The iPackages of Trading Apple Section is Entirely Dedicated to intraday and dailly trading of the Mighty Apple ($AAPL) Shares.
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Jean-Pierre Desloges, CFA
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Those Trading Notes Explain my Approach to Trading Apple Shares as shown in my Apple Intraday Comments
Basic Trading Principles:
- Identifying supports and resistances are the key in trading.
- Must always put a stop loss in any trade.
- 80% of the time, the market is in a trading range behavior.
- 20% of the time, the market is in a break out mode behavior.
By Establishing the kind of trading environment we are into ( range or break out ) and knowing in advance the supports and resistances
will gives us a huge edge on the market. It is not obvious to determine the Trading Skewness ( range or breat out mode ) even with a lot a experience but some factors ( trend of broad market, key technical levels reached, volume spiking, ... ) are some elements that helps me on that subject. It is happening so fast that only well prepared traders can grab that volatility.
The iPackage Apple Intraday Comments Template Explained
On the Apple Intraday Comments Template above, we find:
- Supports and Resistances that can trigger a buy or a sell: example:
14.15 NEW LEVELS
Resistance at $102.35 if broken then $102.58 if broken then $102.72
and support is at $102.22 if broken then $102.05 if broken $101.84
- Trading Skewness that shows in what kind of trading environment we are: in a trading range or a break out ? ( Upper right side )
In our example above, we are into a range trade pattern with $101.84 support and $102.58 resistance. Only breaking those levels will put us in a break out mode.
It is crucial to know if we are in a trading range mode or a break out one.
A trading range mode will be a slower and more strucutured one with more predictive turning points.
A break out mode can be a lot impulsive and bring new technical levels. It is why we should be more careful when trading those especially going against the break out trend.
- If I am into a position, it will show on the upper left side ( now showing a no position status ).
When I take a trading position, by default, my stop loss is always the nearest support or resistance ( depending if I bought or sold )
but very quickly it becomes the entry point level of my position ( cost ). If I do not have a quick satisfaction on a trade ( either in price or time ), I will get out by being stopped out or getting out because no momentum in that trade.
If my call is good and the trade becomes into a profit, then my stop loss will change and becomes a PTS ( Profit Trailing Stop ).
The more the trade move into a profit ( price and time will tell ), then I shift my PTS accordingly.
That way I protect a minimum profit target and still play the upside of that trade.