Wednesday, March 27, 2013

A snapshot of some of my positions

I've shown below charts of some my of my current holdings, which have held up despite the current volatility in the markets. It is important to remember that these will be held until an appropriate exit signal is given, denoting the end of the current trend. There is no knowing whether this will be above or below the current price, and whether it will be tomorrow or in a few weeks time. However, I am prepared to let things take their course and see how far these particular price movements last.

The other point I'd make is that, by cutting my losing positions very fast (quite often on the day of entry), you get accustomed to seeing very few losses on your screen, and those that are there are considerably smaller than the profitable trades that you are holding. All this reinforces your belief and confidence in the system from a psychological point of view.

The first chart is of US stock Supervalu, which I entered at the end of last month. This has given more than one valid entry signal during this overall price move - one trader I know who uses the system opened a position on the entry signal given in late January - nice! I'm currently showing a near 5R profit on this position.

The second chart is of Italian stock Edison SpA, and again shows the same characteristics. This is showing a nice steady climb up at the moment, after again breaking out during last December. Unfortunately I did not open my position until the last breakout occurred a couple of weeks ago. Long may it continue!

The last chart is that of US shipping stock Excel Maritime Carriers, in which I opened my position in early March. This has been a bit more volatile, but is again in a defined uptrend, and we wait to see how this develops.

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