As with many areas, the financial market is not as active during much of the month of August. Nevertheless, for those trading, good opportunities still present themselves.
We traded fewer times this week. Trading opportunities and trading time being the reasons. However, it was a good week. Out of the several trades we managed a couple were break even and the remainder were profitable adding nicely to our Slow Trader fund.
As I explained previously, this coming week will see us taking few (if any) trades. Trading, however, is like flying in the sense that we must remain current. Therefore, finding time for a few hours of trading will be beneficial. Importantly, any trading must be without distraction.
On return to full-time trading mid September, and after ‘hols’ in Majorca, I’m going to trade from home. Most retail traders trade from home. That’s the advantage of being a retail trader. It requires a different discipline – with me it’s making sure I don’t over trade.
This decision to trade from home will save a 50 minute each way commute and allow me more flexibility to be ready for key trading times. Between 6.30am and 8.30am on the opening of the UK market; early afternoon on the opening of the US market; and late afternoon to early evening where good opportunities can also be provided.
James and I will continue to share trade talk throughout much of the trading day, but now via Skype and a headset. We’ve traded together, side by side, for so long now that we feel we can communicate trade information (and two heads are better than one) without seeing each others screen.
When I’m back in the trading chair, and current in the market, we’re ready to move up our usual trading amount a few notches.