December 10 & 11, 2008 | The Chartist

ASX Commentary

December 10 & 11, 2008

Fri, Dec 12, 2008

We added a short position in MYL on Wednesday evening and another in CIB last night. Unfortunately we also got whipped with an outside bar in PNK which is always a risk when searching for low risk entries. These do occur from time to time but are rare and should be considered a normal part of trading.

We have a few more short setups awaiting tonight.

Trades executed on Wednesday and Thursday:

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Click to enlarge

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Click to enlarge

Our account remains with over A$5,000 in profits since October 1st – not a bad return on $231 worth of subscription for the period. We reiterate that we’re only using 0.5% risk, well below the standard 2% used by others.

Our account balance as at close of business Thursday:

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Nick Radge - who has written 898 posts on The Chartist.

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