Archive for the ‘tap’ Tag
today – mnd – tap – fmg
Leave a commentLost 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.
today – pyramid positions – okn – tap – mnd – aqa
Interesting action in todays market. I have taken the opportunity to extend my investments in some currently open positions, whilst keeping an eye on the overall market to not over extend myself at present.
okn - pyramid in
OKN: despite the funny action I saw recently, I have increased my position here. With a gap up on open this is looking strong. I note that the next significant resistance is at 3.00, however there are some minor resistance points before then.
TAP: The recent purchase appears to have successfully bounced off the support line for now, so am looking to strengthen my position. The morning opened well but the share seems to have formed a spinning top, so will keep an eye on it in the morning.
MND: Since entering with my first parcel, MND has subsided along a smooth short term down trend to marginally above my stop loss, at which point it has started rising again. I have taken the opportunity to increase the position on this break through the lesser downtrend, assuming that the uptrend is now to resume.
aqa pyramid entry
AQA: another share continuing to build upwards. Increased my position size, however I can see I am relatively close to a line of resistance at the top of the big white candle about 12 days ago. Lets see how we hold up.
Tomorrow – end of the Australian financial year. whta fun – then I’ll have to think about another tax return! arrgh – more paperwork 🙂
today – tap – okn
tap entry
TAP: Opened a position today. I am looking to catch a bounce from the rising trend line, which is forming the lower side of a rising wedge (orange lines). Further to this I am looking for earlier resistance to become support from about a month ago. The recent rise looked like it was breaking upper resistance, so I expect this to simply be a replacement. Due to the closeness to the support the current market weakness may help the trade to fall out the bottom.
okn entry
OKN: Opened a position in OKN also, entered as the share broke through the resistance line drawn from the peak about 6 weeks ago. Oakton has strong resistance around $2 to $2.20 so will watch how this proceeds from that area.
I did something today I don’t normally do – I looked at the actual transactions on OKN – and they look … unusual – but I’ll put that into another entry.
So – for developing traders, the Traderfeed blog asks an important question in his entry today – “How well are you mentoring yourself”. Now thats something for me to ponder. As I think I said the other day, I’m happy to buy almost anything – I just have to really manage those exits. That said, I do try to pick entries, but it doesn’t stop my activity as it used to.
today – tap – aqa
closed TAP today, fell through stop loss, giving me a 7.5% loss. Entry seemed promising, but fell back from resistance on day I entered (2/June/09).
aqa measured move
closed AQA today. Closed on a profit target, on a 27% gain – didn’t expect it this soon. See the inserted pic. As always when a profit target is met, I am unsure if I should trade that way, as my ‘normal’ approach is to let them run till they fall back through a stop loss. Back to the drawing board to see if I re-enter.
Points of interest – downward channel looked to be busted to the downside, so was looking to enter to the upside on the day is came out the top. I picked the exit as just below $6 as I expected that to be a point of resistance.
My other point of pain and pondering – KZL. It came back on the market today to a 20% drop which went straight through my stop loss (not CFD so not automatic). So now I have to evaluate if I am in a reasonable position to maintain the trade. Will go and think about this some more….
Both trades discretionary. Market looks very bullish.
tradersams blog 