Thanks for the worksheet but would like to suggest some changes if you are willing. Can you have : 1) A total summation at the end of all the rows. This is especially useful for the result and result % columns. 2) Have a column besides the stocks so that one can see how many stocks that have been traded 3) Exit date with number of days each trade has been held or are still open 4) Average number of days held per stock Thanks
Please discuss your placement of Trailing Stops. How long have you been trading this exact same methodology and do you earn a living only from your trading?
Hi, I will try explain all at once, because isn't easy explain all in one email. First sorry for language mistakes. English isn't my first language.. I'm not bottom trader I donât buy weak stocks and wait reversals. Also I don't sell up trend stock without reversal pattern. I will try to explain how I do that. I'm breakout trader, and that mean I look for continuations. I will buy the uptrend stock on consolidation (base, flag, and triangle). That is in DRQ example from watch list. http://www.swingcharts.net/Ivica/2006/08092006drq.jpg On weekly chart you can see uptrend and right now we are in consolidation (triangle) at highs. So I look for break up and because of that I look for continuation up. I can short uptrend stock, but only in case that trend can be changed and for that I use reversal patterns like avalanche (one of reversal patterns). Same is for downtrend stock. If I will see trend reversal possibility (phoenix) I will buy it. I look on things very very simply and because of that this style is profitable. PBG, take a look at weekly chart. http://www.swingcharts.net/Ivica/2006/08092006pbg.jpg . We have uptrend stock, with consolidation at highs. So I will look for continuations. As I told above, I'm breakout trader. In my head all is very simply. Market work on this way. move-rest-move. I use Rest to cut my risks (that are trading patterns) and I expect another move after rest. My system is based on basic knowledge and is simply without lot of the indicators. I use breakouts for trend continuation. Generally that mean I will look for strong stocks for long trade and weak stocks for short trade. When I scan for trade opportunities I look for pattern (base, flag, triangle) which one will bring me good risk reward opportunity. There are few important parts for my style. - Technical analyst - More time frames screen: http://www.swingcharts.net/Ivica/class/scanning screen.jpg that is important to see that stock what I have on screen have enough room for move what I will look for, and for good risk/reward - Risk- Reward. This is one of basic stuffs for my style because it is very important for profitability. Generally I never take trade if he doesnât see at least r/r: ½. Example: XYZ long above 22.00, stop under 21.50. Risk is 50 cents and if there is not enough room for $1 move up that trade wonât be taken. - Risk management. Very important to understand how much trader want risk in every trade and market. For that is important risk recognition. That is little about my style. I have 7 years of experience, also 5 years with teaching new traders in trading room and over special mentoring programs. Yes I can live from my work. I also developed trading service for others who like my style. About tracking records. I canât bring the share numbers because as I know that is suitable because my service and all what I brought out is just advisory service and I donât want mess with that problems. Because of that Iâm always available in the trading room or via email and everyone can contact me if have any question. All this is very easy. I believe that I have good profitable style based on basic knowledge, and I hope I can help to others, other way for those who donât like what I do great news is that to be successful you have thousands other styles. Wish all nice weekend Ivica
Let me clarify this with an example : 1 PFE 2 RIMM 3 VLO That is what I mean with the numbers 1,2,3. That will tell us how many different stocks that were traded in a month. Not interested in number of shares that you invested. From your reply, I guess that you will not be interested in implementing any of the suggestions such as total return and % return for a month that I mentioned? Without that its very hard for a reader to judge one's performance overall unless they want to do a manual calculation ie adding up each stock's return etc. Thought that my suggestions would help the readers. However, its your journal to do as you please.
