Wednesday, 21 January 2009

Trades 21/Jan/2009


FCX (gap down)

Recovery from gap down before we hit ema resistance on 3rd candle. This is bearish off the ema and closes weak back inside the OR. This was our short trigger. Price moved nicely down initially and almost reached 1R. However it found support during 6th,7th and 8th candles. So I closed 1/2 my position there for a minor gain. The rest was left to run and closed at breakeven.

I didn't trade anything else from my watchlist. Dithered a bit on a long on IBM, but couldn't convince myself of a good setup, so it passed me by today.

----Fib and R values -----------------------

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


Anonymous said...

I also found it a bit hard today and was having those doubts regarding IBM as well. I managed to squeeze some $$$ out of CSH and JEC which weren't "by the book" setups, but worked well enough.
Hope we would all have a better day 2morrow.

niki said...

dont you put your stop at the high of the enter bar ?
i short GOLD below the 4 bar(1R).

TraderAm said...

niki > stop is normally at high of trigger bar

OONR7 said...

ta: regarding gridlines... they're supposed to be found under configure>global configuation>style then click on the option for gridlines. However, the 'style' option is not appearing under my configuration settings. Sorry.

TraderAm said...

Thanks for info. I'll check it out. For the time being though, another problem cropped up. I need to sort out my excel trading spreadsheet as it doesn't work with newer version of IB. I'll revert to my other PC for now.