MACD/Trendline Swing Trader

retire45 · Jul 30, 2008

Long XIDE Yesterday 15.53
2 wasted small loss trades - CY long and MEE short..

Short JRCC 39
Added to RTI Short

JOEY O · Jul 30, 2008

Still long uaua? thats a pretty healthy gain right there. nice work.

retire45 · Jul 30, 2008

No.. Just sold UAUA and LCC (may have forgotten to post this long yesterday).. Also covered JRCC.. Correlation dictates.. Smells like an Oil bounce looming..

retire45 · Jul 30, 2008

Sorry JRCC stop at 40.75 not hit yet.

retire45 · Jul 30, 2008

May have been bush-whacked out of UAUA and LCC.. The price for watching... we'll see. Original targets were 10 and 6.

retire45 · Jul 30, 2008

Stopped out of GM
Sold UYG

retire45 · Jul 30, 2008

Long SQM 40.6

wallnbroad · Jul 30, 2008

Quote from retire45:

No.. Just sold UAUA and LCC (may have forgotten to post this long yesterday).. Also covered JRCC.. Correlation dictates.. Smells like an Oil bounce looming..

Rashid,

What is your criteria for taking profits on a winning trade?

retire45 · Jul 30, 2008

Sorry but it varies as these 3 and 4 letter words are unpredictable.. Usually if I have a 10% profit I will exit if there is any intraday breakdown... especially trying to break below the open after an hour of trading after having been strong.. Today Commodities were looking quite strong, and Oil had been close enough to 120 putting in a bit of a floor...

How do you do it?

wallnbroad · Jul 30, 2008

Quote from retire45:

Sorry but it varies as these 3 and 4 letter words are unpredictable.. Usually if I have a 10% profit I will exit if there is any intraday breakdown... especially trying to break below the open after an hour of trading after having been strong.. Today Commodities were looking quite strong, and Oil had been close enough to 120 putting in a bit of a floor...

How do you do it?

It varies as well. I will sometimes determine a target based on the chart and liquidate as it gets close. Otherwise an intraday reversal on an hourly chart usually makes sense.