Friday, June 5, 2009

The Art Of Trading Alerts Service Performance For The Week Of June 1st

Overall it was a good week. Had a couple of large losses which i did not like but this is trading. We also had a few big winners. This market requires us to be very fast guys. Constantly booking profits and constantly seeking to cut the losing positions quickly. I did a lot of swing trading this week because that's where all the action these days, in holding overnight and playing the gaps. Intra day trading is very lame and stingy(look at today's action as a perfect example, huge gap up and choppy all day long). I personally had a decent PnL this week BUT i know it could have been better with a little better timing. I am hoping ALL you guys did well, that's very important to me!!

This week we opened and closed 12 trades: So not much trading once again and i love it like that! Less is more! How many times did i tell you guys that??! lol. It'll sink in eventually.

12 trades. 4 Losers and 8 winners. Here's are the details:

LONG/SHRT Symbol Entry Price Exit Price % Profit/Loss
Holding Period

long nm 5.45 5.85 7.34
swing trade
long tti 8.68 9.17 5.65
swing trade

long gmo 2.42 2.68 10.74
swing trade
long gsi 5.88 5.93 0.85
swing trade
long shld 61.95 62.6 1.05
swing trade

long wti 11.2 10.3 -8.04
swing trade
long abat 3.92 3.62 -7.65
swing trade

long ERX 34.32 37.02 7.87
swing trade

long mtl 9.95 9.9 -0.5
day trade
long cmed 24.93 25.45 2.09
swing trade
long mtl 10.33 10.97 6.2
swing trade

short agu 46.89 45.98 -1.94
day trade
long gg 36.85

long tna 31.75

Have a great weekend everyone and i will see you guys next week ready to tackle these markets again!! Look for my weekend updates as usual!

God bless!


Brian said...

A good week indeed, considering the extreme choppiness and lack of direction in the market. What is your normal guidelines in setting stops? Since you lamented the large losses in wti and abat (over 7%), I was wondering why you don't go with a tighter stop, perhaps 3-4% loss maximum. I've been around the block enough times to realize that some trades don't work out. I don't get overly emotional about that but isn't it better to jump ship once the trade stops working. On the other hand, I've had positions stopped out only to see the stock rally up immediately after my stop was hit. Sometimes it is uncanny how those stops get hit before reversal. This trading gig sure isn't easy.

Stewie said...

i try to buy as close to support at possible. I try and aim for about 5% stops for day trades and less than 10% for swings trades, but often times i will not allow the trade to hit the stop loss. If i feel like a trades is not working or might be dead money then i will remove the trade all together without allowing the stop to hit. You need to be very proactive if you feel like your original analysis isn't working.

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