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    Friday, August 29, 2008

    What charts to use?


    Today's post will be a quickie. Traders constantly search for the "edge", and I get many questions about how my charts are set up. The attached chart on Lehman's 20+ Treasury Bond Fund (TLT etf) is the only chart I used to initiate my recent short. Simple, eh?

    The better aspect of trading to focus on is your risk tolerance, which has a direct effect on position sizing. Readers know I'm relatively risk averse, as I keep my overall total portfolio risk per position to 1%. Many times I've debated increasing my risk %, but this seems to work best for me, as my trading accounts again hit all time highs yesterday (briefly), before pulling back a tad.

    I'm not too far from my profit objective on Gold, but it looks like I'll have to hold through the weekend. With regard to the bond trade, I'm less comfortable, as they continue a relentless move higher. The risk/reward, however, is greatly in my favor. The bond trade has less likelihood of working, but also a much higher potential payout. Let's see what happens!

    Being such low volume today, it's a great time for some entertainment:


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