Position trading stocks

[Chartsy]

Closing XEL @ 47.12 + 1.58%

Realised Pnl = -0.42%

Trailing stop on AEP to 70.79

 

[Chartsy]

Closing XEL @ 47.12 + 1.58%

Realised Pnl = -0.42%

Trailing stop on AEP to 70.79

Stop hit on AEP +1.83%

+1.41 % overall

 

[Chartsy]

One new trade order : buy limit FOXF 34.10 stop 32.70

 

[Chartsy]

One new trade order : buy limit FOXF 34.10 stop 32.70

Trailing this buy limit higher to 35.00 , stop 33.60

 

[Chartsy]

Stop on BK moved to entry/breakeven

 

[Chartsy]

No new trades this week

 

[Chartsy]

Should mention I'm keeping the limit order on FOXF open (buy @35)

 

[Chartsy]

Are there any stock trend traders around ? It would be nice to talk stocks and long term trades with some folks if anyone wants to give me a buzz

 

[Chartsy]

Cancelling limit order on FOXF

two new orders

Long CCE buy limit 42 stop 40.70

Long ADX buy limit 14.55 stop 14.30

 

[Chartsy]

Adx:

 

[Chartsy]

Closed IR + 0.1%

+1.53% cumulative return

 

[Chartsy]

One last trade , bought A at market close 61.52 stop 60

 

[Jason101]

Hi Chartsy,

I see that both ADX and A are on the cusp of hitting their all times high.
"ADX" @ 1500 in March 2015 and "A" has just broken its all time high of 1511 on March 2015.

My question is, do you consider the all time high as a potential resistance point, and a potential risk when entering so close to it.

Kind Regards
Jason

 

[Jason101]

Hey, I use two very short term EMAs for entry and exit , other than that it's just a matter of flicking through a couple thousand charts and finding those few which look good !

You should be able to speed up that process by using a stock screener formatted by indicators.

 

[Jason101]

4/5 of the stocks so far have taken off without filling my limit order. I will wait to see how the week closes out. I got 'filled' on MASI at today's open price, which was 98.68, but let's assume slight slippage so a fill of 98.72.

The strategy sometimes involves a trailing entry, but it just depends on how far the breakout travels, too far and i'll pull the limit order out .

You could switch to a stop order?

 

[Jason101]

What is your definition of tanked? See the picture below .

 

[Jason101]

New update to my risk profile : I will only have a maximum of four positions open at once , so 4% portfolio risk (assuming a perfect entry and exit of course , which is a big contingency)

What prompted this?

 

[Chartsy]

Hi Chartsy,

I see that both ADX and A are on the cusp of hitting their all times high.
"ADX" @ 1500 in March 2015 and "A" has just broken its all time high of 1511 on March 2015.

My question is, do you consider the all time high as a potential resistance point, and a potential risk when entering so close to it.

Kind Regards

Jason

Hey mate , yeh if I'm honest an all time high is definitely potential resistance , but in this case the high is so far away it almost seems irrelevant. Of course it still holds weight and I will cut the trade if the weekly prints a fakeout of the level.

As for A (Agilent technologies ) I think you're looking at a different stock maybe as it appears to be at 60 odd lols.

 

[Chartsy]

What prompted this?

To my surprise , when it should have been obvious really , I found stocks do move pretty much in tandem with the overall index.

Of course certain stocks in certain sectors with certain patterns do offer more potential than a buy and hold imo but to up the risk to more than 4% would simply be taking on more than 4 stock trades at once , which I don't really find necessary .

Basically just a personal risk cap and cap on the number of trades I feel I can manage effectively

 

[Chartsy]

You could switch to a stop order?

True , but using a buy stop order means opening up to potential slippage which would skew the risk reward negatively and make it difficult to manage . Imagine placing a buy stop for a stock at $10 , stop $9, assuming a clean fill a risk of $1 per share .

Imagine a weekend gap to $11 per share which automatically fills and now you have $2 per share risk which is much worse .

Of course I could use a buy-stop limit order to minimise this , but generally I just think it's easier to use a normal limit order , especially given I am entering on a pullback to an Ema