The week that was:
The highlight of the week was certainly the swinging price action on most markets as news pushed price first up, then down. All in all not a lot of opportunities in those conditions for me. It’s times like this when the value of a longer term system shows though. Having entered several positions early in the week the long term trades didn’t even look at the stops, while one of the mid terms was quickly run over with spike before recovering. Both systems have their unique advantages, we simply move on to the next trade knowing the larger returns take time to deliver.

FX:
No trades for the week as price swung back and forth with a few failed breaks on longer time frames. New trends are always around the corner, so I sit and wait for their arrival.

Equities:
Two new long term positions added as my heat had lifted sufficiently, one being the first pyramid for this new market cycle we are in. Pyramiding correctly for the time frame and instrument you are trading is one of the biggest keys to successful trading, it’s the difference between good results, and great results, all from the same price move.

One mid term position was entered as well, while the spike took out the position entered last week after it failed to hold it’s support level on the broad market price drop. A -1.0R loss, but an excellent signal all the same.

Equity Sectors:
Still waiting for price setups to suit my trading style.

Commodities:
No new moves and no actions, still holding the one position.

Results:
FX : R
Equities : -1.0R mid term system
Equity Sectors : R
Commodities : R

Housekeeping:
No stops to move this week, no new long term positions on my scope, just sitting back and letting the trend do its job.

The week ahead:
Plenty of news from China hitting the street mid week and a holiday for the US market on Monday.