Review week 26 and economic calendar week 27
Review week 26
Result: 1,7R in 1 closed position. No positions open at the moment.
I know, I said I would not take any trades this week. And I almost did, but the trade I took was just to good to pass up on. Let's have a look.
|SPX500 - Long 1,7R|
|SPX500 - Ichimoku cloud|
I planned to hold this trade up to 1360 for a 2R profit, but as the weekend was approaching I did not want to continue monitoring this trade. So I was happy to get out at 1355 with 1,7R profit.
Also, as I have been on a losing streak last two weeks and I was confident about this trade setup I decided to risk more than 2% of my account size on this trade. I figured that trading same percentage on a smaller account would make it only more difficult to make back what was lost. Coincidently, I positively acted upon number one of the 7 deadly trading sins posted here. It is encouraging to find out I came to that same conclusion. I will use this to redefine my position sizing as well. I haven't decided on it yet, but I guess I will use a high water mark for taking a percentage as position size. I will get back on this once I am done rewriting my trading plan.
Economic calendar week 27I marked the ECB press conference and the Nonfarm Payrolls as events that I do not want to be in the related markets. The other events are boat rockers, but these two are real market movers.
|United States||20120702 14:00:00||ISM Manufacturing PMI|
|European Monetary Union||20120703 09:00:00||Producer Price Index (YoY)|
|European Monetary Union||20120704 09:00:00||Retail Sales (YoY)|
|United Kingdom||20120705 11:00:00||BoE Asset Purchase Facility|
|European Monetary Union||20120705 12:30:00||ECB Monetary policy statement and press conference|
|Canada||20120706 12:30:00||Net Change in Employment|
|United States||20120706 12:30:00||Nonfarm Payrolls|
|Canada||20120706 12:30:00||Unemployment Rate|
|United States||20120706 12:30:00||Unemployment Rate|