All-time maximum profit earned since 2011: US$137338.18
Current drawdown from all-time maximum true profit earned: US$0
Change from last update: Up US$21,897.78
Directional stance: Portfolio is 60.42% bullish
Lei ho ah! Mo men tai! Hai ya hai ya! Mrs RetailTrader and I are spending a long weekend in Hongkie Land where our plan is to eat and eat and eat, and sleep. Sounds like a plan?
Can't spend too much time on blogging when this awaits you.
What a difference a week makes, and it's good to see some green figures on the weekly update again. As things stand, the downtrend that seemed to go on and on and on finally appears to have ended. The chances are the S&P 500 has finally bottomed in the 1970s and it actually hit the 2070s in the course of last night before correcting to the 2050s. Hopefully, we are finally on the bull train that takes us to the 2200s for good now.
The drawdown in the markets has been a drawdown for my emotions as well. I have to admit in the course of the correction I have spent some moments at night (away from Mrs RetailTrader) staring at charts and trader sites wondering when the correction would end, staring at trendline after trendline and support level after support level being broken, Fibonnaci retracements to precarious levels, and drawing up exit plans in case the worst happens. Who said money was easy to earn?
One positive takeaway that has proven itself to be true (empirically) is the way this strategy seems to work out is that each and every time my emotions get tested, it is a sign and clue to me that the markets will be turning around soon. Well while this may be true, it's still important to prepare for the worst, because in trading one blow up is all you need for the game to end. Rule # 1: NEVER BLOW UP.
On another positive note, the markets appeared to have bottomed out together with the recession of my flu (again, at long, long last!). Hmmm am I some kind of market harbinger? Like the World Cup octopus? Perhaps markets will correct whenever I sneeze or cough?
Ok enough from me. I'm out of here now because I have a lot to do in Hongkie Land. I'll see you again when I'm back in Singapore!
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