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NRG Trading

NRG Trading - Pending Set ups

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I have decided to keep track by using a dummy $25,000 account, but I will be trading these set ups myself and using my entry & exit prices. Will keep a spreadsheet for this blog.

I will be using a max of 1% (not including brokerage) as my risk for position sizing but I may risk less on certain trades for various reasons.

I will be using some margin/CFDs but to make it easier for this blog I won't be taking interest costs into account.

My normal brokerage is $10.00 but due to recent events it will be $20.00 for the next 30 days or so.

Alright my first set up is CTX.
Now this is quite an aggressive set up but I'm looking for some follow through tomorrow.

Entry is on a break above todays bar @ $11.91 with a limit set @ $12.01 & stop under todays low @ $11.21.

CTX @ $11.91 x 250 w/stop @ $11.21. Target is $15.00 (slightly optimistic I know but will intially be looking for a break above $13.00 and then will try to prymid if price action is favourable).

A few notes - if no follow through tomorrow but an entry is triggered I will look to tighten the stop to reduce some risk. Once stop is moved to break even stop will be left to trail a bit to give it room to try to capture as much of the move as possible (provided it does move in the right direction) but I will be looking to take profits @ $15.00.

I'm reducing the intial risk due to the aggressive nature of this trade, but will look to prymid as stated.

All other pending trades won't be this detailed - will just list the code, entry & stop price, the amount to be brought and a target.

May go into more detail with the trades if they are triggered and move in a favourable direction.
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Updated 27th-September-2008 at 02:37 AM by nomore4s

NRG Trading


  1. nomore4s's Avatar
    Trade for CTX has been taken @ $11.92 x 250.
    Stop will be moved to todays low on review tonight.

    Also had another 2 trades triggered today which I didn't post in the pending due to coming up after I had posted on the blog.
    BSL @ $8.30 x 400 w/stop @ $7.69. Target @ $9.50
    Risk $0.61, reward $1.20.
    With such a small R:R and the fact it is in such a strong downtrend and has some strong resistance @ $9.00, I will be pretty aggressive with the stops until I can get it to breakeven.

    DJS taken just before close today @ $4.52 x 610 w/stop @ $4.11 - Signal was a close above $4.45 and once it looked certain to close above that level I entered. Trying to capture a new trend with this one, will pryamid if given the opp. Target somewhere around $6.00.

    Probably more trades than I would like to take on the same day but........
  2. nomore4s's Avatar
    Pending trade for 26.09.08
    JHX @ $5.63-$5.65 x 600 w/stop @ $5.24, T @ $7.00.
  3. nomore4s's Avatar
    JHX trade cancelled for the time being
  4. nomore4s's Avatar
    Another 200 CTX taken today @ $12.70 with stop @ $11.89, but may move the stop up depending on the close. Total risk now for both CTX parcels is currently around $250.00 w/stop @ $11.89
  5. nomore4s's Avatar
    Pending set ups for Monday.

    JHX is back on.
    JHX @ $5.41-$5.45 x 625 w/stop @ $5.05 - T1 @ $6.50 T2 @ $7.00
    Will be looking to ride a medium term trend to hopefully $7 but may stall at $6.50 - Will run a trailing stop.

    JBH @ $12.79-$12.85 x 325 w/stop @ $12.09 - T1 @ $15 T2 @ $17 (new highs).
    Looking to join in trend to hopefully new highs but will be happy with anything over $15.00. Will be a trailing stop, will try to give it plenty of room.
    While I've got an aggressive entry on this one I quite like the look of it. A less aggressive entry could be on a break of $13.20 @ stop @ $12.14
  6. nomore4s's Avatar
    JBH trade triggered @ $12.85

    JHX order cancelled again.

    All positions looking like they are in a bit of trouble tomorrow.
  7. nomore4s's Avatar
    All trades stopped out today.

    Will up date blog when I get time


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