Looking for a UK trading buddy

barneydunn

Member
52 6
Hello, I am looking for someone else who is spread betting in the UK and would like to discuss trades and trading ideas. I have been trading forex for just over 5 years and I'm just moving over to spread betting shares, indicies, etc.

I trade with GKFX and look at all available charts on mt4. I use mt4 because that is what I am used to from the forex. Also I can code in mql4 so I have all my money management tools already coded in mt4. I have ea's for trade management too.

I only trade daily charts with pending orders in the direction of the trend which is something that has worked consistently well for me in forex.

If you are interested in getting in touch then either post here or pm me and hopefully we can meet on Skype.

Newbies are welcome as I can soon get you up to speed on the method.
 

counter_violent

Legendary member
10,687 2,833
Hello, I am looking for someone else who is spread betting in the UK and would like to discuss trades and trading ideas. I have been trading forex for just over 5 years and I'm just moving over to spread betting shares, indicies, etc.

I trade with GKFX and look at all available charts on mt4. I use mt4 because that is what I am used to from the forex. Also I can code in mql4 so I have all my money management tools already coded in mt4. I have ea's for trade management too.

I only trade daily charts with pending orders in the direction of the trend which is something that has worked consistently well for me in forex.

If you are interested in getting in touch then either post here or pm me and hopefully we can meet on Skype.

Newbies are welcome as I can soon get you up to speed on the method.

Hi Barney, any chance you can post up some charts of positions taken this week and a brief description of stop loss / take profit levels etc.

cheers CV
 

barneydunn

Member
52 6
Hi Barney, any chance you can post up some charts of positions taken this week and a brief description of stop loss / take profit levels etc.

cheers CV

Sure thing... I haven't been through all the available charts yet as I'm just starting with this but here is my current watchlist, two open trades and some pending orders I have currently. There are also some others that I am watching. For good measure there's a forex chart too.

aal... in a downtrend, 1542 looks like good resistance to sell below. This pending order obviously also would be a trendline break. I'll consider longs if it breaks that main down trend line.

barc... a lovely range between 280 and 330. Also a minor range at the bottom of the main range. Almost touched me in today but not quite. This has potential to go up to the high 4 hundreds. There's a fib extension of the move up that suggests this (for another post maybe?)

csr... this put in a good show today before pulling back for a doji. 500 is nice support hence the stop below that. 520 is a minor level but a clear level to break. 575 looks nice for a head and shoulders or maybe a push higher than that?

dom... support at 525 and the rising major trendline. 563 should prove minor resistance. Very good potential.

fres... I like the look of 1280 for a sell.

ws30... not so sure about this one after todays up move but 14875 would be a nice level to break.

bnzl... 1325 horizontal and trendline support?

cey... a trendline break. A break and retest of 40 would give me somewhere logical to place my buy stop.

chg... 298 acted as good resistance but ultimately broke, a small range between 298 and 320 which broke today. I'll be putting a buy stop above that candle on Tuesday morning. This stock split in may 11 from £37 ish to £7 ish. It has declined since but the price action recently around those resistance levels suggests this could be the time to be speculating north.

eurusd... this chart is a day behind but you get the point. If that entry gets hit then it will be a trendline break too. 1.3150 is starting to look like minor support and 1.2750 looks increasingly more possible.

In terms of stops I generally use 2 x ATR and adjust my position size accordingly to risk a certain amount per trade. If the 20 donch channel which I use to trail my stops is close then I will use that as the stop level and adjust my position size according to that.

I hope this makes sense and answers your question?
 

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barneydunn

Member
52 6
I forgot to say I never use take profits. I always cut my losers short and let my winners run. My favourite method is a 20 donch channel trail.
 

Steakeater

Member
82 2
What spreadbetting company do you use to do all that on MT4?
 

counter_violent

Legendary member
10,687 2,833
Nice to see a clean consistent orderly approach to trading. Very rare on here :)

Daily TF and upwards, again rare.

Keep us updated, ideal material for a Journal.
 

Jakestn8

Newbie
1 0
Hey I'm looking for a UK spread betting partner too if you're interested email me: [email protected]

Many Thanks
Jake
 
 
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