I had targeted entries at $14.00 and $13.50 to open long positions which were both hit on Aug 12th. A double position. I know I could have watched the intraday and had a better average entry but that is not the point with my trading plan.
Keeping it simple and to not be required to do any chart watching during the day is my goal. I have done a lot of daytrading and the like and, while it can be lucrative, it can be stressful as well.
Exit profit targets were at $15.00 and $15.50.
The first was hit in a few days for the $1.50 per share goal.... 11.1% in 5 days, nice but trades this short are not not always typical, although there were a number that were less than 10 days. I like those for obvious reasons.
The second target was hit on September 24th with an intraday high of $15.52. Another $1.50 profit and 10.7% gains.
The entire trade lasted 43 days.
Over the entire study period this stock was not a great performer using my plan but it was consistent, and that is the primary goal. More consistent stocks over the longer term leads to more relaxed and profitable trading.
STATS for CVA:
9 first entry trades 8 winners
2 second entry trades 2 winners
$12.50 per share gains (using 100 share trades that is $1250 for the period from June1, 2009)
Total days in any trade 325 of 483 possible
I ran the trades at $1,000 per trade initially and rolled the profits right back into the next trade to provide compounding returns. Allowing for the commission structure at Questrade of $4.95 per trade (I just rounded up to $5 for ease of math) the $1,000 would now be $1,931.
That is a 93% net profit. While consistent, it is well below the average.
Having said that, had I just bought and held the stock on June 1, 2009 at the average daily price of $14.24 it would be at $15.41 now. The gain of $1.17 represents an 8.2% profit.
Jeff.
No comments:
Post a Comment