Archive for March 16th, 2012|Daily archive page
today – open nwh
Leave a commentNWH: Opened a long position in NRW Holdings today at 4.13. This is a SystemB trade (the first written up since coming from hibernation).
nwh open
You can see in the diagram that I have previously entered, and was shaken out. The system called it back onto the candidates list, and with the way the week has played out, I took this prior to week close.
I had a meeting with a customer this morning so my 4.05 buy on open wasn’t taken – it opened up. I chased price when I logged on and got the $4.13.
SystemB – What it is
SystemB has evolved since I went into hibernation.
System B is a short term breakout trading system based on weekly charts. I have coded the weekly search using Amibroker. The search then locates a number of candidates, which I select from based on visual clues, typically looking for some kind of recent breakout. The universe for SystemB is open to ASX and the US, however I am generally only tracking ASX… this may of course change from time to time.
I am tempted to run it against the Singapore and Nifty stocks – but I haven’t got to that yet.
This system is intended to work in all market conditions, however clearly many are found during times of market growth, and a much smaller number in sideways periods. I look for short entries, but I have a bit more coding (as of March 2012) to get to where I am happy.
The candidate lists are typically generated on the weekend, however I may not take an entry until mid week. Exits are taken based on stop loss, or loss of momentum (my formula). System exits are interpreted on fridays close, however I may not enact them until late the next week – making it a discretionary element.
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