Mouro Trading Journal

This is my personal trading log that I have made public, none of these trades are recommendations for your own trading. You are responsible for your own trading decisions and actions. Not me. This blog is my way of journaling because I am lazy and I don't know a better way of staying motivated to do it. I post daily and 4hr charts with Acceleration bands (20 prd), %R (30 Prd), and other indicators. I use Price Headley's methods and my favorite setups are %R retests outside the Accel bands.

Showing posts with label YCS. Show all posts

Thursday, July 8, 2010

Outside the band

Retests today include the following:

Longs:
FXY

Shorts:
DNB, VZ, LHCG, DNDN, CM, YCS

The rules on retests are that you use the day of the retest's highs and lows for stops for shorts and longs respectively.

So, example is VZ...today's high is 26.78...if you shorted it, this would be your stop. Headley waits for the close of the bar to manifest this stop. Also, Headley says you should try to get in as close to this stop as possible (within 1-2% if possible). This keeps your cost basis in line with a good trade should it go your way.

It also keeps you from chasing things if they run away from you on the next day's open.