The Trade that Saved Me

Whoo! That was one hell of a week. All my positions were stopped out except for LCB. My portfolio suffered a massive decline as I was heavy in AT,GERI and SECB. :( Moving on..

Thanks to Lolo, I made all those lost profits back. Seeing that LCB was holding strong during the bloodbath, I bought more with conviction. Let's see if this trade continues next week. :)

I was also very thankful to a tweet by DarvasTrader
"But remember that you don't need to sell everything as soon as a Downtrend begins. Stick to your stops. Some leaders WILL hold up. $$"

True!

MEG

MEG freaky inverse head and shoulders. 2.30 working as resistance of 10-month downtrend line.



zooming out.. 2.48-2.50 is working as resistance of a double bottom.

Fly high FLI.

Properties moving and while browsing charts, spotted this one. Perfect time to break its inverse head and shoulders pattern in the daily chart.



If one is to trade patterns, a sample trading plan is to risk .10 cents. That is already about 3x multiple of its 20 day moving ATR at .03.

Buy: 1.28-1.31
Stop: 1.18
Target: 1.6-1.62

Risk .10-.12 for a potential gain of .30-.32 cents. That's 1:3 risk to reward ratio.

Next resistance is at 1.35. Support is at 1.20.

Zooming out is the weekly chart. It looks like a 4yr cup and handle forming. Long term target could be as high as 2.8. That is still a double bagger at current levels.



:)

New High Plays!!

Industrials
FGEN

MWC

URC



Service - ICT

New High Plays!

Properties

GERI

ELI

Financials
MBT

SECB

Holding - DMC

.. excluding the mining plays.

EURUSD Trade Setup #3

Trade #2 was stopped -32 pips. Reversed trade to short!

EURUSD Trade Setup #2

Sold the earlier setup at 109 pips. :) New long entry using H4 charts last night. Off to work!

EURUSD Trade Setup

Broke 1.4445 resistance. hope the trade continues :) I am a boring fx trader. I do this to keep my TA sanity in place. :D
Performance of my practice account here: http://harleywong.mt4stats.com

MER Trade Setup and PX Trend

Can't resist the signals...

PX looks like has bounced from its support at 20.2 and high probability of resuming trend. BUT ex-date tomorrow so let's see.

ISM Weekly

I put ISM on my watchlist last week when it closed at 3.11. Yesterday's and today's movement tells me that something is brewing with the group. I am now convinced that the trend has changed. Bought today with an average of 3.74. I'll be more than happy if this bull closes above 4 this week. :)

AEV

Nothing much has been happening with my portfolio this month. So far, I have only made 8 transactions, mostly selling non-moving positions (CMT, JGS, CYBR and PIP). I have also failed to ride the mining+lopez rally coz I'm trying to limit the number of stocks that I hold. Good thing though that I was able to ride DMC and ICT trains. Today I was actually focusing on SECB but it failed to close above 100 so it got me turned off. Anyway, I noticed something different with AEV! Talk about forced closings. It got my attention plus my system had a buy signal so I got in at the close with a probe position - only 4% of my total port. If the move is wrong I'll simply cut it. Who knows, this baby may hit a new high soon.

Spot the difference!

LR chart now vs DMC last 2009. :)

Survived Whipsaw Wonderland

Woo! After prolonged whipsaws here and there, my portfolio has moved to past break-even today! I'm not doing good so far this year but I really learned a lot. My goal was just to survive a ranging environment. The past month has been very good for range traders but I sticked to where my strength is. I kept on buying the breakouts thinking that a trend is about to start but it was always wrong. I felt proud of myself though that despite a drawdown of 7%, I managed to be unemotional in my trades and kept my faith in my system. Who knows, April may be the best month for trend followers!

Here's my portfolio holdings and performance at the end of Q1. I should get an additional 2% when I get the cash dividend from my AP holdings. :) Good luck in Q2!

The line in green is my equity while the blue line is PSEi.

JGS Weekly Trend Model

INDU and SPX

This is a SELL confirmation for trend followers. Will PSE still have a mind of its own? Hmmm.

New Leaders or Dead Cat Bounce?

The first stocks to bounce back or resume trend are usually the new leaders in a bull market.

Looking into AP, FGEN, LPZ, LND. I would tend to prefer stocks that are nearer their highs. Posting charts for reference only. :)

I do have AP though, bought the other day and doubled it yesterday :D

So, I joined the Absolute Stock Trading Game using bigblind as the nick. The rules are ridiculous but am just playing for fun. Nothing to lose there and who knows, there's a 75k prize pot. haha!

What's up AEV?

The day that I've been waiting for has come! A strong Friday close, volume above 20-day average, a breakout of short term resistance, a short cover signal based on ATR, a Livermore market key buy signal. There's no sure thing in the market but I've placed my bet! Simply cut if signal is wrong. Risking 2.50 on this trade.

So... I have more time to monitor Ms. Market now that I'm on a different timezone. Office work by day. Trader by night. My February though is just about breakeven so I'm still down YTD. Only holding three: AEV, MAB, MWIDE. Good luck traders.

Christina, enjoy the milk teas and dimsums! Go to Delicious Restaurant, their pork rib veggie rice is the best. :) Look oh! Yumm!

Trend Following E-books

When the trend is down, study! Sharing some e-books for a good month's read. My favorite is the first one, I've read it 3x already! :))

1. Edwin_Lefevre - Reminiscences of a Stock Operator
2. Richard Smitten - Trade Like Jesse Livermore
3. Dickson G Watts - Speculation as a Fine Art and Thoughts on Life
4. Jesse Livermore - How To Trade In Stocks (1940_original)
5. Turle Rules

MWIDE!

The only (up)trending stock (so far) - MWIDE 5min. M as in Moolah.
That one looks poised to break 8.28.. /please

Everything else is boo lah.. /blur

SMC poised to make new high?

SMC just broke a flag today and also broke resistance at 184. It looks like a valid breakout to me with volume also picking up. Next resistance is the all time high 189-190 levels. Cheers!