The profits for this week is 66.60 USD. It could have been another 50 USD but things do not always go according to plan. XAU nearly hit my take profit point but u-turned at the last minute and rose all the way up again to my entry point before falling back down. Nonetheless, such is trading and we cannot capture every single profit. The fact that I earned profit is good enough. That being said, recently I am thinking of suitably increasing my trading lot size. I have not yet worked out the risks and capital involved yet though.
I managed to close the last of my silver trade in my YOLO silver grid. As you can see from the screenshot above, the XAG trade with only a 60 cents profit which lasted 76 days was the last trade in the grid. I have the habit of closing the last trade in the grid at breakeven, mainly to minimise risk. At this point in time, I still believe that gold and silver falling is only a matter of time, hence unless something drastic happens, I do not intend to short silver again any time soon. I will be getting ready to go long when the time comes.
Separately in the China stock market, an interesting thing happened. The SSE Composite Index and the CSI 300 (A shares index) have been falling quite a fair bit. But Three Gorges, which I invested in, seemed to go against the market and rose in price. As of now I have a little profit only, mainly because I am playing the spot market without leverage, and also because my portfolio size is small. I am putting in extra money into long term stock investments every month, but the amount of this extra money is not big. For more analysis on this, you can read the latest article I posted: China’s National Team Gives Up.
Welfare pack for this week:
Download this week’s CFTC Commitment of Traders (big monies) analysis here.
Read more on what is the CFTC Commitment of Traders report.
Do note that the financial markets are volatile and unpredictable. The above report is only another set of tools to help with our analysis, and by no means is a 100% indicator as to what will follow. It should be used together with other necessary research which a trader or investor should do.
