Friday, February 08, 2008

How I Made 5 Grand in One Week

As mentioned in the comments section yesterday, I unloaded a number of shorts and entered a few longs:

I covered 100 shares of FSLR (short at $187.33) at $164.67 for a $2266 (+12.1%).

I covered 200 shares of MON at $102.43 (short at $114.27) for a $2454 (+10.7%).

I covered 75 shares of GS at 188.06 (short at $202.55) for a $1086 gain (+7.7%).

I covered 400 shares of DNR at $27.01 (short at $26.01) for a $404 loss (-3.8%).

I exited 300 shares of PAAS at $34.62 (entry at $35.86) for a $372 loss (-3.6%).

I bought 300 shares of ANR at $34.05 (currently at $35.44).

I bought 400 shares of HOV at $9.32 (currently at 8.73).

I am still holding DUG (ETF short oil and gas), ANR (long), PRXL (long) and AGU (short).

February performance on completed trades:
3 wins
2 losses
win rate: 60%
average gain: $1935
average loss: $388
total gains: $5806
total losses: $-776

Total Profit: $5030.

Not a bad haul for 7 days of work. Now lets hope I don't lose it all in the coming week.

While I am not happy about the win rate, at least maximizing gains and minimizing losses. Over the weekend, I plan to analyze a few of the trades I made. This type of trade review will become a regular feature of the site. First up will be FSLR. Take a look at the chart and see if you can get behind my strategy



BTW, for those new to the site, all entries can be viewed by going to the trade label or just scrolling down and viewing my Febuary posts.

9 comments:

Anonymous said...

What happened to your DSX short? Did you cover it?

Anonymous said...

great trades but the fslr was high risk at one point it went against you 10 points can you explain that trade and how you managed that becuase I noticed on the other trades where you took a loss the stocks did not go against you that much compared to fslr. thanks
sam

Anonymous said...

Hi this is sam I think you would make a lot of money giving stock buy and sell tips something you should think about and consider you would help your clients and yourself make a lot of money it is a win win situation think about it.

The Market Speculator said...

This post featured my February trades and current positions. I covered dsx for a loss when it hit my stop in January.

FSLR was not high risk. I had more than a 2:1 risk reward. I will analyze the trade in the coming days.

Thanks Sam. I may include a membership section in the future, but I don't have the time right now.

Anonymous said...

Hows your position on DUG? Your definately down on that one, but downside volume has been light. Could be in the early stages of a symmetric triangle.

Anonymous said...

FYI - AGU reports this week. The 13th before the open.

sunil said...

After a quick look at your chart, it seems you entered the short on a turn down of a stochastic (slow 5/5) and failure to stay above a moving average (12 EMA) and covered when the stoch turned back up...

I am guessing your stop loss was a little above the prior high of 01/29 - about 195 or round number 200. Risk approx: 8-13 points.

I wasn't able to figure your reward point - was it another moving average?

Anonymous said...

DUG looks premature on my charts as APC and others look primed to bounce this coming week. That aside, I am very impressed by your week's work. That is really good trading and something for me to aspire to.
Well done!

George said...

On your FSLR trade

1. Low(er) volume pullback to support ( ~193 to 200). OBV downward slope.

2. Stochs turning downward.

3. Rising wedge pattern

- Stop: > $200
- Reward: $ 174.10 (11/9/07 support)

I like these quizzes.keeps me thinking and learning.

Thx