May 2010 Trading Review
May 6th was a historical day in the market. The Dow tanked 9% in minutes but climbed back up near the end of the day. We have since closed below that level later in the month. The bears seem to have finally awoken.
I closed two trades in May totalling a decent gain of 10% in my RRSP trading account. The first was shorting CVE.TO, which made me 10%. The second was long TCK/B.TO, which ended in breakeven. I took the second half of the month off for my wedding in Dominican Republic.
I opened two positions before leaving for vacation. I shorted CM.TO and bought some HND.TO. The market made a roller coaster run up and then down while I was away. So I wasn’t able to cash in on the move.
As for my forex endeavour, I bombed the JForex contest this month. I started well with a 60% gain in the first week but I got greedy and tried to go for higher. My contest account (demo only, not real cash) whipsawed around breakeven a few times afterward. Then I just gave up on this month’s contest. I verified with the official that my startegy wouldn’t have qualified anyway because I was manually intervening too many times.
Nevertheless, I updated my automated trading strategy for June before going on vacation. I will be back at it again competing in June.
But not until my wife and I can settle down in our new home first. We are still unpacking, buying furnitures, and tidying up our new place as of this first weekend in June.
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