Welcome to Stock Wise-Week #8-08/24/09 Thru 08/28/09

I believe that greatness is measured by small gains. I am an equities trader. My trading goal is to achieve one to two percent per week I have a sixty one percent success rate. My average return on investment is .50% per $100,000.00. I have no problem going short or long; however since stocks tend to go down faster then they go up most of my trades will be bearish. I am a technical trader. I only trade one to maybe four major chart patterns. These patterns occur on a regular basis. Most trades are only held for one day. Sometimes I will hold the position overnight. The reason for holding the position overnight is because I sometimes take advantage of the gap that happens in after hours trading.

Each week I will post at least one trade. I will post the chart and my recommended action via long or short before the next days open. I will also post the results of that trade along with a running total of my gains and losses. I know that posting one trade a week is very hard, but it takes discipline to accept your winnings and live with your losses. It takes a lot work to set up one trade for the week. I start my set up for the week on Friday and finish just before the market opens on Monday most weeks. I have other trades that I put on, and I keep a traders log for everything I do. These are available for those who are serious about working together in this very lucrative business of stock trading.


We feature real time quotes, and videos and streaming financial news.

Real time data for entries and exits: My E*TRADE Account.
Brokers Fee: $9.95


Starting Balance: $100,000.00
This week’s goal
Amount: $112,582.68

Trade Week: #08
Current Balance: $114,193.00
Trade date: Monday 08/23/09
Trade #01 of week #08

Amount traded Approx: $55,729

Reason for the amount: Always keep at least 25% of your cash. Trade Opportunities may come present themselves, or an unexpected loss may occur.

Analyses Steps:

01. Long term direction-Bearish
02. Short term direction-Bearish
03. Above or below MA’s-Below all in order.
04. Upper and lower trend lines-Upper trend line is at $1.65 and lower trend line is at $1.44
05. Support line, and Resistance line- Resistance line is at $1.70. Possible major Support at
$1.60
06. Previous day’s candlestick-A complete bear candle.
07. Volume-Average
08. Momentum-Appears to be peaking.
09. New lows, or New highs-N/A
10. After hours trading or Pre-market-N/A
Score: 08-50% cash for Blog

Session Stats
SYMBOL: NBS
COMMENT:
STOP LOSS: 1.70
ENTRY POINT: $1.63
EXIT POINT: $1.55
Account Value: $114,193.00

REASON FOR ENTRY: I believe the play is bearish. Wait for Con., at the open. If it opens below the resistance line go short. Set Stop, 2% above price. Target price is $1.44


Order type: Market
Successful trade: Y
Bullish trade:
Bearish trade: Y
Loss:
Profit: $
% Gain: 5.2
% Loss:

Shares Traded: 34,190

REASON FOR EXIT: Profit taking.

Was weekly goal reached? Yes