Clipper Ship Trades: December 2011

Monday, December 19, 2011

Sold Singtel @ 3.14

Singtel sold for a small gain. This is a scratch trade.

Sunday, December 4, 2011

Bought SingTel @ 3.09

Cut loss at 2.99
Quick trade, exit on any reversal candlestick pattern.
Extreme target 3.4

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My Trading Approach

Risk management is paramount. I risk 1% (defined here as R) of my trading capital on any ONE trading idea (It could be anything, really! For instance, maybe, I dreamt of a rotten apple, so I find some instrument that allows me to short AAPL ). I use stop losses to limit my risk to 1%.
The trend is my friend, so one of the first things I do is determine the primary trend and stick to it.
My approach is to buy near support preferably after it shows signs of rebounding. Similarly, I short near resistance preferably after it shows signs of falling. Sometimes I go for breakout setups with specific stocks.
I go for a reward/risk of at least 3:1 in my favour. Otherwise, I do not take the trade.