4 profits, 3 losses- +4.23%
Average Profit - +1.72%
Average Loss - -0.88%
Total account up 7.39% YTD (after commissions)
Open Positions: NEP, VXX, MGM, ADBE, OCLR
It looks like a decent week at first glance but it was anything but. As you can see, my overall account is down from last week, mainly due to MGM and NEP positions. The bottom line is I shouldn't have traded at all in the second half of the week. I was in no way emotionally stable to partake in an activity such as trading where the control of your emotions plays such an important part. Due to some news I received on Wednesday, I was angry and frustrated and I am afraid, I took it out on my trading account. Trading seemed very insignificant to what was happening in my life at this point and I did not keep my stop in MGM. At that time, I couldn't care less about it. And now its coming back to bite me. I fully deserve it. Enough said.
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.
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? :)