# NRG Trading



## nomore4s

Due to some very poor trading lately I have been reviewing my trading plan & procedures. 
I will now try to use this blog as a tool to help me refine my trading.

With the markets now the way they are due to the increased volatility and the unknown effect of the ban on short selling I will only be managing my current open positions atm. But I will post any new trades on here from now on.

I will also try to post any pending setups on here as well but due to time constraints that maynot not always be possible.

I'm not sure atm about the best way to keep track of the P/L on this blog as I'm not sure I want to reveal the size of my trading account, may just start with a dummy account of $25,000 but not sure about the extra work that will cause. Will have a think about it.

Will post up an outline of my trading rules and plan shortly.


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## prawn_86

Can you just use % figures instead of actual figures?


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## nomore4s

Maybe, might get a bit messy with the overall profitability of the system and keeping some of the other stats though.


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## prawn_86

just drop or add a zero to each trade...


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## nomore4s

I have decided to keep track by using a dummy $25,000 account, but I will be trading these set ups myself and using my entry & exit prices. Will keep a spreadsheet for this blog.

I will be using a max of 1% (not including brokerage) as my risk for position sizing but I may risk less on certain trades for various reasons.

I will be using some margin/CFDs but to make it easier for this blog I won't be taking interest costs into account.

My normal brokerage is $10.00 but due to recent events it will be $20.00  for the next 30 days or so.

Alright my first set up is CTX.
Now this is quite an aggressive set up but I'm looking for some follow through tomorrow.

Entry is on a break above todays bar @ $11.91 with a limit set @ $12.01 & stop under todays low @ $11.21.

CTX @ $11.91 x 250 w/stop @ $11.21. Target is $15.00 (slightly optimistic I know but will intially be looking for a break above $13.00 and then will try to prymid if price action is favourable).

A few notes - if no follow through tomorrow but an entry is triggered I will look to tighten the stop to reduce some risk. Once stop is moved to break even stop will be left to trail a bit to give it room to try to capture as much of the move as possible (provided it does move in the right direction) but I will be looking to take profits @ $15.00.

I'm reducing the intial risk due to the aggressive nature of this trade, but will look to prymid as stated.

All other pending trades won't be this detailed - will just list the code, entry & stop price, the amount to be brought and a target.

May go into more detail with the trades if they are triggered and move in a favourable direction.


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## nomore4s

Trade for CTX has been taken @ $11.92 x 250.
Stop will be moved to todays low on review tonight.

Also had another 2 trades triggered today which I didn't post in the pending due to coming up after I had posted on the blog.
BSL @ $8.30 x 400 w/stop @ $7.69. Target @ $9.50
Risk $0.61, reward $1.20.
With such a small R:R and the fact it is in such a strong downtrend and has some strong resistance @ $9.00, I will be pretty aggressive with the stops until I can get it to breakeven.

DJS taken just before close today @ $4.52 x 610 w/stop @ $4.11 - Signal was a close above $4.45 and once it looked certain to close above that level I entered. Trying to capture a new trend with this one, will pryamid if given the opp. Target somewhere around $6.00.

Probably more trades than I would like to take on the same day but........


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## nomore4s

Pending trade for 26.09.08
JHX @ $5.63-$5.65 x 600 w/stop @ $5.24, T @ $7.00.


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## nomore4s

JHX trade cancelled for the time being


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## nomore4s

Another 200 CTX taken today @ $12.70 with stop @ $11.89, but may move the stop up depending on the close. Total risk now for both CTX parcels is currently around $250.00 w/stop @ $11.89


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## nomore4s

*Trading Rules*

*Each trade is to have a plan in place before trade is placed - EG - Entry & Exit Strategy, Timeframe of trade, etc.
*Open trades to be reviewed daily and changes to stops etc made accordingly
*Stop to be moved to or close to break even after 1r profit is obtained.
*Trade plan to be followed through with - no chopping & changing to be made on the run(intraday). Let the market decide the trade - Don't over analyze the trade.
*All trades to be reveiwed after they are completed.

*Entry Requirements*
I will be using various set ups but have a list of basic requirements to be met before a trade is taken.

*Type of trade? (Reversal, swing, trend following etc)
*Determine the timeframe of the move I'm looking to trade - EG - Short, medium, long term.
*What is the major trend? What is the trend for the timeframe I wish to trade? Does this affect the trade?
*Entry, stop loss & target levels for the trade
*Risk to Reward
*Plan for trade
*Exit plan - Trailing stop or exit on price target being met.
*Place trade

*Exit Strategy*
Will use 3 main strategies depending on the type of trade etc but I may also use something different if the plan requires it.

