Friday 29 October 2010

2 New positions

Today I established 2 new trades in the position trading account.
These were 'Helphire' @22.1 and 'Mouchel' @88.4.
Both these shares I have held positions in before, Helphire stopped out and Mouchel I owned in a previous account and closed the position in profit. As the principle of this strategy is to buy at a lower price than when you last got stopped out/sold at, both these shares I have picked up at a discount compared to last time I owned them. Helphire I have got at a 39% discount on my last stop out price and Mouchel I have got at a 29% discount. Therefore I have saved myself money on the fall of price from when these 2 last stopped out.
You can find out more about the position trading strategy I am using by purchasing Tony Lotons' book over on the right there. As I own the book myself it would not be fair on the author if I revealed the full extent of his strategy on this blog - it is well worth the purchase.
As I write this the FTSE is up a measly 0.06%, but hopefully enough to keep all my current positions open. The aim of the game is not to get stopped out!

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