Price Action Swing Trading - The PAST Strategy

[Nigel Price]

Stop on the DAX 9275 to start with.

I can't stress this enough:

If you are going to trade with multiple entries, never, ever, open an additional position unless all currently open positions have stops at breakeven or better.

We compound GAINS, not losses.

Very important.

 

[Nigel Price]

Bears are looking sporty to the downside. Hopefully this is the move we have been patiently waiting for

 

[Nigel Price]

FTSE seems to be breaking down too - but I have no trade there, because my current DAX trade does not yet have a stop at breakeven.

(**see what I did there?**)

 

[Nigel Price]

DAX now at breakeven, entered short on FTSE on break of trendline at 6699.

Going to continue to be aggressive for as long as it seems that price is moving in my direction.

Strike when the iron is hot.

 

[Nigel Price]

My stop for FTSE is 6612 initially.

 

[Nigel Price]

Current floating P/L:

CAC: +31 (stop at breakeven/risk-free)
DAX: + 46 (stop at breakeven/risk-free)
FTSE: -8 (total risk 12 points)

TOTAL: +69

 

[Nigel Price]

FTSE out for -12

 

[Nigel Price]

Seems as though the bears are taking breather here, which is entirely normal.

I'll be watching to see if we get any retraces/new trendlines that might give me further opportunities for entry.

 

[Nigel Price]

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[Nigel Price]

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[Nigel Price]

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[Nigel Price]

I can't take this CAC trade because my DAX has not yet got its stop at B/E.

Looks good so far though.

The only concern I have it that we are coming to London close in an hour, and once it's only the US open, equities just always seem to grind slowly higher.

Let's see what happens...

 

[Nigel Price]

Ok, my final trade for today - DAX is out at stop for a loss, which does sting, not going to lie.

I'm in just under the equivalent trendline on the CAC.

Next time I think about shorting equities can someone punch me please

I'll count up the stats from today now shortly and post them here.

 

[Nigel Price]

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[jonnymac]

Loving the Updates

Hi Nigel
Just wanted to say I and I am sure lots of us are getting so much out of your updates.
Patience and discipline are the key things I am getting it is really great to share your way of thinking with us .
btw when is your next chapter of your apprenticeship coming out looking forward to reading it .

ps I am long on the eur/gbp currently up 60 points with stop at b/e will see how it goes over the next day or so.
In the past I would have closed trade by now but I am learning to hold on for longer thanks.
many thanks from John.

 

[Abercrombie]

Nigel, your updates and running commentary are full of insights. Much appreciated!

 

[Nigel Price]

Hi Nigel
Just wanted to say I and I am sure lots of us are getting so much out of your updates.
Patience and discipline are the key things I am getting it is really great to share your way of thinking with us .
btw when is your next chapter of your apprenticeship coming out looking forward to reading it .

ps I am long on the eur/gbp currently up 60 points with stop at b/e will see how it goes over the next day or so.
In the past I would have closed trade by now but I am learning to hold on for longer thanks.
many thanks from John.

Nigel, your updates and running commentary are full of insights. Much appreciated!

Thanks very much for the positive feedback guys - it means a lot.

 

[Nigel Price]

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[Nigel Price]

btw when is your next chapter of your apprenticeship coming out looking forward to reading it .

It will come out in the newsletter over the weekend jonnymac.

Thanks for reminding me, I'm going to have to put the finishing touches on it at some point today!

 

[Nigel Price]

I'll put together the stats from the last couple of weeks trading at some point today too hopefully and get them posted up here. If not today, definitely over the weekend.

Unless we get a sell-off today though, they are going to look pretty poor!