Before we get to July’s numbers, here is a short reminder of the results from June. The full report from June can be found here.
Tradesight Tick Results for June 2012
Number of trades: 60
Number of losers: 26
Winning percentage: 56.7%
Net ticks: +16
Reminder: Here are the rules.
1) Totals for the month are based on trades that occurred on trading days in the calendar month.
2) Trades are based on the calls in the Messenger exactly as we call them and manage them and do not count everything you could have done from taking our courses and using our tools.
3) All trades are broken into two pieces, with the assumption that one half is sold at the first target and one half is sold at the final exit. These are then averaged. So if we made 6 ticks on one half and 12 on the second, that’s a 9-tick winner.
4) Pure losers (trades that just stop out) are considered 7 tick losers. We don’t risk more than that in the Messenger calls.
You can go through the reports and compare the breakdown that I give as each trade is reviewed.
Tradesight Tick Results for July 2012
Number of trades: 35
Number of losers: 17
Winning percentage: 51.4%
Net ticks: +11 (+27 if you ignored the Fourth of July week)
July was an unusual month for trading in general. Volume and range continue to be less than average, but there was something else here. The Fourth of July Holiday was on a Wednesday to start the month. That pretty much ruins a week, especially during the summer, and makes it like the last week of the year between Christmas and New Year’s Day. No one trades when a Holiday is Wednesday in the summer, and we warned people as such to either skip the week or go to small size. However, these results are not “sized,” they are just raw data numbers based on the calls, and we make calls each day except for Holidays (Fourth of July was a Wednesday) and half days (the day before).
July suffered from a lot of light volume days, well under the 1.5 billion share mark on NASDAQ volume. We prefer to see 1.8 billion shares daily or better, and it didn’t happen often, although the second half of the month was much better than the first. We made way less calls than normal and fewer trades triggered (50% less than the prior month). August is typically one of the easier trading months of the year, although volume needs to improve a tad (volume in August is never huge, but it needs to be more than 1.5 billion a day on average on the NASDAQ).
Something should shake loose soon and get this market moving one way or the other, and we can get back to more normal trading.