as the book says. let the winner run.

aapl stock.

As an apple fan, I have pretty much all the apple products. I heard someone sold AAPL (Apple stock) at 355$ per share right after the earning at after market trading session. I was thinking this might be a historical high for a while, currently it's trading at 326$.
With Jobs leaving the company it's really hurting the longer term "growth" and this is really just what investor/speculator looking for. I don't think it's worth to hold aapl anymore.

EUR/USD spread.

The spread of EUR/USD has been widen, it was 0.9 the most time last year, but it's 1.5 to 1.2 since holiday started, now it's still at 1.2 the best.

Is this everyone else seen out there? I'm using OANDA.

2011-01-03

Today I TILT, it shouldn't be difficult to deal, instead of stop trading this kind of pattern, I need to still buying on this kind of market condition but not too aggressive when 1 minute chart is trending down. Basically there are 2 trades I have, buying on the pull back of EMA62, buying on previous support when it choppy, on the 2nd one, need to wait for confirmation before entering the trade.

System Development

Overview: I want to develop a trading system that can at least get me consistent result monthly, I can have losing days or weeks, not for month. This system can be automated or not, only depends on how it's implemented, cause if I put more technical factor and even fundamental factor in there, automation will be impossible.

Goal:

1. Consistency


2. reviewable, measurable

Details:

1. First I should be able to identify what day it is, is it trendy or ranging, that will help with the bigger picture, then depends on trendy or not, I can decide if I want to follow the trend or fade it with support/resist.


2. Following the trend: I can do resist breakout trade, after the breakout, buy the dip to ema62 on 5 or 10 seconds chart.


3. Range and fade trend: Short at the resist or after the breakout, if the price drop back to resist, short it and use the breakout price as stop.


4. In order to trace the trade and improve the system and make sure it's consistent, we need to have a google doc spreadsheet, it should include date/hour of the trade, Reward:Risk, result, Trendy/Range, Long/Short, 1d-1h-15-5, News, Comment. At the end of the week, should be able to review see if 1-1-15-5 help or not. The sheet shouldn't have P/L, it should only have if I follow the plan and if it worked or not. P/L should be tuned only after I can follow the plan.

So far, these 2 should be my best setup. I will run more test on both of them see how the 1day-1hour-15m-5m ema62 will affect the trend decision. The trending days would be easier to trade as more players will be involved and that means more volume and smaller spread, when last 2 weeks of the year, spread is high as 1.4 pips as normally it was 0.9.

Problems: There are problem with the system as

1. my target is 10 to 15 pips and stop is 10 pips, my spread is 0.9 meaning I give about 20% of profit as spread for round trade.