We waited patiently for setups. We traded with the broader market trend. Last night was payoff with the S&P 500 dropping 6%. Going into the session we had 2 shorts already in place but another 4 recommendations ready to trigger, all of which did.
HMY hit its target price banking a 3R gain.
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Including open profits we’re now +6.6% in 21 trading days using 0.5% risk per trade. Had we been using the standard 2% rule we’d be +26.4%, but slow and steady is our motto. We also know that a few weeks doesn’t make a trading career and bad times will be seen at some stage. We know how to manage risk and keep exposure down so are confident that even with bad times we will continue to prosper over the longer term.
We are now have 5 short positions on; ADM, HUN, INFA, MIR and WMB. Here are the fills from last night:
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And the current account position:
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