1. A trailing stop
2. Exit at price target
3. Profit protecting stop - A trailing stop that  runs close to the price action to protect open profits - Not based on T/A. For shorter term or swing type trades that are approaching support/resistance zones or are showing signs of weakness.

Of course these are subject to change as I progress, rough draft atm.


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## nomore4s

Pending set ups for Monday.

JHX is back on.
JHX @ $5.41-$5.45 x 625 w/stop @ $5.05 - T1 @ $6.50 T2 @ $7.00
Will be looking to ride a medium term trend to hopefully $7 but may stall at $6.50 - Will run a trailing stop.

JBH @ $12.79-$12.85 x 325 w/stop @ $12.09 - T1 @ $15 T2 @ $17 (new highs).
Looking to join in trend to hopefully new highs but will be happy with anything over $15.00. Will be a trailing stop, will try to give it plenty of room.
While I've got an aggressive entry on this one I quite like the look of it. A less aggressive entry could be on a break of $13.20 @ stop @ $12.14


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## nomore4s

JBH trade triggered @ $12.85

JHX order cancelled again.

All positions looking like they are in a bit of trouble tomorrow.


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## nomore4s

All trades stopped out today.

Will up date blog when I get time


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## nomore4s

Have been pretty busy lately and haven't had time to post much.

Have attached a spreadsheet of my results.

I have not opened anymore trades as of yet, and probably won't until I get slapped in the face with a very good set up or we can short again. It is just too hard to get a good trade going in this volatility atm.

Surprisingly my trade in HIL is still open but I haven't included it in the NRG trading stats as stated when I started this blog.


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## nomore4s

Closed out the HIL trade today @ $4.20.

Will probably go up now but it was just floundering so I decided to exit.


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## nomore4s

I have been scalping intraday atm with IG markets, mainly on forex and mainly with one pair AUD/USD. But I have also had a few trades with the Australia 200 cash.

I had been testing this for a while on the demo account and went live on Tue 7.10.08 (yesterday) with some very good results - better than my testing.
It is really just a momentum based system, for very quick scalps while price is moving in my direction.

I have been strictly reviewing all trades & results after each trading session and trying to find areas to improve.

I will look at posting info & results on the blog in the near future but I won't be able to post live trades up, it will have to be end of session results & stats.


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## arco

Interested to know what time frame are you using for Aud.Usd scalping, and how many pips you usually aim for?

rgds - arco


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## nomore4s

Sorry been busy.

Using 1 min chart, and aiming for 10+ pips.

Stats so far are:
48% win, 43% loss, B/E 7%
Ave win 18.7 pips, Ave loss 6.5 pips.
Over about 85 trades.
Results so far have been skewed by some very big wins (100+ pips).
I have taken these big wins out and the system is still profitable.

Trying to keep my losers small.


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## nomore4s

Haven't had time to keep the blog updated as I have been moving house and selling my old one (signed the papers yesterday).

Will strive to keep it updated now, and post live trades up as soon as possible. I have 2 current trades open atm, the first I've taken in awhile.

WOW @ $24.90 - stop moved to $25.85
NAB @ $19.20 - stop @ $17.79

Will post more details on these trades when I can.


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## nomore4s

Another trade taken today.

Short NCM @ $25.46 w/stop @ $26.65


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## MRC & Co

Damn nomore, EXCELLENT stats!

Don't take the large win outliers out of the analysis, they are well and truly part of it!!!!  Big win outliers are what makes most traders their serious dough!

Keep us updated on how this is going, your trading rules etc as you did in the previous blog threads done earlier.


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## nomore4s

Thanks MRC, but due to being extremely busy at work, moving house and now having a young daughter who is requiring more time at night I just haven't been able to get the screen time to make this work as it requires alot of time watching the price action.

Hopefully in time I can get back into it because it was working well - as long as the market was trending, tended to get a bit of whipsaw in sideways markets.

On hold for the moment.


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## nomore4s

Another trade triggered on Friday arvo - 2nd NAB parcel.

NAB @ $20.20 (day's high - damn it, lol) - will update the blog later with open positions & stops etc.


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## MRC & Co

Ok that is completely fair.  Sound like a busy man!

Look forward to the updates down the track.

