One Trade a Week

[SlipperyC]

Have to be honest here people.

My weekly trade forecasts have generally been great. But, I've let myself down because of my lack of patience and discipline.

Also, I feel out of touch with market direction.

I feel like a broken record, but my choice this week still has to be;

DAX LIMIT SHORT 7180
STOP 7280
TARGET 7000

Why? DAX has bounced off the 76.4 fib level from recent high / low. I believe it will test the 7000 level before direction is decided.

 

[isatrader]

I'll have a go at this.

GBP/JPY

Long.

Buy stop- 136.10
S/l- 134.60
T/p- 139.25

Reasoning?
Weekly-Close above BRN PPZ of 135. Break of downward trendline. Boj intervention. Large bullish bar in relation to the average.
Daily- another broken t/l

This reasoning probably has more holes in it than Swiss cheese, but im still learning and its not a trade im taking on my real account. Thats how much confidence I have in it

Hi dmt257, thanks for joining in. Below are the ATR percentage targets for you. This is how we judge the trades performance.

ATR Targets

Daily ATR(200) = 1.2388 (0.91%)
Weekly ATR(52) = 4.1979 (3.08%)

-1x ATR: 134.86
1x ATR: 137.34
1.5x ATR: 137.96
2x ATR: 138.58

As a guide, somewhere between 1x and 2x the daily ATR is a good target to aim for, and your target of 139.25 would make you a 2.54% ATR adjusted profit.

Good luck and let me know if you have any questions.

 

[isatrader]

I've just got to pop out for a bit, but will do the updates for everyone else when I get back

 

[Canto1922]

Isa, I'd also like to thank you for running the thread in such a professional way - it's a great way of keeping abreast of different trading approaches & introducing a more systematic aproach to one's own. My problem at the moment is a shortage of time. Entry for this week as below:

BP

Sector: Oil

Order Type: Limit at 472

Direction: Long

Initial Stop loss: 450
Initial Target: 485

Reason - noise from brokers that BP are undervalued, new contract in Indonesia & a perception that they can finally start moving ahead, albeit with Rosneft issues still in play. Bouncing off recent low of 450 & 200 day ma turning up.

 

[isatrader]

LSE: Meggit MGGT = Long
Entry: 347p
Stop: 338p
Target: 398p

FTSE 250 defense stock. I love these break out set ups.

Mike

Thanks Mike, the setup looks promising. Here's the initial ATR targets for you

ATR Targets

Daily ATR(200) = 8.45 (2.44%)
Weekly ATR(52) = 21.67 (6.24%)

-1x ATR: 338.55
1x ATR: 355.45
1.5x ATR: 359.68
2x ATR: 363.90

Good luck

 

[isatrader]

Have to be honest here people.

My weekly trade forecasts have generally been great. But, I've let myself down because of my lack of patience and discipline.

Also, I feel out of touch with market direction.

I feel like a broken record, but my choice this week still has to be;

DAX LIMIT SHORT 7180
STOP 7280
TARGET 7000

Why? DAX has bounced off the 76.4 fib level from recent high / low. I believe it will test the 7000 level before direction is decided.

Don't beat yourself up Slip. It's a fresh start now, so put the last quarter behind you. Here's your initial targets

ATR Targets

Daily ATR(200) = 94.33 (1.31%)
Weekly ATR(52) = 242.7 (3.38%)

-1x ATR: 7274.33
1x ATR: 7085.67
1.5x ATR: 7038.51
2x ATR: 6991.34

Good luck buddy

 

[isatrader]

Isa, I'd also like to thank you for running the thread in such a professional way - it's a great way of keeping abreast of different trading approaches & introducing a more systematic aproach to one's own. My problem at the moment is a shortage of time. Entry for this week as below:

BP

Sector: Oil

Order Type: Limit at 472

Direction: Long

Initial Stop loss: 450
Initial Target: 485

Reason - noise from brokers that BP are undervalued, new contract in Indonesia & a perception that they can finally start moving ahead, albeit with Rosneft issues still in play. Bouncing off recent low of 450 & 200 day ma turning up.

Thanks Canto, I'm glad you are happy with how I'm running the thread. I'm trying to be strict with it, but hopefully fair as well. Time is an issue I have as well, which is why my picks mostly seem to be made late at night as it's the only time I can get some peace and quiet to focus.

Here's your ATR targets

ATR Targets

Daily ATR(200) = 11.46 (2.43%)
Weekly ATR(52) = 32.28 (6.84%)

-1x ATR: 460.54
1x ATR: 483.46
1.5x ATR: 489.19
2x ATR: 494.92

Good luck

 

[isatrader]

A nice variety of picks as always. We have mostly stocks this week with 5 stock picks, 1 Forex and 1 Index.

Week 10 Picks

Pat494
Marston's (LSE:MARS)
Direction: Long
Market order: Will be filled at the open on Monday
Stop: 86
Target: 106

isatrader
Ferrexpo (LSE:FXPO)
Direction: Long
Warehoused order: Manual entry during the week, will reassess if it breaks below 430 support
Stop: 424 (provisional)
Target: 465 (provisional)

wigtrade
Tesco (LSE:TSCO)
Direction: Long
Warehoused order: Manual entry during the week
Stop: TBC
Target: TBC

dmt257
GBPJPY (FX:GBPJPY)
Direction: Long
Buy Stop order: 136.1
Stop: 134.6
Target: 139.25

TradeTheEasyWay
Meggitt (LSE:MGGT)
Limit order: 347
Stop: 338
Target: 398

SlipperyC
DAX Index (DBI DAX)
Direction: Short
Limit order: 7180
Stop: 7280
Target: 7000

Canto1922
BP (LSE:BP.)
Direction: Long
Limit order: 472
Stop: 450
Target: 485

Good luck everyone and as always let me know if you want any changes.

