Monday, 8 December 2008

Trades 08/Dec/2008

Initial Watchlist:

BHP (gap up)

A standard gap up play. Bullish first candle is followed ny narrow range candles in upper 1/3rd of OR. Went long on break of OR and market upturn after retracement.

Entry: 38.95 Stop:38.50
Fib Ext: 40.29
1R=39.40 2R=39.85 3R=40.30

There wasn't much momentum left though. Closed partial at 1R , then rest came back to breakeven. (Net gain +0.5R).

I didn't make any other trades. I was looking for some potential shorts during middle of the day as the market sold off, but nothing really set up the way I liked. May need to do a bit more work on scanning for specific opportunities in Topgun. Also on a related note, I have sent off the paperwork to open a Tradestation account, so hopefully I can then code some more specific scans on the setups that I like to trade once that is up and running.

--------Trades ------------------------------


Attitude Trader said...

It actually looks like you (and your plan) did really well today by not doing much trading because it was such a sideways market. You should give yourself some props for that.

I'm sure there are a lot of traders who just churned it today rather than holding back like you did.


TraderAm said...

Thanks AT

Anonymous said...

haw is the trad-
fwlt abuve the 5 bar

OONR7 said...

you're going to open yourself up to a whole new world of options with Tradestation. Seems like a coders paradise. A pretty logical step.