Philstockworld Jolly June Trade Review – Part 1
What a month May was!
Through May 23rd, we had 158 winning trade ideas against 29 that did not work out (as of the review) for an 84% winning percentage. As usual, we begin our reviews with the last week of the previous month – even though the last week of May didn't overlap into June – as last weeks often do into the new month (which is why we do it).
Still, 4 parts is plenty for one month, so it's time to move on! Our Trade Reviews not only let us know if we're on or off track but, by putting the trades in context, hopefully we remind ourselves what works and what doesn't work in vartious situations so that, when we see a similar situation, we are ready, willing AND able to pull the trigger.
As usual, we should never be at 100% because we WANT to have trades on both sides of the table (as hedges) and the profit or loss of the trades are as of today, so we look very closely at the LOSING trades – to see if we now have better entries than we had originally (assuming we still like our premise).
Monday, May 26th was a holiday, so we start this month off on a Tuesday:
Selling risk to others in our Member Portfolios has given us 10%+ gains for year (so far). In fact, the only strategy we agreed with from the above chart was gold, which we bet heavily(along with DBA) at the beginning of the year.
Remember, this isn't about making good picks, per se – it's about having a good strategy that gives you a high probability of success – even when you are wrong about a trade. BEING THE HOUSE and selling risk (through options) to others is the closest thing we get to
The following article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.