Below is the trades spreadsheet

 

[isatrader]

NYSE Bullish Percent Index

Attached is the NYSE Bullish Percent Index, the NYSE Percentage of stocks above their 200 day moving average chart and the NYSE Percentage of stocks above their 50 day moving average chart from stockcharts.com

I think these and other market breadth charts are important to look at occasionally if you trade stocks.

 

[wigtrade]

TSCO LONG

Enter

 

[isatrader]

TSCO LONG

Enter

Morning Wig, your entry time on the thread was 7.30am GMT, so that's 8.30am BST. So the closing price for TSCO.L was 392.8

Here's your full entry details:

Trade Details:
Tesco (LSE:TSCO)
Direction: Long
Entry: 392.8
Stop: TBC
Target: TBC

Daily ATR(200): 6.82 (1.74%)
Weekly ATR(52): 16.75 (4.26%)

ATR Targets
-1x ATR: 385.98
1x ATR: 399.62
1.5x ATR: 403.03
2x ATR: 406.44

Good luck and let me know your stop and target please

 

[isatrader]

Canto1922 you limit order in BP.L was filled at 8.03am at 472

Trade Details:
BP (LSE:BP.)
Direction: Long
Entry: 472
Stop: 450
Target: 485

Percentage Risk: 4.89%
Target Gain: 2.75%

Risk Ratio: 0.56

Daily ATR(200): 11.46 (2.43%)
Weekly ATR(52): 32.28 (6.84%)

ATR Targets
-1x ATR: 460.54
1x ATR: 483.46
1.5x ATR: 489.19
2x ATR: 494.92

Good Luck

 

[isatrader]

SlipperyC your limit order to short the DAX index at 7180 was filled at 8am. Here are full entry details:

Trade Details:
DAX Index (DBI DAX)
Direction: Short
Entry: 7180
Stop: 7280
Target: 7000

Percentage Risk: 1.39%
Target Gain: 2.57%

Risk Ratio: 1.85

Daily ATR(200): 94.33 (1.31%)
Weekly ATR(52): 242.7 (3.38%)

ATR Targets
-1x ATR: 7274.33
1x ATR: 7085.67
1.5x ATR: 7038.51
2x ATR: 6991.34

Good Luck

 

[isatrader]

Morning dmt257, your buy stop order for GBP/JPY at 136.1 was filled at 7.33am. Here are the full trade details:

Trade Details:
GBPJPY (FX:GBPJPY)
Direction: Long
Entry: 136.1
Stop: 134.6
Target: 139.25

Percentage Risk: 1.11%
Target Gain: 2.31%

Risk Ratio: 2.08

Daily ATR(200): 1.2388 (0.91%)
Weekly ATR(52): 4.1979 (3.08%)

ATR Targets
-1x ATR: 134.86
1x ATR: 137.34
1.5x ATR: 137.96
2x ATR: 138.58

Good Luck

 

[isatrader]

Morning Pat, your market order for MARS.L was filled at the open price of 95.75

Trade Details:
Marstons (LSE:MARS)
Direction: Long
Entry: 95.75
Stop: 86
Target: 106

Percentage Risk: 11.34%
Target Gain: 10.70%

Risk Ratio: 0.94

Daily ATR(200): 2.37 (2.48%)
Weekly ATR(52): 5.77 (6.03%)

ATR Targets
-1x ATR: 93.38
1x ATR: 98.12
1.5x ATR: 99.31
2x ATR: 100.49

Good Luck

 

[wigtrade]

sorry isa
TSCO Long

stop 386
tgt 408

thanks
Wig

 

[isatrader]

sorry isa
TSCO Long

stop 386
tgt 408

thanks
Wig

No worries, I've updated the spreadsheet and created the alerts for them.

 

[isatrader]

TradeTheEasyWay your limit order for Meggitt (MGGT.L) was filled at 10.30am at 347

Trade Details:
Meggitt (LSE:MGGT)
Direction: Long
Entry: 347
Stop: 338
Target: 398

Percentage Risk: 2.66%
Target Gain: 14.70%

Risk Ratio: 5.52

Daily ATR(200): 8.45 (2.44%)
Weekly ATR(52): 21.67 (6.24%)

ATR Targets
-1x ATR: 338.55
1x ATR: 355.45
1.5x ATR: 359.68
2x ATR: 363.90

Good Luck

 

[Pat494]

TradeTheEasyWay your limit order for Meggitt (MGGT.L) was filled at 10.30am at 347

Trade Details:
Marstons (LSE:MGGT)
Direction: Long
Entry: 347
Stop: 338
Target: 398

Percentage Risk: 2.66%
Target Gain: 14.70%

Risk Ratio: 5.52

Daily ATR(200): 8.45 (2.44%)
Weekly ATR(52): 21.67 (6.24%)

ATR Targets
-1x ATR: 338.55
1x ATR: 355.45
1.5x ATR: 359.68
2x ATR: 363.90

Good Luck

Meggitt not Marstons ?

 

[isatrader]

Meggitt not Marstons ?

Yep your right. I used you entry post and didn't replace that bit. I will update it.
thanks Pat