Saturday, March 6, 2010

Mar 1 - Mar 5 completed trades

6 profits, 2 losses - +15.47%
Average Profit - +2.77%
Average Loss - -1.19%

Total account up 10.38% YTD (after commissions)

Open Positions: NEP, DUG (~65% cash)

I did not trade much this week, though one would certainly think it to be the other way round, looking at the above table. LCC, NR, DLTR, WFMI were all positions I held from last week but closed this week. Why do I feel the need to clarify that? Well, in last week's review, I had mentioned that my problem with that week was I had overtraded, so this week I made a conscious effort to be more patient and am pretty pleased with how that turned out. As you the regular readers of this blog know, patience is certainly not one of my strongest points, in fact one might even call it the weakest link in my trading. But since this impatience is not only a trading trait but very much a part of my personality, there is not much I can do to control it. With something like this, it becomes important to adjust your trading style instead and do what you are most comfortable with. For me, that means cutting my losses very early as I know I am not the guy who is guying to have 20% winners very often. But overall, I am pretty pleased that I showed some patience in my trading this week, at least in waiting for setups to develop. 

I am seeing some other interesting patterns in my trading by studying the weekly reviews since I have started writing this blog. If I am right, this will call for a major adjustments in my trading. But I want to see how the rest of this month plays out, before discussing and making these changes. A part of me is, why fix something that ain't broke?? We shall see.....

I will be back later this evening and tomorrow with the market review and what to expect next week and also a list of some potential breakout set ups for next week.

Take care and enjoy the weekend!


1) The table shows only completed trades of the week. The positions that are still open will be accounted for in the week that I close them.
2) The YTD calculation includes the open positions. I just take my account value at end of Friday and calculate it. So, it also includes commissions which do matter a lot to a small account like mine.

Which other blog reports results after commissions? :)

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