Trading Summary Week Ended 11th November 2022

 

34 Trades:

34 US 500 + 386 BPS.

28 long trades + 392 BPS.
6 short trades - 6 BPS.
33 intraday trades + 264 BPS.
1 multi-day trades + 122 BPS.

Total trades net + 386 BPS.
Net points + 149.

Return on account for the week + 2.89 % net.

P:L ratio 29.7:1.
Days traded: 5.
Longest trade duration: 1 day.
Shortest trade duration: < 1 min.
(All PNL expressed in basis points for the purpose of comparison.)

Thoughts

Another week on the equity markets.

We had the US elections on Tuesday, in which the Republicans didn't do as well as some predicted. Markets were range bound, with the SPX trading just above 3,800, support in the 3,740s, resistance around 3,840.

Then on Thursday we had the CPI data release, and the equity markets exploded upwards, with the Nasdaq up over 7 % on the day, the Dow up over 1,200 points and the SPX up over 5 %, breaking above 3,950 and touching 4,000 on Friday.

I was scalping the SPX, made some poor exits, just above my 2.5% benchmark. I really should have just bought the dips and let them run.

Hoping for more opportunities, and better results next week.

Stay disciplined.
Stay focussed.
Stay humble.

Trading Summary Week Ended 4th November 2022

20 Trades:

20 US 500 + 43 BPS.

19 long trades + 5 BPS.
1 short trades + 38 BPS.
19 intraday trades + 43 BPS.
No multi-day trades.

Total trades net + 43 BPS.
Net points + 16.

Return on account for the week + 0.49 % net.

P:L ratio 2.6:1.
Days traded: 5.
Longest trade duration: 350 min.
Shortest trade duration: < 1 min.
(All PNL expressed in basis points for the purpose of comparison.)

Thoughts

Another difficult week on the equity markets.

The main event of the week was the US Fed rate increase and press conference on Wednesday.

 

The equity markets initially rallied on the news of another 75 BPS cut (exactly what had been expected), then sold off heavily, especially after Powell started speaking.

 

I've noticed the markets often fall when he opens his mouth, maybe some trading programs do this automatically.

 

I think he has done a terrible job as Fed chair, allowing US inflation to get out of control they way it has.

 

I'm sure a decent computer algorithm could do a better job of setting interest rates, and would be far cheaper.

 

I didn't trade the Fed announcement.

Not a great week, although still positive. Again well short of my 2.5% benchmark, although I was distracted by having work done at home (a new hot water tank being fitted).

 

Still following the rules I outlined last week, so no trade entries after the US market open, no net short positions. I will continue like this and monitor my progress. 

 

Hoping for more opportunities next week.

Stay disciplined.
Stay focussed.
Stay humble.