Ericsson-trading intraday: Update and closing the trade

Friday, December 9, 2011

Update and closing the trade

Not sure we will see so much more decline in ERIC today. Entered the short position at 67.75 and then the price went up a little just before it bottomed at 67.20. I just closed the position at 67.55.

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About

This is a (b)log about daytrading in Ericsson class B shares on the Stockholm Stock Exchange. The goal of each trade is to try to capture a large portion of the intraday trend thereby minimizing trading costs as this implies fewer trades. During recent years daytrading in Sweden has become harder due to increased presence of algo-trading firms that distort trading for many daytraders. The methods of used here aims at decreasing the risk of being tricked by the algo firms. The trades are based on technical analysis balanced with an assessment of the market sentiment of the day. The author has experience from the finance industry including work at high frequency trading-firm. Further info