One Trade a Week

[isatrader]

I took 2/3rds profits in my real account on FXPO.L at 474.45 as I'd made a 1ATR gain and it had also reached the daily R2 pivot level. So I have a guaranteed ATR adjusted gain locked in of 0.56% if the remaining 1/3rd gets stopped out in my real account.

I'm going to trial this method for a while and see if it suits my style of trading as I like the idea of getting risk off as soon as is practical.

 

[isatrader]

Positions Update

Attached is the positions update for today and the intraday charts of the positions and general markets. Open positions are highlighted in red.

dmt257 currently leads with his excellent A+ trade in the GBPJPY which he closed for a 2.54% ATR adjusted gain. I think it's going to be a hard one to beat this week.

Let me know if anyone wants to make any changes to their stops or targets

Cheers

 

[wigtrade]

sweet. Beginners luck:d

bandit!!!

 

[isatrader]

Positions Update

A rough morning so far for the majority of the open trades. Hopefully the morning sell off will turn into an afternoon rally once the ECB rates announcement is out of the the way at 12.45pm. :| Attached is the thumbnail view of the charts.

 

[isatrader]

As there's only one day to go I'm going to tighten my stop loss to just below today's low. Especially with the panic mongering on the financial channels after today's quake.

FXPO.L stop loss to 459.9

 

[Canto1922]

The 'one trade a week' competition usefully highlights the importance of external factors in determining the overall trend in the market & individual stocks as a consequence. Analysis of reasons given for a particular selection remind one how important it is to be aware of the bigger picture..

 

[isatrader]

An interesting day in the markets. UK and ECB rate decisions and also an earthquake in Japan thrown into the mix. Most of the trades took a bit of a hit so dmt257 still leads and will be very hard to catch with only one day to go.

Attached is the updated position spreadsheet and intra-day charts

 

[isatrader]

The 'one trade a week' competition usefully highlights the importance of external factors in determining the overall trend in the market & individual stocks as a consequence. Analysis of reasons given for a particular selection remind one how important it is to be aware of the bigger picture..

It's so true. The books I've been reading recently highlighted that when trading individual stocks roughly 75% of the price action can be attributed to the general market and the sector the stock trades in. So it's very important to consider these and other external factors.

I like this quote from Reminiscences of a Stock Operator:

"A trader, in addition to studying basic conditions, remembering market precedents and keeping in mind the psychology of the outside public as well as the limitations of his brokers, must also know himself and provide against his own weaknesses."

 

[Canto1922]

Quote from Reminiscences of a Stock Operator sadly all too true - can be a seriously difficult way to earn some money, especially in the early days! Tenacity & order help.

 

[isatrader]

exit

 

[isatrader]

My exit time on the thread was 7.47am GMT, so that's 8.47am BST and the closing price was 478.9 for FXPO.L

Closing Trade

Ferrexpo (FX:FXPO)
Direction: Long

Entry: 460.3
Exit: 478.9

Percentage Gain: 4.04%

ATR Adjusted Percentage Gain: 1.28%

Trade Grade: B

I'm fairly pleased with this trade in FXPO.L as I closed it in my target range between 1 and 2% ATR adjusted and showed good relative strength against the market all week which was my aim. I still have 1/3rd of my position open in my real account and I'm using a trailing stop so I will see how much more or less the market is willing to give me.

 

[isatrader]

Don't forget to close your positions today. If you don't exit manually on the thread then you will get the closing price at the end of the day.

To exit manually on the thread just type a quick post saying: "exit" and I will give you the closing price of the one minute bar using the time from the thread +1 hour as it uses GMT time.

Ok, I'm going to go enjoy the sunshine for a bit.

 

[TradeTheEasyWay]

MGGT: Exit 352 as I speak - dissapointed with this one, nice set up but too slow.

I'm not going to trade UK stocks in this competition any more, a week is not enough to get most of these going.

Another good week for us. Have a great weekend all.

