14/08/14 – This Long Trade on this FTSE traded stock has been very volatile since it triggered in July with large price movements each day ( 1 bar) as can be seen from the chart below. With very little volume today the price has managed to rise and make a new Wave 5 high for this movement and so I have decided to get out whilst the going is good and take profit. This Long trade has given me a profit of 2% on my trading account balance, which was a major factor in my decision to get out of this long trade, along with the fact that I have also just closed a profitable trade on my INTU-LSE trade. Being conservative on profit taking with some trades and having an overall picture of my sausage machine strategy, on all the trades that are open and on my watchlist is the reason I have consistent results over the longer term. Trade management is an extremely difficult discipline as all trades are different, but being consistent is the key to being a profitable trader. Chart as below.
24/07/14 – Another one of my long trade setups to trigger yesterday and also the price crossed the 6/4 MA High line on its way up to give 9/9 indicators in the green. Augusts traditional low volume may not help the momentum of this trade but there is still a week left for this long trade to get up a head of steam. As Below
22/07/14 – This potential long trade on the London Stock Exchange is setting up well, with 8/9 of my indicators in the green. The current Wave 4 pull back seems to have found resistance at both the TJ’s Ellipse and the Fib 0.50 line and I am noe looking for the price to break out of the Trend Channel. I have opted for an aggressive entry into this trade, just out of the Trend Channel to take advantage of a Risk to reward ratio of 1:2. Buy order @ 131.60 with the Stop Loss @ 130.40 and the initial Take Profit limit Order 135.00. As Below