..of why you need to have trailing stops in place! The FTSE dropped nearly 2% in todays trading session, and I saw no less than 10 of my positions in 'account 1' (pro share tips account) get stopped out. Some got stopped out for decent overall profits but some were also losing positions. I can't be too down about it though, the market has been kind to my accounts over the last few weeks and it couldn't and wouldn't continue like that forever.
In fact todays post was going to be about two positions that had that stopped out yesterday 'prematurely'. They had both risen fast during the day and come down just as fast towards the end of the days session and taken out both their trailing stops that I had in place on them. But overall their stock charts were showing both shares still in an overall uptrend so I was a bit gutted they had hit their trailing stops because in theory they still had some way to go... until today!
Funny how things turn out.
My post was going to be about the fact my default trailing stop on new positions is 2xATR (Average True Range). For those of you that are unsure, the ATR on a stock measures its volatility - this takes a stocks highs and lows over a set period based on values on an intraday, daily, weekly or monthly period. The default period is 14 but I lean more towards 10 and use it on daily graphs. This value therefore gives me an average of how much a stock has moved over the last 10 days. Usually the value doesnt change too dramatically if you increase the period from 10 to 14 anyway. So like I said, I tend to have my trailing stop setup as 2xATR on a stock, e.g. a stock at 100p may have an daily ATR of 6p, hence my default trailing stop (2xATR) will be at 88p when I first establish the position. *Phew*
Anyway my point being (yes there is one!) I noticed recently that sometimes when a stock gets some good news (like William Hill did yesterday) and the price suddenly spikes due to increased buying, the trailing stop of 2xATR doesnt seem to be enough when that buying action settles down and the price drops. i.e. the last few weeks of its average daily range just goes out the window! It doesnt really concern me when the price doesnt drop that same day because I manually check my stops most evenings and I can see positions that are close to stopping out - It is the stocks that drop that same day whilst I am not watching my positions that are sometimes getting stopped out unnecessarily because of a price spike. I may have to start looking at the daily biggest winners list at Yahoo Finance during my lunch hour just to check if one of my shares has suddenly skyrocketed in price. Then if needs be I can check that the ATR hasnt suddenly doubled in value.
So from being very dissapointed with those 2 positions being taken out prematurely last night, obviously I end up looking like a hero because the markets came down and both shares dropped today. Hence I banked my profits at exactly the right time... But it could have easily ended up going the other way and leaving me bitterly dissapointed. So if anyone has any suggestions on positioning stops other than multiplications of ATR then drop me a comment, I'd be interested at looking at this in a different way. Maybe even leaving a stop without a trail once its risen past 2xATR...
Anyway hold onto your trading seats because tomorrows market could be another bumpy ride!
Showing posts with label profitable trade. Show all posts
Showing posts with label profitable trade. Show all posts
Thursday, 20 January 2011
Saturday, 15 January 2011
Position Trading Second Edition
Some of you will know that I am spread betting with two different strategies, one of the two spread betting strategies I am running on this blog is the Tony Loton's 'position trading strategy'. The strategy is outlined and explained in great detail in his position trading book - a simple but very effective way of trading. Well I'm pleased to see that he has just published his second edition of this book and it is still an excellent read. It includes new more detailed information plus an update on his publicly traded portfolio amongst other bits and pieces. I still think that it is an excellent system for spread betting and I have updated the link to the book on amazon over on the right there or you can click here to purchase it at a very good price. For those of you who havent got around to reading it yet I suggest you pick up a copy straight away. For those of you that own a copy of the first edition I still think it is worth buying just so you can read it and refresh yourself with the position trading strategy. I have just finished it and its good to remind yourself of every aspect of the system and at that price its a steal. It may not make you rich but it will definately enable you to improve your spread betting tenfold.
I had a couple of stops hit on the accounts yesterday as the market dropped a little towards mid-day. In account 1 the position in Fenner plc that I only just established on Wednesday hit its stop, but for a profit of £15 - looking at the share graph it seems it shot up the very next day but came down again pretty rapidly and because my trailing stop had moved up it got taken out quite early. Still a win is a win!
In account 2 (Tonys strategy) I had another stop trigger in 888, for another profit of £20. Thankfully most of my stops over the last couple of weeks have been for 'locked in' profitable trades, which is one of the major parts of the overall position trading strategy.
The FTSE 100 ended just over the 6k mark so up for the week very slightly, The FTSE all share index ended up on 3115 so again up for the week. I'll post my usual weekly roundup figures tomorrow - for now I'm going to go check my accounts and adjust stops ready for Mondays open.
