A profit of 2% this month with a WIN ratio of 33%
The first five and main losses for December occurred during the first two weeks when I had my eye off the ball as I was spending a great deal of time putting the last touches to this Blog. This was an unstable time for the markets due to the threat of the Fed cutting back on the Stimulus in US and traders selling off or eing cautious over Buys. On all these 5 trades I got in too early and did not follow my own advice and keep an eye on them as they all did in fact go on to make new W4 Extremes then turn back to the Bullish trend. PWR, DRI and ATI hit new W5 highs but did not setup again with the indicators, TEF seems to be on its way but the PTI dropped below 35 and the Elliot Oscillator went beyond 140% thus taking the number of required indicators also below the required 6 needed. STO (below) did eventually hit a new W4 Extreme on the 13th December, held the TJ’s Ellipse and although the Elliot Oscillator went beyond 140% there was still 7/9 indicators in the green so was still a good trade setup. BIG LESSON to stay focused no matter what else is going on (Website launch or not!!) as with this strategy it is possible to get back into trades if enough indicators are still green as I was simply too early in the trade.. With the other three there was still opportunity using the 6/4MA High as a trigger, so again STAYING FOCUSED in the 5/7 bars after a trade has stopped out is important.