Friday, April 29, 2011

April 24 - The Week in Review

I really was not looking to have as good a week as the one before but at the very least I wanted to make some pips.  Breaking even is no longer acceptable.  In the end, I think we did pretty good.

After last week's 11.7% gain, our account started this week at $3,662.92.  This week we closed several trades for a profit of $368.09.  That's a 10.04% return in one week.  Two double digit weeks in a row, awesome!  Even nicer, we have four open trades for an additional $667.45.  That would put this week's profit at $1,035.54 or 28.27%.  However, since we haven't closed those trades I will not count them for my official weekly profit.  Thus, for the week of April 24 I am recording a profit of 10.04% with our account standing at $4,031.01

We were able to produce this awesome result by using a mix of short and long term strategies using Bollinger Bands and Ichimoku Kinko Hyo, as well as playing the F.O.M.C. announcement.  Can we have another 24% week again?  Not likely.  Well, maybe.  A big part of our profit came from playing the F.O.M.C. Statement and interest rate announcement.  This release occurs every quarter so maybe three months from now we can do it again.  On Monday, the Institute for Supply Management releases the Purchasing Manager's Index.  I wonder if we can make a similar play with this announcement.

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