I had a couple of stops hit on the accounts yesterday as the market dropped a little towards mid-day. In account 1 the position in Fenner plc that I only just established on Wednesday hit its stop, but for a profit of £15 - looking at the share graph it seems it shot up the very next day but came down again pretty rapidly and because my trailing stop had moved up it got taken out quite early. Still a win is a win!
In account 2 (Tonys strategy) I had another stop trigger in 888, for another profit of £20. Thankfully most of my stops over the last couple of weeks have been for 'locked in' profitable trades, which is one of the major parts of the overall position trading strategy.
The FTSE 100 ended just over the 6k mark so up for the week very slightly, The FTSE all share index ended up on 3115 so again up for the week. I'll post my usual weekly roundup figures tomorrow - for now I'm going to go check my accounts and adjust stops ready for Mondays open.
Tuesday, 11 January 2011
2 stops - 1 bad, 1 good.
The market fell a little yesterday and as a result I had 2 stops, 1 in each account. In Account 1 my position in 'Fenner Plc' closed out with a loss of £9. In account 2 my position in 'Thomas Cook' hit its stop loss but for a profit of £14. No new positions established so far this week. I've received some share tips but with the market on the rise today I need to make sure I dont pay over the recommended prices for them before I purchase. I'll keep you informed if I go through with any.
Happy trading!
Happy trading!
Sunday, 2 January 2011
02/01/11 Accounts Roundup
Happy new year!
Had my first stop out in a while on Friday, it was in account 2 on 'RM PLC' for a £22.50 profit. Shame it stopped out as it looked like it was going to turn into a decent winner. Anyway onwards we go, here are the figures for both accounts as they stand this week.
Account 1: Pro tips strategy accountOverall account value is now £1532.35, breakeven on last weeks figure at just £3 down.
Account 2: Tony Loton's 'position trading' strategy account
Overall account value is now £1074.01, about £3 down on last weeks figure so cant complain!
So both accounts held on to last weeks profits despite a small drop in the markets.
I should be investing more in account 2 as there is now £900 of trading funds free to trade with! So I really need to start scouring the entire London markets for opportunities to fire up this account again. Now Christmas is out of the way I will have alot more investing time on my hands!
Good luck next week, trade well!
Had my first stop out in a while on Friday, it was in account 2 on 'RM PLC' for a £22.50 profit. Shame it stopped out as it looked like it was going to turn into a decent winner. Anyway onwards we go, here are the figures for both accounts as they stand this week.
Account 1: Pro tips strategy accountOverall account value is now £1532.35, breakeven on last weeks figure at just £3 down.
Account 2: Tony Loton's 'position trading' strategy account
Overall account value is now £1074.01, about £3 down on last weeks figure so cant complain!
So both accounts held on to last weeks profits despite a small drop in the markets.
I should be investing more in account 2 as there is now £900 of trading funds free to trade with! So I really need to start scouring the entire London markets for opportunities to fire up this account again. Now Christmas is out of the way I will have alot more investing time on my hands!
Good luck next week, trade well!
Friday, 24 December 2010
Happy Christmas!
Just 1 last post before Santa arrives - I made a couple of trades this morning in account 1 based on pro tips. Most of the tips I received this week I could not execute because of IG Indexs' huge spreads. They were just too damn wide to make any of the trades worthwhile. So the 2 I did manage to make were EMED Mining @10.77 and Renovo Group @65.91. Account 1 had made it to an all time high of £1556 yesterday but today when I opened the trades I noticed that the account was down -£96 for the day so far. Not the kind of Christmas present I wanted!
No new trades on account 2, most of my stop out list is in positive territory (so no viable trades) and nothing else caught my eye. I had one stop out yesterday in Redrow for a £10.90 profit. One good thing is that there are only 2 negative trades in account 2 at the moment, so fingers crossed it stays that way during todays trading. My guess is people will be concentrating on last minute shopping for presents rather than shopping for shares.
I might have time to make a quick accounts roundup on Boxing Day but as I'm out and about visiting relatives it may have to wait. I will check my accounts and make a quick note of their values though for a post once I have more time.
Anyway, all thats left is to wish you all a Merry Christmas and here's to a prosperous New Year!
No new trades on account 2, most of my stop out list is in positive territory (so no viable trades) and nothing else caught my eye. I had one stop out yesterday in Redrow for a £10.90 profit. One good thing is that there are only 2 negative trades in account 2 at the moment, so fingers crossed it stays that way during todays trading. My guess is people will be concentrating on last minute shopping for presents rather than shopping for shares.
