Thursday, 18 December 2008

Trades 18/Dec/2008

Watchlist:
BHP,BP,BTU,CAL,CCL,EQR,HBC,HMC,IBN,NVS,
PRU,RIG,RIMM,TXN,WFR

Only one trade today. I couldn't watch the markets into last session, so looks like I missed the big move later.

HBC (gap down)

After gap down past previous day's low we trend sideways to the ema. The 6th is NR3,NR7 pullback which stays below the OR. This is our short trigger.

Entry: 47.81 Stop:48.20
Fib Ext: 47.12
1R=47.42 2R=47.03 3R=46.64

The candle after entry is ideal as we take partial at 1R and leave the rest to run. Unfortunately we are stopped out on next candle at breakeven. A real shame as for the rest of the day it trended down nicely. Overall a gain of 0.5R

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

2 comments:

Z said...

Hey TraderAm,

Have you considered using Prophet.net to scan for gappers? I have found a few opportunities that weren't on your watch list.

TraderAm said...

Hello Z,
Thanks for comment.

Yes I need to sort out my scanning strategy. I did have a look at Prophet a while back, but it was inconsistent in terms of availability,

I am currently using IB and Topgun.

I've opened an account with Tradestation, so in all probablity that will be my main thing in terms of scanning and also backtesting, two areas which they seem to be strong in.