Week In Review 9-12-08
The week started off good for me and then I blew it. I got too cocky and started trading outside my plan. I ended up the week down .21R but it sure feels like I was down more. I could have had a very good week if it wasn't for knee-jerk trades that I shouldn't have taken.
For the month of September I'm down 2.55R.
The screens came to life this week with Zweig RS 5 making 2.43% and the Zweig MACD making 3.5% (on one stock -- COH).
Posts
2 comments:
Hi Scott,
I love following your blog as you think the same way I do or have in the past. I see you listing your returns related to risk, but what has been your percentage returns as a percent of your entire account that you are using for these trades?
I found that when I used to use the Zacks Research Wizard, I was hesitant to get in and out of trades so quickly, and without using limits as sometimes prices spiked in the mornings. I found that while I had many successful short term trades, the leftover money sitting in cash with a 0% return balanced out my success to end up at the overall market's return!
I have since discontinued Zacks, and I am trying to get back into the market fully with longer term picks (Buffett wins again!).
Thanks, and keep up the good work!
Mike
Mike,
I risk about 1% of my account on each trade so each R multiple is roughly 1% of my account.
My account is about $1 billion now so every 1% represents 10 million dollars. OK, not really.
I agree with you about getting into a trade in the morning. I've experienced the same thing. Lately, I've decided that most trades before the first hour is over suck, so I plan to wait.
Post a Comment