I might have time to make a quick accounts roundup on Boxing Day but as I'm out and about visiting relatives it may have to wait. I will check my accounts and make a quick note of their values though for a post once I have more time.
Anyway, all thats left is to wish you all a Merry Christmas and here's to a prosperous New Year!
Saturday, 18 December 2010
Fridays trades.
I did make some trades after all, received the share tips on Friday afternoon so I sorted through them and chose to go with the following in Account 1:
Heritage Oil @425.86
Kesa @166.31
European Nickel @23.31
DS Smith @206.21
Meggitt @356.71
Kalahari Minerals @238.6
3i Group @329.73
I did get 1 more stop out on account 1 in the afternoon, it was the old chestnut 'Cobham' which stopped @198.702 losing me £7 in total.
Account 2 also suffered a stop out, but it was for a profit of £18.47 on French Connection. That will go onto my stop out list, but it would have to come down alot more for me to consider buying it again at this point.
Catch you guys tomorrow when I update the account stats for the week. Have a good weekend.
Heritage Oil @425.86
Kesa @166.31
European Nickel @23.31
DS Smith @206.21
Meggitt @356.71
Kalahari Minerals @238.6
3i Group @329.73
I did get 1 more stop out on account 1 in the afternoon, it was the old chestnut 'Cobham' which stopped @198.702 losing me £7 in total.
Account 2 also suffered a stop out, but it was for a profit of £18.47 on French Connection. That will go onto my stop out list, but it would have to come down alot more for me to consider buying it again at this point.
Catch you guys tomorrow when I update the account stats for the week. Have a good weekend.
Thursday, 9 December 2010
2x4
Just a quick update on how things are going, I havent made a post this week so far as nothing has really happened until today, Mon to Weds trading just saw most of my positions in both accounts either static or steadily rising. Today I got notification of 4 stops on both accounts emailed to me. In account 1 all 4 stops were for a loss varying between £3-8. All 4 stops on account 2 closed in profit, for a total of around £30 so a welcome boost to that account. Not made any new trades on account 2 because of the market rise. Everything on my stop out list has pretty much risen since they stopped out so no new trades have really been available from there. I'll be making my usual share tip trades over the next 2 days so I will report back here on what I bought.
Hope you guys are making monies, take care!
Hope you guys are making monies, take care!
Saturday, 4 December 2010
Catchup post
Ok, I'm going to do a catch up post for the last couple of days trading. After this I don't think I am going to detail every single trade, as its becoming an extra workload for me to keep up to date in this way. The other night it took me nearly an hour to manually adjust my stop levels so I don't really want to be spending even more time on here entertaining my 3 readers ;-)
I will detail my share tip trades though, as I think those are the ones my readership will be most interested in. Maybe the only reason you tune in, heh?
Anyway, not sure if I mentioned this one before but my position in Rentokil in account 2 stopped out on Weds for a loss of £14. Its made its way onto the stop out list. I opened 5 new positions that day, all of them at a discount of when I owned them last. Lloyds banking @62.27, Barclays @259.6 (7% discount), Thomas Cook @178.60 (5% discount with support shown around the 177 mark) and Home Retail @203.8 for a 5% discount.
Those of you that read Tony Lotons blog will already know that Mouchel tanked so that stopped out for a £10 loss. I did however make a profit of £19 on MicroFocus which stopped out @353.25. It did rise more so I guess my trailing stop was too close - in fact this trade was the reason I manually went through every single trade again the other night and tweaked every single stop level of all my open positions. I hate those spikes that catch out my auto trailing stops, so I am even considering going back to full manual control. Yesterday the only new trade I made in Account 2 was in Xchanging @104.7 - that was a 6% discount on the previous stop I suffered on this trade.
In account 1 on Wednesday the position in Tesco closed @411.78 for a £3 loss, Beacon Hill closed out @11.72 for a £1 loss and I established a new position in Aviva @361.56 after it was tipped.
On thursday my position in Serica Energy closed for a £6 loss.
Friday I received a few share tips, some of those AIM shares which as you know seem to be £5 minimum on IG Index now. I bought Ashstead Group @144.76, Coal of Africa @77.19, Archipelago Resources @50.13 and Centamin Egypt @181.75 which I am sure I have owned previously in this account. 1 position closed that day, Euromoney Institutional, for a £10 overall loss. None of the trades in account 1 go onto a stop out list as that is a unique feature of the position trading strategy of account 2.
