OK, here's a chart of the move on BP today. I closed my long rather early. Red & Blue lines are the 1st 30 min high & low. 30 day low on BP was 443.35, low today was 443 .35.... Who says price doesn't have memory ?
Summary Week Ended Friday 2nd August 2013 12 stock trades: 4 BARC + 172.20 BPS 2 BLT + 26.46 BPS 5 BP + 56.29 BPS 1 RDSA + 10.81 Stocks net + 265.76 BPS Long and short trades, all intraday. No Index trades. I traded 4 days this week. Thoughts A quietish week. My premature exits on BP cost me quite a lot of missed profit. Miners were fairly quiet this week, BLT traded in a pretty narrow range, with resistance above 1920 and support around 1865. Still a profit is better than a loss. Here's the BP chart: Stay disciplined. Stay focussed.
Summary Week Ended Friday 9th August 2013 14 stock trades: 4 BLT + 40.51 BPS 4 BP - 1.94 BPS 4 HSBA + 100.59 BPS 1 RDSA + 20.79 BPS 1 STAN + 42.46 BPS Stocks net + 202.41 BPS Long and short trades, intraday and overnight. No Index trades. I traded 5 days this week. Thoughts A tricky week' trading. My poor enties on BP meant I basically got out at break even on that stock. HSBA was better, although I should have gone long again when I spotted that it was likely to find support near the 200 DMA, which it did (see red line on the chart). Miners finished the week very strongly, and I missed a few nice long entries in that sector. Volumes were light, I guess some people take holidays at this time of year..... I also had ADSL connection problems, with the line going down every few mins on Thurs/Friday. Well below my 500 BPS weekly target, but still a profit is better than a loss. Stay disciplined. Stay focussed.
Summary Week Ended Friday 16th August 2013 13 stock trades: 2 BG + 22.22 BPS 7 BLT + 70.24 BPS 2 STAN - 1.20 BPS 2 RDSA - 31.11 BPS Stocks net + 60.15 BPS Long and short trades, intraday and overnight. No Index trades. I traded 5 days this week. Thoughts A very tough week, I was fortunate to end the week with a small net profit. We saw a fairly steep sell-off on Thursday following weakness on Wall Street. Very premature exits on STAN longs on Friday morning meant me missing a lovely rebound (see chart). Hopefully I will trade better next week. Stay disciplined. Stay focussed.
Summary Week Ended Friday 23rd August 2013 19 stock trades: 12 BLT + 3.56 BPS 1 BP + 9.12 BPS 1 RIO + 8.05 BPS 4 STAN + 88.82 BPS Stocks net + 109.55 BPS All long trades, intraday and overnight. No Index trades. I traded 4 days this week. Thoughts Another tough week, still a modest net profit. BLT was a difficult trade this week, after results came out on Tuesday morning, and I barely broke even on it. We saw a lot of volatility on Wall Street this week, the ES tested the 1650s and then sold off very sharply (see chart). Next week is a shortened week on the LSE due to the Monday bank holiday. Stay disciplined. Stay focussed.
As I said at the start of this journal, I have been doing this for a while. I have been going back over my old trading records and have been looking at my trading for the month of July 2003. Back then I was trading bigger size, something I need to build up to again. Back then I would build a position in a stock, knowing that I was never going to buy the low or sell the high. Having quite a bit of equity in my account allowed me to do this. Anyway, here are the figures: Trades 104 Winning trades 91 Cum BPS 3304 Weekly Net BPS: Week 1 +1243 Week 2 + 19 Week 3 + 967 Week 4 + 754 Week 5 + 320 Total Profit £6520.72 Total Loss £363.87 Net Profit £ 6156.40 P:L Ratio 17.92:1
Summary Week Ended Friday 30th August 2013 4 stock trades: 2 BLT + 26.67 BPS 1 BP + 4.48 BPS 1 STAN + 32.86 BPS Stocks net + 64.01 BPS All long trades, all intraday. No Index trades. I traded 3 days this week. Thoughts A short week due to the bank holiday on Month. Thin trading, I'm hoping we will see an increase in volatility when September arrives. For the month of August, I am up 473.39 BPS net. P:L ratio was 2.70:1 I made 53 trades, with 42 wins and 11 losses. I missed a fair number of trades, and some of my exits were pretty poor (I need to run profits more aggressively). Stay disciplined. Stay focussed.
I don't trade the SPX, but I do pay attention to it, as it is a pretty good measure of the overall US equity market. Daily chart still in the wedge....
Summary Week Ended Friday 6th September 2013 9 stock trades: 6 BLT + 51.87 BPS 1 MKS + 22.33 BPS 2 STAN + 25.86 BPS Stocks net + 100.05 BPS P:L ratio was 10.05:1 Long and short trades, all intraday. No Index trades. I traded 5 days this week. Thoughts A more volatile week, although Monday was a holiday in the US so the LSE was quiet-ish. The US payrolls drove the markets up initially on Friday, but they reversed shortly after, maybe spooked by what President Putin was saying regarding Syria. Still a modest profit for the week, although well below my 500 BPS weekly target. It's nearly 4pm (UK time, I'm an hour ahead of that) on Friday afternoon, so I'm going to call it a day here. Stay disciplined. Stay focussed.
Summary Week Ended Friday 13th September 2013 12 stock trades: 1 AAL + 7.69 BPS 10 BLT + 77.21 BPS 1 STAN + 12.53 BPS Stocks net + 97.43 BPS P:L ratio was 2:1 Long and short trades, all intraday. No Index trades. I traded just 2.5 days this week. Thoughts A short week, the technician from Orange was round to fix my broadband router, but it's still not right (experiencing random disconnections, not nice when holding a position), so hopefully that will be fixed early next week. Some poor entries meant that my weekly net was nothing special, at least it was on the positive side. Stay disciplined. Stay focussed.