This was not a good week for me (-5,472.71), compared to my $9,236 the week before, I pretty much wiped out 60% of my last week gains.
image

Reasons for such a bad week:

  • Taking too much risk
  • Not following my methodology
  • Market went sour

Here are some of the action items for next week:

  • Streamline my risk calculation spreadsheet
  • Reduce my position sizes if necessary
  • Finish my new trading plan - improve my daily and weekly process
  • Start rating my trades

Today I was brave enough to close my position on 3M, it hurts. I still think that the stock will recover but I prefer to move the money to a stock that will help me recover "faster", that stock was LH (Laboratory Corporation).

On a positive note, I am comfortable with most of the stocks in my portfolio, they’re fundamentally very sound and well positioned to continue upwards (some of them are already there, like Tim Hortons - THI.TO).

Have a great weekend.