Congrats on the daughter!  Hope she is healthy.


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## nomore4s

Thanks, Akira is happy & healthy, being about 5-6 months old now she requires alot more attention when I get home at night - very rewarding though.

Run a showerscreen & robe business with the old man atm, with about 9-10 employees, we're extremely busy trying to get everything finished before Xmas. Waiting for the slow down to kick in up here so I can get a break, lol. 
I have had to turn down about a years work in the last six months due to being so busy. And we haven't done a private job in about 3 months, sending them to the opposition.


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## MRC & Co

Good to hear!  I bet it is extremelly rewarding. 

ha ha, mate, you must be about the only business busy in the country at the moment!!  The ones I know, are taking a hit lately!


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## nomore4s

lol, yeah but give it 6 months up here and we'll be looking for work. We just happen to be halfway through some big contracts atm. We will be scaling back to about 5 workers about halfway through next year I reckon.

Darwin tends to run about 6-18 months behind the rest of Aust.
Alot of the big projects coming up next year have either been canned or put on hold.


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## Naked shorts

i dunno how you can stand IG markets. I tired scalping e/u, a few months back during huge volitility with them and i found it very difficult.


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## Sean K

Yeah I use IG and not really happy with it. During volatlity the spreads turn massive. And, I'm sure they know who I am. Whenever I hit sell the chart goes up. And when I hit buy the chart goes down. Incredible!


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## MRC & Co

ha ha ha, love it Kennas!

I feel the same way!


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## nomore4s

Not a good day today

Was stopped out of a few positions. Suffered a bit of slippage today as well.

Haven't got time to post them all so will just post the overall results.


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## nomore4s

Trades closed today

PDN @ $2.94

CSL @ $35.4845

WPL @ $35.27

Updated results sheet attached, have nearly made back all my drawdown with 2 trades still open.

Having a bit of trouble getting any good winners in this environment, seem to be getting stops to breakeven or just above and then getting stopped out.


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## nomore4s

New trades taken today

BHP short @ $29.90 w/stop @ $31.61 x 150

WPL short @ $34.85 w/stop @ $36.01 x 200


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## peter2

Swing trading is very hard atm. I do not know your setups or trading style so these are general comments only. Your entries must be more aggressive to increase the chances of a reasonable reward. Waiting for confirmation will only delay your entry. Once your entries get more aggressive then you must also exit asap. You cant afford to give any trade some room to move. Price should go your way or you are out. This will decrease your W% but will improve your W/L. You should only be interested in your expectancy. Have noticed that current swings only last 3 days?


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## nomore4s

Peter, thanks for the comments.

My entries are very aggressive atm, along with my trailing stops, if the trade doesn't move very quickly I look to either exit if trade is in loss or move the stop to b/e if in profit.

I have actually been getting quite good entries atm, prices taking off in the right direction straight away but not much follow through after that. The fact I have been able to nearly pull back all my drawdown in the last 4-6 weeks is a good sign.

I have noticed any sort of stalling in the current environment is a very good sign to be looking to tighten stops or exit the trade all together. I have been a bit slow to do this a couple of times and it hasn't done me any favours.


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## peter2

Checked BHP and WPL charts. BHP is very hard to short term trade because of the o/n gaps. Stops cannot be placed close if holding o/n. You have to rely on general market swings to profit. WPL great entry! Trade going well and looking good so far. If you are stopped out at 35 tomorrow then be happy as you gave yourself a good chance of a higher than average win.


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## nomore4s

Re: BHP - Always a calculated risk when trading BHP because of the gaps, and will wear the slippage if it gaps up but I'm looking for a move back down to $24 with this trade as there appears to be some weakness in the chart atm, fingers crossed.

Re:WPL - Sometimes you just get lucky , has moved more than 1R now so will move the stop close to or to B/E now and see where it takes me. Would like to see it break and close below $32.90 in the next few days.


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## nomore4s

BHP stopped out at $31.62


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## investorpaul

Nomore - what do you hold at the moment


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## nomore4s

CTX long @ $8.30
LGL short @ $3.03
WPL short @ $34.85


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## Sean K

LOL, I just bought LGL at 3.04 as longer term buy...


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## nomore4s

lol, ah well one of us will make money hopefully.

I'm actually pretty close to closing the trade as it is just refusing to move atm.


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## Sean K

I'm buying a few gold companies at the moment as I think POG has broken what was a downtrend from the peak. Holding above $860 I thought was the key, and it's looking pretty resiliant right now. Tomorrow may be different....

