TRADER'S CORNER

For ever odd · 22-07-2015 9:14pm

arrowloopboy wrote: »

Im in at 126.90 ,and nearly jumped on more at 120.00 ,as I was logged on while watching the release ,but didn't as the part of my brain telling me it was a revenge trade won out over the heres a flash sale fill yer boots part of my brain:D.
150.00 by year end ,the affluent Chinese don't want Chinese made phones/tablets etc,apple branded goods are a status symbol which they won't mind paying for ,STRONG BUY,ya heard it here

Have a look at the weekly charts and you will see divergence on rsi and macd, it is even more obvious on the monthly charts. The macd looks like it is about to cross under and the last time it did it dropped $40 from its peak. (monthly)

I watched it last night and a near 1000 point candle in 1minute drop. I took a quick 200 points from 120 to 122.

arrowloopboy · 23-07-2015 12:16am

For ever odd wrote: »

Have a look at the weekly charts and you will see divergence on rsi and macd, it is even more obvious on the monthly charts. The macd looks like it is about to cross under and the last time it did it dropped $40 from its peak. (monthly)

I watched it last night and a near 1000 point candle in 1minute drop. I took a quick 200 points from 120 to 122.

Good points ,well made,but I don't trade off technicals ,its already back up to 125.60 ,I really can't see apple back at 85 bucks a share ,nice trade btw:D

jpboard1 · 23-07-2015 1:51am

Anybody trade GBP/NZD?

For ever odd · 24-07-2015 7:52pm

jpboard1 wrote: »

Anybody trade GBP/NZD?

Not yet.
What are your thoughts?

Thargor · 24-07-2015 10:33pm

Thargor wrote: »

Record profits for AAPL and of course they crash down to $123, now Im thinking of buying again, Tesla and Apple are infuriating to hold, sometimes Im completely relaxed about both companies and think they're a no-brainer for long term, then other times I'm completely paranoid about logging on some day and seeing the arse has fallen out of one or both of them.

I knew it was coming, looks like the bubble has popped this evening:

jpboard1 · 26-07-2015 2:36pm

For ever odd wrote: »

Not yet.
What are your thoughts?

I am short but will dump if we see new highs.

For ever odd · 26-07-2015 9:57pm

jpboard1 wrote: »

I am short but will dump if we see new highs.

Possible cup and handle on the weekly charts if your senerio plays out over the Next few weeks.

What are the fundamentals like?

jpboard1 · 26-07-2015 10:02pm

For ever odd wrote: »

Possible cup and handle on the weekly charts if your senerio plays out over the Next few weeks.

What are the fundamentals like?

Fundamentals would back up my view but I may be early(often my weakness!). I am not a chartist so have no idea from that side.

For ever odd · 26-07-2015 10:38pm

jpboard1 wrote: »

Fundamentals would back up my view but I may be early(often my weakness!). I am not a chartist so have no idea from that side.

Ok.

http://www.investopedia.com/university/charts/charts3.asp

jpboard1 · 27-07-2015 9:28am

I am tightening up the stop here. I am in for long haul but am a little worried about AUD weakness so don't want to risk too much yet. As I say, might be a bit early

jpboard1 · 28-07-2015 10:43pm

If you followed that trade, I would close half now or move to break even if you can't close half.

dasdog · 28-07-2015 11:53pm

jpboard1 wrote: »

If you followed that trade, I would close half now or move to break even if you can't close half.

I was wondering what the noise was about after 10pm elsewhere. Their central bank Gov Wheeler going hawkish with a one and done rate cut in Sept? I've read he's got a bit of a reputation for being unpredictable. AUD dragged up with it, I'll maintain them as a target.

jpboard1 · 29-07-2015 12:28am

I'm basing my view on the Fed intent. They need a weaker dollar. Also, I don't really see commodities too much lower than now.

jpboard1 · 29-07-2015 6:17pm

Trade now deep in the money so take profit as you see fit. I will hold out another while

jpboard1 · 29-07-2015 7:35pm

I am also short USD/CAD and long EUR/USD & EUR/JPY for those who are interested.

For ever odd · 29-07-2015 8:32pm

I Will look to fade the spike for a in and out trade on Facebook..trading off a one minute chart, second minute to 5 minutes is my target time.

Edit

9170-9370 minus the spread, second minute only. Done for week.

dasdog · 29-07-2015 8:55pm

Bought on first EUR dip at 110 which went well and again the second time which didn't go so well. Not sure if EUR/USD 1.0975 pull back is shorts closing or support.

Currently long GBP/USD at 1.5605 and USD/CAD at 1.2945 as a hedge.

