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
Friday, 30 January 2009
Friday, 23 January 2009
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!
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!
Thursday, 15 January 2009
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.
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.
Monday, 12 January 2009
So close yet so far
Good evening,
I have just run through all the Power Play Long for the evening and nothing seemed to jump out.
Personally I am going to concetrate on the Power Plays until I am confident with them. After all it was what Craig did and he is very successful.
Just to see what you thought of my findings. Check out TWL. I agree the uptrend is short so maybe on the dubious side but looking over that I found the following.
Target 826.93 (I based this on the horiztonal resistance displayed a few weeks earlier)
Entry 746 1 point outside of the todays high
Stop 706 1 point outside of todays low.
Seeing as the risk was 40 points and the reward was 80 points I didn't take this trade.
It's a bit time consuming but like any new skill, it takes time to perfect.
Happy hunting!
I have just run through all the Power Play Long for the evening and nothing seemed to jump out.
Personally I am going to concetrate on the Power Plays until I am confident with them. After all it was what Craig did and he is very successful.
Just to see what you thought of my findings. Check out TWL. I agree the uptrend is short so maybe on the dubious side but looking over that I found the following.
Target 826.93 (I based this on the horiztonal resistance displayed a few weeks earlier)
Entry 746 1 point outside of the todays high
Stop 706 1 point outside of todays low.
Seeing as the risk was 40 points and the reward was 80 points I didn't take this trade.
It's a bit time consuming but like any new skill, it takes time to perfect.
Happy hunting!
To make a change, something has to change.
Hello and welcome to the Trade Winners Blog.
I have always been told that two brains are better than one, therefore more than two brains should be even better than that!
As a successful trader it is important to share any ideas in order to help fellow traders improve. After all we are not in competition with each other and if one wins we all can win.
Mark this page in your favourites and return with any stories you may have bad or good.
To finish of this first quick message, take note of the title.
Have a look at some charts, do your research. If you find something that fits all the rules then don't hesitate to press that trade button!
Here is to a successful life in trading.
I have always been told that two brains are better than one, therefore more than two brains should be even better than that!
As a successful trader it is important to share any ideas in order to help fellow traders improve. After all we are not in competition with each other and if one wins we all can win.
Mark this page in your favourites and return with any stories you may have bad or good.
To finish of this first quick message, take note of the title.
Have a look at some charts, do your research. If you find something that fits all the rules then don't hesitate to press that trade button!
Here is to a successful life in trading.
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