Closed Trade : TGR

My rule for the stop Losses, is that it takes two closes below my stop to close a trade, but after 16 days I want to place a hard stop with the broker at the initial stop loss point from when I placed the trade.  Generally in a decent market any good trade will not hit that point after it has been running for 16 days, so it's just another way of weeding out the baddies.  TGR falls into the category of black hat wearing bad guys!

This trade can best be described as 'difficult'.  TGR was in a decent trend when I bought it, but the overall decline in the index dragged TGR into sideways action.  The day prior to having the hard stop placed with the broker TGR had a big decline.  

I placed my hard stop at the low of that day which was well below anything that might be considered optimal.   TGR then dragged along for a further month and a half or so but was positive enough that I was able to grind the hard stop up to the initial stop position.  This almost immediately tagged. Unfortunately by the time I allowed for the cost of carry, the loss was 1.22 R rather than 1.0 R

Chart courtesy of www.IncredibleCharts.com
click to enlarge

That was the last of the four trades I opened in November, so now I can calculate the November results.

I have just one trade open which I bought in October (ANN_AX).  I mentioned elsewhere that personal circumstances mean I can't continue trading this method at this time so I intend paper trading a fully disclosed trend trading model to continue the blog for the immediate future - watch this space!