May 6th, Weekly Trading Summary

Let's take a look back at the week.

Real Money Account.

I made a long entry on April 27th that I decided to manage according to a swing trade model rather than my typical day trade strategies.

I held this trade with a $2,100 stop and a target at 2394.75 for a week watching the market go sideways and nothing happening. There were many opportunities to take it out for a small profit, but I stuck to my plan until late Friday afternoon.
I decided I did not want to hold that position over the weekend and despite the market looking like it could rally I anticipated a late day sell off into the weekend.
I was also concerned about the French election effect.
Another factor was the opportunity cost.
Because I was holding this position I did not make any of my open trade this week.
That cost me at least $500 on the week, I do not want to be on the same position next week.
So, I pulled my stop down to just below the day high and took it out at 2390.75 with a $200.00 profit on the trade.
Shortly thereafter the market rallied, BO and tested the historic highs closing at 2397.00.

What can we learn from this.
1. Make a plan and stick to it
2. You cannot predict or anticipate the market, you can only react to it
3. You will never be 100% right in trading
4. Be grateful for every profitable trade
5. Trust yourself

Here is an equity chart of the Real Money Account since we started trading it on Feb 24th, 2017.


Simulation Account
I did pretty well in the simulation this week with a consistent profit each day despite some tricky market conditions.
Friday was clearly the most challenging day of the week.
Next week I am going to get a bit more aggressive and start trading 2 contracts instead of 1 to see how that impacts the overall strategy.




This is an equity chart of the Simulation Account since starting on January 8th, 2017
 

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