20/02/2011 Accounts Roundup

Well a very slight gain in the FTSE All Share Index for this week means it pretty much flatlined, so lets see how both accounts fared.

Account 1: Pro tips strategy account
I reported last week that I was going to establish positions in 4 shares on Monday mornings trading. I managed to place positions in 3 out of the 4 due to the spread on Majestic Wines price being far too wide for some reason. I kept checking up on it during the week but the spread remained too wide so I abandoned a trade in that share tip. I did however place 3 more share tip trades on Friday in SVG Capital, DS Smith and Ladbrokes.
The week saw 4 stops hit for losses of around £60 but the account actually grew very slightly to £1695.98 a 1% overall increase.

Account 2: Tony Loton's 'position trading' strategy account
After last weeks very good return, this week saw 6 stops get hit which chipped away at the previous weeks account profits even though 2 of the stops were for a small return. Some of the account grew very slightly to offset some of those losses, but most of the positions had a pretty flat week. Account ends up at £1306.74, which is a 1% fall on last weeks figure.

This week I saw a very interesting post over on spread betting beginners forum about the original Turtle Traders and the trend following rules that they followed.  It was good reading for me as I have always had a problem about when to pyramid into an existing position, and this article explains the methods which the famous group of traders were using whilst doing their trial. I cant adopt any of their original trading strategies as both my accounts have very strict rules established already obviously, but I feel I can adapt this 'mechanical' method for my own pyramids, which takes out any emotional aspect of when to place a trade. I only have 3 pyramids active at the moment in Account 2, and I'm certain that I should have more in place right now which would mean more profit for the account. Well worth a read when you have the time.

That's it for this week, I'm off now to search for valid trades for tomorrows open. Wish you all a good trading week!

Paragon

Well I had 1 position stop out yesterday, that was Paragon @150.70 for a £15 loss. Another for my stop out list, hopefully repurchase it at a cheaper price sometime.
I was snowed under with my business over the weekend so never got chance to come on here and give my account figures for the week. Now that they have changed I dont have the figure from Friday evening after market close so you'll have to tune in this Sunday for account roundups, sorry!

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!

Quick update and Week1 account results

Just a quick post to say that one of my positions Hardys Oil & Gas fell sharply and triggered its stop loss @176.80 for a loss of £19.70. Obviously a little dissapointed but I will probably try buy it again sometime at a cheaper price.
As for current account standings (profit/loss) these are at:

Account 1: Pro Stock Tips: (-£12.63)
Account 2: Position Trading Strategy: +£81.84

So after week 1 of my blog, the position trading strategy account is ahead.