Holding AZM, LGL, NCM, PRU, and looking to add on weakness and proof of support. 

I think golds just about the only thing worth tampering with other than short term trading right now.


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## nomore4s

Stopped out of LGL @ $3.17


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## MRC & Co

Looks like Kennas wins!   

ha ha.  Tough trading hey boys!  Markets are damn unpredictable ATM!


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## Sean K

This wasn't a short term trade for me though and I would have held and topped up on weakness. I wouldn't be surprised for failure at this resistance area, but I've just wanted to get set in some goldies and add, expecting a strong push in POG. I think nomore might have put the short on because of LGL approaching the resistance area which I think was a smart short term move. Would be a shame if he's closed the trade out too early..


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## nomore4s

lol, ah well.

Was a a set up based on the bar from 28.01.09, this sort of set up is a very aggressive but high reward type play.

Will be keeping on my watchlist for a future crack at the trade - $3.40 might provide some opportunities if it gets that high.


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## Iron Man

I am long CTX @ 8.77  x 182


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## nomore4s

CTX trade had a good day today, was nearly stopped out yesterday and the Chartist had a short set up on it which was triggered yesterday as well but was stopped out today. My stop is now at B/E, as a close under $8.43 is bearish in my view.

$9.60 is a critical level according to my analysis and any rejection of this area and I will tighten my stops right up and could even end up going short depending on the price action around those levels, as I think we could see a retest of the $6 level if $9.60 fails. 
But if price moves up through $9.60 with any sort of strength I will add to my position as we could see prices up around $14.00.
Of course neither of the above might play out so DYOR.


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## Iron Man

nomore4s- one of the hardest things for me is when to take profits. At the moment its in a good up trend, but i am a swing trader mode and will sell on any weakness. That weakness could happen if it breaks down today as its hit a resistence level at 9.16 with the next major resistence at 9.38. Oh my G-d it just dived as i am writing this to 8.79. lol
will exit on the way up - I am avoiding the the words of death " what happened".


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## Iron Man

sold at 9.05 = 28 points up.


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## Iron Man

CTX dropped 36 cents in a split of a second?


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## nomore4s

Iron Man, a couple of questions.

How did you get resistance at $9.38? I can't find any resistence on my charts at that level.

Are you trading with CFD's?

What target price were you trying to achieve with CTX?

I tend not to worry about intraday swings too much as I trade off EOD charts, where price finishes is the main thing. Things like the 36c drop will happen on occasion for various reasons and if I get stopped out so be it.


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## Iron Man

nomore4s-

I bought CTX on a bar setup that I read recently. It worked but the setup doesn't give price targets. I have my own indicator that forecasts price levels like fib stuff. I can use it on any most time frames. In this case two time frames came together as warning signs. The drop was maybe a fake out and yes its the long term that counts. I am sick of seeing my profits come and go. So I got out. OF course it could keep going. I can always find another setup to re-enter. ps. A similar case was with SUN today, I bought at 5.53 it hit 5.71 -price level and then came down. Of course this is only short term stuff I guess.
 I am currently flat


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## nomore4s

Sorry for the late update but been busy.

Long BHP @ $33.47 x 150 w/stop @ $31.97


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## Iron Man

CTX hits 9.38 today


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## nomore4s

Why ?


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## Iron Man

9.38 is a short term resistence point. As per today it hit it and stayed under. lol.

On the big picture if it stays above 9.21 or goes above 9.38 its all good. 

Unfortunately I was too focused on the short term to stay with it.

I live to learn.


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## nomore4s

1 trade today MND @ $6.05 x 1000 w/stop @ $5.80

Wouldn't belive it but was stopped out of BHP today by 1c dammit.
BHP closed @ $31.96


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## nomore4s

TTS x 2500 @ $2.73 on open today


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## nomore4s

While I'm a bit bullish atm on the outlook of the overall market, it is important to keep my eyes open and trade what is in front of me.

CBA had 1/2 the profit locked in today due to it running so hard so quickly. Because of my tight stop on entry I was carrying a larger than normal position size and was able to do this. I will now give the tade a bit of room and see what happens - I could give back a fair bit of profit here but.... - Prices back under $30 are a serious red flag.

NAB will have the stop moved up to either yesterdays low or todays low depending on how the US plays out tonight but if there is any strength left in this stock it shouldn't probe under todays low and definately not yesterdays low - depends on how much profit I want to give back.

