Monday 5 January 2009

Trades 05/Jan/2009

Initial Watchlist:
AAPL,ABX,AEM,AU,BBY,CHK,CNQ,DB,ENDP,GG,IBN,KGC,LEAP,
MFE,NEM,PCZ,RMBS,STR,SU,T,UN,VZ

VZ (gap down)

Gap down stock and first candle is bearish as it falls thru OR. We then retrace back into OR before hitting ema resistance. The 6th is off the ema and breaks OR. The 7th is a NR7 bearish candle which is off the ema. It closes weak as it breaks the OR and this is our short trigger.

Entry: 32.64 Stop:32.95
Fib Ext:32.01
1R=32.33 2R=32.02 3R=31.71

We fall nicely after entry and move stop to breakeven as 1R is reached. We take partial near whole number which is close to Fib Ext and also around the 2R level. The rest is left to run. There are a couple of data spikes on candles 9 and 10 as they did not trigger our stops. The last half is closed towards end of day at 1R level.
Overall Net gain +1.30R.

I did have a order for trade in GG but it never triggered. Other than that nothing stood out for me enough to trade.

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

11 comments:

Anonymous said...

What did you think of AAPL 9th bar ?

OONR7 said...

great way to start the year. I looked at VZ again which made my list and I incorrectly drew my fib. lines. There was a nice entry off the 5-min chart on a break of the 11:10 bar low. Careless on my part.

TraderAm said...

Anon.

AAPL 9th > Can't see a trade here IMO. The previous 3 candles price action was too bearish for me. And the 9th also didn't close strong enough.

00nr7.

Thanks.

Anonymous said...

that 5th vz bar didnt get u in and shaken out?

TraderAm said...

Anon.
I didn't enter until after 7th bar. Not sure what you mean by 5th bar ?

Anonymous said...

response on 5th bar makes me think ur not trading real time and just marking up 'perfect' charts after the fact. bar put in lower lower, had been inside bar until lower low trigger, resumption of down trend.

TraderAm said...

Anon.

What on earth are you talking about? My trigger bar was the 7th bar. The 5th bar is not relevant at all to my trade.
But ok, you are entitled to your opinion.
Answer > Don't bother reading the blog

Closet Daytrader said...

TraderAm, I mean it in a very polite way... why was the 5th bar not relevant to this setup?

Thanks!

Anonymous said...

cause the 7th bar worked out?

the 5th bar was valid when it triggered below previous bar on reasons i listed. 5th bar went on to close back up.

Closet Daytrader said...

Thanks!

TraderAm said...

anon.

Quote > "the 5th bar was valid when it triggered below previous bar on reasons i listed".

The "previous" bar you refer to (i.e the 4th) is not a valid trigger bar in my view.