Down to £100.....let's do this

dgtrading

Active member
stopped out on ADS and BMW today. BMW dropped with almost no buying power today, maybe I should have taken friday's price as a signal to get out.

still in Airbus, very put off by the drop in price with almost no buying power, especially after Thursday's pin bar. Closing equity for today £75.58 :(
 

Attachments

  • Screen Shot 2015-03-23 at 17.50.32.png
    Screen Shot 2015-03-23 at 17.50.32.png
    34.6 KB · Views: 109
  • Screen Shot 2015-03-23 at 17.51.11.png
    Screen Shot 2015-03-23 at 17.51.11.png
    40.4 KB · Views: 134

dgtrading

Active member
anyways, no point sobbing about it, found some more potential setups I'm going to try and play.

possible shorts: HSBA and SPD
possible long DIS
 

Attachments

  • Screen Shot 2015-03-24 at 14.17.11.png
    Screen Shot 2015-03-24 at 14.17.11.png
    39.1 KB · Views: 124
  • Screen Shot 2015-03-24 at 14.16.53.png
    Screen Shot 2015-03-24 at 14.16.53.png
    49.4 KB · Views: 133
  • Screen Shot 2015-03-24 at 14.16.24.png
    Screen Shot 2015-03-24 at 14.16.24.png
    54.8 KB · Views: 112

dgtrading

Active member
took the HSBA trade, went short with a stop loss above today's high
 

Attachments

  • Screen Shot 2015-03-24 at 16.36.40.png
    Screen Shot 2015-03-24 at 16.36.40.png
    49.3 KB · Views: 127

tomorton

Legendary member
anyways, no point sobbing about it, found some more potential setups I'm going to try and play.

possible shorts: HSBA and SPD
possible long DIS


Agree on HSBA (currently my only imminent short target in FTSE100) and SPD: I should be able to short HSBA after 1 more weak close below the range of 20/03, using high that day as stop. My (conservative) system won't get me into SPD for about another 3 weeks.
 

dgtrading

Active member
Agree on HSBA (currently my only imminent short target in FTSE100) and SPD: I should be able to short HSBA after 1 more weak close below the range of 20/03, using high that day as stop. My (conservative) system won't get me into SPD for about another 3 weeks.

I see your logic in waiting for that close. Do you agree with my stop loss placement?

are you waiting for SPD to drop through the 5.774(ish) level as confirmation to go short?
 

tomorton

Legendary member
Partly I need SPD to print a consistent trend rather than simply breach or close above/below a certain level. Its a trend-following technique so I accept I will always miss the earliest part of a trend and most break-outs.

Your stop placement makes sense on the time / risk scale that works for your system, there's no single stop location that would be right or wrong for everyone. The important things about our respective stops are that they are derived from TA not just acceptable points or £ loss. People will say that a stop far above a short entry is taking on too much risk: really it depends on how many £ or p per point you stake.
 

dgtrading

Active member
Partly I need SPD to print a consistent trend rather than simply breach or close above/below a certain level. Its a trend-following technique so I accept I will always miss the earliest part of a trend and most break-outs.

Your stop placement makes sense on the time / risk scale that works for your system, there's no single stop location that would be right or wrong for everyone. The important things about our respective stops are that they are derived from TA not just acceptable points or £ loss. People will say that a stop far above a short entry is taking on too much risk: really it depends on how many £ or p per point you stake.

I see. I'm still on the learning curve and tweaking my strategy hence the uncertainty, i'll keep my stop where it is and see how it pans out. Thanks for the advice.
 

dgtrading

Active member
HSBA gapped up this morning and took me out of my position (n)

I think I should be more patient and wait for price to meet the major trend lines
 

Attachments

  • Screen Shot 2015-03-25 at 11.57.46.png
    Screen Shot 2015-03-25 at 11.57.46.png
    49 KB · Views: 114

dgtrading

Active member
RR moved my stop loss up to yesterday's low because at my equity I can't afford the drawback to 9.5565.got stopped out.

considering entering again with a smaller position size if price finds support on the trend line, not too confident though as price is struggling
 

Attachments

  • Screen Shot 2015-03-25 at 12.01.38.png
    Screen Shot 2015-03-25 at 12.01.38.png
    39.7 KB · Views: 95

dgtrading

Active member
Considering breaking my main rule to take advantage of the drop in US equities.

