Total Profit Week: +1597.00
Account Total : 10,271.65

No positions open and I’m off on holidays.

Well this morning I closed out all my shorts which had amounted to 12.50 a bit shy of the 20 I wanted. I’m heading off on holidays for three weeks so want to bank the profits and relax without thinking about the markets. The total profit on the trade was around 1500 Euro bringing my account above the target 10,000. The intended exit point was 5250 on the FTSE 100 but the markets didn’t work quickly enough. For my first year of trading I’m very happy with my trades and the fact I protected all my capital. The first few months were a bit hairy but after that I settle down.

On Banks
I also off loaded my AIB shares after the Monday rally and made a small loss but got out in time. The intention is to wait for another few months and see where we are then. I jumped in way too quick and will be ready for the next leg down when it comes.

Best of luck if your trading and I will be back again in another few weeks.

Total Profit Week: 0.00
Account Total : 8,674.15

My current shorts may look well under the weather but I’m very happy with them. As stated before this is a longer term position which I am building on to complete a short of 20 Euro. I’m incrementing my position and scaling in. The reason for this is that at any given stage the market may falter so if I sit and wait for the best price I will miss the action. This way I will at least take part with a portion of my intended trade.

There is an interesting article over at CNBC on the bearish side noting that this is a financials rally and probably doesn’t have legs. I’m still looking for the FTSE to reach 5800 as I believe this is a logical barrier considering the underlying fundamentals of the market. I also believe we will test new lows before year end.

Total Profit Week: 0.00
Account Total : 8,674.15