Initial Watchlist:
AAPL,ADBE,ADM,APOL,AU,BBY,BP,BYD,CHL,CNW,CPB,CYBS,DRI, DSX,ENER,HERO,LFC,MMR,ODFL,PWRD,STLD,TOT,UBS,UL,UN,UNH
Was unable to trade today due to other commitments. And looking back thru my watchlist, nothing really leapt out as a good entry pattern, except for possibly PWRD (7th candle) and STLD (5th candle).
1 comment:
TR: I did a rough P&L analysis of your May 2008 trades. Per 00nr7 suggestion, I wanted to ascertain if it was advantageous to exit 100% position at Fib and/or 2R profits, or to partial and hold balance to end of day. Here are my thoughts:
(R = $150 position risk)
(1) If I exited 100% of all shares at Fib and/or 2R gains, I actually had a a -9% loss in profits (approx $400, close to 3R)
(2) If I exclude 5/07 CHL trade (a big EOD gainer), then exiting 100% at Fib/2R gain, went from negative to positive for about +3% in favor (approx $157, about 1R).
(3) Your average win per trade is approx $165, about 1R. Your expectancy is about 1.10% per position size (assuming $15k)
(4) By moving stop to b/e when profits at 1R, you avoid approx 5R in losses.
(5) Your average gain per trade is about 2R
(6) Your total R's for 5/08 is approx 31
(7) Your win/loss is approx 71%/29%
(excludes b/e trades)
(8) You rarely have a loosing day (4 to be exact, and all less than 1R each) and never a loosing week!
My friend, you are more than ready for prime time! On to the next level of your amazing trading skills!
Hope you find my observations insightful. Ralph
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