Ivica, I think you're on your way to having a good journal, but I'd like to suggest some ways to make it easier on the reader to follow it. I think it will bring credibilty to the journal. 1) Most importantly, ALL stocks, whether they are WATCHLIST, WATCH IDEA, or FOLLOWING CHARTS stocks need to be listed on the monthly results sheet. Otherwise, it can appear that you are just listing more of the good breakout stocks. Sure we can look at all those stock charts on our own, but, all you have to do is have a column with N.T. (No-Trade) for the ones that don't breakout. 2) It would be helpful to have a column that tells if the stock is a Day Trade or Swing Trade or even better, just put in the column D, 120, 60, etc. to designate the timeframe. Otherwise a reader has to go back through the journal to look it up. 3) This one is asking for alot, but it would be great to have the original setup chart link that you have, PLUS a link to today's chart with a lines showing Entry & Initial Stop. 4) I think BillP had some good ideas too. This is the kind of stuff you'll need anyway, if you plan to open a swingtrading website. But, like BillP wrote, it's your journal.
Vista & Billp First I want to thank you about the suggestions and I think about all them. Sorry for a grammar mistakes because English isnât my language. On my watch list I send the stocks (setups) with exactly trading plan. So you can see that the every stock in the watch list have exactly entry, stop and target area. I think that all is clear there. Also you can see note about if is swing or day or position trade (DT, ST, PT). Or if is day trade what can turn to swing trade (DT-ST). Every trading plan has that informationâs. I also bring the last/future earning date in case that is earning date very close. In the tracking records you can see every day update about trailing stop or target change. So I believe that all is clear there. I wonât bring a number of shares because that is suitable because I already have my web site, and I have trading room so people that like what I doing can always find me and ask me about anything. I have advisory and counseling service for the individual trader, and I donât want bring any suitable situation for myself. Iâm not broker or anything bigger. Every day in the market commentary I talk about risk and how big or small is, and I explain reasons. So I believe that every trader can recognize that, and also every new trader can find me anytime if he/she wants. Because of that every month results are questionable. I can tell you that I made last month 15%, and how you will check that. You cant, it is just up to my word and I donât want give that informationâs out because it is uncheck able. Risk is personal part for every trader, and if you someone tells that arenât true I wonât agree with him. I have 5 years of experience with mentoring programs and with teaching new traders in the chat room and my goal is to have service where people can learn and build own style what is in my opinion reason why someone is with me. If any new or old trader think that will just blindly follow any other instructions and will be rich that is wrong thinking. I donât want bring out informationâs that I made 30% in 5 days, or 100% in a month, I talk to all the people in my room what kind of work is this and what they can expect. So I want to have all honest and open. Because of that is impossible to talk about the risk rule. It is individual part and depends on every trader. I canât tell you how big or small risk you will take in every trade, but I can tell you my opinion about what risk we have in market now. It is very important that from knowledge every trader recognize what risk is outside, and after that is up to the trader. About setup and stop lines. That is good idea and I will bring that up. Hope I explained well everything what I liked, also if will be any comments and suggestions please feel free to tell me. Good trading day to all!!! Ivica
