P&L: 18-Aug-2017

pnl-201708018

Weekly P&L: -3.5%

Mistakes Made

  • Holding on to error trades in the hope to catch a small “bounce”

Successes

  • Stuck to plan on EOS position, momentum failed to eventuate so ended up cutting losses before it tanked further
  • Stuck to trade plan on NOBL, negligible profit however without properly evaluating the bankruptcy risk can’t hold

Plan Going Forward

 

  • Modified the strategy to focus on mistakes made by the market rather than trying to outsmart the market
  • Adding macro strategy to the watchlist next week as well as continuing to add stocks that potentially fall into one of our trade plans
  • Strategy going forward is to only have one open trade at a time, risk 6% of account per trade on opportunities where potential payoff is greater than the risk
  • A 6% win per month compounds to 100% per year, that’s the target
  • Underlying account balance is by default held in USD but can be switched into other assets if return prospects are obviously better and max drawdown is constrained to 10%
  • Currently holding SGD for the ability to make faster transfers between trading accounts

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