Like I said at the beginning, my future posts won't go into as much detail as previous posts. Some days I may not post at all if there is nothing worthy of note. I will continue to do the weekly roundup of accounts so that the comparison can continue as before.
Hopefully some of you made some good trades over the last couple of days, I hope next week treats you all well!
I will detail my share tip trades though, as I think those are the ones my readership will be most interested in. Maybe the only reason you tune in, heh?
Anyway, not sure if I mentioned this one before but my position in Rentokil in account 2 stopped out on Weds for a loss of £14. Its made its way onto the stop out list. I opened 5 new positions that day, all of them at a discount of when I owned them last. Lloyds banking @62.27, Barclays @259.6 (7% discount), Thomas Cook @178.60 (5% discount with support shown around the 177 mark) and Home Retail @203.8 for a 5% discount.
Those of you that read Tony Lotons blog will already know that Mouchel tanked so that stopped out for a £10 loss. I did however make a profit of £19 on MicroFocus which stopped out @353.25. It did rise more so I guess my trailing stop was too close - in fact this trade was the reason I manually went through every single trade again the other night and tweaked every single stop level of all my open positions. I hate those spikes that catch out my auto trailing stops, so I am even considering going back to full manual control. Yesterday the only new trade I made in Account 2 was in Xchanging @104.7 - that was a 6% discount on the previous stop I suffered on this trade.
In account 1 on Wednesday the position in Tesco closed @411.78 for a £3 loss, Beacon Hill closed out @11.72 for a £1 loss and I established a new position in Aviva @361.56 after it was tipped.
On thursday my position in Serica Energy closed for a £6 loss.
Friday I received a few share tips, some of those AIM shares which as you know seem to be £5 minimum on IG Index now. I bought Ashstead Group @144.76, Coal of Africa @77.19, Archipelago Resources @50.13 and Centamin Egypt @181.75 which I am sure I have owned previously in this account. 1 position closed that day, Euromoney Institutional, for a £10 overall loss. None of the trades in account 1 go onto a stop out list as that is a unique feature of the position trading strategy of account 2.
Like I said at the beginning, my future posts won't go into as much detail as previous posts. Some days I may not post at all if there is nothing worthy of note. I will continue to do the weekly roundup of accounts so that the comparison can continue as before.
Hopefully some of you made some good trades over the last couple of days, I hope next week treats you all well!
Thursday, 2 December 2010
Dear Santa, for Xmas please bring me more days like today!
Not got much time to post today, the market seems to have shot up on the back of Euro interest rates. Both accounts have gone haywire, account 1 going from an open loss of -£60 to a +£100 profit and account 2 going from breakeven to an open profit of +£150. Just shows you what a bit of leverage achieves when the market moves in the right direction. My ITV pyramid is holding up aswell due to the jump up.
Bit steamed about all the last couple of days stops that are now way above their stop out levels but I guess thats the life of a trader, no whipsaw losses for me thanks! I'll wait patiently for the right new trades to come along.
Hope you guys had a good day of profits too. Catch up later when I have more time to document yesterdays trades.
Bit steamed about all the last couple of days stops that are now way above their stop out levels but I guess thats the life of a trader, no whipsaw losses for me thanks! I'll wait patiently for the right new trades to come along.
Hope you guys had a good day of profits too. Catch up later when I have more time to document yesterdays trades.
Friday, 26 November 2010
Soldier on!
It looks like the FTSE is taking a right old battering this morning over the euro farce and North Koreas war-mongering. Every single share on my position trading stop out list is showing a drop in price. Which is great news for picking up bargains but not so great for existing open positions!
Thanks to Alan for his comment on the IG £5 per point situation. I am going to email some other firms today to find out if there is a viable alternative to IG when trading AIM shares. In the mean time I will soldier on...
Anyway I didn't think I was going to do any trading today but I have established 3 new positions this morning.
2 new trades in account 1: London Capital Group @102 and Elementis @117.09.
In account 2 I have re-established an old position in Resolution @224.7.
At an 11% difference from the old price that equates to a saving of £25 by having effective stop losses in place. The price is pretty much close to an old support level as well so I'm hoping it will rebound from it, as long as the FTSE pulls out of this slump! The position trading strategy doesn't rely on technical analysis anyway, its just a coincidence really. For more information on this strategy I suggest you pick up a copy of the book over on the right hand side there.
Had 2 stops on account 2 yesterday. 1 closed at a loss, Grainger Trust @91 and one closed for a profit, Thomas Cook @186.8 for an £11 profit. £2 profit overall, not going to make me rich but its money added to the balance.
