After a brief hiatus I'm back with another Trading Week in Review for you guys! For the most part I've been keeping up with the daily trading recap videos on our YouTube page but I realize it's been a few weeks since the last full weekly review post here at our STA trading blog. I blame the beautiful summer weather as it's made it hard to find much time to stay home and put these together on the weekends!
Anyway, as we come into the end of July I'm quite happy with the overall results this month. Volume has been quite low, particularly since things calmed post-Brexit, and price has been working its way into fresh all-time highs thanks to good employment numbers at the start of the month. Yet even though volumes are down and we're definitely in the middle of a slower summer trading environment there's still be plenty of opportunity to be had.
The last week of July was no exception as I ended it with +15.75 points of profit on 15 trades (10 wins and 5 losses). That's a very solid weekly result as far as I'm concerned and especially so when you take into consideration the lower volumes and smaller daily price ranges. Had I traded Monday as well it could have been an even better result and there were some opportunities for more profit that I missed out on throughout the week but there's no use fussing over what could have been.
What matters is how I traded when I was in front of the screens, how well I followed my trading plan, and that I managed my risk effectively. As I review my results I had a passing grade on all those counts so that's a very positive week for me even before I take profit/loss into account. Good execution first, results second!
The Trading Week in Review Video
This week there were a few key lessons I thought were worth sharing and I've covered them in some detail in the video below. They include not fearing the possibility of a losing day, the fact that markets whipsaws can occur but that you don't want to change your approach in sheer panic when they do, and that it's crucial when you have a good trend to trade it to its conclusion, so check out the video for more on those topics!
If you're interested in a daily breakdown of results and my trading decisions then you can also view some of the daily recaps below: