Trading Summary Week Ended 21st February 2020 12 Trades: 3 BP + 352 BPS. 9 UK100 + 55 BPS. 8 long trades + 53 BPS. 4 short trades + 354 BPS. 9 intra-day trades + 56 BPS. 2 multi-day trade + 351 BPS. Total trades net + 407 BPS. Return on account for the week + 0.18 % net. P:L ratio N/A. Days traded: 5. Longest trade duration: 64 days. Shortest trade duration: 1 min. (All PNL expressed in basis points for the purpose of comparison.) Thoughts Another difficult week on the equity markets. Made a couple of very premature exits, especially after the FTSE tested the 7350 zone on Tuesday morning, it then rallied to 7462. Crude oil found a bid after the recent weakness. Well below my weekly 2.5% benchmark. Looking forward better trading opportunities next week. Stay disciplined. Stay focussed. Stay humble.
I think he just uses it as his trading diary as opposed to sharing a trading approach. It's more for his benefit than any passing reader.
Fair enough but the figures don't make sense , he's extremely profitable , every week , loses maybe one in ten or something , better than just about any hedge fund , and yet returns are pitiful. He professes to use lines fibanacci or s/resistance , I,m sure can be made pfofitable , but at that percentage in a casual ish manner ? but as I say the main anomaly is the tiny tiny return he makes . Previousley I asked why and Mo said margin was lower on cfd's these days , true , but even without any margin at all using anywhere near full amount of account value in a cfd account would produce far greater variability ( good or bad)?
Trading Summary Week Ended 28th February 2020 38 Trades: 1 BHP - 199 BPS. 1 BP + 479 BPS. 1 GLEN + 403 BPS. 1 MTRO + 246 BPS. 34 UK100 + 2032 BPS. 1 long trade + 15 BPS. 37 short trades + 2946 BPS. 25 intra-day trades + 938 BPS. 13 multi-day trade + 2023 BPS. Total trades net + 2961 BPS. Return on account for the week + 3.96 % net. P:L ratio 26:1. Days traded: 5. Longest trade duration: 458 days. Shortest trade duration: 1 min. (All PNL expressed in basis points for the purpose of comparison.) Thoughts Another very volatile week on the equity markets. Markets sold off sharply, after seemingly ignoring the Corona virus situation for weeks. The FTSE made a new low for 2020 on Monday, and then broke below that on Tuesday, Wednesday, and lower again on Thursday and again on Friday when it broke 6500, taking the weeks losses to more than 900 points. Later on Friday it bounced to finish 823 points down for the week (11.12%), quite incredible really. The Dow lost more than 3500 points. Crude oil again was also very weak. Unfortunately, I think the Corona virus will now spread worldwide, it's already in Europe with new outbreaks in Northern Italy, a worry as the Italian border is a mere 30 km from here. A better week's trading for me, mostly on the FTSE, nearly all shorts, and above my weekly 2.5% benchmark. But it was an an exhausting week. For the month of February, I made 67 trades for a net return of 4.22%. A very challenging month. Looking forward to more trading opportunities in March. Regarding Henry's comments above - I just report the numbers here in this journal. FYI, the numbers were as follows: Starting balance : £ 35,670.96. Profits: £ 1,469.34. Losses & costs; £ 56.45. End balance: £ 37,083.86. Total value of contracts traded: £ 239,286. Stay disciplined. Stay focussed. Stay humble.
Thanks Mo , I'm not trying to give you a hard time , the accounts you give are consistant with the inconsistancies. From your journal you seem highly profitable, and yet nearly quarter of a million traded for a profit of fifteen hundred , despite most of your trades winning. Surely you can see where I'm coming from ?
Trading Summary Week Ended 6th March 2020 35 Trades: 1 AAL + 84 BPS. 1 BP + 232 BPS. 34 UK100 + 1941 BPS. 1 long trade + 2 BPS. 34 short trades + 2255 BPS. 27 intra-day trades + 1013 BPS. 8 multi-day trade + 1244 BPS. Total trades net + 2257 BPS. Return on account for the week + 3.58 % net. P:L ratio N/A. Days traded: 5. Longest trade duration: 398 days. Shortest trade duration: 2 min. (All PNL expressed in basis points for the purpose of comparison.) Thoughts Another sell off week on the global equity markets. Indices rallied on Wednesday afternoon, after the Fed announced a surprise 'emergency' rate cut, but this was quickly sold into. The fact that the Fed is so worried is not a very bullish sign to me. The ongoing Corona virus situation is really producing some selling pressure in the equity markets, odd that it took so long to register (in my opinion). On Friday the FTSE broke last Friday's low for the year, below 6450. The situation in Europe is getting more serious, and many sporting events have been cancelled, including this the Strada Bianche one day cycle race this weekend sadly. The Paris - Nice may also be cancelled I believe. A decent week's trading for me, 97% shorts, all rallies were sold into, well above my weekly 2.5% benchmark. Expecting more volatility next week. Stay disciplined. Stay focussed. Stay humble.
Well your returns are now very good only 0.18% for week ended 21.2.20,but last week 3.58%, almost 20 times the return.