Market open 1 December 2008

Stops changed as per Friday's post.


Sharon

Market close week ending 28 November 2008

Hi all

Gotta move stops on DUE, RIO and TPI.

AWB got a long signal by consumer staples below its 30 week wma.

No short signals at all.


enjoy your weekend
Sharon

Market open 24 November 2008

Hope the weekend was good.

Changed my stops as per Friday's post.

Opened new positions on DJS, CSL and BLD. Was not able to short sell BBW for some reason, nor PPT but that's in the financial sector.


bye for now
Sharon

Market close 21 November 2008

Hope you are all having a great weekend.

Short selling is now allowed on the ASX. Got first signals on PPT, DJS, CSL, BLD and BBW. They are all in sectors trading below their 30 week WMA so will open positions for them on Monday. PPT is in the financial sector, and I think there is still a short sell ban on financial stocks.

Will change stops on CRG, DUE, GUD, LEI, MIG, TPI and XDJ.


cheers
Sharon

Market open 17 November 2008

Hi everyone

Just moved my stops as per Fridays post.

Trading can be sooooo boring. Make sure you get a life!



Sharon

Market close 14 November 2008

Hello everybody

On Monday, I need to move my stops on DUE, MIG and WES.

Notice how boring these posts are despite the volatility on the markets. That's simply because I have a plan and stick to it..... If you want to be successful with trading you need a plan too!


until Monday
Sharon

Market open 10 Nov 2008

Changed stops as per mentioned on Friday.

No new positions opened.



Hope you all had a great weekend.
Sharon

Market close 7 November 08

Hi everyone

I'll need to move stops on XDJ and DUE.

No short signals this week.

Two long signals TTS and AMC, but both their sectors - consumer discretionary and materials - are trading below their 30 week WMA (not surprisingly) so the signals will be ignored as per my trading plan.


bye for now
Sharon

Market open 3 November 08

Hope you all had a great weekend.

Moved stops on APD, DUE, GUD, TPI, LEI, and XDJ.

Love locking in some profits!


Sharon

Market close week ending 31 October 2008

Hi everyone

No new long signals, a couple of short signals, but that's of no use anyway.

On Monday morning I need to move stops on APN, DUE, GUD, TPI and XDJ.


Hope you are enjoying your weekend.


Sharon

Market open 27 October 2008

Hi everyone

Just changed my stops as per Friday's post. Still no short selling allowed until sometime in November.


regards
Sharon

Market Close Week Ending 24 Oct 08

Hi

Got a long signal on BEN but the financial sector is still below its 30WMA.

Got short signals on KCN, IOF and BKN but fat lot of good that does me seeing I'm not allowed to go short. I'm lucky I was already short a large number before the market tumbled.

Did I say lucky? There's no such thing as luck. It's being brave enough to take the opportunites as they arise. Ever heard the saying "fortune favours the brave?"

When the market opens on Monday I'll be moving stops on APN, IVC, NCM and XDJ.


Have a great weekend.
Sharon

Market open 20 October 2008

Good morning

Moved my stops as per my post on Friday except for TSO. I wasn't allowed to move it because the stop was "too far away". Must be some rule I was unaware of..... So, I exited because if I can't lock in some profits I'll just take what's there! Profit of $500.


cheers
Sharon

Scans week ending 17 October 2008

No new signals this week despite the big falls. Plenty of stocks have reached new lows, but not much volume to it. Wouldn't have been able to short anyway, so no big deal.

On Monday morning I'll be moving stops on AWE, CRG, IVC, RIO, TSO, WES and XDJ.


cheers
Sharon

Market Open 13 October 2008

Hi everyone

Changed all my stops as per Friday's post.

Got short signals on the following stocks which are all in the energy sector: WOR, WPL, STO, ROC, PDN, and OSH. Given that we can't short sell stocks at the moment I thought I'd be clever and short the energy index XEJ. Unfortunately that's not allowed either.

Doesn't look like I'll be entering any trades any time soon.


Sharon

Market close week ending 10 Oct 2008

Another bumpy ride of the stock market this week. I was stopped out of ILU on Thursday which is understandable because I was long.

Will be moving stops on APN, AWE, CRG, IVC, MIG, RIO, TPI, TSO, WES and XDJ.

Got first signals to short quite a number of stocks - mostly materials. Given I cant put on any shorts I may actually short the index.



until Monday
Sharon

Market open 6 Oct 08

Sorry, I only just realised I'd forgotten to post yesterday.

Anyway, not much to report except that I changed my stops as per my previous post. Locking more money in is my favourite thing to do regarding trading.

Stopping short selling certainly hasn't stopped the market falling has it? Maybe everyone is dumping their stocks in the anticipation of buying them back when they've bottomed out because if they stay in them it may take years to recoup their losses.

Either that or they're just plain scared and have no intention of entering the stock market again.

Anyway, I really wouldn't have the faintest idea.... Nor do the experts if you can call the talking heads on TV experts. Just watch the charts and do what the charts tell you.

Most of my trades are shorts so I'm happy for the market to keep on falling.....


Sharon

Scans for week ending October 3 08

Hope everyone is not spooked by the volatility of the market over the past couple of weeks. You shouldn't be because you have a trading plan and you are sticking to it, arent' you? Trading is not meant to be entertaining, exhilarating, scary or anything. It just is...

If you wanted you could set aside some funds to play around with, but that would be gambling, never mistake that for trading!

Anyway, enough of my waffle.

Surprisingly, I was exited out of WOW due to my stop being hit. I was short, which is why it is surprising.... Anyway, a grand profit of about $60! Beats a loss I guess.

Got short signals on FKP and BHP which will do me no good at all as the ban on short selling is still in place (as far as I know. Will find out for sure Monday.)

Gotta move stops on AWE, CRG, GUD, IVC, RIO, TPI, TSO and WES.


Will post after market open on monday.
Sharon

Market open 29 Sept 2008

Changed my stops as I mentioned Friday.

Short selling still not allowed.


Sharon

scans market close week ending 26 September 2008

Hope you are all having a great weekend.

Just one short signal this week for CEY. Probably won't be able to enter though as I think there is still a ban on short selling.

I need to move stops on CRG DUE GUD IVC RIO and WES.


until Monday
Sharon

Market Open 22 September 2008

Did everything as per Friday except for short selling ABC. My CFD provider wouldn't allow me to because of underlying borrowing restrictions or something. It has happened to me before and you just have to live with it.

I heard on the news later in the day that ASIC has banned short selling (boo hoo) in order to stem the fall on the stock market I assume.

All stops moved OK as I outlined at market close on Friday (previous post)


cheers
Sharon

Scans 19 September 2008

Hi everyone

Well, who would have thought that after a week of turmoil on the world stock markets I'd get buy signals on 5 stocks and a short sell on only 1!

Anyway, got a short signal on ABC which I'll take because the materials sector is below its 30WMA.

Long signals on WDC QBE and CPA which are the in the financial sector which is still below its 30WMA (only just though), so won't be buyng those.

Long signals on WAN but won't take it because the consumer discretionary sector is below its 30WMA.


Long signal for TCL but industrial sector below 30WMA so will ignore that stock also.

Gotta move stops on DUE, RIO, TPI and TSO.


Sharon

Market open 15 September 2008

Moved stops on NCM RIO and WES.

Exited PDN for a loss of about $400 and exited TTS for a gain of about $900.

Shorted AWE risking $500.


cheers
Sharon

Scans Week Ending Friday 12 September 2008

Move stops on NCM, RIO and WES.

Signal to exit PDN and TTS.

Short AWE in the energy sector which is below wma30 so will open a position on Monday morning.


cheers
Sharon

Scans 5th September 2008

Hi

Got stopped out of SEK during the week for a small profit of $200.

I had a phone call from my CFD provider saying that JST was being taken over (or something) and I should exit if I didn't want to be subject to the takeover company. Anyway, because I didn't understand the risk associated with continuing the trade I decided to exit. Loss of about $250 unfortunately....

On Monday I will exit FLT and QAN because I got signals to do so as per my trading plan.

Got short signals for RIO and NCM which I'll enter on Monday.


Sharon

Market open 1st September 2008

Gosh, I forgot to update this yesterday at market open. I apologise.

Anyway, I stopped out of UGL.

Changed stops on IVC and WES.

No new trades opened.

Update again at market close on Friday.


Sharon

Scan week ending 29 August 2008

Hi everyone

My scan showed a stop out of UGL. It's in profit about $400 so that's not so bad, better than a loss!

Move stop on IVC to $6.53 and WES to $38.45

Got no short signals and 3 long signals SPT (industrials), BBG (consumer discretionary) and APA (utilities). The indices are still below their 30WMA so they'll all be ignored.


have a good weekend
Sharon

Market open 25 August 2008

Well, I just simply followed what I said I was going to do on Friday.

Stop out PBG for a loss of about $330.

Changed my stop to $8.56 on GUD.

Shorted TSO risking $500.


It'd be nice to get stopped out of something for a profit for a change! However remember the golden rule of trading.... Let your profits run and get rid of losers real quick!

Day trading may be a little more interesting, fun and exciting. However, I'm in trading to make money which is why I'm sticking to my long term trading plan. I have no interest in day trading because it doesn't suit my personality.

The reason I started my internet business was so that I wouldn't be tempted to entertain myself by micro managing my open trades.

Anyway, back to my internet business (which, by the way, I find interesting and fun).


Sharon

Scan week ending 22 August 2008

Hi everyone

How's your trading going? Remember, stick to those trading plans!

TSO has come up as a short today and it's in the financial sector which is still trading below its 30 week wma.

DOW came up as a long but the industrial sector is below its 30 week wma so that's a no go.

I'll exit out of PBG on Monday because it's at a 12 week high.

Will move my stop on GUD to 8.56.

Also got a signal to move my stop on WES, but I won't because it takes me further away from the price action as per my trading plan.

Got automatically stopped out of CSR today taking a loss of $400. Better than $500!

Will write another post after market open on Monday.


Sharon

Market open 18 August 2008

Had nothing to do this morning after the end of weeks scans showed no change to any stops and no new entry signals.

Scans week ending 15 August 08

Well, absolutely nothing to do for this week.

NO stops to be moved and NO signals.

I was a bit nervous at the end of last week. I was sooo tempted to close out a few positions because it all seemed to be going against me. However, I resisted the temptation and that was the right thing to do. My heat position meant that I could not open any new positions which was a good thing for my blood pressure... BUT I should be experienced enough by now to not let things get to me.

Afterall, thats exactly why you need a trading plan that includes risk handling. This means that the potential on the upside is unlimited, but should everything turn pear shaped you're not going to lose everything.

Remember, the main goal of trading is to survive to trade another day! No money, and you can't play.


happy trading
Sharon

Market open 11 August 2008

Moved stop on GUD to $8.89

Not opening any new positions today because my portfolio is almost at maximum heat. Just opening 1 new position would take me above it.

I must admit to feeling relieved that I have this excuse not to open any new trades. All the signals I got I didn't really feel comfortable with because they were all vacillating between support/resistance - very high risk in my opinion.

I'm thinking about how I can change my trading plan so that I reduce the number of first signals I get.


happy trading
Sharon

Scans week ending 8 August 2008

Hi everyone

Got 6 signals this week.

3 to go short - OST ERA and CXP
3 to go long - RMD JBH and BKN

RMD will be ignored because the health sector is below 30 week WMA
JBH will be ignored as the consumer discrection sector is below 30 week WMA
BKN will be ignored because the industrial sector is below 30 week WMA

That leaves OST, ERA and CXP. Problem is that taking all those signals will take my heat up higher than my trading plan allows.

I need to generate fewer signals. Will ponder this dilemma and come up with a solution before placing any trades on Monday.

Will need to move my stop on GUD to $8.89.


enjoy the weekend
Sharon

A stop is hit

OOOOOOOOh trading can be so frustrating! Got stopped out of RMD for $500 loss.

That's $1k realised loss over the past week.

Honestly, sometimes I feel like giving up BUT I won't. And nor should you if you are trading to a strict trading plan. Cut your losses (which is what happened with RMD), let your profits run and don't become emotionally involved with any of your open positions.

If you need help with writing a trading plan have a look at Guide to Writing a Trading Plan. It's currently $19.95 with bonuses. I haven't personally seen it, but I know there's a 60 day 100% money back guarantee, so if it's not helpful, just ask for a refund.

If you do buy it I'd be interested in what you think. Just reply to this post.

Anyway, I'm going back to banging my head against a brick wall. Only joking of course, but it does feel like that at times.


until the next post
Sharon

Market open 4 August 2008

Moved stops on ALL, GUD, ILU and XDJ.
______________________________________

Shorted LEI, risking $500

DO NOT trade any instrument without a trading plan. Download my trading plan to see how I make decisions on what to buy/sell and when to move my stops. Free when you join The Sandpit.


