tradersams blog

The last week has been flat to down, and my portfolio has taken a bit of a bit.  I was kicked out of a few trades friday, as listed below.  There are others that should be closed, however I don’t usually close too many positions in one hit as I have noticed that it leaves me too underexposed

WAA:  I closed my position today in WAM Active at $1.07 for a 7% loss under SystemB. The share fell rapidly following my entry, however I didn’t release immediately as it’s a weekly trading system. The exit was triggered at the end of last week, but under the rules I can exit anytime this week – I waited until friday to see if the market would increase at all.  Funnily enough, the share recovered friday so my loss was slightly lower than expected.

BRU:  I closed a position today in Buru Enegy at $2.69 for a 14% loss under SystemB.  This was my second entry, looking for a bounce at the point of entry.  The position didn’t play out as expected, so I exited quickly.  Given the loss, not quickly enough – but within plan nonetheless.  I really did miss a good move in Buru, which seems to have occurred slap-bang between my two trades.

NWH:  I closed my position today in NRW Holdings at $3.58 for a 13% loss under SystemB.  I seem to have picked a top again by buying into it!

This entry has actually disappointed me – looking at the entry point, there is no clear breakout – I really just bought in on a high volume and dominant candle.  This is what I am supposed to be avoiding in System B, so I actually have to call this a poor trade – even though I executed my exit strategy correctly.

SAI:  I closed part of my position today in SAI Global at $4.68 for a 10% loss under SystemB .

I was definitely more happy with this entry than the previous one (NWH above) as it was a breach of a longer term resistance line.  A nice clean entry, but it looks like rejection of the higher prices was fairly sudden and strong.  I snuck a look at market depth late friday, and I noticed almost all sellers leave the market, leaving lots of buyers, and almost no sellers – I was expecting the price to suddenly jump, so I moved the remainder of my position to a higher sell price.  Just prior to close a lot of sellers re-entered, keeping the price down on close.  Will look to exit the balance of the position shortly.

All up – a week of losses, and general erosion of the portfolio.