DIS has broken it's short term daily trend (1st pic) with relentless selling. I am expecting further selling today, and therefore plan to go short with a stop loss of 105.77 (4hr chart second pic) and take profit at 103.12.

any thoughts?
 

Attachments

  • Screen Shot 2015-03-26 at 10.54.42.png
    Screen Shot 2015-03-26 at 10.54.42.png
    47.7 KB · Views: 104
  • Screen Shot 2015-03-26 at 10.55.36.png
    Screen Shot 2015-03-26 at 10.55.36.png
    38.2 KB · Views: 99

dgtrading

Active member
The Italy 40 made a nice uptrend pin bar today, I would trade it if I had the capital ;)

Instead I found this Italian stock Generali (G) which i am confident will rise in the next couple trading sessions
 

Attachments

  • Screen Shot 2015-03-26 at 20.39.02.png
    Screen Shot 2015-03-26 at 20.39.02.png
    36.7 KB · Views: 97
  • Screen Shot 2015-03-26 at 20.40.52.png
    Screen Shot 2015-03-26 at 20.40.52.png
    40.4 KB · Views: 100

paszkman

Established member
The Italy 40 made a nice uptrend pin bar today, I would trade it if I had the capital ;)

Instead I found this Italian stock Generali (G) which i am confident will rise in the next couple trading sessions

Hi DG, the way you draw your trendlines here is a bit confusing for me. Are you drawing them off wick of the candles or off the bottom of the body? Looks like you are doing both, but perhaps you should choose one or the other for consistency?
 

dgtrading

Active member
Hi DG, the way you draw your trendlines here is a bit confusing for me. Are you drawing them off wick of the candles or off the bottom of the body? Looks like you are doing both, but perhaps you should choose one or the other for consistency?

Off the wicks, I believe this shows price rejection below the trend line. I know they are not 100% accurate. :)
 

dgtrading

Active member
Of course DIS stopped me out as US stocks took a sharp rise. Only myself to blame.

G closed favourably today however. Hopefully will lead to some buying power next week.
 

Attachments

  • Screen Shot 2015-03-27 at 17.53.54.png
    Screen Shot 2015-03-27 at 17.53.54.png
    40.6 KB · Views: 102

dgtrading

Active member
nice setup formed for Boeing; rebound off a trend line after last weeks selloff. Planning to go long on the market open with a stop loss below friday's low and take profit at 155.10

Since i've almost destroyed my account there is little room for any more stupid trades.
 

Attachments

  • Screen Shot 2015-03-29 at 19.31.26.png
    Screen Shot 2015-03-29 at 19.31.26.png
    41.6 KB · Views: 106

dgtrading

Active member
UPDATE

For anyone that is still remotely interested in this journal:

It's been a tough ride, managed to push my account up to £160 during a boom in European stocks the other week and then lose almost all of it trying to force trades.

Currently at £30 equity......can't even afford to take advantage of good opportunities in US markets.

The other day I bought shares in Telecom Italia after a bullish pin bar on the trend line. With a stop loss below that day's low.
 

Attachments

  • Screen Shot 2015-04-09 at 12.56.50.png
    Screen Shot 2015-04-09 at 12.56.50.png
    41.9 KB · Views: 99
 
Top
AdBlock Detected

We get it, advertisements are annoying!

But it's thanks to our sponsors that access to Trade2Win remains free for all. By viewing our ads you help us pay our bills, so please support the site and disable your AdBlocker.

I've Disabled AdBlock    No Thanks