NG : NovaGold Resources Inc.  |  Long
Trade Plan

Downward momentum seems to have played out.

Price is near -3ATR, bullish divergence in MACD, MACD-H has turned up, FI hit -3ATR and turned up.

Let's see if we can grab a position at todays low tomorrow with a tight stop.

Note! Price of this stock is on the low end, so position size reduced to half.

Daily chart:

Trade History
26 Jun 2013 | 13:45
Entry   Quantity: 10,000  ⟩  Price: 1.94  ⟩  Target: 2.08  ⟩  Stop: 1.90

Got filled almost at low of the day (which was 1.93). Bullish MACD-H divergence still in play.

28 Jun 2013 | 17:09
Exit   Quantity: 5,000  ⟩  Price: 2.06  ⟩  Target: 2.08  ⟩  Stop: 2.04

Explosive move out of the gates this morning. Selling half here to protect profits and have set new tight stop on remaining half of position.

Will monitor closely from here.

29 Jun 2013 | 01:22
Exit   Quantity: 5,000  ⟩  Price: 2.09  ⟩  Target: 2.10  ⟩  Stop: 2.08

Position closed on tight trailing stop to grab profits here as I don't want to hold over the weekend.

Review

21 Aug 2013 | 15:26

Did I follow my trade plan and strategy?

Yes. Good discipline.

What did I do right and wrong?

Very well executed trade but should probably have tried re-entry where annotated on chart below for a low-risk entry when bottom was re-tested. 

Overall Analysis

Captured a good part of the upmove - good trade with a nice 6.43% quick profit.

Chart as of Aug 20th 2013:

 

Comments

Comments
Trade Plan Summary
Plan Date
25 Jun 2013
Name
NovaGold Resources Inc.
Direction
Long
Strategy
Divergence MACD + FI
Checklist
Not fully checked | View
Broker
Interactive Brokers
Quantity
10,000
Planned Entry
1.93
Target Price
2.08
Protective Stop
1.90
Total Cost *
19,400
Potential Profit *
1,400 (7.22%)
Potential Loss *
401 (2.07%)
Reward/Risk Ratio *
3.49
Actual Trade Summary
Quantity
10,000

# Entries
1
Entry
26 Jun 2013 | 13:45
Entry Price
1.94

# Exits
2
Last Exit
29 Jun 2013 | 01:22
Avg. Exit Price
2.075

Commissions
100

Net Profit
1,250 (6.43%)
Labels
Bullish setup near -3ATR Overall market: S/T bullish Exit: Target hit
Key Figures
Highest high during trade
2.11
Lowest low during trade
1.90
MAE
2.1%
MFE
56.1%
ETD
1.7%
Entry Efficiency
81%
Exit Efficiency
83%
Total Efficiency
64%
Up-to-date price chart
View chart

NG : NovaGold Resources Inc. - Long
  • Entry date: 26 Jun 2013 | 13:45
  • Entry price: 1.94
  • Last exit: 29 Jun 2013 | 01:22
  • Average exit price: 2.075


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