Trading Summary Week Ended 14th October 2022

59 Trades:

59 US 500 + 648 BPS.

41 long trades + 57 BPS.
18 short trades + 591 BPS.
54 intra-day trades + 584 BPS.
5 multi-day trades + 64 BPS.

Total trades net + 648 BPS.

Return on account for the week + 1.9 % net.

P:L ratio 3.9:1.
Days traded: 5.
Longest trade duration: 12 days.
Shortest trade duration: 1 min.
(All PNL expressed in basis points for the purpose of comparison.)

Thoughts

A volatile week. I traded the SPX quite a bit, we saw some decent moves but I was mostly scalping. I scalped 210 points on intraday moves. I made some VERY poor trade exists, especially longs on Thursday when the market tanked (easy to say in hindsight)..

Interestingly, 44 of the 53 intraday trades were entered during the pre-market session. I believe that traders based in Europe may have an advantage here, since the pre-market offers some good entry levels, (of course US - based traders can just get up early, my earliest entry was around 6 am London time, that's 1 am in New York...) 

On Thursday, CPI data broke at 14:30 London time, and the futures markets dropped very sharply, before staging a huge rally after the cash open. The SPX  broke below 3,500 for a time, the intraday move was 193 points, for the Nasdaq the figure was 647 points, and the Dow a whopping 1507 points.

Here is the SPX:

 

The week was also made more difficult by some PC problems, right at the wrong time.

Well short of my 2.5 % weekly benchmark despite the decent intraday trading, as I was trading smaller size due to the volatility.

Hoping for more opportunities next week.

Stay disciplined.
Stay focussed.
Stay humble.