Monday, 20 April 2009

Trades 20/Apr/2009

Three trades to blog today. I was making some changes to my API spreadsheet and messed up one of macros which meant that my orders weren't transmitted at time of entry candle triggers. So instead I used IB TWS directly once I realised the problem. This is reason for discrepancy in my entry prices compared to the chart entry candle.

CCL (gap down)

Trend down then sideways retrace to ema. Short on NR7 pullback candle. Didn't work out and was stopped out a few candles later.

COF (gap down)

Weak first then sideways to ema. The 7th is red hanging man type off the ema and also off OR low. This is our short trigger. Closed partial at 2R as Fib Ext was near and left rest to run. This was closed at end of day at around 4R.

WMB (fall thru previous day's low)

Weak first then trend down with ema. The 5th is red weak pullback off ema and closing weak. This was our trigger for short. Didn't really do much after entry and just drifted sideways. Closed at end of day for around breakeven.

---------Fib and RValues ----------------



Day Tradr said...

Hi TraderAM,

a. After you enter a trade, when do you first move your original stop loss?

b. How do you use the trailing stop once you have taken partial?

Day Tradr

Day Tradr said...

Another qn. TraderAm :)

You normally take partial at 1 R and let the remaining run. Why not take a partial at 1R in COF? What were the reasons for waiting till 2R?

Day Tradr

TraderAm said...

Day Tradr.
I move stop to breakeven once 1R is reached. After that I usually leave it until eod, so don't trail it after taking partial.

I don't always take partial at 1R. A lot depends on where the Fib Ext is. In COF for example, the Fib Ext was near 2R. The market was down 200 points and trending down. The odds are that the stock was going to get to 2R. If the Fib Ext was near 1R then I would have taken partial at 1R. If the market was up +100 then I may have taken partial at 1R.


Day Tradr said...

Thanks TraderAm. Appreciate your response.

Anonymous said...

hey trader:

since you consistently been winning, i think you should become a full time trader. You will make money!!!!

TraderAm said...


Thanks for the comment. But I'm not sure. At the moment my win rate is down to about 50-60 ish. And I'm scrabbling around making 10-15R a month. Not sure if that is enough of a basis to make a living out of it.

Put it his way > At the moment I'm glad I have my normal job.

Anonymous said...

make R high enuff so 10R works for you.