EDIT
Closed GBP/USD @ 1.5610 @ 3.2 Pips after US GDP print
Closed USD/CAD @ 1.2984 @ 33.4 Pips this morning

Tugboats · 29-07-2015 9:14pm

For ever odd wrote: »

I Will look to fade the spike for a in and out trade on Facebook..trading off a one minute chart, second minute to 5 minutes is my target time.

Edit

9170-9370 minus the spread, second minute only. Done for week.

Had an order to buy at 90.56. Never got there unfortunately

jpboard1 · 29-07-2015 11:10pm

The dollar should weaken eventually. I am positioning myself accordingly

Tugboats · 30-07-2015 3:52pm

Long the Dow @17640. SL 17610. Have target around 17780. Would be a nice end to a good July

EDIT: SL moved up to 17658
EDIT2: SL moved up to 17704
EDIT3: Its getting too near the close and target hasn't been reached so closing manually @17750

Fizman · 30-07-2015 5:23pm

Tugboats wrote: »

Long the Dow @17640. SL 17610. Have target around 17780. Would be a nice end to a good July

EDIT: SL moved up to 17658
EDIT2: SL moved up to 17704

Nearly there already!

Today was my first day back properly in front of the markets in over 2 weeks due to holidays etc so I convinced myself I was tuned out so I just observed. I wrote a few fake trading tickets that I didn't want to action. Would have been a profitable day had I been bold enough to go for them, turns out I wasn't as 'tuned out' as I led myself to believe.

Technically only traded for 1 week this month, and hit 75% of monthly target so I'll certainly be happy with that.

It's nice to have somewhat normal markets available again now that Greece has been pushed to the side for the time being.

For ever odd · 30-07-2015 9:16pm

A bit of a winning streak starting to emerge here.

Well done lads!!

ixus · 30-07-2015 10:04pm

Interested to know various type of trader posting here. Are you full time, part time but with easy access to market, only look at it end of day or weekly?etc

Resources you use?

jpboard1 · 30-07-2015 10:48pm

I am part time but check in regular. I also pay for a service which I find good. I work off fundamentals, mid to long term. I would be interested to hear about others too. Also, curious to here about short term traders and the tools they use for entry and exit.

For ever odd · 30-07-2015 11:28pm

ixus wrote: »

Interested to know various type of trader posting here. Are you full time, part time but with easy access to market, only look at it end of day or weekly?etc

Resources you use?

Part time retail trader.

Hybrid.... Macro Fundamentals and technical analysis.

Discretionary....Position, swing, fade and scalp. Preference in that order.

How about you? What resources do you use?

ixus · 31-07-2015 12:53am

Full time, it's the job. Futures trader, i've posted on this before. I cover anything that moves really, equity indexes, commodities and bonds. Not into fx really.

arrowloopboy · 31-07-2015 8:37am

Thank God for smart phones,also part time,i'm a system trader ,which is mostly mechanical ,which suites ,i'm also a big fan of trades with a high historical probability of profit (santa rally,1st 1/4 housebuilders FTSE ,dogs of the s/p,ejections from ftse 100 etc).
I'll trade anything I can see good value in (not the ben graham type of value).

dasdog · 31-07-2015 10:40am

Amateur mostly short term or intra day with fx, jumped in the deep end eight months ago. Layman's share dealing prior to that. Use others technical's and my own macro ideas. Only very recently found a use for Twitter.

Today:

Jumped in on EUR/CAD 1.4266 just after EUR CPI at 10am. Not expecting Canada's May GDP to be good (Michael O'Neil based there on trading floor has going on about it all week). Syriza squabble is a potential threat so stop in place just above open.

EDIT
Not sure what to do with this one. It peaked around 1.445 @ 188 pips but the aggressive sell of you'll see in the EUR/USD charts occurred. Fundamentals however are not sound for Canada with a rate cut prospective, election in Oct (socialists in front last time I looked) and crude oil being one of their main exports. Recent EUR/CAD July 27th peak was the highest since early February. I like the look of the curve and stop moved up, trade currently @ 115 pips. A Shanghai Composite collapse on Sunday would be nice.

Fizman · 31-07-2015 12:24pm

Only trading a live account for 4 months now so still a very green amateur but happy with how I've performed so far and really enjoying it.

Current trading plan matches up to the time I can give to the market, so DAX in the am (fade was working nicely before Greece came along), also trade on EUR/USD as a secondary product, and Gold is my current 'strategic' product.

