Last week I had not much time for trading because of a birthday in my family and one day where health didn’t allow me to be in front of the computer.
But it was a great week of profits: $1000 with futures trading. I recognize more and more: The less I trade, the more profits I get!
Market Ideas
The market moves slowly in the expected direction I marked three weeks before (1/2/3).
So, no big news. I do not expect a new all-time-high but if it will happen I am also prepared: I have my long term positions still running and some medium terms including the new positions of the last weeks. But also enough cash for a next crash or at least a nice low.
I often forgot to increase my amount of cash early enough before the last corrections. So, I hope I did everything right now. 🙂
Portfolio Talk
Because I had BAC on my watch list for some time, the fundamentals are not bad and the near analyst targets are higher, I paid attention on Warren Buffett buying lots of new share packages over the last 10 days (from 7/20 to 7/30, 10 packages between $23.51 and $25.24).
So, I decided to start a first position at $24.18 on 7/28.
I will add at the next bigger support levels below or when Buffett will buy again.
Not difficult to notice: I am trying different approaches for my long term positions. The reason is that I focus more and more on my futures trading and maybe I will reduce my swings, so I need several approaches for growing my capital next to the futures account.
Futures Experiences
Not much time last week but with a performance of +$1000 I am really happy about it:
Last Week:
• Paper account: +$17.50 (1 perfect move, 4 days not traded; MES)
• Free approach: +$93.30 (3 green days, 2 day not traded; originally traded in ES as +$933)
Penultimate Month (June):
• Paper account: -$150.90
• Free approach: +$256.20 (+$2562 in ES)
Last Month (July):
• Paper account: +$82.81
• Free approach: +$525.70 (+$5257 in ES)
[all amounts after commissions and fees, live account still pausing]
That means that I do not have to be in front of the computer all days, all weeks. I need a screen with the 5-minute chart open during the day but I can manage other tasks next to it and as strange as it is: My performance is much better then.
It should be the theme of overthinking and overtrading.
In July I doubled my profits of June. And I had a positive balance in TVO, my rule based account. But the two accounts and approaches are flowing more and more together.
Let’s see what August will bring where I will be on tour with our camper at least some days and trade only for some half hour periods.
Did you also make experiences with: The less I trade, the more profits I get? Maybe you want to share them in the comments section?
Happy and healthy week for you!
