Link to book/video/Free book learning package:
To the business at hand. This trading record is updated during the week if there are trades: number of shares, stops, etc.
However, at the weekend, it all kicks off with a review of all charts and an update of the portfolio.
The portfolio that started at $100,000 on January 1st, 2020 now sits at $140,257.10. All trades are recorded in my book or on this blog.
Lets start with the BIG LAD…
S&P 500: SSO = UP, SDS = DOWN
We currently have an open position in the SSO with a trailing stop currently anchored at $4.37 below the high of $80.48. We purchased this symbol at $70.28 which means that even if the price were to collapse, we would make a profit ($80.48 – $4.37 = $76.11 stop out price, $76.11 – $70.28 = $5.83 profit per share).
To the chart Robin…
There is nothing more to do here except watch and cheer the trade on.
Gold: UGL = UP, GLL = DOWN
We were in UGL and then stopped out. We are now watching for the price to rise and mop up the overhead supply that represents resistance. These are sturdy traders/investors who bought all the way up and could be now vowing to get out as soon as the price gets back to their buy in price. I want that supply dissipated before entering a trade.
I have left the markings from the trade we did have. You see the high just before we were stopped out. I like to look to the left as we fulfil our trade conditions. If there is a higher price within the last two months, my buy goes just above the high of the candle that closes above that level.
Other conditions have been met. The blue EMA is above the green EMA. The price has dropped below the blue and then gone back. This is enough for us to buy. It looks like our price will be in the low eighties by the time that resistance level is cleared.
Oil: UCO = UP, SCO = DOWN
The UP ETF for oil has been flirting with trade. We had a level of resistance to clear thanks to the zone of resistance created by the falling window to the left.
We have our conditions met with a close above resistance and even though blue is below green, our ROC is above zero.
We currently have a stop-buy in at $34.83
20 Year Treasuries: UBT = UP, TBT = DOWN
I did a blog post yesterday because it demonstrated the routine you should be following. The UBT was being watched because we had a trade that was stopped out. There is always the possibility that a new trigger will develop.
UBT added another down candle that caused us to take a look at the inverse: TBT.
You can see that around position 1, the moving averages have done their work. We have a level of resistance at $16.27 within our two month look back window.
I jumped the gun a little in my last post. We still need a close above $16.27. We would then place a stop-buy just above the brave little candle that CLOSED above resistance.
Dollar Index: UUP = UP, UDN = DOWN
UDN represents the U.S. Dollar struggling against a basket of global currencies. As the dollar weakens, UDN rises. If the dollar strengthened against the basket, we would be looking at UUP.
We have an open trade in UDN. You can see around position 1 that all conditions were met: blue (21 EMA) above green (55 EMA) = uptrend (one definition) and the red (8 EMA) and the price rose above the blue and resistance. We bought in at $20.67. We have a .51 trailing stop which has been anchored by the high of $21.32 at $20.81. Since our purchase price was $20.67, this trade is also risk free if the price were to collapse. Look at us.
I want to repeat that we take all trades that our process kicks out in these five instruments. If we did not, we are no longer objective. We have inserted ourselves into the decision making. This is not a good thing because over and over again, we have proven to be the weakest link.
Also, it bears repeating that we are in the world of trades. The temptation is to try and figure out why 20 year treasuries are weakening or the dollar is struggling. This would put us back into the trading world.
Since our success is more likely in the world of trades, we don’t give a toss. The reasons are immaterial to us, let others feel better figuring it out.
My email address: email@example.com. I will be most happy to answer any trading questions you may have.