NCM & CSL trades look like fizzers and fair chance of being stopped out of both tomorrow.

I'm starting to find a few short set ups that I like and will have a few orders pending for tomorrow.

The next leg down will now tell us a lot about this current strength in the market and whether it is a sustainable larger bounce or a short term bulltrap bounce.
I have attached 2 charts with a possible set up that could play out - the first chart is NAB which has a completed pattern on it (this was the pattern I traded with my current NAB trade) and the second chart is the XAO. This pattern could be invalidated tomorrow or next week but until that happens it is my favoured outlook.
Other possiblities are:
- Shoot straight through 3500 before a retrace, unlikely imo
- Retrace to 3200 where support comes in forming a higher low and then shooting up through 3500.
- Heads straight down towards 2800
All of the above scenarios will provide some good trades as long as you can get on the right side of the trade

And of course the market could do a million other things.


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## nomore4s

Still in play. But will 3200-3300 provide support? Making a higher low.


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## Sean K

3300ish is key imo. If it retests and holds well, breaks up on volume, much better chance of a much more bullish rise that I have been anticipating. ie, 50% plus gains in the coming months from this juncture. If broken down, back to 2800ish, and re-eval. I still hold out for a massive bounce from the oversold-scaredy-cat-doomesday-panic-lemming sell off from here, when all sheep get slaughtered. Once in a generation opportunity still lingering. Just get it fvcking over and done with!!!!


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## nomore4s

Pattern invalidated now. Want to see support at that 3200-3300 area now to form a higher low or I will have to rethink the bullish outlook.
Todays close tends to indicate we may be near the end of this current wave up. The question now is will we see consolidation around 3300-3400 or a higher swing low and straight higher or a retest of 3100 and/or new lows?


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## nomore4s

Current results.

Will probably have more closed trades tomorrow

I will now try to post updated results at the end of every month.


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## nomore4s

Trading results till the end of March.

I know I posted results yesterday but I will try to post results at the end of each month so each months performance is comparable.

Results would be very good if it wasn't for the first 4 trades, my trading has improved a fair bit since then luckily.


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## JTLP

Thanks for the results Nomore4s.

Just a question...do you have stop losses and trailing stops in play? It looks like your losses are significantly larger in $$$ terms than your profits (which to me looks like no). At the start of your trades it looked like you cut profits short...towards the end though you made some nice gains (well done!)

Also, what does the red mean when you highlight a certain share?

Thanks,

JTC


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## Sean K

Do you still need to take the fees out of that profit?

And tax?


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## nomore4s

*JTC* - the red trades are short trades. 
I run trailing stops and as the trade gets to a 1r winner I try to move the stop to b/e or thereabouts. Alot of those early trades with small profits are pretty much b/e trades or 0.5-1R winners as the market took out my stops.
I don't want to let stocks that show a profit reverse and be closed out for a loss. I may miss some eventual winners by doing this but I protect my capital and I can always re-enter the trade.
Market conditions had a bit to do with all those small winners as it was very difficult for swing trading, but as the market conditions have changed I've got some trades that have gone on with it and currently have some good open profits.

To me it is all about protecting your capital and looking after the bad trades, the good trades that make your account tend to look after themselves.


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## nomore4s

*Kennas* - All transaction costs have come out of the profits. The only other fees to come out of the profit are interest fees for my margin but for this blog I'm not going to be bothered with that as it will have a very small effect on the overall outcome.

The profits are pre-tax.


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## Wysiwyg

Just found this blog, had a looksy and it`s good to see you confidently trading Nomore 400`s.


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## nomore4s

lol, thanks Wysiwyg, let's hope it continues


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## nomore4s

Current open trades for NRG trading portfolio.

Things going well atm, today was a very good day for the portfolio but I will probably give some back tomorrow.

Will be having a close look at my stops tonight to try not to give back too much open profit when the market does finally turn down again.

Will post updated results at the end of the month.

       Date opened - Code - Type - Qty - Entry - Current - Market Value - Open Profit


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## peter2

You are building a good record NM. You must be quietly pleased with your results so far. I added today's prices in your open trade spreadsheet to see the latest results and your trading is improving. [ W% - 57%, AW/AL = 2 and growth on capital > 40% ]

Have you started to increase your trade risk yet?


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## nomore4s

Thanks Peter.