MIke

 

[isatrader]

MGGT: Exit 352 as I speak - dissapointed with this one, nice set up but too slow.

I'm not going to trade UK stocks in this competition any more, a week is not enough to get most of these going.

Another good week for us. Have a great weekend all.

MIke

Thanks Mike, I have the closing price at 351.4 for MGGT.L at your exit time on the thread so here's your closing details:

Closing Trade

Meggitt (LSE:MGGT)
Direction: Long

Entry: 347
Exit: 351.4

Percentage Gain: 1.27%

ATR Adjusted Percentage Gain: 0.52%

Trade Grade: C

A small gain after a mostly down week for this one. So a steady grade C for this one.

 

[isatrader]

Intra-day Positions Update

Here's a look at the intra-day charts of the groups positions so far today. It looks like I got out near the high of the day for FXPO.L which is pleasing. It had reached the top end of the daily ATR range which is at 481.09 today so the ATR range method worked quite well on this one this week.

Attached is the charts

 

[Pat494]

Re: Intra-day Positions Update

Here's a look at the intra-day charts of the groups positions so far today. It looks like I got out near the high of the day for FXPO.L which is pleasing. It had reached the top end of the daily ATR range which is at 481.09 today so the ATR range method worked quite well on this one this week.

Attached is the charts

Gold and silver still rocketing up

 

[isatrader]

Re: Intra-day Positions Update

Gold and silver still rocketing up

It's a strong seasonal time for gold now and silver is highly correlated but has slightly different seasonal patterns. May is normally the end of it until September when the Indian jewellery demand starts again for the wedding season.

See attached price research from Zeal that I like to look at for seasonal patterns.

 

[isatrader]

Ok, another week is over so the remaining positions are closed automatically at today's closing price. Here are the closing trades details:

Closing Trades

Pat494

Marstons (LSE:MARS)
Direction: Long

Entry: 95.75
Exit: 97

Percentage Gain: 1.31%

ATR Adjusted Percentage Gain: 0.53%

Trade Grade: C

Canto1922

BP (LSE:BP.)
Direction: Long

Entry: 472
Exit: 478.5

Percentage Gain: 1.38%

ATR Adjusted Percentage Gain: 0.57%

Trade Grade: C

wigtrade

Tesco (LSE:TSCO)
Direction: Long

Entry: 392.8
Exit: 395.55

Percentage Gain: 0.70%

ATR Adjusted Percentage Gain: 0.40%

Trade Grade: C-

SlipperyC

DAX Index (DBI DAX)
Direction: Short

Entry: 7180
Exit: 7217.02

Percentage loss: -0.51%

ATR Adjusted Percentage Loss: -0.39%

Trade Grade: D

So that's another week over. Newcomer dmt257 wins this week and gets the first performance point of the quarter :clap:.

I'll do a full write tomorrow with the spreadsheets as normal.

Below is the intra-day charts

 

[isatrader]

Well done to our new group member dmt257 for taking the first win of the second quarter with an A+ trade in the GBPJPY, capturing 315 points or a 2.54% ATR adjusted gain.

Week 10 Results

Name_________ATR Adjusted Percentage
dmt257____________2.54%
isatrader___________1.28%
Canto1922__________0.57%
Pat494_____________0.53%
TradeTheEasyWay____0.52%
wigtrade___________0.40%
SlipperyC__________-0.39%

Name_________Performance Points
dmt257____________1

Don't forget to get your picks in as usual by the end of the weekend and try and include some charts with your picks if you can

Well done everyone. Keep up the good work.

Cheers

 

[TradeTheEasyWay]

Well done yet again. I'm having to work hard to keep up with you Guys. So I'm steering clear of any boring UK stocks and going for gold, well beans actually.

Soybeans - may contract
Closed above fib play zone
- seasonal play
- very weak US$

Entry: 13.85
Stop: 13.59
Target: 14.60

Mike Hamilton