This week I found to be the toughest week to turn a profit in a substantial period of time. Having said that I still managed to bounce back from sitting in the red after mon tues wed, to ended back in the green at close of business Friday. Also had Internet issues Monday which really didn't help the cause. As I had to move to another location to attempt to trade.. Not ideal!
FWIW I haven't had a red week in over 6 months. For me it's a great result and I would be interested in others results. I'm more of a weekly target trader, sure monthly is worth noting, but my aim is to hit my weekly target.
So why was this week (and you can add last week to the mix), so difficult to make the profits? For me the first few days of this week had profit taking and limited volatility. It wasn't until the end of the week when the overseas makets got hammered that I was back in my element and turn some serious profits with some great bounce trades.
My trade of the week. 20k GXY@ 1.12 and 15k @1.14. Out @ 1.235 avg.
I'm not sure if what I have written is designed for this thread but it might be of interest.
Bought plenty of other stocks Friday. Be interesting to see if I'm rewarded given the green night in the US on Friday night. Seemed to be factored in though.
