ADVFN gets a enthusiasm injection

Hiya,





How is trading going for you? I have been so busy with other things at the moment it has been hard to find the time to look at anything. I am currently in one trade at the moment and at the time of writing it is £1.40 in profit!





However today's post is in regard to using ADVFN.





Previously I may have mentioned how I couldn't draw on a chart and then keep the details on the chart for the future. Well that has all changed now.





Have a look at this screenshot

I know it's hard to make out but can you see the option buttons on the left hand side?

Near the bottom there are some which are LOAD, SAVE and CLR. Once you have put your lines on the chart you can click on SAVE and then when you come back to them the next day if you press LOAD you can see if your trend line has been hit or whatever you are looking for.

I thought this was pretty amazing!

Closed for refurbishment

You know that rollercoaster I was queuing up for? Well it turns out it had to close due to essential maintenance work so I'll have to visit again tomorrow.

I am really considering buying a book to add to my learning. I am going to have a look at todays Power Plays in a minute so maybe something will come out of that.

If anyone has seen something then please leave a comment.

Cheers

New day new trade

Hiya,

Just a quick update on my most recent trade. I have shorted Aegis. Entry at 69.50 Stop at 77.00 and target at 47.00. Not in at the moment but the day is young.

I feel like I am in a queue for another rollercoaster ride in the theme park of spread betting!

Gunning For Stops

How are you doing?

I now have three trades under my belt and I am £10 lighter in my pocket. Not the greatest of starts but I have to admit my day job has been eating up my evenings too recently so it's been difficult to find a decent trade.

However I am going to short Lloyds today if I can get my platform up. No rules just based on the news. I know this could be a crazy thing to do but I will keep my losses small. Just to get back in the trading game!

Anyway I digress. What I wanted to talk about today was stop gunning. Have you had a power play which your stop just got hit, only for the stock then to go the way you thought it was going to?

I have heard on authority that this is known as stock gunning. I mean how many people would be training the same way we did? So therefore how many people will be placing their stop losses in the same place?

If I were running a large firm that could make an impact on the markets, would I be telling all my brokers to move the market just enough to hit these stops and take out all of us?

Of course I would! So even though we have had the trainingm it is almost like we have to be a bit inventive of where we put our stops.

This could be behind a moving average, behind a big number or even behind the trend line.

Putting the stop 1 point outside the previous high or previous low may not be enough. Yes it may mean you don't take a trade due to the risk:reward ratio, but would you rather have more profit or more trades...

Trailing Stop loss

Hiya,

I hit my 7th day yesterday on the GFS stock so it was time to move my stop loss to 194 from 200.8

I must admit I have gone against the rules today as I saw that my stop had nearly been hit. So I moved my stop up a little to 194.5.

I know I shouldn't have but I just wanted to stay in the trade a little longer. At this moment in time I have to move my stop to 195 tomorrow anyway!

How are you getting on finding new trades? I found another potential one last night SMT. The trade was triggered today so I'll let you know how that goes.

If anyone has come across any new ways of finding trades then post a message and I will turn it into a large post for all to read.

Cheers

Addicted to watching the screen

Hiya,

I hope everyone is still looking for trades everyday. I know it is hard to find them but you have to keep the habit up of looking. Otherwise the information you learnt at Traders University will lose it's impact.

I found a trade I think. It was with GFS. The activator day was yesterday 22/01/09 so I placed the trade last night. Entry 192.9 Stop 200.8 Target 160.

At the moment I have ADVFN open and can't keep my eyes off the flashing numbers. I'm 65 pence in profit at the moment!

Oh yeah just a quick note regarding trading accounts. I was using MFGlobal but found putting the trade on quite fiddley.

I have been using www.iii.co.uk for some time now for other things but recently I opened a spread betting account with them.

Not only do they offer 50 pence per point (I know MFGlobal do this now too) but they also give you £100 to play with. So for me I have made a 25% increase on my leverage as now I am only risking £400 but have the power of £500!

Check them out at www.iii.co.uk to see for yourself.

P.S. Can't stop watching those numbers 95 pence in profit. Fingers crossed for day 7!

Make the first trade

Hiya,

I hope everyone is having fun trying to look for the Power Plays. I just thought I'd share my experience of my first trade.

Well, it actually turned out to be a non trade. Yesterday (14th January) I looked on the lists and saw FXPO on the short power play.

It was just under the moving averages, in fact just bounced off a moving average. It looked like it was sort of in a trend and so did the sector.

I did my calculations and one slight error threw it all out. The previous low was 41.5 but instead of setting the entry at 40.5 (as it was a short) I set it as 42.5. As my stop was 48.25 and my target was 24.75, it fit within the 3:1 risk ratio.

However after setting it up last night ( I did have to check the details with the book on how to set it up numerous times) I thought I would look at it this morning.

It seemed so obvious on review that the entry should have been 40.5. But it being there meant my risk reward ratio was 2.03:1 meaning no trade.

Luckily for me my entry point had not been triggered. In fact it touched it but didn't go through, so I could cancel the trade.

So if you see a trade. Check your figures, go off and do something else for 30 minutes and then recalculate your figures with a fresh pair of eyes.