This week was pretty positive, though not as profitable as I would have hoped coming off of last week’s losses. Let’s examine it a bit.
I traded 3 days this week. I passed on Monday, and had lots of things to do Thursday which kept me from watching the markets too closely. Even so, I still made 8 trades. So, that’s two weeks now that I’ve been able to get my per-day trade count up. Last week, that resulted in losses. This week, I showed I can up the trade count and still make money. In a post I’ve been promising you all forever, I’m going to show that making more trades is the only way to statistically assure myself that I will consistently make money. That’s why it’s been such a focus for me.
The main reason I didn’t have a record week was that I was really jittery about holding onto winning trades. I like Ugly’s idea about at least holding onto half the shares, and may see about incorporating that. I just know for certain that holding onto all my trades is not a good idea until the markets get less strained and overbought. New highs and new lows just don’t run far enough for comfort before reversing. Most of my losses this week were caused by buying new highs that immediately stalled out.
The table:
| Total P/L: | 1.01 R |
|---|---|
| Trades Taken: | 8 |
| Winners: | 5 (62.50%) |
| Expectancy: | 0.13 R |
| Biggest Winner: | 0.7 R |
| Biggest Loser: | -0.4R R |