Trading Summary Week Ended 15th May 2020

36 Trades:

1 AAL + 214 BPS.
1 BP + 26 BPS.

3 GLEN + 4,105 BPS.
31 UK100 + 2,192 BPS.

9 long trades + 126 BPS.
27 short trades + 6,411 BPS.
24 intra-day trades + 318 BPS.
12 multi-day trade + 6,219 BPS.
Total trades net + 6,537 BPS.

Return on account for the week + 2.53 % net.
P:L ratio N/A.
Days traded: 5.
Longest trade duration: 495 days.
Shortest trade duration:  1 min.
(All PNL expressed in basis points for the purpose of comparison.)

Thoughts

Another volatile week on the equity markets.

The FTSE started the week fairly in a fairly bullish mode, trading as high as 6012 on Tuesday, but then sold off sharply into Thursday, breaking down to 5661, before a bounce on Friday (which was expiry). Over the week the index lost 136 points, or 2.29%.

The mining sector was very volatile, this is a seven day chart of the FTSE mining index, showing Thursday's sell off and Friday's rebound:

A challenging trading environment for sure.

A busy week, just met my 2.5% weekly benchmark, I made a few very poor trade exits, mostly on the short side, which accounted for 75% of trades made.

I'm not at all sure the lows are in for equity markets for 2020.
Unemployment claims in the US were pretty dreadful, and I don't think our economies are going to recover very quickly even when the lock downs are over.

Our lock down here was eased this week, a very welcome development. Travel is now limited to 100 km, but the border with Italy remains closed for now.

Looking forward to getting out and about this weekend, and to more trading opportunities next week.

Stay disciplined.
Stay focussed.
Stay humble.