Archive for the ‘fmg’ Tag
today – mnd – tap – fmg
Lost a few positions as indicated yesterday from my close of day prices.
TAP close
TAP: Closed the position for a 10.2% loss. If I stuck to the trendline I would have exited the day after I pyramided in my position, but I was using a trailing ATR based stop loss, which kept me in a little longer. The close two days ago missed the stop loss by 2c so waited to see if it bounced – which it didn’t.
MND: Closed this position for a 9 % loss. Based on ATR based stop loss combined with perceived support point.
FMG: Closed this position for a 14% loss. Based on ATR based stop loss combined with perceived support point.
So – ultimately not a good set of trades as far as portfolio performance goes, but good in terms of following my plan.
friday – aqp – chc – fmg – pna
Filed under: discretionary, System A | Tags: aqp, chc, fmg, pna
Leave a comment Friday was a busy day for me at work, and as I got home friday night, I found my portfolio had changed shape due to some of the trades I placed earlier.
AQP exit - UGLY!
I closed my position in AQP for a 20% loss – OUCH! And the graph is ugly. When I look at it now, after the pain of the loss has past, the price was clearly ranging. When the share went through my stop loss at ‘1’ I should have exited immediately – instead I held thinking it might recover… big mistake… Never second guess the plan when its in place, take the exit signal when it comes, and re-enter if conditions suit. Now to go write that out 5 times! Anyway, learn from it – and move on.
CHC entry
Entered a long CHC position today, and as entries go, I am happy so far. Pushed through what looks to me like the upper line of a flag on Thursday close, and rose all day friday – and look at the volume.
Having done this for a while, I came to my own personal view some time ago that I can pretty much buy anything – as long as I manage my exit well. I can get out with a small loss if I enter badly – but keep it to a small loss. That said, I’m always happy with an entry like the one in the picture… I’ll see how this plays out.
Entered a long FMG position. On close the days trade looks like a spinning top which is disheartening, but does not trigger an immediate exit. Will keep a close eye.
Exited a long PNA position, but I’ll write this up when I fully exit, as I didn’t fill the order.
System A: Ran my scan – which is designed to run on weekends – still comes up blank! It still doesn’t like this market.
Final thought for the week – this was an active week, more transacions than I usually like to make in a week, which is making the management of the positions more time consuming. And it appears that even the professionals struggled with making anything of this week – read what The Kirk report had to say – he’s expecting a bit more to work with next week.
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