Ok so this morning I received my usual midnight email from Worldspreads for Account 2 and after the last few days I presumed it would be another loss. To my surprise it was actually a nice trailing stop that had closed at a profit. Savills closed at 363.05 giving me a profit on the trade of £65.05, just what this account needed at the moment.
I also opened a new very small test position in Cairn Energy @379.20. This is one that had stopped out previous in an old account and the share has gone thru some tough times recently due to disappointing results in their Greenland explorations. This means I'm opening this position at a whopping 17.5% discount on my last position, a very big saving. We'll see how it goes.
No action on account 1 at all yesterday.
Tune in tomorrow for account figures updates, and hopefully you guys did OK during last weeks trading.
Nice one! Or two. Which demonstrate two aspects of the Position Trading strategy:
ReplyDelete1. Trailing stops (carefully) to lock in profits without crystallising them prematurely.
2. Waiting for a previous holding to fall, before buying back in at a discount.
Tony Loton
www.lotontech.com/positiontrading