NRG Trading

[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.

 

[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.

 

[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.

 

[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.

 

[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.

 

[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!

 

[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.

 

[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.

 

[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!

 

[MRC & Co]

ha ha ha, love it Kennas!

I feel the same way!

 

[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.

 

[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.

 

[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

 

[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?

 

[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.

 

[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.

 

[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.

 

[nomore4s]

BHP stopped out at $31.62

 

[investorpaul]

Nomore - what do you hold at the moment

 

[nomore4s]

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