9 Stock Trades:
6 AAL + 115.34 BPS
3 BP - 1320.85 BPS
5 long trades: - 1279.47 BPS.
4 short trades + 73.96 BPS.
Stocks net - 1205.51 BPS
5 intraday trades, 4 overnight.
I traded four days this week.
Return on account for the week - 18.47 % net.
No Index trades.
Thoughts
A terrible start to September trading.
I got hammered by BP after they lost a US court ruling. I had closed a part of the position on Thursday morning for a small profit, but held the rest as the chart showed strength and I thought it might test the 50 DMA at around 490. It was trading around 487.50 at the time, having tested 488.80.
Then the news hit and the stock fell very quickly, too quickly to get out (didn't help that I was distracted by something else at the time).
So annoying that I could have closed the remainder of the position flat... I was only looking for another 2p..
This is my first losing week on stocks since Oct 2013. And it hurt.
I will have to give this some thought over the weekend. The irony is that I had never lost money on a BP position before Thursday.
We saw some volatility on Wednesday when a ceasefire was declared in the Ukraine conflict. The ES futures made new all time highs @ 2010.5.
Stock changes for the week:
Stay disciplined.
Stay focussed.
Stay humble.
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