Hammering away, slow and methodical

Quote from Rol:

Long 2000 shares SKF at 25.41, UltraShort Financials ProShare. This is my only position.
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What's your rationale for this trade if you don't mind me asking.

Its in a downtrend and I can't see any signs of strength in the weekly daily or hourly. The hourly looks like a pullback with more down side to come.

Regards and all the best whatever the outcome.
 
Quote from Placebo:

What's your rationale for this trade if you don't mind me asking.

Its in a downtrend and I can't see any signs of strength in the weekly daily or hourly. The hourly looks like a pullback with more down side to come.

Regards and all the best whatever the outcome.
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I agree about the downtrend in the long term. But today at around 10:30, it bottomed and began an uptrend the remainder of the day. It hadn't done this in the previous several days. Also, SKF backtests well with this strategy. Plus, I am anticipating some profit taking tomorrow with earnings releases in financials.
 
Quote from Rol:

I agree about the downtrend in the long term. But today at around 10:30, it bottomed and began an uptrend the remainder of the day. It hadn't done this in the previous several days. Also, SKF backtests well with this strategy. Plus, I am anticipating some profit taking tomorrow with earnings releases in financials.
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Thanks, I'll watch with interest.

Best of luck.

Regards.
 
Code: 
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Total Net Profit	$5,042.05 
(Per Share)	$0.14 
Gross Profit	$10,551.58 
Gross Loss	($5,509.53)
Profit Factor	1.92
Total Number of Trades	348
Percent Profitable	66.95%
Winning Trades	233
Losing Trades	115
Avg. Trade Net Profit	$14.49 
Avg. Winning Trade	$45.29 
Avg. Losing Trade	($47.91)
Ratio Avg. Win:Avg. Loss	0.95
Expectancy	0.31
Largest Winning Trade	$377.22 
Largest Losing Trade	($322.95)
Max. Consecutive Winning Trades	21
Max. Consecutive Losing Trades	12
Total Shares/Contracts Held	36091
Total Commission	$766.59 
Return on Initial Capital	5.04%
Annual Rate of Return	41.78%
Buy & Hold Return	0.04%
Trading Period	1 Mth, 12 Dys
Max. Equity Run-up(Daily)	$5,219.71 
Date of Max. Equity Run-up	4/12/2013 15:00
Max. Drawdown(Daily)	
Value	($2,969.18)
Date	4/4/2013 15:00
as % of Initial Capital	2.97%
Max. Trade Drawdown	($462.48)
[/b][/size][/color]

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Thanks Placebo! I am still holding, but will use a stop to prevent the gains turning into a giant loss.
 

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