Market commentary for 10/03/2006 Good day! Yesterday the market opened weak and bounced from intraday support. The QQQQ and the SPY broke under the 60 min consolidation and the 15 min C&H pattern didn't hold which resulted in a strong intraday sell off. The DIA a much smaller index stayed in the 60 min range. Looking at the QQQQ you can see we have had 2 selling waves including Friday's action. I believe that we have room for another move down this morning. The QQQQ has support at the 20sma. Also 40 as whole number support. The consolidation on the SPY and DIA at yesterday's lows is the reason I will look for another move down unless the market opens with a gap. On the daily charts you can see the DIA is the strongest index and is holding better than the SPY and the QQQQ. You can also see the support areas the indices will have in this correction to the daily charts. Remember resistance is now support. We still don't have a clear signal for our swing trading, so my risk will remain the same. Yesterday's volume was extremely light due to the holiday so perhaps the market will show its hand today. http://www.swingcharts.net/Ivica/2006/10032006qqqq.jpg http://www.swingcharts.net/Ivica/2006/10032006qqqq60.jpg http://www.swingcharts.net/Ivica/2006/10032006qqqq15.jpg http://www.swingcharts.net/Ivica/2006/10032006spy.jpg http://www.swingcharts.net/Ivica/2006/10032006spy60.jpg http://www.swingcharts.net/Ivica/2006/10032006spy15.jpg http://www.swingcharts.net/Ivica/2006/10032006dia.jpg http://www.swingcharts.net/Ivica/2006/10032006dia60.jpg http://www.swingcharts.net/Ivica/2006/10032006dia15.jpg Watch list for 10/03/2006 IMPORTANT: Take only the opportunities that you really like and understand. Always enter a trade with a trading plan. If you have any questions, please feel free to ask me. There is a much greater chance of success in your trading if you understand the trade. That is very important. Taking just a few trades is enough to be a successful trader. Overtrading is probably the number one reason new traders fail. I personally mostly take swing trades. Please remember to keep that in mind!!!!!!!!!!!!!!! LONG: Swing possibilities (ST-PT) JPM long above: 47.50, stop under: 46.50, target: 50 areas ST http://www.swingcharts.net/Ivica/2006/10032006jpm.jpg Last/next earning date: Oct 18, 2006 Day trade possibilities (DT-ST) KMB long above: 65.32, stop under: 65.60, target: 66-67 areas DT-ST http://www.swingcharts.net/Ivica/2006/10032006kmb.jpg Last/next earning date: Oct 23, 2006 SHORT: Swing possibilities (ST-PT) BMET short under: 32.00, stop above: 32.50, target: 30.50 areas ST http://www.swingcharts.net/Ivica/2006/10022006bmet.jpg Last/next earning date: Sep 20, 2006 WTR short under: 21.50, stop above: 22.40, target: open ST http://www.swingcharts.net/Ivica/2006/10032006wtr.jpg Last/next earning date: Aug 02, 2006 Day trade possibilities (DT-ST) USG short under: 46.95, stop above: 47.74, target: 45 areas DT http://www.swingcharts.net/Ivica/2006/10032006usg.jpg Watch ideas: Long: http://www.swingcharts.net/Ivica/2006/10032006avt.jpg http://www.swingcharts.net/Ivica/2006/10032006uic.jpg http://www.swingcharts.net/Ivica/2006/10032006ctv.jpg Short: http://www.swingcharts.net/Ivica/2006/10032006ggb.jpg http://www.swingcharts.net/Ivica/2006/10032006safm.jpg http://www.swingcharts.net/Ivica/2006/10032006avidpg DT - day trade ST â swing trade PT â position trade DT-ST â starting with day trade and can turn to swing trade ST-PT â staring with swing trade and can turn to position trade Tracking records: http://www.swingcharts.net/Ivica/2006/dwl092006.htm - for September I am always available via email if you have any questions. Good luck trading today!!!! Ivica Juracic
Market commentary for 10/05/2006 Good day! Yesterday we had a strong trend day despite my expectations that the weekly resistances will hold. Those individuals in the room saw how I followed the market action versus my expectations. We had a number of long setups and most have done quite well so far. ACLS, IGT, MHP, KMB, GGP, SPG, UDR, DRI, CTL, IAVI and LM gave us nice moves up. They are now overbought on daily charts and because of that I will look to protect our positions on them. Important to note I need to mention an old cliche or adage that "the market can become even more over bought." I closed my position in KMB for the sole purpose of protecting some capital. The trade provided a nice r/r and I took profits. I look for the market to continue to the upside in the morning because on the daily charts the indices have more room for that move. While I am bullish and expect more buying in the coming days we can expect corrections on the 30/60 min charts. With the strong move yesterday new swing setups will be higher risk and I will reduce my risk