The only way I can think of to describe last week is, “Actively uneventful.” There was a good amount of activity, but no big trades. Really, no big mistakes. Unless you count a series of small mistakes as a big one. But the good thing for you reading, is that you can be entertained by reading my adventures in what not to do. I know it’s self-deprecating, but I’m just being honest and I don’t know any other way to be. I’m just not hitting right now. The good thing is that I have a long way to go and I’m always looking forward. Specifically, failing forward because very trade I make I’m exposing myself to failure. And each one, even if I lose is a learning experience that I can write about here. So let’s talk through the week and have some fun second guessing:
- Monday – The market opens up and stays up. Until about 1:30 when it tanked. So how that looks for me was I bought the following during the good part of the day: ORCL, TRV, AXP, PFE and STX. Obviously, what were small gains the first part of the day were erased by the drop. If ever a day to tighten my stops in the green, Monday was the day. How is that for being patient and not selling gains too soon? We’ll talk about it in another post. At the end of the day, I was ahead a grand total of $4. Uneventful!!!
- Tuesday – Market started up. Then dropped before recovering again. I was patient and waited for the recovery to buy GILD, AXP and AMGN. All of which had a few small gains going. Then I bought MRK, which is the trade I shouldn’t have made. Then there was a small drop at the end of the day so I finished down about $50. No thanks to MRK, Uneventful!!!
- Wednesday – Market was sideways all day and eventually finished down a bit. So I sat out. Uneventful!!!
- Thursday – Market was up. I bought AAPL. Never got in the green on it and ended up selling it at the end of the day for a $40 loss. Uneventful!!!
- Friday – The market was sideways most of the day. But I was feeling a little anxious to try to make something happen. I don’t recommend doing this. So I bought STX, which started good. But if you remember the market turned so I ended up selling for a small loss. Normally, I would call it there, but I was obviously feeling a little aggressive. So I talked myself into shorting EA. I don’t recommend talking yourself into trades either. So the market goes up and by the end of the day I lost about $100. I don’t have a hard and fast rule against playing both sides of the market the same day, although I don’t do it often, but Friday was a day to just leave well enough alone. Obviously I wanted to make it more exciting.
So there is my week. Actively uneventful!!! I was actively trading to lose about $200. The result is that my huge win streak of 2 is over and I have ground to make up. Looking forward to this week, the only thing I know is that I’m going to take what the defense gives me and attempt to catch the corrections I’ve been looking for so stay tuned. As always feel free to comment below and tell me what you think. Also, don’t forget to share this so your friends can be as entertained as you are. And follow me on social media so you can be more thoroughly entertained between posts. Finally, have a most profitable week!!!