Diary of a swing spread better

[hungvir]

Hello again,

I actually started my diary in another thread the name of which can't be changed, so I have this new one. A T2W moderator sensibly advised me to have a bit of an introduction about the thread so here you go.

I am a radio producer/presenter with the Vietnamese Service at the BBC World Service. I love my job and I am passionate about trading as well. I consider myself a swing trader and I have learnt a lot about trading through books and investment workshops.

Of course, I also experienced the thrill and eventual lossess as most of beginners did. When I traded shares in the past, I bought Orange, Prudentials, ARM and made some money at first then sold them at a loss only to see them bouncing back and making new highs.

Now I concentrate 100 per cent on swing trading using spread betting firms (Deal4free, Finspreads, Worldspreads). I am confident that I'll be able to earn a second income from the market.

I believe that we're in a bull market (until the chart tells us otherwise. I missed some good trading opportunities while taking my kids on holiday last week. If you look at RIO's swing chart, you'll see why. But I do think patience is an important virtue of a trader and I am patiently waiting for another good trade opportunity to come by.

No good trader, in my opinion, will be able to progress without a good trading plan and journal. I determine to make this thread just that. I'll post all my trading decisions and trade here. I have my own blog else where but I think T2W is the best place to have my trading journal. Hopefully, newer members of T2W will be able to take something from this thread and more senior members can help me to become a better trader.

I look forward to talking to you soon here. Or if you fancy a drink at the BBC's bar at Bush House, don't hesitate to give me a shout.

Happy trading to all.

Hung

 

[hungvir]

No investment advice intended

I just want to make sure that nothing in this thread can be considered as investment/trading/spread betting advice or recommendations.

They are merely my personal observations that can well be wrong. I am aiming to be right at least half of the time but I can't tell when I'll be right and when I'll be wrong. Only Mr. Market knows.

I am no expert. At least, not yet.

 

[hungvir]

Astrazeneca as a short target?

I suspect Astrazeneca - AZN is trending down or bound to be moving in a trading range. I am waiting for a set of at least three higher highs and thereafter, I am willing to go short if it breaks the nearest low.

I am still trying to find out how I can upload and insert the AZN chart here.

 

[barjon]

hungvir

i'm an azn shortie too

one way of posting a chart is to save your chart image to a file the scroll down to "manage attachments" (can't use quick reply for this) and upload it. You'll get a thumbnail image then. Any difficulty let me know.

good trading

jon

 

[barjon]

....here's mine

 

[hungvir]

This is brilliant, Jon. Just a replica of what I am trying to post

Best,

Hung

 

[hungvir]

Freebies

I used to spend a lot on investment workshops and charting packages until I realised there're places like T2W and ADVFN.

I trade UK shares and indices only at the moment, so I am using ADVFN data which is delayed but 100 per cent free. I would give them 10 out of 10 for this service.

Of course, I am only interested in 'moving' shares and ADVFN's losers and gainers help me to track them down. They also list top shares in terms of volume. I then check their chart, 3 year - 1 year - 3 month - intraday, to make my educated gueses.

I also have a general monitor list and a list for 'short candidates' with ADVFN.

 

[hungvir]

By the way, I am a bargain hunter and I am more interested in losers. Gainers are all yours if you want them

 

[hungvir]

Imt

If IMT goes down on Monday, I stand ready to place an up bet whenever it makes a higher next. Stop loss is just under the new low.

 

[hungvir]

IMT chart looks fine. My only concern is a lower high was formed recently.

I am having second thought about IMT. A good stop loss point is too far away. I wait a bit more to see how it's played out.

 

[hungvir]

Vodafone

Where is VOD going to head next?. It's trying to go up on pretty low volume.

Could anyone point out to me if double bottom was formed between Dec 05 and Jan 06 please? And why?

Thanks,

Hung

 

[Baruch]

Anyone using Finspreads?

Read this: http://www.graemenash.co.uk/2006/02/update-finspreads.html

 

[hungvir]

Anyone using Finspreads?

Read this: http://www.graemenash.co.uk/2006/02/update-finspreads.html

Thanks, Baruch. You have my sympathy. I tried to access Fins' platform from work the other day and had to give up. It took ages. Would the phone be a better way to place orders?!

As I am new to them, they send me a glossy booklet under the umbrella of their ''Trading Accademy''. It just proves that you can't just a book by its cover. Nothing in the book would help you to be profitable. And rightly so. Isn't it true that when you win, they lose?!

But to Fins' credit their customer service people are helpfull and I am not aware of any other firm that offer new customers training material and 1p bet for the first few weeks.

Hope you all are enjoying your weekend.

Later,

Hung

 

[hungvir]

Caledonia Investments

I am going to place an up bet on CLDN tomorrow. The stop loss point is tight enough.

Stop loss at 1894. Close half the position when 1960 level is reached.

 

[hungvir]

hungvir

i'm an azn shortie too

one way of posting a chart is to save your chart image to a file the scroll down to "manage attachments" (can't use quick reply for this) and upload it. You'll get a thumbnail image then. Any difficulty let me know.

good trading

jon

If you don't mind me asking, how have been doing with AZN?! What was your entry point?

Cheers,

Hung

 

[hungvir]

Good quotes for swing traders

"In swing trading, hoping is a sign of error." - Marc Rivalland - author of "Marc Rivalland on Swing Trading"

"The market does not have the habit of giving money to someone who does not earn it." -
Alan Farley - author of "The Master Swing Trader"

 

[barjon]

........Could anyone point out to me if double bottom was formed between Dec 05 and Jan 06 please? And why?.................

Thanks,

Hung

hung

Wouldn't have counted it myself. Interesting from a long term perspective that the 7/04 low was a 50% retracement of the 9/02 - 1/04 up move and the latest low around the same if the fib grid is extended to 9/05 high. Short term I'd favour up so long as around 122 holds (Friday's candle looks bearish and leaves the price at about fib50% of the down move), amber light if below that and triple amber if the low (approx 120) of the long up candle goes.

good trading

jon

ps: azn entries yellow circles

 

[hungvir]

hung

Wouldn't have counted it myself. Interesting from a long term perspective that the 7/04 low was a 50% retracement of the 9/02 - 1/04 up move and the latest low around the same if the fib grid is extended to 9/05 high. Short term I'd favour up so long as around 122 holds (Friday's candle looks bearish and leaves the price at about fib50% of the down move), amber light if below that and triple amber if the low (approx 120) of the long up candle goes.

good trading

jon

ps: azn entries yellow circles

Many thanks for your enlightenment! Isn't unfair that I can't add more stars to your reputations

What bugs me about VOD is that it made two lower lows recently. I assume you have no problem with that?!

 

[barjon]

..............What bugs me about VOD is that it made two lower lows recently. I assume you have no problem with that?.................!

Yes I do Strict adherence to my rules would have me short below Friday's low but it's been messy, doesn't pass the filters and is not in my stable anyway.

jon

 

[barjon]

...there I've had it both ways :cheesy: so it'll go sideways