Highlighted Trades - 04/04/2024
We saw 9 trades across 7 tickers from our system today - 2 long and 7 short.
Our most profitable trade today - and one of our best overall - was a short on BLDR. We made 1.43% here, without any re-entries. The results here really speak for themselves - this trade performed beautifully. While momentum is visibly sideways before our entry, it picks up almost immediately after we enter the position. I would have taken this, but I would have exited a bit early had the momentum not picked up so strongly. Overall, this is really the gold standard of what we’re looking for - in terms of both conditions and overall performance.
Our biggest loser of the day was ISRG - we lost 0.20% across 3 entries. Overall, I like our initial entry. All of our signals are present, momentum is strong, and MACD is steadily increasing. I feel that our first loss is largely the result of bad luck; some trades simply don’t work out, regardless of how good they look on paper. Our re-entries, however, are more interesting. I feel that, overall, we could have made a profit here. First off, we re-enter rather late for position #2. This is intentional on behalf of our system - we like to be picky on all positions. The downside to that is that we sometimes wait longer than we should on a re-entry, missing out on some potential profit. Were I trading this manually, I would have re-entered 2 candles earlier, given how hard the price action broke through the Tenkan-Sen resistance. As for the 3rd position: I don’t think I would have taken it at all. By the time we get that signal, momentum is fairly sideways in the short-term: a warning sign that a new entry could be stopped out fairly quickly. And as it happens, that was the exact result we got.
The last trade I want to highlight is this short on STZ. There were no re-entries here, and we made 0.55% on the position. This is another extremely strong entry. All of our signals lined up here, including visual chart analysis. We get the short signal right as the price is breaking past a previous resistance point, which further strengthens the signal. Even though we’ve had more profitable trades, we haven’t had many stronger entry conditions than this. I can say emphatically, I would have taken this any day.
That’s all I have for you tonight - thank you for reading, and happy trading!
