Sunday, November 11, 2012

Week 6: Thank God it is Over!

Week 6 was the roller coaster ride from Hell.  On the good side, I didn't have a heart attack so my arteries must have cleared up a bit. 

So week 5 ends with my account up 80.39%.  By Monday afternoon, the account is up 101%.  By Monday evening I'm visiting different internet sites to see which power boat I'll be buying next year.  Then came Election Day...  Obama won...  reality hit the markets...  The account that was up 101% on Monday was barely up 64% Wednesday evening/Thursday morning.  I did say in my last report that I was expecting the market to triple play me, but knowing beforehand does not make it any easier to swallow.  In the end, the account recovered most of its losses and ended down 2.08%.  Since I was way ahead of schedule last week, this week's loss puts me behind schedule by very little...  0.52% or $5.41.

I was very impressed by the way most of my strategies managed to recover their losses, except for one.  The strategy I trade off the daily chart gave me the biggest losses this week, after 5 weeks of picture perfect trades.  I think the price action created by the volatility of Election Day week was just too much for my inexperience.  I should have followed the lead of more veteran traders and just held off from trading at all last week.  Now I know for 2016.

Starting Capital:        $1,040.73
Current Balance:       $1,838.31

Performance:        76.64%

Week    Performance
  1                13.14%
  2                17.71%
  3              - 10.54%
  4                18.62%
  5                27.63%
  6              -   2.08% 


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