Mar 13 2008
One Trade Can Make a Difference
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This week has been a challenging one. Until today I’d done eight trades in the S&P and only one of them made me any money. I was down eight points for the week. To be honest, I was a bit concerned that this would be my first down week for the year.
Yesterday afternoon, though, I put on a short based on a combination of chart analysis and looking at what was going on in other areas, particularly Treasurys. The profits off that one trade turned me back positive for the week. One more nicely profitable trade after that took me to better than 20 points to the good. I did take a loss on an afternoon trade, but at up 16+ for the week heading into Friday (no overnight position) I’m basically assured that I won’t end the week south of the zero line.
This is one more example of how win rates are not nearly as important as you might think. I will admit, however, that losing frequently can chip away at your confidence - especially if you aren’t used to it.
Here are some other posts which might interest you:
- Who Follows Bear Down the Tubes?
- Trimmed My EUR/JPY Position a Bit
- Sometimes Even Good Trading Results Need to be Rethought
- USD/JPY: Shifting My Forex Positions a Bit
- Ugh! An Awful Week
