The two trades I had open have both closed:
CAG lost £55
BMY won £48
Overall I am still up £135.
However, having two trades open meant I couldn’t open two further trades which would have both lost.
It’s tricky market conditions just at the moment. I said upfront I would only look to BUY (go long) and it is Guy’s suggestion that this strategy is NOT used to SELL (go short) as the WiseTraders Options strategy is a better strategy for shorts. Therefore, I am trying to buy when the overall market condition is down just now. That said I think I have identified another opportunity and a new trade has been opened this week. 11 stocks were added to my watchlist to see if they form the chart pattern I am looking for and therefore allow me to open a second trade. Remember, I am limiting myself to a maximum of two trades; this controls my risk and allows me to concentrate on trade management on just 2 trades.