July 22nd Weekly Summary - Real Money Account Loss -$3 - Sim Account Profit $3,187

The Week in Review

We ended the week in the same position as we started with 6 contracts short.

The market  went sideways on Monday and Tuesday giving the appearance that it would pullback.
But, we caught another rally on Wednesday making new highs.
Thursday was a sideways day with a higher high and a higher low than the previous day, but closed about at the open.
Friday showed some weakness with the first lower high, lower low and lower close we have seen since the start of this rally.
We will see on Monday if this is just a Friday sell off or the precursor to our anticipated pullback.

We will continue to manage this trade looking for a good spot to rake on more positions ant get our break even within striking distance from the current market activity.

If successfully close this short position our day trade target is $350.

Real Money Account

We ended the week holding the same 6 contracts short that we went into the week with.
I contemplated taking additional positions on Friday, but chose to wait for a more clear indication of the market pullback.

We took a small loss on the week of $3.00 due to the carry costs on the contracts and with a paper position of -$10,895.00 on the trade.

Our current break even point is 2430.00 which is just below the 62% Fibonacci retracement level.
I would like to get this a bit higher and may take some additional positions if the market gives a sign it will retrace.

Is a wait and see scenario.

Real Money Account Charts

This trade has no impact on our account value until we close it out.
But the ROR is going down because we are out of the market.

We are getting behind the curve.
























Bonds Trading Day of the Month (TDOM) Simulation Trading

Closed out 2 Bond trades this week for a profit of  $1,937.
The chart illustrates the potential growth in equity trading according the the TDOM method from the start of the year.
The money management rule is to trade 1 contract for each $10,000 equity in the account.
We traded 2 contracts briefly when the account went over $20,000, but are back to 1 since the recent drawdown.
If things go well over the next couple of weeks we should be back to trading 2 contracts.


S&P 500 E-mini Sim Account

I had a good week in the Simulation account making  $3,187 in four trading days.
Took Friday off to attend my daughters graduation.

I have also change the way I am using the Sim Account.
Since it's main function is for research and my current problem is how to avoid getting stuck in trades like I am now, I have made some changes to the way I will trade in the Sim Account.

Starting on the 20th of July the rules are as follows;

I will start all trades with 1 contract.

I will limit myself to a maximum of 5 contracts when flipping out of a failed trade.

Instead of implementing Plan B I will stop out the trade at the Flip Trade entry point, take the loss and start over.

I want to see how this will impact my equity over time.

Will it be more profitable in the long run to stop trades out?

OR

Will it be a losing strategy.

We only find out by doing the research.
We will see the impact in our equity curve as we go forward.

Sim Account Chart





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