One Trade a Week

[SlipperyC]

You were right first time, I wanted to close the trade.

Thanks isatrader.

 

[isatrader]

You were right first time, I wanted to close the trade.

Thanks isatrader.

Okay I better log off for a while and do some work. It worked pretty much how I wanted it to today. And I think once everyones trades are closed later in the week then we can look at the charts of the trades and maybe discuss how we could have done better with the benefit of some hindsight, if you're up for that?

 

[SlipperyC]

Yes, objective analysis is always helpful.

 

[isatrader]

Exit - FRES

 

[isatrader]

Fresnillo (FRES) – Closed Position

Closing Trade

The ADVFN closing price on the 1 minute bar at 09.03am was 1329

So therefore:

Entry: 1285
Exit: 1329

Percentage Gain: 3.42%

ATR Adjusted Percentage Gain: 1.03%

 

[isatrader]

BP Short Target Hit

Ticker: BP.L
Direction: Short

Planned Entry: 486.60p

Stop loss: 493
Target: 475

Entry Reason:
Major shareholders unhappy with the Rosneff deal and US politicians annoyed BP have gone behind their back to do deals with the Russians

Closing Trade

BP hit the target price of 475p at 09.49am

So therefore:

Entry: 486.60p
Exit: 475p

Percentage Gain: 2.44%

ATR Adjusted Percentage Gain: 0.80%

Well done Pat

This weeks ATR adjusted closed trades
SlipperyC: 0.42%
isatrader: 1.03%
Pat494: 0.80%

Mike is the only trader still open in his CADJPY short. A closing trade at 81.5 or below would give Mike the win for the week.

 

[Pat494]

Re: BP Short Target Hit

Closing Trade

BP hit the target price of 475p at 09.49am

So therefore:

Entry: 486.60p
Exit: 475p

Percentage Gain: 2.44%

ATR Adjusted Percentage Gain: 0.80%

Well done Pat

This weeks ATR adjusted closed trades
SlipperyC: 0.42%
isatrader: 1.03%
Pat494: 0.80%

.

3 winners out of 3 - off to a great start !!

Perhaps points awarded at week's end, for a league table and thus aid anyone interested as to the likely quality of the forecast ?
Up to you as thread starter

 

[isatrader]

Re: BP Short Target Hit

3 winners out of 3 - off to a great start !!

Perhaps points awarded at week's end, for a league table and thus aid anyone interested as to the likely quality of the forecast ?
Up to you as thread starter

SlipperyC suggested 2pts for a winning trade, 1pt for breakeven, 0pts for a losing trade. But I've thought about it a bit and I think I'm going to change it a little:

So the simple scoring will be as follows:

0 points - for a loss
1 point - for breakeven or a profit
2 points - weekly winner (determined by ATR adjusted percentage gain)

Are you all happy with that?

 

[SlipperyC]

Yep. I'll go with it.

 

[Pat494]

Re: BP Short Target Hit

SlipperyC suggested 2pts for a winning trade, 1pt for breakeven, 0pts for a losing trade. But I've thought about it a bit and I think I'm going to change it a little:

So the simple scoring will be as follows:

0 points - for a loss
1 point - for breakeven or a profit
2 points - weekly winner (determined by ATR adjusted percentage gain)

Are you all happy with that?

Up to you of course but a loss should be negative e.g. -1, so 10 losses and 1 win would be -9 not +1 ???????????

 

[isatrader]

Re: BP Short Target Hit

Up to you of course but a loss should be negative e.g. -1, so 10 losses and 1 win would be -9 not +1 ???????????

Good point. Ok revised:

-1 point - for a loss
0 points - for breakeven
1 point - for a profit
2 points - weekly winner (determined by ATR adjusted percentage gain)

Thoughts?

 

[TradeTheEasyWay]

Re: BP Short Target Hit

SlipperyC suggested 2pts for a winning trade, 1pt for breakeven, 0pts for a losing trade. But I've thought about it a bit and I think I'm going to change it a little:

So the simple scoring will be as follows:

0 points - for a loss
1 point - for breakeven or a profit
2 points - weekly winner (determined by ATR adjusted percentage gain)

Are you all happy with that?

Sounds fine to me. :clover:

 

[Pat494]

Re: BP Short Target Hit

Good point. Ok revised:

-1 point - for a loss
0 points - for breakeven
1 point - for a profit
2 points - weekly winner (determined by ATR adjusted percentage gain)

Thoughts?

Spot on

but just a second I expect someone will say they have only a 30% win/loss rate and still make big profits ? As opposed to a 70% win/loss rate making losses. Which means the size of the win/loss may have to be calculated ?

Don't bother if its too much hassle tho

:whistling

 

[isatrader]

Re: BP Short Target Hit

Spot on

but just a second I expect someone will say they have only a 30% win/loss rate and still make big profits ? As opposed to a 70% win/loss rate making losses. Which means the size of the win/loss may have to be calculated ?

Don't bother if its too much hassle tho

:whistling

I can do all sorts if I have the time. So will add it to the mix.

I was going to keep a equity curve line chart for each trader anyway if the group is small so everyone will have a visual reference of how they are doing. Is up to members though if they want their chart shown or private. I will definitely show the group as a wholes chart though.

 

[trader_dante]

Re: BP Short Target Hit

I will definitely show the group as a wholes chart though.

Let me know when you guys launch a fund ;-)

 

[TradeTheEasyWay]

If you GUys are interested, I produce a free daily video of UK / US markets.
Click - SUBSCRIBE when you get there and you will get the updates.

It's only 3 minutes on average.

http://www.youtube.com/thetradermike


Happy trading

Mike

 

[isatrader]

If you GUys are interested, I produce a free daily video of UK / US markets.

I had a look Mike, is a nice clear video I'm undecided on an oil trade myself yet. As it's the seasonal low period in February, but this Egypt turmoil has kept the prices up, so I'm waiting for a bit of resolution on that before getting back in as oil has caught me out before as the down moves are sharp.

Your CADJPY trade is just below break even at the moment, so you've got two days for it to hit your target, which you can change if you want at any time. I think I worked out that you need to get to 81.5 to win this week. So let me know if you want to change it.

Cheers

 

[isatrader]

Re: BP Short Target Hit

Let me know when you guys launch a fund ;-)

Lol. 2 and 20 minimum entry fees for potential investors :cheesy:

 

[TradeTheEasyWay]

I had a look Mike, is a nice clear video I'm undecided on an oil trade myself yet. As it's the seasonal low period in February, but this Egypt turmoil has kept the prices up, so I'm waiting for a bit of resolution on that before getting back in as oil has caught me out before as the down moves are sharp.

Your CADJPY trade is just below break even at the moment, so you've got two days for it to hit your target, which you can change if you want at any time. I think I worked out that you need to get to 81.5 to win this week. So let me know if you want to change it.

Cheers

Thanks. I took oil, 90 points + at the highs this morning.

I have my stop on cadjpy just above yesterdays bar now for a potential small loss. It's a live trade. I don't bail out when it goes against me, I have set rules how to handle this. If I don't win this week there is always next.

Thanks again.

Mike

 

[isatrader]

Thanks. I took oil, 90 points + at the highs this morning.

I have my stop on cadjpy just above yesterdays bar now for a potential small lose. It's a live trade. I don't bail out when it goes against me, I have set rules how to handle this. If I don't win this week there is always next.

Thanks again.

Mike

Good luck with your oil trade. I think it will be good to see how all the different players handle their trades each week on this thread, and will hopefully help us all trade better in the long run.