Moves to a new box, but the 30w EMA is still below the 60w EMA. The two are quite close from crossing.
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The 30w EMA is now above the 60w EMA.. Still dancing in the R197 – R218. I’m placing a limit slightly above the. 220.42 multi week high at R220.50 with a stop for the moment at 204.43.
This may change as time lapses. I might adjust my stop and accordingly change my position size as well.
Account balance :R7232
2% maximum risk: R144.64
Entry: R220.50
Stop loss: R204.43
Risk per share: R16.07
Quantity: R144.64 / R16.07 = 9
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Position
Average entry: R72.50
Stop loss: R99.02
Quantity: 4
Risk: +R106.08 (+ 1.46%)
We have a nice bullsh flag on Distell. As the stock moves to the R111 – R124 box from the R99 – R111 box. We have a nice bullish flag breakout
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Position
No position in the market
Absa moves to the R122 – R148 from the R96 – R122. However, the 30w is still below the 60w EMA.. Waiting for those to cross first. Before I can take any trades.
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Position
Average entry: R271.10
Stop loss: R258.57
Quantity: 8
Risk: -R100.24 (- 1.38%)
The stock is currently just dancing in the R265 – R 303 box. Waiting for a to break the R303 – R345 box. I’m placing a buy entry at 306.80, just above the R306.78 multi week high. With a stop loss at break even at R271.10 for now. This may change, I may move the stop loss and adjust the position size accordingly
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The stock is moving to the R150 – R167 box from the R127 – R150 box. I added to my position at R150.99, pulled my stop to R134.75
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Position
Average entry: R49.25
Stop loss: R47.22
Quantity: 47.3
Risk: -R96.02 (-1.32%)
The stock has been moving nicely currently in the R44 – R52. We are looking to add to my position as the stock moves to the R52 – R56. At the moment R48.62 looks like a good place to put my stop. Which will reduce the current risk exposure to about R30 (0.4%) of my balance. Giving me freedom to add an additional 2% risk to the trade.
Position
No position in the market
The stock had a strong day on a on Friday closing inside the R680 – R792 breaking out of the bull flag. I wanted to enter the trade on the break. However the stock ran away from me, I was going to add into the position as it moves to the R680 – R792 box. I’m going to take the trade market open on Monday.
Trade mechanics
Account balance :R7232
2% maximum risk: R144.64
Entry: R680.4
Stop loss: R615.54
Risk per share: R64.86
Quantity: R144.64 / R16.07 = 2.2
Position
Average entry: R207.69
Stop loss: R208.89
Quantity: 7.4
Risk: +R8.88 (-0.12%)
The stock is currently flirting with breaking to the R250 – R282. Waiting for a close above R251. and I will trail my stop to R223 which would break even for my last trade in the stock. This will protect the overall R113 (+1.6%) of my balance. Giving the freedom to risk 2% of my balance.
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Account Summary on 06 March 2021
Capital invested: R9 000
Current Balance: R7 232.64 -19.64%
Current Equity (Balance including paper P&L): R11 612.58 29.03%
Current P&L : R4 379.94