Thursday, July 1, 2010

June 2010 review

I really did not trade this month. I did not look back at what I did as I recall holding onto positions in all accounts from last month. I'd owned VMW, sold out just above my buy price after having been up 7%. I also took money back from the options god on this, in excess of 100% return, a 1R gain. I also was holding RJI, sold out in light of current market conditions and the fact that its chart shows the 50 day below the 200 day. RJI was about a 1.5 R gain, had been closer to 3R, in three accounts! The reason the bottom line is not better is that these were all profitable positions held over from May, the profit did not grow much from then.

Discussion: it was a wonderful month of peace. I am going to reconsider how I invest in light of this. I am considering a much slower paced style with most of my accounts. I've opened a futures account with the idea of following commodities in turtle fashion. It might just be a lot of data to keep track of. I am enjoying the short term e mini trades right now. I know some of the single contract trading I've been doing in that account is mainly educational in how the new trading platform works, but it is amazing to see what can be done with a single instrument. I've tended to enter trades a little early but frequently I've been correct if I hold through some pain. I've also then been so relieved to come back to profit that I take small profits (50-100) rather than the larger ones (300+) that I'd envisioned with my original trade premise. This needs to change for me to scale this account up.

If I can do this I can foresee the day I can quit my day job is closer than first thought.

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