Until Fridays weekly scan.....
bye for now
Sharon

Scans week ending 1 August 2008

Only one signal this week to short LEI. The industrial sector is below its 30 week WMA so that's a goer.

______________________
Stopped out of AWE yesterday for my full $500 risk. HATE it when that happens.

________________________
Stops to be move on ALL, GUD ILU and XDJ

Market open 28 Jul 08

Moved my stop on IVC to $6.79. Now I'll only lose $430 (roughly) if the trade goes pear shaped.

Can't short AQP because my heat will become greater than 8% as per my trading plan.

You shouldn't be trading if you haven't got a trading plan. It protects your capital. The first goal of trading MUST be to protect your capital.

Want to read my long term trading plan? Then subscribe here and download it from the download page.

Scans week ending July 25 2008

Two possible trades this week.

AQP short
CGF long

CGF eliminated because it's in the Financial sector which is currently trading below the 30 week WMA and the signal was to go long.

AQP meets my criteria for entry because the materials sector is trading below it's 30 week WMA and the signal is to go short.
________________________________________________

IVC is trading at a new low so my GSLO will be moved to $6.79. My favourite thing to do is to move my stops.

_________________________________________________

Please know that I do not recommend that you trade the way I do. You need to develop your own trading plan that you can stick. to.

Should you copy my trades?

The answer is NO!

For starters I am not a trading guru. My knowledge of technical indicators only extends to moving averages, average true range and candlestick patterns.

Your psychological make up is most likely totally different to mine. Can you handle seeing huge variations in your open profit each day? Could you resist exiting a position if it is showing a substantial profit? Are you likely to think that losing trades will eventually turn to winners? Being successful at trading requires that you do not become emotionally involved with your open positions. The most common emotions when trading is fear and greed. Both are fatal to traders.

The only time trades should be exited is when your predetermined price points are hit. No ifs, no buts. If you blindly follow all my entries and exits we will never have identical results even if we do have the same psychological approach.

Why? Because my predetermined exits are based on the price I pay for my entry. It is highly unlikely that we would pay the same price for an instrument (cfds in my case) so obviously our exit points would therefore be different. This can make a huge difference because your stop may get hit forcing an exit, while my trade may be allowed to continue ultimately returning me a substantial profit, while the exact same instrument may return you a small loss.

The trading plan I use is available to members of The Sandpit. If you are interested in trading a similar system to me, or if you want to modify my system to better suit your own psychology and goals you are more than welcome to do that.

The only reason I am putting my trading diary online is to prove that if I can generate an income stream doing trading then any one can do it!

Welcome to my online trading diary

I currently trade a long-term weekly system, buying Australian CFDs on stocks listed in the ASX200. On the last day of each trading week I update my data, check for buy/sell signals and manage my stops.

On the first day of the next trading week I change my stops and exit any open positions for which I have been given a signal as soon as possible after the market opens.

At least half an hour after the market opens (and before it closes) I enter any new positions for which I have received a signal.

Anyway, my current portfolio contains the following CFDs and whether I am long or short. If you are not clear on what being long and being short are, you need to sign up for my newsletter called The Sandpit and you'll automatically receive my trading plan (as soon as I get it published on the internet) and it will explain all.

By the way, this blog and The Sandpit newsletter are aimed for beginners, hence the name, The Sandpit. There are also other benefits of becoming a member such as product discounts.

APN News & Media Ltd - Short
Aristocrat Leisure Ltd - Short
Australian Worldwide Exploration - Long
Consumer Discretionary (A$2 Contract)- Short
Crane Group Ltd - Short
CSR Ltd - Short
DUET Group - Short
Flight Centre Ltd - Short
GUD Holdings Ltd - Short
Iluka Resources Ltd - Long
Invocare Ltd - Short
Just Group Ltd - Short
Macquarie Infrastructure Group - Short
Pacific Brands Ltd - Short
Paladin Energy Ltd - Long
Qantas Airways Ltd - Short
Resmed Inc - Short
Seek Limited - Short
Tatts Group Ltd - Short
Transpacific Industries - Short
United Group Ltd - Short
Wesfarmers Ltd - Short
Woolworths Ltd - Long

I wish you success with your journey towards wealth creation.