Here I will recap this weeks trades. Did we make any money or lose money? See below. Traders often ask me how much they can make. We have traders who trade all different amounts of size so at the bottom, I posted a list of the amount of money they made or lost if they traded X number of contracts.
Monday July 21, 2014
Bought Wall St 30 – $45 Profit
Tuesday July 22, 2014
Sold US TECH 100 – $25 Loss
Sold US TECH 100 – $0 Break even
Wednesday July 23, 2014
Sold US TECH 100 – $20 Loss
Sold US TECH 100 – $44 Profit
Sold Gold (weekly) – Still open at the end of the day
Bought Silver (weekly) – Still open at the end of the day
Thursday July 24, 2014
Closed Gold – $25 Profit
Friday, July 25, 2014
Closed Silver – $75 Loss
Bought US TECH 100 – $44.50 Profit
Total profit/loss for the week:
Total – Profit of $38.50 if you traded one contract
Total – Profit of $194.50 if you traded 5 contracts
Total – Profit of $389.50 if you traded 10 contracts
Total – Profit of $974.50 if you traded 25 contracts.
Some of the traders did not trade the gold and silver trades. If thats the case, then profits this week were $88.50 instead of $38.50.
Some traders told me they increased their contract size after a loss. I advise against that because it can become your death trap but if they did, they made more than whats posted. Remember though that there will come a day when you can’t martingale your way to success. There will be strings of losers so that habit is ok if you limit it to one or two times but just keep yourself in check.
Lessons learned this week: One bad ITM trade can screw2/3 of the weeks profits. On a scale of 1-10, I rate this week as a 2.5. I was not happy with the results, even though we made a profit.
Highlight of the week: Our first trade of the week soared within a few minutes of buying it. Our Gold trade tanked once we sold it. These were 2 happy moments.
Note: This doesn’t account for fees or commissions.
Happy Trading and see ya’ll next week!