53 Stock Trades:
4 AAL - 332 BPS.
7 BLT + 331 BPS.
7 BP - 169 BPS.
8 FRES + 630 BPS.
2 GLEN + 275 BPS.
1 MCRO + 11 BPS.
1 RR + 77 BPS.
3 STAN + 185 BPS.
20 UK100 + 496 BPS.
14 long trades - 8 BPS.
39 short trades + 1512 BPS.
34 intra-day trades + 1121 BPS.
19 multi-day trades + 383 BPS.
Stocks net + 1504 BPS.
Return on account for the week + 5.23 % net.
P:L ratio 5.5:1.
Days traded: 5.
Longest trade duration: 190 days.
Shortest trade duration: 1 min.
(All PNL expressed in basis points for the purpose of comparison.)
Thoughts
Another sell off on the equity markets. The FTSE made a new low for the last few months at 6885 on Thursday, just above the March 2018 low, before rallying back to 7000. Then the market sold off again on Friday afternoon to make a new low for the year.
Both BP and RD Shell fell over 7% on the week, that's a big chunk of the FTSE. The big banks HSBA, BARC, RBS, LLOY and STAN were very weak too.
A very difficult week's trading. Fifty - three trades is a record for 2018 for me, a very busy week.
I left a lot of money on the table closing shorts early though. The negative net result for long trades says a lot about the state of the market at the moment - shorts were the way to go this week, any rally is being sold very quickly. I do think we could have a strong rally soon though.
Twice my weekly 2.5% benchmark, even though I made some poor trade entries and exits.
Hoping for some decent trading opportunities next week.
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