Well that was quite a difficult week for trading and i feel quite pleased to come out with a small loss of around £-50.
The uptrend continuted in force, even shrugging off the poor non-farm payroll figures on Friday to finish strongly.
It's hard to say what will happen next week but you wouldn't like to bet against further gains, even though we are now well into areas of heavy resistance for the Dow and FTSE in particular.
A mixed week in some respects. The positives were limiting myself to trading only FTSE in the morning then Dow in the afternoon. I managed to retain my discipline throughout the week apart from one occasion where i was then punished.
I think i also had a bit of bad luck. On Wednesday i made a big loss but my FTSE stop was just taken out by 1 point, if it had survived a loss would have become a decent winner. Sometimes you need luck.
On that day i had the chance to close or reduce exposure in the trade, but was not decisive enough. The alarm bells were ringing to me but for some reason i did not follow my head, and left the trade open.
I did allow my maximum daily loss to be broken as well, which is a worry and must not be allowed to happen again.
The other area i need to improve is to let my profits run. I was pleased to bank some gains on Thursday after the horrors of Wednesday but i felt deep down there was more to come. I could have at least left some of the long to run.
Lets come back from Monday, after a rest, and improve focus, and hopefully have a winning week.
Cumulative profit since 1st July = £117.
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