isa's short term trading journal

LONG DAX update: closed at 7162 for +3 (+£6).

Price action seems flaky or I'm too impatient. Either way I guess I should step back.
 
new trade

LONG DAX, 7157, £2/pt. Stop: 7147, Target: 7180

last one this morning. Got to go out again - childcare!
 
DAX Closing Trade Details

Closing trade

DAX
Entry Price: 7163.30
Exit Price: 7187.30

Trade Percentage: 0.34%

Daily Channel Captured: 6%
Trade Grade: C-

Account P/L: 0.30%

Points: +24

Exit Reason
The Dax hit my original target which happened to be a resistance meeting point between the rising up channel and the horizontal line. See attached chart.
 

Attachments

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Barclays Jun 11 Spread Exit

Closing trade

Barclays Jun 11 Spread

Entry Price: 308.31
Exit Price: 314.29

Trade Percentage: 1.94%

Daily Channel Captured: 12%
Trade Grade: C

Account P/L: 0.07%

Points: +5.98

Exit Reason
Looking weak IMO on the daily chart considering the rally in the market today. I like the stock longer term, but short term I think I can get in at a better price.

Attached is the daily chart
 

Attachments

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Last edited:
Ok, that's me done for the week. I'll post the weekly account update at the weekend. Have a good one.
 
Stats (for Fri. 25th Feb);

7 trades today (2 short, 5 long)
5 winners, 0 losers, 1 b/e, 1 still open
avg. trade size, £2/pt

Won: £100, Lost: £0
Balance: +£100
 
Account Update

It was a good week, even though I made a slight loss of -0.25% on the account, as I followed my plan and didn't make any mistakes. I exited GKN after a downgrade from Citi near my stop loss and took profits on Barclays as the daily chart was showing weakness when the broad market was rebounding. I was expecting a short term bounce on Friday so I played the DAX from the long side intraday and made a nice trade. But I think the market will roll over again next week so I chose one of my watchlist picks (IRV.L) that was looking weak and went short near the close Friday.

Closed Positions
GKN Plc Jun 11 Spread: -9.29% (Account P/L: -0.50%)
Germany 30 Rolling Spread: +0.34% (Account P/L: +0.30%)
Barclays Jun 11 Spread: +1.94% (Account P/L: +0.07%)

Open positions
Interserve Mar 11 Spread: -0.90% (Account P/L: -0.03%)

Performance

Relative performance against the indexes was good this week. I did 1.70% better than the S&P 500 and 1.17% better than FTSE 100. Below is the details:

My SB Account
Week: -0.25%
YTD: -0.99%

S&P 500
Week: -1.72%
YTD: 4.95%

FTSE 100
Week: -1.34%
YTD: 1.72%

That's almost February over. So it looks like I'm going to finish the month in profit as I'm currently 0.28% up for the month, unless Interserve gets stopped out on Monday.

According to my historical seasonal analysis of the S&P 500 the first week of March is very weak, but the second week in March till the end of April is a great time to go long stocks with an average 3% move in the index. So, I'm going to be looking for stocks that had good relative strength at the end of last year and have sold off since then, but that are now looking promising again. Antofagasta is a good example that I'm watching.

Have a good week

Below are the charts and this week trades spreadsheet
 

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  • Relative_vs_SP500_25-2-11.png
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SHORT DAX update: out at 7176 for +10 (+£30)

Good start. I forgot you were still in from Friday. I was going to ask you what you were thinking about it this morning. As looks like a pop and drop at the moment IMO as has pulled back 50% of the spike up earlier. I was thinking of going short if it doesn't make it back up to the 7190 level again. What do you think about it?
 
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