Going to jump straight into the results for this week as I'm snowed under with day job deadlines!
Account 1: Pro tips strategy account
This account took a bit of a battering, a few of the share tips I received stopped out almost immediately when the market dipped a couple of days during the week. Wasn't great as each one racked up losses of around £25 a time which soon added up. I've taken a look at my existing open positions and I've only managed to move stops upwards on around 3 of them out of 36 in total. I did receive some share tips on Friday but I was out of my office for the day so I will be establishing some more positions on Monday. The account has around £300 of free trading resources.
So a breakeven week in the markets but with a 6% drop in this account the balance now stands at £1672.53.
Account 2: Tony Loton's 'position trading' strategy account
I actually had 2 trades stop out this week giving me over £110 in combined profit which I was pretty chuffed about. However I also had quite a few stops of between £10-£15 practically wiping out that profit which was dissapointing. In fact on Thursday I had 3 trades stop out - McBride for a loss of £14, Pace for a profit of £14, and National Grid stopped at £0 for a total breakeven trade and breakeven day, spooky times! It was that kind of week though.
I've made several new trades, some of which have jumped to immediate profits. Remember my pyramid into ITV a few weeks back? It still holding up and thanks to a 5 point jump on Friday its added another £10 in accumulated profit. It may also mean that I establish another £1 per point into it very soon. Got to keep backing those winners!
So the account now has 35 open positions, and I've managed to manually move 7 of the stops upwards to lock in more profit/reduce losses. The account balance is now showing as £1173.05 a 3% increase on last weeks figure, so despite a few stops losing money its nice to see the account still grew. Another example of why tight exploratory stops are needed when you first establish a position.
Catch you next time, trade well guys!
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