The Baptist Journal

[The Baptist]

Hi,

This Board has proven useful to me and I have beefed up my record keeping as a result of it.

Having recently made a sizeable withdrawal from my trading account, I wish to trade the balance (£13K) up substantially to its former glory and beyond. :cheesy:

I have modified a trading record sheet that someone else on this board began and look forward to explaining my thinking on it.

While those records are useful a proper blog as journal, showing the charts and the decison making process is the aspect required for learning and refining and I hope to get and provide value from that process.

I Trade Break Outs and use Buy Stops and sell targets with a portion of the stake being rolled long term positional with a trailing stop loss.

I am on record on other threads as being bullish Robusta Coffee long term and bullish on GBP currently against CHF and USD and JPN ie most majors.

I have attached last nights Trade records and will begin to attach Charts and explanations as the trades unfold.

 

[Jack o'Clubs]

Hi Baptist,

Have found your postings in other threads, particularly coffee, very interesting, so look forward to reading your progress. Journals from good traders very useful/interesting for newbies and experienced traders alike, so good luck!

 

[The Baptist]

Hi Baptist,

Have found your postings in other threads, particularly coffee, very interesting, so look forward to reading your progress. Journals from good traders very useful/interesting for newbies and experienced traders alike, so good luck!

Encouraging words appreciated, Jack o'Clubs.

In fact RobCoffee may be the only reason I kept nose ahead today after some ill discipline. Details later tonight.

 

[The Baptist]

End of week.

End of the week and a few Buy Stops were kicked off today.

Cable

But Firstly a confession I had an opening position in th GBP USD Long GBP after a bottoming formation as USD's strengthening appeared to have found a level.

On a news release it looked like it was Breaking upwards and tempted me in to adding to my long position twice. I am primarily looking to trade my 'Baptist 1-2-3' set ups for Break Outs (BO's), so I had already strayed a bit getting involved in the bottoming set up.

Anyway long story short, the dollar slipped back fast and I liquidated the new trades with a £2K loss. Lesson being trade your pattern and when looking at other opportunities have a preset strategy and don't add or act impulsively.

Having said that my initial interest still remains in this pairing and it is possible a 'Baptist 1-2-3' will still form if the 1.9464 level holds.

Robusta Coffee

I was alreaady Long Rob Coffee but a number of Buy stops were triggered as the underlying moved up in a BO type fashion as hoped for following a low vols period of days and a mini 'B123' set up.

This commodity is in my long term Super trades, interesting to note Arabica appeared to reverse down off of S&R downwards after failing to register a break beyond the $130 marki, still long term up IMO, but hope you were not too effected by this DaveT. You may get to accumulate at lower levels first.

Oats

Believe I have found a form of 'B123' and a possible continuation pattern, although my buy stop seems like it was hunted out on some spiky activity, Only the market and brokers don't hate me, I think

Closed a second £10 of GBP/CHF good B123 last half of position will be trailed on stop after target at previous high around 2.38 taken out.

Incidentally on the record sheet I have placed closed trades in Bold and new entries in blue text with a box around it. The numbering system I have used treats an addition to an existing position or a close as a subset of the original numbered trade.

i.e. if Trade no 2. is GBP/CHF adding further would be 2.1 (rather than 3) and closing subsequently 2.2 (rather than 4) as they are merely transactions in an already existing idea.

I will post the trade records and foot notes and further Charts will follow.

 

[The Baptist]

Hi,

I have done some FTSE250 scanning over the weekend.

I have placed a number of Buy stop orders for the weeks ahead on possible UK Shares that may offer up a Break out (BO) Prospect.

Some of them are:

MYI
MUT
KEL
KESA
HSX (Hiscox)
PAG ( Paragon)
TLW (Tullow Oil)
WEIR (Weir Grp)
ELTA (Electra)
RRS (Randgold)

There were a few Investment Trusts in there which may suggest IT's as a sector may have a strong next few weeks.

Charts on the interesting ones to follow as the week unfolds.

 

[The Baptist]

Paragon Buy stop triggered

Hi,

I have attached the latest trades those closed namely the Cable ones, essential a bad trade not placed on the pattern which was not in the plan, so serves me right.

I have added Paragon when my 680 Buy stop was triggered. Charts attached.

Good Fortune.

 

[bonox]

impressive

 

[The Baptist]

262% MTD and Fifty up

Hi,

I have been away in Cyprus for a week, so apologies about the delay in latest records.

Most trades have fared well, I posted an extra £10K to my account to cover extra margin while away in case of a number of my Buy stops being activated and Margin being insufficient.

Net of this however we have reached the £50k mark for a 262% gain for the month so far. Most of this has come from Rob Coffee and my GBP/CHF trading.

However a lot more of this with minimal drawdown will be required if I am to reach my Trade balance goal for 31st December 2007. So not to many celebrations just yet, but growth is ahead of schedule.

Both these primary trades above are on my 'Baptist 123' Pattern entries.

I have been rebumbed into Oats Mar 07 Contract, Also Buy stops hit on HSX Hiscox the UK share to join my Paragon PAR Spread bet holdings.

I have posted the Sheet and placed a filter just indicating the New entries in the 5th column, if you wish to see the full log just click on the filter button and click 'all' for open position standings on older existing positions.

Charts on the new ones will follow.

P>S> on my sheet I seem to have lost £2,500 which show how tricky proper record keeping is (it shows £47,7K ) - somewhere there is a duff formula or a trade entry mistype/missing, thankfully the account is right.

I hope to have this resolved by next post so forgive the descrepancy for now.

 

[The Baptist]

Minerva & Hiscox... JJB up for sports?

Todays Trade records attached, Total Current Equity £53,573 up £3,5K

Rob Coffee and Minerva were the main contributors.

And two charts of my favourite two BO' equities of today Minerva & Hiscox. A high number of 250FTSE watchlists were triggered into trades.

Also watch JJB (JJB Sports)and RRS (Randgold) buy stops are itching here.

Incidentally on the mystery of the differenc on my records, my sheet of records takes out the sale spread on open positions, while the account balances on the platform have yet to have exit costs applied, I forgot how clever my own sheet was.

Enjoy the charts.

 

[The Baptist]

Some Explanation

A couple of words on Strategy, historically I have been looking for my setups within Commodities given a sympathetic fundamental view.

Those following may have noted a number of UK stocks have become prevalent, I have run a number of my scans on FTSE250 shares recently for the reason below.

In the period 20 Dec to 5 Jan The Footsie has only fallen twice in the last 22 years and the FTSE 250 has been up every year. For those handful trading days the Footsie has been up an average of 2% and the 250 up an average of 2.7%.

Getting a few seasonals on side has never hurted, while the fund managers do some window dressing.

JJB was hit today with an initial position. see chart.

Enjoy the weekend and new year festivities!

 

[The Baptist]

Note to Self .

Be more vigilant of including two many correlated trades together. ie. Gold Long - USD Short - GBP Long etc..

Also Trade smaller always even if aggressive equity targets are being pursued.

Take some early Break out Profits everytime in case of consolidation or corrective move, especially where approaching near term highs.

When using big leverage for short periods look to unwind faster when up.