considering that possibility. All the indices made new weekly highs with the QQQQ and the SPY following the DOW with a nice increase in volume. This rally being called the "Bernanke Bounce" is being fueled in part to lower oil but mainly due to the stronger bond market and lower interest rates. Bernanke conceded yesterday the housing market is weak and that weakness will slow the economy enough that the fed will not have to raise interest rates at this time. As usual I will follow the market action which is the best decision for every trader. http://www.swingcharts.net/Ivica/2006/10052006qqqq.jpg http://www.swingcharts.net/Ivica/2006/10052006qqqq60.jpg http://www.swingcharts.net/Ivica/2006/10052006qqqq15.jpg http://www.swingcharts.net/Ivica/2006/10052006spy.jpg http://www.swingcharts.net/Ivica/2006/10052006spy60.jpg http://www.swingcharts.net/Ivica/2006/10052006spy15.jpg http://www.swingcharts.net/Ivica/2006/10052006dia.jpg http://www.swingcharts.net/Ivica/2006/10052006dia60.jpg http://www.swingcharts.net/Ivica/2006/10052006dia15.jpg Watch list for 10/05/2006 LONG: Swing possibilities (ST-PT) CINF long above: 48.60, stop under: 48.35, target: 50 areas ST http://www.swingcharts.net/Ivica/2006/10052006cinf.jpg Last/next earning date: Nov 01, 2006 ODP long above: 40.85, stop under: 40.00, target: 43 areas ST http://www.swingcharts.net/Ivica/2006/10052006odp.jpg Last/next earning date: Oct 17, 2006 SHORT: Swing possibilities (ST-PT) WTR short under: 21.50, stop above: 22.40, target: open ST http://www.swingcharts.net/Ivica/2006/10032006wtr.jpg Last/next earning date: Aug 02, 2006 UNH short under: 49.00, stop above: 50.00, target: open ST http://www.swingcharts.net/Ivica/2006/10052006unh.jpg Last/next earning date: Oct 19, 2006 Day trade possibilities (DT-ST) HCR short under: 50.90, stop above: 51.27, target: 50 areas DT http://www.swingcharts.net/Ivica/2006/10052006hcr.jpg Last/next earning date: Watch ideas: Long: VCLK Short: RBAK, PPL DT - day trade ST â swing trade PT â position trade DT-ST â starting with day trade and can turn to swing trade ST-PT â staring with swing trade and can turn to position trade Tracking records: http://www.swingcharts.net/Ivica/2006/dwl102006.htm - for October I am always available via email if you have any questions. Good luck trading today!!!! Ivica Juracic
Market commentary for 10/06/2006 Good day! After the strong move on Wednesday we got a consolidation day. While nothing is a guarantee, this type of action is typical the day after such a move. We can see on the 15 min charts the indices spent most of the day in a range action. I was hopeful that range will hold since we could get a continuation pattern today on the daily charts. but unfortunately indices didnât cooperate. That slight break to new daily highs will increase risk for traders. The indices didnât get enough rest after Thursday strong move up for the low risk setup. I will still look for the correction, at least, on the 30/60 min charts The QQQQ still has room to see the previous weekly high resistance area (42 areas) and with the SPY and the DIA action we could see another move up in the morning. As usual anything can happen. I will repeat no one knows how far any move will go, but we can recognize risk. And with that information we can use proper risk what is one of the biggest aspects to become a successful trader. My bias for today is again bullish in the morning. I will closely follow open positions and for the new setups I will use half risk. The job report pre-market could have a huge impact on market direction. Today is Friday and with bond market closed on Monday I anticipate the only reasonable trading will be in the morning. The rest of the day probably will be sloppy and worthless for trading. http://www.swingcharts.net/Ivica/2006/10062006qqqq.jpg http://www.swingcharts.net/Ivica/2006/10062006qqqq60.jpg http://www.swingcharts.net/Ivica/2006/10062006qqqq15.jpg http://www.swingcharts.net/Ivica/2006/10062006spy.jpg http://www.swingcharts.net/Ivica/2006/10062006spy60.jpg http://www.swingcharts.net/Ivica/2006/10062006spy15.jpg http://www.swingcharts.net/Ivica/2006/10062006dia.jpg http://www.swingcharts.net/Ivica/2006/10062006dia60.jpg http://www.swingcharts.net/Ivica/2006/10062006dia15.jpg I am always available via email and in trading room if you have any questions. Good luck trading today!!!! Ivica Juracic