Discussion in 'Journals' started by Pekelo, Jul 15, 2006.
Long from 1279
Selling at 1280.25 a 1.25 gain
Short from 1284.75
Covering at 1282.75 a 2 points gain
Short from 1283.25
Covering at 1281.25 a 2 gain
My long term indicator is on sell mode, but I expect high volatility after the 14:15 FOMC announcement, so I am planning to short when there is a spike....
Shorting at 1286
Covering at 1280 a 6 points gain
Edit: As I mentioned, I am bearish, but I have to go somewhere and I am not able to monitor the position, thus I covered...
Looks like there was another spike up that ended up in a selloff. The day ended just 1.5 lower where I sold, so I didn't miss much.
Let's have a summary here. The fund is up 64.75 ES points with 16 winning trades in a row. In % that is 5.18% because about 12.5 ES points is 1 %. (SPX started the year at 1248)
When I started less than a month ago, the SPX was at -1 YTD and now it is at +2% so it advanced 3%. My fund advanced more than 5%, so in less than a month I already outperformed the market by 2%.
Since there is a built in 2% coming from the CDs, I could easily stop trading and just be in the market for the rest of the year, because that 4% extra that I have could easily take care of the timedecay (about 15 ES points from here).
So, if I am able to outperform the market with such a simple strategy in such a short time with a 3rd grade education, how come that half of the funds underperform the markets???
Separate names with a comma.