Trading Summary Week Ended 16th December 2022

24 Trades:

24 US 500 + 107 BPS.

18 long trades - 470 BPS.
6 short trade + 577 BPS.
20 intraday trades + 160 BPS.
4  multi-day trades - 53 BPS.

Total trades net  + 107 BPS.
Net points + 42.1.

Return on account for the week + 0.55 % net.

P:L ratio 1.3:1.
Days traded: 5.
Longest trade duration: 9 days
Shortest trade duration: 1 min.
(All PNL expressed in basis points for the purpose of comparison.)

Thoughts

Another very challenging week on the equity markets.

The main event was the CPI data release on Tuesday, which came in a bit lower than expected, leading to huge rally on the futures, which was pretty short-lived.

The ES futures hit 4,140 after the data release, but the high on the cash market after the open was just 4,100.96. Obviously a lot of short positions got stopped out on that move.

We then had the Fed rate announcement on Wednesday evening, and as expected, the Fed raised the rate by 50 BPS. There was quite a bit of volatility following the rate announcement, and the press conference.

On Thursday and Friday the equity markets dropped quite a bit, the SPX testing the 3,830s on Friday. It seems the markets didn't like the Fed's hawkish comments, the ECB and the Bank of England also raised rates on Thursday, which probably didn't help sentiment.

Tricky trading conditions, well below my 2.5 % weekly benchmark. I should have traded more on the short side.

Hoping for more opportunities, and better results next week.

Stay disciplined.
Stay focussed.
Stay humble.