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.


Wednesday, December 10, 2008

New positions.

Recap for the day.

I went long the following today:
ALOG
ERTS
FDX
MMM
USO

I went short:
ADBE
AEM
NOK
POT
RTP

During the course of the day, I added once each to FDX, POT, and RTP.

At the close, ERTS tripped it's reset level and exited the trade. 16.67% gain.
The remainder of the trade basket is as follows at the close:

ADBE -1.45%
AEM -.99%
ALOG +13.08%
FDX -4.23%
MMM +1.53%
NOK -8.33%
POT -13.37%
RTP -5.47%
USO +0.00%

I will be adding in a declining stock to fade. This will replace the ERTS trade.

Have a good night!

blog comments powered by Disqus