How To Completely Change Your Trading Results

 THE WEEK

The 52-week high is proving to be very resilient.  Prices keep butting up against it and then reversing.  This is the chart of the SPY which is the ETF (electronic trading fund) of the S&P 500.  I prefer to look at the ETF rather than the actual index.  WHY?  On the ETF you can see the trading volume.   Volume was pretty low all week except for Friday which was also the end of the 2nd Quarter.  There was lots of adjusting of positions.   Overall, the Market accumulation/distribution dropped as sone money left the Market place.

It was also a quiet week for major economic news.  The only blip I saw out there all week was during the Presidential debate on Thursday evening.  And even that was just a minor reaction.

LOOKING AHEAD

This week should be a relatively quiet trading week.  Lots of folks will be traveling and spending time with friends and family over the 4^th of July.  The Market will close 3 hours early on Wednesday, July 3^rd , and will be closed all day for July 4^th.  The only possible disruptors I see for next week is FED Chairman Powell has a speech on Tuesday morning at 9:30am Eastern;  The FED will be releasing their Monetary policy report on Friday at 11:00am Eastern;  The June Unemployment figures are scheduled to be released on Friday before the Market opens.  There may be some price reactions but I believe they will be mild and not long lasting. And there is one last reason I think it will be a calm Market this coming week.  There are hardly any companies reporting earnings.  I am looking forward to a calm trading week .

HOW AM I DOING?

On Thursday’s webinar I reviewed my trading results for the 2^nd quarter.   I will say it out loud for the last time and then move on.  It was not a great trading quarter for me.  I had been PUT TO on three stocks which tied up my margins.  I thoroughly dissected what that did to my potential profits.  Sometimes it is OK to air dirty laundry.  I learned and hopefully others were able to pick up some insights, too.  That was the not-so-good news. 

But here’s the good news.  For the trading account I trade publicly, I made my mind to double the balance this coming quarter.  I love the feeling of trading well and making smart moves.  To start it off on the right note I got rid of all the marginal trades.  I was struggling to make profits on those trades.  I raised my account balance by 14.9% this past week.  The trades I made, I felt really good entering.  The results speak for themselves.

No Webinar this Thursday.  I will be eating great Texas BBQ instead.   Have a Great 4^th  everyone!