Welcome to Channellines!

Channellines 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.


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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!

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