Thursday 22 October 2009

Trades 22/Oct/2009

FDX (gap down thru prev day low)

Bearish first and second then pullback to ema. The 4th is bearish NR3 off ema and OR low and is our short trigger. Never followed thru and stopped out for a loss.

LM (fall thru prev day low)

Bearish first and second breaks OR. The 5th is bearish NR7 off ema and closing weak. This is our short trigger. Never followed thru and stopped out for a loss.

No other trades for me today. Hard going at the moment finding any sort of consistency, I have a couple of good days then some bad days. I am currently doing some research on all my trades and some other setups, so hopefully things will improve. I'm sure there are traders out there who are making money day in day out. In fact it could be you who is reading this blog at this very moment :-)

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2 comments:

andi said...

not me..there is no consistent follow thru..so breakouts are not there..in fact you may take a shot at shorting the breakout

Tom T. said...

I enjoy your blog. Here is my opinion on your two trades - the prior day's price action needs to be more compact and level - most of the steam is let out on the last half hour of the prior day for both (not very technical explanation but just look at the more successful trades that have follow through - I bet the price action is usually level and compact the prior day.

I traded AMGN as I saw an H pattern develop - I did not see LEAP or PNC - those are much easier to spot and safer to trade than trying to call the top on an H pattern.