All the study and hard work is starting to pay off now, I have a system I feel very comfortable with - must continue to work hard though and stay consistent - especially through the next period of drawdown.

I have increased my risk slightly to around 1.5%, but it will depend on the set up and the current market conditions as to whether I use 1% or 1.5%. Still not comfortable using 2%.


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## peter2

Yes, you must trade in a consistent manner. The next challenge is to trade in the same way as your risk amounts increase. Btw staying at a comfortable fixed fraction (eg 1%) is preferable to a larger amount that may cause concern. I didn't know if you were using a fixed fraction or a set dollar amount. FF is much better than fixed amount due to the effect of compounding.


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## peter2

Van Tharp has coined a term called the System Quality Number (SQN). Briefly it is a calculation that provides a figure which describes the quality of the system (and the system user, naturally). 

SQN = Ave result(all) / std dev of all results * SQRT(number of trades)

Currently you are running with a SQN of 2.5 and if you can keep this up for 100 trades (min and max number) you will achieve an SQN of 3.1. 

SQN  < 1 = Probably very hard to trade
SQN 1 - 2 = Average, needs to be >1.7 to be statisically significant
SQN 2 - 3 = Good system
SQN 3 - 5 = Excellent system
SQN 5 - 7 = Superb system (few exist)
SQN   > 7 = Holy Grail 

So what, eh? The better your SQN, the more you can do with position sizing to meet your objectives, like minimising drawdowns and maximising your chances of attaining your goals (eg +100% / yr with <20% drawdown). 

All this is in his latest book. I am not plugging it, but rather using this concept to compliment you on a good job so far and hopefully inspiring you onwards and upwards.


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## nomore4s

Thanks Peter that is very interesting. Will look into it when I have more time. Might have to have a look at his book.


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## nomore4s

I've just worked out my current SQN by closing out all my open trades at the current stops levels which is a worse case scenario and would mean I give up a fair bit of open profit on the big winners I currently have. It comes out at 7.1.

If I close all my big winners out at current prices and the rest at stops it is 9.9

Now before anyone says anything these results are only for 69 trades and we will have to wait and see how the current open trades actually play out, and lets see what the SQN is for 150+ trades. And the market conditions have been very good lately.


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## nomore4s

I will also have to work out a way to keep track of my highest capital amount so I can work out my max drawdown from this level.


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## nomore4s

Current results till the COB of 30/04/09.

I actually went backwards with the closed trades but every open trade is now at b/e or better.


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## nomore4s

Trade taken today

AGS @ $0.71 x 3500 w/stop @ $0.63


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## nomore4s

Another trade triggered today.

GMI @ 91c x 3500 w/stop @ 81c


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## nomore4s

NAB @ $21.35 w/stop @ $20.29


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## nomore4s

ABC @ $2.20 x 1,200 w/stop @ $1.93

Had a bit of slippage on this one due to it being on the chartist. I had it on my watchlist due to the pennant forming but missed my entry on that breakout and had to settle for the same entry set up as the chartist, lets hope it goes on with it now.


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## nomore4s

A couple of trades today, not real good fills

MRM @ $1.595 x 2000 w/stop @ $1.42
SGX @ $5.296 ave x 750 w/stop @ $4.87


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## Iron Man

MRM looks good imo


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## nomore4s

ERA @ $22.30 x 200 w/stop @ $20.55

MRM does look good but lets see how it goes from here


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## nomore4s

My portfolio is up and down like a yoyo today.


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## nomore4s

WES stopped out today @ $22.52

Have been running a tight stop on it for a while and it finally got hit today. Expecting some sort of breather or even a pullback to around $21.00 and hopefully another chance at a trade.
Knowing my luck though it will now take off to $30.00


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## Iron Man

Don't be down on yourself it doesn't help. In fact your emotions make no difference to what the stock will do.

Be happy and read my blog.


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## nomore4s

2 new trades today

MCC @ $4.842 ave w/stop @ $4.49 - pretty aggressive entry on this one.

MGX @ $0.73 w/stop @ $0.65

Good start to the day but I got a feeling it may drop off as the day goes on, hope I'm wrong.


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## nomore4s

I don't know whether all the bears are starting to get to me or not but I'm starting to become a bit worried about this rally ending - the last 2 bars on the XAO chart aren't very positive imo.
A close under 3700 would be a serious red flag would probably see us at least retest 3500. Need to hold over 3700 and then break 3900 with some conviction for a continued bullish outlook.