I'd refer to charts for pretty much most trades, but don't specifically trade off of TA. I've found TA more useful to convince me that this isn't a good idea to trade as opposed to specifically open a trade just because the TA gave me the green light. Typically refer to pivot points, and a fan of Bollinger Bands, Williams. More recently beginning to have a look at Stochastic and MACD but early days there. Probably stick with 3 way combo of pivot/Boll/Williams for now.

Sold Eur/Usd today @ 109.80 (resistance), 40 point SL, 80 point target.

Tugboats · 31-07-2015 12:46pm

Fizman wrote: »

Only trading a live account for 4 months now so still a very green amateur but happy with how I've performed so far and really enjoying it.

Current trading plan matches up to the time I can give to the market, so DAX in the am (fade was working nicely before Greece came along), also trade on EUR/USD as a secondary product, and Gold is my current 'strategic' product.

I'd refer to charts for pretty much most trades, but don't specifically trade off of TA. I've found TA more useful to convince me that this isn't a good idea to trade as opposed to specifically open a trade just because the TA gave me the green light. Typically refer to pivot points, and a fan of Bollinger Bands, Williams. More recently beginning to have a look at Stochastic and MACD but early days there. Probably stick with 3 way combo of pivot/Boll/Williams for now.

Sold Eur/Usd today @ 109.80 (resistance), 40 point SL, 80 point target.

Ive spent this year working on getting more precise entries. For FX i rarely have a stop wider than 15. I had a 12pip stop on cable this morning. If you can work on tightening you will be amazed at the results

Fizman · 31-07-2015 1:04pm

Tugboats wrote: »

Ive spent this year working on getting more precise entries. For FX i rarely have a stop wider than 15. I had a 12pip stop on cable this morning. If you can work on tightening you will be amazed at the results

Yeah I guess it depends on stake size too to an extent, and where it all fits into an individuals trading maths and risk management.

Out of interest, do you have a typical target in terms of Risk Reward ratio? E.g. for your 12 pip SL, would you have a defined target limit of 12, 24 etc? Have you adjusted your stake size since you've tightened your positions?

Tugboats · 31-07-2015 1:18pm

Fizman wrote: »

Yeah I guess it depends on stake size too to an extent, and where it all fits into an individuals trading maths and risk management.

Out of interest, do you have a typical target in terms of Risk Reward ratio? E.g. for your 12 pip SL, would you have a defined target limit of 12, 24 etc? Have you adjusted your stake size since you've tightened your positions?

Ya Ive adjusted my size. That was the hardest part having the confidence to trust the tight stop but Im comfortable spreadbetting @ 15-20pounds per point now. I have my R worked out when planning the trade but obviously it doesn't always go to target. Im still working on specific rules for my trading for moving my stop or scaling out at areas. Its hard for me anyway to get a plan written down on paper

For ever odd · 31-07-2015 8:56pm

Tugboats wrote: »

Ive spent this year working on getting more precise entries. For FX i rarely have a stop wider than 15. I had a 12pip stop on cable this morning. If you can work on tightening you will be amazed at the results

A exercise I used to do when my stops were getting hit alot, was to write my entry point and stop loss down and then change my entry point to where my stop was and half the original stop.

I don't think it applicable to yourself, but it might help anybody that is struggling with entry points.

For ever odd · 01-08-2015 7:57pm

ixus wrote: »

Full time, it's the job. Futures trader, i've posted on this before. I cover anything that moves really, equity indexes, commodities and bonds. Not into fx really.

Cool, I wasn't sure if your circumstances had changed or not.
If you are sticking around for a while, any posts on here would be more than welcome! and that goes to all the other pro traders who have stopped posting.

For ever odd · 02-08-2015 1:39pm

Fizman wrote: »

Only trading a live account for 4 months now so still a very green amateur but happy with how I've performed so far and really enjoying it.

Current trading plan matches up to the time I can give to the market, so DAX in the am (fade was working nicely before Greece came along), also trade on EUR/USD as a secondary product, and Gold is my current 'strategic' product.

I'd refer to charts for pretty much most trades, but don't specifically trade off of TA. I've found TA more useful to convince me that this isn't a good idea to trade as opposed to specifically open a trade just because the TA gave me the green light. Typically refer to pivot points, and a fan of Bollinger Bands, Williams. More recently beginning to have a look at Stochastic and MACD but early days there. Probably stick with 3 way combo of pivot/Boll/Williams for now.

Sold Eur/Usd today @ 109.80 (resistance), 40 point SL, 80 point target.

