Friday, May 04, 2007

April month-end review

After going over my trades and positions as part of my monthly review, I've noticed that I actually taken too many trades than my usual and that I did not make as much as I should have with the high R values results of these trades. Based on my statistics, I noticed that I have several trades with high +R gains but that the position allocation is less that my ideal trade allocation. Also, having too many open positions affected my focus resulting into mediocre response once an opportunity presented itself .

In order to resolved this, I have been cleaning up my positions over the last three days and really focus my capital and effort on the best set-ups that truly reflects my inner trader. I'm a trend follower, momentum grabbing opportunist who pushes harder when the trend is in my side and retreats faster when the trade proved otherwise. I also had too much time on my hand last month during the day and so I moved away a little bit from being the TRADE TRIGGER using robot into a 'trade when I think I like the action' moron.

And now to my open positions,

After my entry at $83.60 for this NE trade, I bought some more when it pulled back to complete my allocation. It looks like this stock is on its way to my initial target of $90.

Picked up a few of RVBD when it started to bounce around $31 and will add to complete my position allocation when it clears $35.

Price action on AAPL is less than spectacular the last few days but it should improve soon or this trade will be scratched.

As I have mentioned in Wallstreak last week, this stock started to move ahead of earnings which means that serious money is being moved to work. I initiated a pivot buy on this stock when it cleared $113 and bought some more to complete my allocation at $128-129

Entered a pivot buy on CROX when it started to clear the CUP and HANDLE base at $56. I will add some more when a new buy point presents itself.

Bought some ICE after earnings at $129 and will look to add some more to complete my allocation at around $136.

This IBM stock is showing some life after my initial buy.


Anonymous said...

hey boss, how many shares do you buy in these stocks, and where do you set stop losses?

Anonymous said...

Hi mc,
I am interested to know if you consider any fundamental information in your stock selection process? You said you're influenced by Livermore and Darvas. Both have used fundamentals in their stock picking.
Would you please elaborate a little about your use of fundamentals and if not why you discard them?

mc said...

Anon 1:31PM,

Stop losses are usually based on technical chart points.


I use basic fundamental data like earnings, revenues and growth. Other than that, I don't have the proper know-how to dissect financial information.