13 Trades:
1 AAL + 137 BPS.
1 BHP + 187 BPS.
1 BP - 559 BPS.
1 FRES + 297 BPS.
9 UK100 + 142 BPS.
11 long trades + 217 BPS.
2 short trades - 13 BPS.
5 intra-day trades + 47 BPS.
8 multi-day trades + 157 BPS.
Total trades net + 204 BPS.
Return on account for the week + 1.18 % net.
P:L ratio 7.1:1.
Days traded: 5.
Longest trade duration: 70 days.
Shortest trade duration: 6 min.
(All PNL expressed in basis points for the purpose of comparison.)
Thoughts
Another quiet week.
Equity markets were range - bound for most of the week, miners were strong, then on Wednesday RIO warned on its iron ore production, and the sector sold off sharply (over 540 points on the FTSE mining index, NMX1770).
Crude oil was strong following more news from the gulf, the US claiming that a drone was shot down by Iran. Gold also broke above $ 1400 on Friday morning for the first time in a few years.
A poorly timed trade exit on BP spoiled what could have been a decent week.
Once again short of my 2.5% weekly benchmark.
Looking forward to better trading opportunities next week.
Stay disciplined.
Stay focussed.
Stay humble.
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