Steve Nison is the kiddy you want to be reading. You can add in indicators after if you need to.
https://youtu.be/b7SPaq8dr7I

For ever odd · 02-08-2015 1:53pm

dasdog wrote: »

Amateur mostly short term or intra day with fx, jumped in the deep end eight months ago. Layman's share dealing prior to that. Use others technical's and my own macro ideas. Only very recently found a use for Twitter.

Today:

Jumped in on EUR/CAD 1.4266 just after EUR CPI at 10am. Not expecting Canada's May GDP to be good (Michael O'Neil based there on trading floor has going on about it all week). Syriza squabble is a potential threat so stop in place just above open.

EDIT
Not sure what to do with this one. It peaked around 1.445 @ 188 pips but the aggressive sell of you'll see in the EUR/USD charts occurred. Fundamentals however are not sound for Canada with a rate cut prospective, election in Oct (socialists in front last time I looked) and crude oil being one of their main exports. Recent EUR/CAD July 27th peak was the highest since early February. I like the look of the curve and stop moved up, trade currently @ 115 pips. A Shanghai Composite collapse on Sunday would be nice.

You have let it retrace over 30% and you are not sure what to do.
Trade plan?

dasdog · 02-08-2015 3:56pm

For ever odd wrote: »

[/B]

You have let it retrace over 30% and you are not sure what to do.
Trade plan?

Yes, I expected that and decided not to grab a quick profit, 113 at market close. Negative US data and any trouble in China will boost this.

The Canadian Parliament was dissolved this morning. Prospects don't look good for CAD. Going to hold on to this if it survives the week as it has a lot of potential but I'll update the thread if I close.

For ever odd · 02-08-2015 5:51pm

dasdog wrote: »

Yes, I expected that and decided not to grab a quick profit, 113 at market close. Negative US data and any trouble in China will boost this.

The Canadian Parliament was dissolved this morning. Prospects don't look good for CAD. Going to hold on to this if it survives the week as it has a lot of potential but I'll update the thread if I close.

Sweet! if you think it is a runner, A future's contract could be used as a hedge against dips.

jpboard1 · 02-08-2015 7:13pm

For ever odd wrote: »

Steve Nison is the kiddy you want to be reading. You can add in indicators after if you need to.

Steve nison?

Tugboats · 02-08-2015 7:17pm

jpboard1 wrote: »

Steve nison?

he teaches candlesticks. He cant trade himself but some of is stuff is ok if you can pick it up for free

http://www.amazon.co.uk/s/ref=nb_sb_ss_c_0_11?url=search-alias%3Dstripbooks&field-keywords=steve+nison&sprefix=steve+nison%2Caps%2C1212

jpboard1 · 02-08-2015 7:26pm

I am interested in any tips/material for short term trading. I have got a decent handle on long term and fundamentals. Just want to improve short term execution.

For ever odd · 03-08-2015 2:06pm

jpboard1 wrote: »

I am interested in any tips/material for short term trading. I have got a decent handle on long term and fundamentals. Just want to improve short term execution.

You are probably going have to figure that one out for yourself. What suits one trader, might not suit another.

Try a Google of short term trading and it should open a few avenues of thought for you.

Tugboats · 03-08-2015 6:06pm

AAPL having a poor day again. Will be looking for longs. Cnbc won't allow it to drop much further

For ever odd · 03-08-2015 7:31pm

FTSE is floating around the 6630 level again, my bias is to the downside... I will be a seller below and a buyer above this level tomorrow 5 point stops will be used.

I'll be keeping an eye on oil and FTSE

Tugboats · 05-08-2015 6:37pm

Slow week no opportunities at all

For ever odd · 06-08-2015 1:08am

I was thinking of you, thought you might of gone in Apple.
Sit on hands till Friday.

Ixus, if you have the time, Would it be possible to post three or four futures of your choice on a one minute hi/lo?

Just so us mere spreadbetters can see how much we are been screwed.

Tugboats · 06-08-2015 12:27pm

Was watching it but didnt see an entry. Continue to fire blanks this week had an order to short Euro this morning at 109.49 but sold off just before getting there:(

Tugboats · 06-08-2015 1:56pm

Short EUR/USD 108.93. SL 109.01. Target 10850s

EDIT SL hit

jpboard1 · 06-08-2015 10:59pm

I really think we are going to see the dollar weaken in the medium term. I am long eur/usd & long eur/jpy

For ever odd · 07-08-2015 7:39am

jpboard1 wrote: »

I really think we are going to see the dollar weaken in the medium term. I am long eur/usd & long eur/jpy

Ok, you have the floor. Can you give us a few bullet points why you think that?

TRADER'S CORNER

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