8 October 2008 – HRL target met

We banked profits on the short HRL position today and came within a whisker of doing the same with EPIC. Here is a visual version of the HRL trade.

Last nights decline puts the account at +2% for the first week but we’re still struggling to find appropriate opportunities. One or two are developing but we’re patient enough to wait for the right setups to come along rather than trade just for the heck of it. The account is now +4R with a 50% success rate. Interestingly though the two losing trades have both been against the major market trend and one had excessive slippage. This shows that a positive expectancy is easily achieved even though some knocks along the way are suffered. Many more will no doubt occur, but over the longer term we’ll come out ahead. Here is the HRL fill and the account status this morning: