My trading plan week 2

New year new plan. One of my goals is to look at more charts every week this year. The more charts I see the better I can pick the good ones. If there are a lot of good charts setting up I will be more aggressive in my trades. If not, it indicates the market is not healthy and cash or shorting will by on my mind.

Currently I feel that the markets are risky. Therefore I’ll try being more cautious and use smaller position size.

I’ll try to post some of the charts I find interesting. I might trade them or not. I’ll try not to trade anything else.

Portfolio gain/loss so far this month:
-9,84%

I’ll try to never have a month with more than 10% loss again. I think it’s vital for my mind and my portfolio. Now I’m near so I use very small positions and won’t add until they are profitable.

Notes about my charting

I still feel I’m pretty new with charting and that I learn new things all the time. I’m at the stage where I’m trying to simplify everything and use less indicators. My stops are mental ones and will depend on position size (and therefore portfolio risk), how good my entry was and if I’m able to be ready to sell or not.

For example a 10% position size with a 10% stop loss gives a 1% portfolio risk in theory (0.1 x 0.1 = 0.01 = 1% of portfolio). There can be gap downs and times I’m unable to sell especially with crypto.

B means Buy/Bought
S means Sell/Sold
A means Add
A at the right side of a line means that I’ve set an Alert.

For a better view most images can be opened in a new window/tab by right clicking on them.

Crypto

I’m watching BTC closely. Needs to hold support. This tweet from Aksel Kibar sums up my view.

ETH broke through the daily 200 MA clearly. Went through my stop. I sold half of my long term position. Might reenter near the 365 MA.

SOL. I like SOL. Held the 200 MA in July. I added to my position today. It’s underwater but as long as it holds the 200 MA it looks good.

DOT. Not as good as SOL. Below both the 200 MA and 365 MA. I have a small position but I’m out if it keeps dropping.

North American stocks

MRO. I missed an entry on breakout and retest. I might enter if it drops back down. Strong sector.
SNOW. I might enter here or on breakout.

Nordic stocks

NOD. It’s at the lower support. I’m thinking about buying a little after I post this post. Easy to have the stop just below.

Leave a Reply