Diary of a swing spread better

[hungvir]

Smallest profit

My 60 quid plus profit on the long DOW position has reduced to just 5 quids. Hindsight is a great thing but I should have taken the profit yesterday. It looks like I had the 'this is not my money' attitude. This will never happen again especially when I know of no probability of where the market is heading the next day.

 

[hungvir]

Amazing EMG

EMG ran from about 2120 in mid Feb to 2380 on the last day of Feb and reached near 2370 at one point yesterday (first two daily/minute chart). It bucked the down trend of the FTSE and ended up more than 40 points. Amazing strength!

But 2373 seems to be a strong resistance level now with support at 2265 and 2256 (60 minute chart). If EMG is going to trade within this range for a while, it's such a no brainer profit making opportunity. Of course, the range will be narrower as time goes by.

Using Fibonacci retracement tool, EMG will be capable of reversing back to around 1900 if it ever does change trend.

Applying Fib to more recent high and low shows a possible pull back to 2205 and 2153.

 

[hungvir]

Rio

No idea where RIO is going to go from here. Probably going up for a few days. Will see.

 

[hungvir]

Lloy

LLOY looks like it's still in an up trend. At least technically. A near complete swing low already brought in some longers.

 

[hungvir]

1. Short AZN at 2660 if possible, stop buy at 2687, risking 27 points maximum. Otherwise, have a break.

To watch
LSE - reached 870 on Feb 27 and 28 but found no support there. A potential short at 850-870 range.

RNK continues to slide down. Only watch when there's a day up. Same with VOD and RTR.

Still long DOW, CLDN and LLOY. Will look for an opportunity to get out of CLDN. What a dull stock! But it has strong support at 1900 so I let it stay for a while.

Lloy continues to drop. Hopefully buyers will come in when a swing low is established. But by that time I'll probably be stopped out.

Good night!

VOD had an 'up' day. Sort of. LSE holds firm at 851.

 

[pboi]

my 250 quid on the dow stopped out at 100£..im annoyed..but at least soemthing came from it.

Dax, DOW, FTSE and S&P all on the way down now

 

[MarvinS]

What is anyone's views of the markets at the moment? Wall Street seemed to have come back quite strongly today after a significant sell off again in European trading. I have noticed that the Nikkei 225 had a large run upwards then seemed to trade up and down some 200-300 points per day recently. Europe and USA have had afew days of movement too. Does this mean investors and traders are struggling on direction? I suppose to add to this thread regarding swing trading, its probably better market conditions at the moment for scalpers. Watch out for daily swings guys!

 

[hungvir]

Totally agree, Marvin. Swing traders need to be on very high gard in this market. Best to be able to watch the show the whole time. Then life's going to be a bit bored, insn't it The screen is your friend

 

[hungvir]

Shorting FTSE

Just shorted the FTSE at 5824. Maximum risk 60 points. But if a profit shows, I take it early.

 

[hungvir]

A loss shows first Will see how it turns out later today.

 

[Splitlink]

Closed MKS short for a loss of 7 points. Opened a long trade SN. for 507 this morning. Still open my SPW short.

Split

 

[barjon]

Closed MKS short for a loss of 7 points. Opened a long trade SN. for 507 this morning. Still open my SPW short.

Split

sorry about mks, split http://www.trade2win.com/boards/showpost.php?p=239202&postcount=1495 did wonder how you'd arrived at it and wondered if you'd seen this on the other thread.

good trading

jon

 

[Splitlink]

sorry about mks, split http://www.trade2win.com/boards/showpost.php?p=239202&postcount=1495 did wonder how you'd arrived at it and wondered if you'd seen this on the other thread.

good trading

jon

Hi Jon,

:idea: My short, only yesterday, of MKS for 521.2 was due to, what I thought then, was a pullback towards the previous high of around 525. A rise of above that level this morning made me think that, perhaps, it was not such a good idea, after all. It had worked well for me with SPW.

No, I hadn't seen your post.

Regards Split

 

[hungvir]

Closed MKS short for a loss of 7 points. Opened a long trade SN. for 507 this morning. Still open my SPW short.

Split

Hi Split,

I hope I did not encourage you I was only right about the risk is small enough

Anyway, I am betting big on the FTSE closing below 5810 today. Will see how it goes.

Later,

Hung

 

[hungvir]

I mean FTSE March.

 

[hungvir]

Decided to take just 34 quids and take my kids out. Dont' want to leave my positions 'unattended' these days.

 

[MarvinS]

Hung, All or most of the close on FTSE was perhaps artificial. It was one stock today Vodafone that pushed the markets to clsoe 25 points higher.
Happy trading!

 

[hungvir]

Hung, All or most of the close on FTSE was perhaps artificial. It was one stock today Vodafone that pushed the markets to clsoe 25 points higher.
Happy trading!

Hi Marvin,

Many thanks for letting me know. I temtped to short Vodafone the other day I would very much appreciate if you could offer your analysis here more often as you would be writting them to the press anyway.

I went short the FTSE and the DOW again. I don't think the market is trending at the moment. There's always a time in a day when you can get out at a profit.

Have a good weekend!

Hung

 

[MarvinS]

Would of been fairly tempting to short Vodafone as its annual low was 109p and the stock was heading towards the £1 mark. I suppose this stock has done nothing for some time however a 10p move on this stock equals about 30pips on the FTSE.
How is trading anyway?

 

[hungvir]

Not too bad. I turned my 200 quid capital into almost 550 in about three weeks. Still have open positions though. If the DOW's going to end on a down note today as it has been doing lately, then I'll be able to make a bit more.

Hope you're fine with the odd shift. Working until 9PM is not everyone's cup of tea I would guess. Then again I'll be working until midnight today.