Sunday, May 07, 2006

Week 5 Summary

Profit/Loss to Date (closed positions) - $1573 loss

This week
Positions closed - 32; Positions currently open - 7
Winners - 9; Losers - 22; Win/loss ratio - 29%
Biggest Loss - $129; Biggest win - $467

The figures are not looking too flash this week. I tend to hold on to my winning positions for longer than the losers, and reducing my maximum loss limit has allowed me to do this with more confidence. The one positive is that while my ratio of success is quite poor, winning positions have consistently added more to my balance than losers have deducted. My experiment with a greater volume of trades has allowed my overall balance to look healthier than my losing streak a couple of weeks ago. Now the challenge is to turn more of them into winners, and prevent the winners turning into losers.

I have scanned in detail all weekly charts on my watchlist using a variety of measures - price movements, support and resistance, volume, stochastics, MACD, On Balance Volume and money flow. Each stock was then classified with its trend and the strength of that trend - either weak, moderate or strong. I will rely on this list in the coming week.

1 Comments:

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