Thanks to Tony Loton for his comment yesterday. One thing I need to fine tune more is my trailing stops. I'm not saying that Savills will definitely have made me more money if I had a wider stop in place because obviously the share could go down from here but theres always a chance it could go up and would have made me more. Looking at Savills graph, the price spiked alot on Wednesday shooting the price up to around 385 and obviously my trailing stop followed that price action.
The next 2 days it dropped back down to around the 365 mark which was still slighter higher than Tuesdays price but low enough to trigger my trailing stop. The next trading week will show me whether my trailing stop triggered at exactly the right time. I still need to work on setting my stop losses to maximise profit. I noticed over on spread betting beginners blog that he sets his stop loss based on an ATR (14) value of around 2x. That's something I may start to check against my usual stop distances of around 10-15% to see if there is a big difference between the 2 figures. Each share reacts differently within the market so maybe I need to take a closer look at each individual share rather than using a blanket stop figure for all.
Ok its time for this weekends roundup of account figures:
Account 1: Pro tips strategy account
Overall account balance is £1242.80 with 44 open positions showing a current loss of -£14.64 and even though some of them had gone into positive territory during the week it seems all of them have slipped back into breakeven trades during Fridays market.
Account 2: Tony Loton's 'position trading' strategy accountOverall account balance is now at £862.04 with 31 open positions showing a current profit of £32.95 and I have £599.13 yet to invest. The biggest open profits showing at the moment are Mitchells & Butler at £40 and Segro at £30, both slightly down on last weeks roundup.
Well thats it for this weekend, hopefully I will bag some bargains for Account 2 next week. Good luck with your trades!
Hi
ReplyDeletebeen following SBT for a couple of weeks and I find it extremely interesting, especially running two different accounts.
I have been following Tony Loton's blog for quite a while and this is also a top rate blog. Just to complete the picture I also follow SB Beginner - again an excellent site...
Obviously I'm familiar with Tony's SB strategy but I'm not able to find any info regarding 'Pro Tips' when I google. I assume it's a share tipping site of some site?
Anyway carry on the excellent work and I look forward to your conclusion/s in the months ahead...
Regards
Alan Leak
Derbyshire
Hi Alan and thanks for your comment.
ReplyDeleteYes the pro tips account is purely purchases made on the recommendations of 2 different sources of share tips that I subscribe to. They are both membership based services and for privacy reasons I cannot name them although you can clearly see which shares I am buying each week on here.
Thanks for reading!