Saturday, April 29, 2006

Week 4 Summary

Profit/Loss to Date (closed positions) - $925 loss

This week
Positions closed - 19; Positions currently open - 8
Winners - 7; Losers - 11; Win/loss ratio - 39%
Biggest Loss - $201; Biggest win - $700

If my weekly profit/loss were a candlestick it wouldn't look all that encouraging. Things started off with a bang and send my bottom line back into the black. But after two average days where I closed mostly losing positions it has quickly retreated to near last weeks close.

As well as the massive win on Healthscope, I finally closed out my steady profitmaker Suncorp-Metway. Looking at my statistics though, SUN ended up only improving my balance by $387. Brokerage and interest on a large position becomes significant - in this case it was $54. In fact looking over my 62 trades so far, brokerage costs pack quite a punch. Right now it stands at $1241, which would sound ridiculously exorbitant if I wasn't making money.

Still this is quite a lot considering I only started with $6000. My gross profit is actually positive at $79. A couple of days ago it was pushing $700. It's a reminder that my trading hasn't been poorer than average but that I need to think more about the right time to enter trades. Re-entering stopped out trades costs double in terms of brokerage.

I think it's time to take charge...


Anonymous Anonymous said...

Hi Andy

Love your blog, came across it the other day and its one of my daily must visit sites. I currently dabble with cfd's but mainly just share trading due to my work commitments. Anyway keep up the posting and good work.


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