August 26th, Weekly Summary - Real Money Account Profit $141 / Sim Account Profit $3,795

The Week in Review

This week was less volatile than the past couple of weeks with more sideways movement and market consolidation, people taking  breather after the big swing we say previously.

This made for some very good trading days.
Unfortunately we were stuck in a Plan B situation with the Real account and could not capitalize on them.

However, watching the market and considering a new Plan B strategy in the Sim account may have led us to a Flipping Technique that strikes a balance between the original and the variations we tested over the last few weeks.

We end the week holding 6 contracts short at an average price of  2428.54.
We are well within the 50% retracement striking level and have shifted the target into the bottom of the trading range so are well positioned for an exit next week.

This week saw a settling down of the high volatility of the past two weeks.
We can expect a bit more of this as the market digests these events.

Our prognosis is for the market to decline into October before resuming the up trend.

Flipping & Recovery Strategy (Modified 21/08/17)

Going back to the Plan B Concept for Flipping failed trades and recovering losses.

The fundamental  logic of this strategy is to recover the losses of a previous trade, not making a profit.

The guidelines are as follows:

1. The trigger event is when a trade does not follow,

2. The trade is flipped in the opposite direction taking the required number of contracts to recover the losses with a one point target,

3. If flipping requires more than 5 contracts ( this happens if the market runs away or if there are consecutive losing trades) we revert to Plan B.

Plan B guidelines:

Hold the position and add contracts strategically as the market runs away from the entry point to maintain a break even that is within a 50% retracement level between to last low and high of the current market cycle.

The maximum number of contracts to be added is 5 for a total position of 10 contracts.

Look for W or Support & Resistance trade signals for entry points to add contracts.

Adjust the target as necessary to near the new break even as contracts are added.

Wait for the market to come back and hit the adjusted target.

Real Money Account

We ended the week holding 6 short contracts.

Closed out trades for the week gave us a profit of  $141.

We are looking at a new Flipping technique that appears to strike a compromise between out original technique and the ones we have recently tested.

We checked this technique against the data and market activity and if used it would have put us in a position to exit the trade with a profit on any day of the week but Friday.

We made a couple if entries on Friday using this Flipping strategy.
The market never moved enough to meet our target, but we are in a good position for next week and will continue to implement this Flipping technique until we have closed out this trade.

Real Money Account Charts

Not much equity growth this week.
But, I think we learned something about money management and the market this week when considering our Flipping techniques.

Still struggling trying to get back into a smooth trading sync like we were earlier in the year.
With  only $141 in the bank this week we did not add alot to our goals and did not make the $400 per day target we set for this week.
Next week we will be looking to do better and make that $400 per day target.

S&P 500 E-mini Sim Account

Slight modification to the Flipping technique for the Sim account.

The Flipping and Recovery Strategy in the Sim account is slightly different than the Real Account.

In the Sim account we will test taking the first signal in each reversal in the direction of our position until we reach a maximum of 10 contracts.

We ended the week with a profit of  $3,795.

So, a pretty good week.

Sim Account Chart

Had a good week in the Sim account. The equity curve is back on track and growing nicely.