Archive for June 11th, 2009|Daily archive page
today – mnd – cfe
Leave a commentopened MND – broke through resistance on open, so trigger fired. Originally found a month ago on heat map. EOD closed down, so technically should not have entered – I pulled the trigger too early as I normally engage on end of day prices.
opened CFE – huge volume on open, highest high in ~6months, and appeared to close the gap that was opened in October last year. Looking for the gap window to switch from resistance band to support band. Similar to MND above – close is low. I traded CFE poorly last time (a reason for setting up this blog) so will stick to exit plans this time.
Both trades discretionary. Market generally bullish.
Systems
I run a couple of systems, noted here so my other posts make some sort of sense.
System A: A long term trading system that looks for long term trends in the ASX200. Currently reviews 200 trading days for constant(ish) growth, and looks to take a position from a week to a number of months looking for share price increase. As you may guess, given the ASX over the last year, its a long time since this system signalled an entry.
System B: Not finalised. Essentially a shorter term trend following system based on ‘System A’. As ‘System A’ is written in C++, I am updating the code to remove a number of assumptions that I use in the share selection component to look for 3 month trends with other criteria similar, possibly extending outside of the ASX200. Some more coding to do – then testing. By the time I get there ‘System A’ may be running again… who knows.
So – System B has been redefined in March 2012 – see here
discretionary: ok – not really system based. Born out of the current world financial situation… what can I say. When my systems generate nothing, I revert to bits that interest me – in this case, shorts and pattern recognition. Almost all of my trades for the last 5 months have been discretionary – I get tips from a ‘heat map’ provided in real time by my broker, weekly volume increases, large candles and other signs I look for that tell me ‘there’s activity here’. Chart patterns are a favorite. Is it a cup n saucer I see formed in Fairfax today?
All systems have a money management component regarding stop setting and weighting by sector and as a whole of the portfolio. These are not detailed as I do not want to be seen to be offering any financial advice.
I am not a financial adviser, and I am not offering advice – just a guy with an interest
Dawn
So, my first ever blog. Dawn if you will.
My intention is to place trade analysis in this blog – the main reason being so I can cast a critical eye over my own trading activity.
In the interests of keeping this ‘manageable’ in the first instance I will only be logging my trading on the ASX. I trade other areas, including occasionally Forex, options over ASX shares, CFDs as a tool to gain leverage with managed risk on shares, warrants on ASX, futures on indexes or commodities, indexes via CFDs – ie: most of the readily available retail markets. Areas other than ASX may get a comment, but not in the plan for now.
See the entries and exits here.
tradersams blog 