less than the best price achieved. I can think of other ways to trail stops, but haven't tested them yet - you seem to use a successfully tested method, care to enlighten us?

 

[China Diapers]

RSL stopped out for a loss.

Currently long CPG.

Long NG for Tuesday.

 

[China Diapers]

On second thoughts I pulled the NG order, yesterdays wide spread bar invalidates it as a setup