Check out the TATAs Journal...

Discussion in 'Journals' started by N54_Fan, Oct 25, 2011.

  1. N54_Fan

    N54_Fan

    Now that I have your attention. This is a Technical Analysis Trend Acknowledgment system (T.A.T.As...for short ...LOL)

    I have debated whether or not to make a Journal and I have decided to give it another try. I have never posted one on ET but I have on other forums. When I have in the past made attempts I noticed my emotions got the best of me in trying to be right and not following my system and my Journal was less successful than I expected even though my system is profitable when followed. So I will only be posting a few of the trades I see each day (until further notice) but I am more mature as a trader (and believe I can keep my emotions out of trading). I will try to show how trend trading can beat the market.

    I will not be discussing too much in depth about my system any more than I have elsewhere on this forum. I will say that it is obviously a trend following system and as such does NOT predict tops or bottoms.

    The account size is just over $100K. Typical trades allow for between 0.75% and 1.5% at risk on each trade with the most common size about 0.9%....rarely higher than 1% except in run away trends with no signs of slowing down when I raise my allowable risk to ~1.25% to 1.5%/trade. If not stated otherwise assume $800-$1000 is at risk on each trade (essentially fixed percent risk with some mild trader discretion as to amount).

    Shares purchased = (Capital at risk)/(Entry Price - Stop Price)

    As stated above assume Capital at risk = ~1% or so of total capital.

    Most of my trades are based on EOD data so I will enter trades at night with Buy or Sell Stops in most cases. Occassionally I see trades that I think need to mature a bit more and may make a trade mid day based on market movement. I will try to post them here at the time or soon after trade is taken.

    N54_Fan
     
  2. N54_Fan

    N54_Fan

    First 2 trades are SHORT WYNN and SHORT PPO.

    WYNN is O.C.O order with Sell stop @ $124.76 and $122.76 whichever comes first. Stop loss (buy to cover) is @ $128.17. Target is $107

    PPO is Sell limit order at $49.38 and stop loss @ $51.48. Target = $42 then $37.

    If the PPO order is not filled at or near open I may adjust my sell short price based on price action tomorrow.

    Lastly, if after entering a trade I see it is not going in my direction I may tighten stops or get out all together. Being a trend FOLLOWING system it is possible I am catching the end of a move.
     
  3. Looking forward to your journal.

    Nothing adds to your credibility more than posting in real time.
    I found that although posting screwed with my emotions it also made me accountable to follow my plan. I found it easier to admit to being wrong than to show my lack of discipline by ignoring my stops.

    All the best
     
  4. N54_Fan

    N54_Fan

    Thanks
     
  5. N54_Fan

    N54_Fan

    Both filled

    Wynn short @ 126.44 and PPO short @ 50.25. Stops remain where I set them.
     
  6. N54_Fan

    N54_Fan

    WYNN short not shaping up. Tightening stop to breakeven at 126.44. If hit I will lose commission only.

    PPO short still in play and doing VERY well.
     
  7. N54_Fan

    N54_Fan

    WYNN stop hit but filled at $126.38,...essentially breakeven trade or tiny loss once commissions included.

    New trade....LONG UYG @ Limit $44.90 with stop at $43.28....Just filled.
     
  8. Got a target?
     
  9. N54_Fan

    N54_Fan

    Yes,...sorry forgot to say. 1st target = $51.66 then 2nd target = $54ish (estimate 54.30).

    BTW, I always have a target if I do not mention it. I take trade only that have at least 2:1 Reward:Risk but usually they are siginificantly more than that.

    Deaddog, I looked for your trading journal as it seems you also swing trade and are a bit of a trend follower and you also seem to utilize TA. Am I right? If you could point me in the direction of your journal I would like to check it out. Thanks.

    First Journal days summary....DID VERY WELL. As many of you may know last week I lost ~1.8% on 2 trades being long 2X inverse ETFs and I more than made up for this loss today. WYNN trade was a wash except commissions and PPO was SOLID. Sold alot of shares since I shorted near high of the day and close to my stop loss. Made good coin as it fell 7.57% today!!. Also got in UYG at $44.90 and I see further upside for this trade.

    Plan to look over my charts and adjust stops later today. Plan to keep TIGHT stops on UYG as market may be topping here in my opinion. PPO I will likely let it have some more breathing room to mature even more as trend seems pretty solidly down here and todays sell off on PPO was on >2X normal volume.

    Good Luck.

    N54_Fan
     
  10. That was quite a while ago; back in 2007.
    Search "Follow the plan" in thread titles.

    Not a very good read. Mostly buys and sells. Might have been interesting at the time when you could follow the trades.There was not much discussion which is why I stopped posting. Still using the same set-ups but on a longer time frame.
     
    #10     Oct 26, 2011