My trading Journal

[winstonrazek]

I am going to post my swing trading signals for the US Stock market direction here while I do live trading .

My system determines the US stock market direction. For now I am doing ETF
trading .

I will start posting my trade executions here . I am following the 2 trade models.

1) Medium Term Trend
2) Short term counter trend

The main objective of the system is to identify the change in the trend at an early stage.

Main idea of the system can be summarize as follows (from the online article) :
"A fellow traders has told me "the trend is your friend and you should trade in the direction of the trend, unless there is a major divergence. If there is a major divergence, the divergece is your BETTER friend and probability favours trades (in the next lower timeframe, ala Elder's triple screen) in the direction of the major divergence"


My current position is :
July 2nd , 2009

1) Medium term trend : SHORT ( entry price : 27 : current price 26 )
2) Short term counter trend : NONE


I will also post here few month past signals to reaffirm my confidence in the system that I am following. I defintily need to work on my money managment skills as that is the major reason of one of my failure in the trading business so far. I am reading the book trading in the zone.

DISCLAIMER: I am not recommending any trade. This is for informational purposes only

 

[winstonrazek]

I remain short in my position but I did ****ed up a bit and act on my instinct and fear instead of following the system rules .

At 3.15pm I covered my 1/3 of my position to protect my profit . The reason was I followed the signal from the incomplete candlestick instead I should have waited till 3.30pm for the candlestick to be completed by which time there was no signal . Lets see how much this mistake costs me.

I realized that to milk the system to its full potential I will have to follow the system consistently and fully ( no if and buts) and my success will depend on how consistently I am following the rules