Might post some analysis on the XAO tonight if I get time.


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## Sean K

Yeah, I agree. Need a decent pullback for this to be sustainable. Or, we just run up to 7500 or so...


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## nomore4s

lol 7500 would be nice with all the long positions I've got open.

MCW @ $0.335 x 7500 w/stop @ $0.29


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## Iron Man

XJO up 172 for the week. If you look hard enough you may see a triangle on the weekly chart which this week was broken. Price Target is 4,387 around 22/06/2009. 
Elliot wave theory would say that this is a wave 1 and expect some retrace before wave 3 long trend wave. Nomore4s please keep us informed on what the chartist has in mind.

"The only way is up...babe"


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## nomore4s

> Nomore4s please keep us informed on what the chartist has in mind.




Sorry you'll have to sign up for that.


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## nomore4s

I have been working on a new trading method which focuses on short term swing trading.

Hold time should be 1-3 weeks on ave. The testing I have done so far looks promising but until I trade it live I'm not sure how it will perform.

In testing it is operating of about a 1.5x Win/loss and runs at about a 50%+ win rate.

I'm going to jump in and go live tomorrow (Monday  25/05/09) and just getting my orders ready I've come across a few teething problems already.

I will post up the results in a different spreadsheet to start with so I can keep track of the system.

Knowing my luck I'll start off with 10 losers in a row and kill the system, lol.


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## nomore4s

First trade.

CPU x 1,000 @ $8.69 w/stop @ $8.30 T-$9.50ish

Edit: More trades
NUF x 750 @ (ave)$12.289 w/stop @ $11.86 T-$14.00ish

IFL x 1,200 @ $3.70 w/stop @ $3.47 T-$4.40ish


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## Sean K

I'm finding it really hard to get intersted in swinging at the moment. They all look like potential H&S set ups along with the XAO/XJO. They either hold that support and bounce, or look painful. I suppose that's the purpose of a stop.


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## nomore4s

NUF stopped out @ $11.85.

Off to a good start


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## nomore4s

Missed a couple of good opps today as I got busy at work and couldn't enter the orders before the open.


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## nomore4s

AMP triggered today, looks like a fizzer though and will probably exit it later today.

AMP @ $5.06 x 1850 w/stop @ $4.91 T - $5.45ish


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## nomore4s

AMP stopped out at $4.91


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## nomore4s

Short IRE x 750 @ $7.112 (ave) w/stop @ $7.41


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## nomore4s

IRE stopped out @ $7.42


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## nomore4s

IFL stopped out @ $3.7301333 ave


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## nomore4s

CPU stopped out @ $8.75

BBG @ $7.95 x 1000 w/stop @ $7.63
NUF @ $11.91 x 350 w/stop @ $11.21
TTS @ $2.52 x 2000 w/stop @ $2.40


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## nomore4s

Results & Open trades for this portfolio as of 29/05/09.

Hasn't been the best start, I think I have to be more selective in my trades for this portfolio, as I think I might have been a bit keen to kick it off.

All prices on the open trades sheet are average prices that include brokerage.


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## nomore4s

BBG exited @ $7.87
TTS exited @ $2.42075 average

lol, this portfolio sux. Told you I would hit 10 losers in a row.


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## nomore4s

NUF stopped out @ $12.05


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## nomore4s

Due to a number of reasons I will be winding up this portfolio as the current open trades are closed.

I will be starting another list of live trades but will be running my income portfolio as it is, I will be starting a med/long term trend trading portfolio using a more mechanical approach and will still be doing my swing type trading but using a slightly different strategy that I'm currently working on.

I won't start either portfolio till I'm back from all my travel commitments towards the end of Sept.


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## nomore4s

Final NRG results as all trades except SSM have been closed but to finalise the results I have used todays closing price for SSM as the exit price.

First trade was taken  on 25/09/08 but I didn't trade between 30/09/08 - 21/11/08 and final trade was taken on 14/07/09 and obviously the last open trade was closed on 01/09/09.
So the results are pretty strong considering it was only about 8 months of actual trading and I haven't entered a trade for this portfolio since the 14/07/09 and the market conditions have obviously been favourable during that time. I have been trading but just not live on the blog.

Another drag on this account has been the fees, over $5k, I have addressed this by now trading with IB and getting $6 each way instead of $20.


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## Sean K

Nice. If this sort of result is compounded over time could turn in to some serious money! Good work.


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