2 New Trading Blogs

Well, new to me.  I am not sure how long have they been blogging, but I have just discovered them in the past few days.  

TraderAM, and DaytradingPRD

By the way, PRD stands for Positive Range Divergence. Just in case you don't know.
(What do you think? Of course I didn't know either!! PRD Trader told me!)

Good Trading!

Lay Low until March!

I'm back in town but I have way too many morning meetings lined up this week. I have another business trip during the week of 2/25. Therefore, I don't think I will have time to trade until March.

I miss trading!

020808 - MFE - 15mins - Loss*Paper

Symbol: MFE
Type: Long
Result: Lost -1R

• The market hasn't closed yet, but I want to make this post now since I have tons of meetings this afternoon
• MFE gapped up this morning with a long Upper Shadow
• It tested the Opening Range High later in the morning but retraced
• I thought it found Support from the rising 5eMA, with an Inside+NR7 combo
• I entered Long during the 11:30 candle when prices broke the Opening Range High
• It retraced beyond my Protective Stop about an hour later
• An 1R lost
  
  

020708 - AKAM - 10mins - Gain*Paper

Symbol: AKAM

Type: Long

Result: Gained +1.52R

• Ooooouuuccchh!
• This hurts! Why? Read on...
• AKAM gapped up today but the first bar painted a long upper tail
• I gave up on AKAM in the beginning, but I couldn't spot any other decent setups, and when I reviewed AKAM again, the 7th bar, Inside, caught my attention
• I thought about entering Long, but chose not to because the 5eMA was just too far away
• The next 2 bars went all the way up to the 119% Fib., and I thought I just missed this one
• But prices came back down and since I still couldn't find anything decent to pay attention to, I turned my focus on AKAM
• When the 11:50 bar painted an Inside-NR7 combo, I decided to set a Stop Entry 2 ticks above the opening high
• I wasn't too confident in this trade because of the previous Resistance at the 119% Fib.
• But my entry was filled soon after, and the prices basically moved sideway in narrow range
• By 1300hrs, the prices started to rise!
• I wanted to exit half of my position when the prices reached the 119% Fib., but I accidentally exited my entire position! (This is where the 'ouch' came from!)
• As you can see, the prices continued to rise to reach my secondary target!
• It hurts! But hey, I didn't lose money, so I'm still happy!
  
  

020508 - UAUA - 15mins - Loss*Paper

Symbol: UAUA
Type: Short
Result: Lost -0.5R

• Ouch, ouch, ouch! What was I thinking? Why did I chickened-out before my Protective Stop?
• UAUA gapped down, my guess is, probably because of that stupid extra luggage fee
• Prices retraced and filled the gap... painted an almost Shooting-star at 10:30
• I entered Short when the prices break the low of the Shooting Star, during the 11am bar, with my target set to the Opening Range Low
• The 11:15 bar looked promising in the beginning, but formed a strong hammer, and closed above the 5ema
• I didn't know what/how to analyze the hammer... and the next thing I saw was a doji, which supposed to mean uncertainty
• Well, the only uncertainty was in my own mind!
• I thought I better cut my loss and exited my entire position during the 11:45 bar
• Well, my target was reached towards the end of the trading day
• Although I might have exited my entire position during that strong pull-backi during the 13:45 bar
• But still, at that point, I would still ended up with a gain, rather than a -0.5R loss
• I hope my readers had some better trades! Feel free to share!
  

020108 - ALTR - 10mins - Gain*Paper

Symbol: ALTR
Type: Long
Result: Gained +1.85R

• Picked up ALTR from Briefing/Jamie's Gapped-up list
• Prices formed a Cup-and-Handle formation, with the 10:50 bar closed strongly above Opening Range High
• The next bar (11:00) painted an Inside+NR7+Hammer(almost) combo
• The only thing that I didn't like about that combo is that it is a red bar, instead of a blue bar
• I decided to enter Long when prices break the high of the combo bar, with the bottom of the combo bar acted as my Protective Stop
• Upon entry, prices immediately shot up, but pulled back
• I didn't adjust my Stop and as long as the prices do not close under the Opening Range High, I was going to hang-in there!
• My patience paid off! At 1pm, there was surge in volume after another Inside+NR7 combo bar
• The prices went pass the 119% Fib. Level easily
• It painted a Shooting Star at 2:40pm, right at the Pivot Point / Resistance Level (see second chart.)
• I exited half of my position once the Shooting Star was completedly formed
• I moved my Stop to just underneath the flattening 5eMA
• My Stop was triggered 2 bars later
• My first winning trade of the year! I'm happy! Something positive going into the weekend!

Feel free to share your trades!

Cheers and Good Trades!