Welcome to Channellines!

Channel lines started as a pure technical analysis site based off traditional technical analysis of trendlines and their paired parallels. All technical analysis patterns and principals are based off channels (inclining and declining trading ranges) and their interaction with other channels of different slope or time frame.

I took it one step further. The "why" behind technical analysis! Why does it work, why does it not work? Is there a better way to play the markets and be more consistantly correct and profitable? There sure is. All based off the principal of providing liquidity, or taking the "other" side of the trade.

This site is now taking a different direction, we (my trading partner(s)) and I, are using this site more as a trading journal. We will list our positions, in part, and discuss various topics and thoughts throughout the trading day. I encourage the learning process, not relying on a crutch to help you with your trading. The primary purpose of the blog will be just a place for us to write down ideas and thoughts, not to educate (although we will, some), not to assist in your acquirment of monetary gain, but a place to interact with other market participants. My name is George Swanson, also know as Winace. My trading partners/account owners are present, I will allow them to present themselves and reveal whatever of their identity they are comfortable with. Enjoy the trading day, I wish you the best in your market journey.


Friday, December 12, 2008

10 Trade update

I am out on 6 trades of the 10. All six booked profits, the most recent transaction were the POT exit at the open and the addition of another tier to HBI, apparently people were requiring new underwear!

The reamining 4 positions are net even. the 6 exited trades had an average return of 25% on the capital utilized. The total capital "in the market" had only reached 15% of what was allocated, the maximum tier was tier 4, by both POT and AEM. AEM had moved against me by 10% after entry, accumulating 3 additional tiers. As you can imagine, these trades covered the worst case scenerio imaginable.... a decline, or incline of 60%! Even being stopped out then, the loss would be roughly 35%.

The curreent positions still open are (of the original 10)

ALOG +13%
FDX -7.69%
MMM -16%
RTP +7.5%

Enjoy the rest of the trading session!

Posted by Winace at 12/12/2008 11:23:00 AM
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