Trading Summary Week Ended 26th March 2021

49 Trades:

1 AAL + 35 BPS.

48 UK100 + 234 BPS.

34 long trades  + 237 BPS.
15 short trades + 32 BPS.
47 intra-day trades + 192 BPS.
2 multi-day trades + 77 BPS.

Total trades net  + 269 BPS.

Return on account for the week + 6.51 % net.

P:L ratio 25:1.
Days traded: 5.
Longest trade duration: 1 Day min.
Shortest trade duration:  < 1 min.
(All PNL expressed in basis points for the purpose of comparison.)

Thoughts

Another volatile week on the equity market.

The markets were weaker early in the week, with the FTSE testing 6650 on Monday and then again on Wednesday, before dropping to 6618 on Thursday and then rallying on Friday. Crude oil was very weak on Thursday, which clobbered the commodity stock which are a large chunk of the FTSE.

Difficult trading conditions, so mostly very short term trades, but generally, the sharp dips were bought. I missed a few great trade entries, and sold closed the AAL position way too early.

 

Well over my 2.5 % benchmark.

 

I thought I'd post a chart here...

This is a five minute chart of the FTSE (Forex.com, not the cash) on Tradingview.com.

The red and green horizontal lines mark the high and low of the 30 minutes from 07:30 London time.

You can see how the FTSE dropped back after 10am, but found support at the early high marked by the green line.

I have noticed that these levels frequently form support or resistance later in the trading session.

A few years ago I wrote an indicator for MT4 which draws the levels, and recently I did the same in the Tradingview.com language, Pine, as shown on the top chart. 

On strong trend days, the index will often test these levels before decisively break one of them, the trick is to catch the break and run with it.

I used to use 8 am as the start time, but I have found 7 to be better, if you watch the FTSE futures chart, the volume really kicks in at 7 am, I also have the same indicator set for 8 am as well (8 am is the cash open in London).

This is the same five minute chart in MT4, if the price is above the green line, the text changes to 'Upside break' and shows the distance of the break in basis points, same with the red line:

I would put the same text on the Tradingview indicator, but I haven't worked out how to do that at the moment.

The concept of the thirty minute levels is not mine, I got it from a book written by Jake Bernstein, several years ago now. I think there are a few videos on Youtube describing the strategy. It's very simple, but then some good ideas are simple.

Looking forward to more opportunities next week.

Stay disciplined.
Stay focussed.
Stay humble.

Trading Summary Week Ended 19th March 2021

      

56 Trades:

56 UK100 + 186 BPS.

36 long trades  + 176 BPS.
20 short trades + 10 BPS.
51 intra-day trades + 126 BPS.
5 multi-day trades + 60 BPS.

Total trades net  + 186 BPS.

Return on account for the week + 4.53 % net.

P:L ratio 6.99:1.
Days traded: 5.
Longest trade duration: 8 days.
Shortest trade duration:  < 1 min.
(All PNL expressed in basis points for the purpose of comparison.)

Thoughts

A pretty volatile week on the equity market.

Again, over the pond both the S&P 500 and the Dow made new all time highs.

The FTSE was weak on Friday, after crude plunged on Thursday evening. The FTSE broke below 6700 very briefly in the opening minutes, and later expiry was pretty volatile. A hard day, all in all.

Over the week, the FTSE lost 53 points, or 0.78 %.

Made a few very poor exits, leaving plenty of profit on the table, but still ahead of my 2.5 % benchmark.

 

Looking forward to more opportunities next week.

Stay disciplined.
Stay focussed.
Stay humble.

Trading Summary Week Ended 12th March 2021

     

37 Trades:

1 AAL + 11 BPS.

36 UK100 + 209 BPS.

29 long trades  + 206 BPS.
8 short trades + 14 BPS.
35 intra-day trades + 155 BPS.
3 multi-day trades + 65 BPS.

Total trades net  + 220 BPS.

Return on account for the week + 5.27 % net.

P:L ratio N/A.
Days traded: 5.
Longest trade duration: 4 days.
Shortest trade duration:  < 1 min.
(All PNL expressed in basis points for the purpose of comparison.)

Thoughts

Another volatile week on the equity market.

Over the pond both the S&P 500 and the Dow made new all time highs, while the FTSE struggled above 6780, and currently stands at 15% off the all time highs.

Made a couple of very poor exits (especially on AAL), but still well ahead of my 2.5 % benchmark.

 

Looking forward to more opportunities next week.

Stay disciplined.
Stay focussed.
Stay humble.

Trading Summary Week Ended 5th March 2021

     

37 Trades:

1 BHP - 79 BPS.

36 UK100 + 52 BPS.

24 long trades  - 43 BPS.
13 short trades + 16 BPS.
31 intra-day trades + 149 BPS.
3 multi-day trades - 176 BPS.

Total trades net  - 27 BPS.

Return on account for the week + 2.20 % net.

P:L ratio 1.35:1.
Days traded: 5.
Longest trade duration: 17 days.
Shortest trade duration:  < 1 min.
(All PNL expressed in basis points for the purpose of comparison.)

Thoughts

A really difficult week on the equity market.

The FTSE finished the week up over one hundred and forty points, but Friday was very volatile, with the opening hour testing the 6560 zone.

The US markets seemed to be very nervous, as rates on the ten year bond crept upwards. Crude oil was strong, which tends to be bullish for the FTSE, given the size of BP and RD Shell in the index.

I made a profit despite the negative results in terms of basis points, since the BHP trade was very small.

Well short of my 2.5 % benchmark.

 

Looking forward to more opportunities next week.

Stay disciplined.
Stay focussed.
Stay humble.