What an incredible trading week it has been. Over the course of four trading days, I managed a net profit of +$10,700! This came from a combination of 12 winning trades, 5 break-even trades, and 3 losses. Let’s delve deeper into the week’s highlights.
Tuesday, June 27, 2023: A Slow But Positive Day
With only one trade conducted due to prior commitments in the morning, I still managed to kick-start the week on a positive note. The LLY trade yielded a profit of +$1,200.
Wednesday, June 28, 2023: A Roller Coaster Day
The second trading day of the week proved to be a roller coaster ride, with a total of 10 trades made. Despite 3 losing trades - AMAT, NVDA, and MRVL, each costing -$1,000 - the day still turned out to be profitable. I had 7 winning trades, including a fortunate close on AMD and a perfect top entry again on AMD, leading to a day’s profit of +$4,700.
Thursday, June 29, 2023: The Break-even Day
Thursday turned out to be a slow day. I had numerous break-even trades, but the star of the day was UPST, which secured us a win of +$1,200. The patience and discipline to hold on to the break-even trades allowed us to avoid losses and came as a good reminder that not losing is as important as winning in trading.
Friday, June 30, 2023: A Great End to the Week
Friday ended the week on a high note with three wins and two break-even trades. The wins came from BABA, PAYX, CCL, and CP, contributing to a profit of +$3,600 for the day. The risky strategy applied on PAYX, known as the falling knife strategy, paid off, highlighting that sometimes, taking calculated risks can yield favorable results.
Wrapping Up
To sum up, this week has demonstrated the importance of diversification, patience, and taking calculated risks in trading. It has also reminded us of the importance of managing our trades, especially the losing ones, and making strategic decisions that can turn a potentially losing day into a winning one.
There are no foolproof strategies in trading, but the ability to adapt to market conditions and make calculated decisions can make all the difference. It’s also important to remember that it’s not always about the number of trades but the quality of trades I make.
Here’s to more profitable weeks ahead! Happy trading!