Happy trading guys and have a good weekend.
Thanks to Alan for his comment on the IG £5 per point situation. I am going to email some other firms today to find out if there is a viable alternative to IG when trading AIM shares. In the mean time I will soldier on...
Anyway I didn't think I was going to do any trading today but I have established 3 new positions this morning.
2 new trades in account 1: London Capital Group @102 and Elementis @117.09.
In account 2 I have re-established an old position in Resolution @224.7.
At an 11% difference from the old price that equates to a saving of £25 by having effective stop losses in place. The price is pretty much close to an old support level as well so I'm hoping it will rebound from it, as long as the FTSE pulls out of this slump! The position trading strategy doesn't rely on technical analysis anyway, its just a coincidence really. For more information on this strategy I suggest you pick up a copy of the book over on the right hand side there.
Had 2 stops on account 2 yesterday. 1 closed at a loss, Grainger Trust @91 and one closed for a profit, Thomas Cook @186.8 for an £11 profit. £2 profit overall, not going to make me rich but its money added to the balance.
Happy trading guys and have a good weekend.
Monday, 22 November 2010
1 loss, 1 profit.
I'm not usually going to post on a Monday but seeing as I've finished my work for the day and its a short post I thought 'why not?'.
So both stops occured on account 1, one profit of £25.27 on Segro sold @265.83 (yey!) and one loss of £3.30 on JJB @5.4 (boo!)
I really think JJB are going down the plug hole unfortunately.
Trade well!
So both stops occured on account 1, one profit of £25.27 on Segro sold @265.83 (yey!) and one loss of £3.30 on JJB @5.4 (boo!)
I really think JJB are going down the plug hole unfortunately.
Trade well!
Thursday, 18 November 2010
BUY! BUY! BUY!
As you can probably guess I established a few more positions today. First lets get the boring stops from yesterday out of the way.
In account 1 MicroFocus stopped out @322.99 for a £4 loss.
In account 2 Punch Taverns stopped out @59.60 for a £15 loss and Mitchells & Butler stopped out @335.05 for a nice little profit of £38.75. Thats another example of the price spiking and then lowering quickly to take out my trailing stop too fast and its already ten points above that stop out price today. I really need to take a deeper look into my trailing stop strategy on these trades to see how I can avoid this from happening. Still, its nice to bank some monies for the account so the trailing stops are working to some extent, I just need to optimise them a little.
Onto todays trades then, firstly in account 1 I have established 6 new positions today based on share tips. These were:
Augean @26
Bellzone Mining @62.16
Blinkx @78.19 (this is a reopen of a closed position due to it being re-tipped in a different service)
Costain @218
Charles Stanley @275.69
Zincox @45
In account 2 I have re-established 3 positions at discounts from previous stops. These are:
McBride @169.3 - a 5% discount on the last stop out
Tribal @25.6 - a 23% discount on the last stop out
Trinity Mirror @74.9 - a 25% discount on the last stop out.
I also have a close eye on MicroFocus too. I know it just stopped out of the pro tips account but I already held it in my position trading account before and its currently at a 13% discount on its old stop out price. The fact it appeared as a share tip is an added bonus, but I feel it has a couple more % to drop first before I rebuy but we'll see.
Happy trading!
In account 1 MicroFocus stopped out @322.99 for a £4 loss.
In account 2 Punch Taverns stopped out @59.60 for a £15 loss and Mitchells & Butler stopped out @335.05 for a nice little profit of £38.75. Thats another example of the price spiking and then lowering quickly to take out my trailing stop too fast and its already ten points above that stop out price today. I really need to take a deeper look into my trailing stop strategy on these trades to see how I can avoid this from happening. Still, its nice to bank some monies for the account so the trailing stops are working to some extent, I just need to optimise them a little.
Onto todays trades then, firstly in account 1 I have established 6 new positions today based on share tips. These were:
Augean @26
Bellzone Mining @62.16
Blinkx @78.19 (this is a reopen of a closed position due to it being re-tipped in a different service)
Costain @218
Charles Stanley @275.69
Zincox @45
In account 2 I have re-established 3 positions at discounts from previous stops. These are:
McBride @169.3 - a 5% discount on the last stop out
Tribal @25.6 - a 23% discount on the last stop out
Trinity Mirror @74.9 - a 25% discount on the last stop out.
I also have a close eye on MicroFocus too. I know it just stopped out of the pro tips account but I already held it in my position trading account before and its currently at a 13% discount on its old stop out price. The fact it appeared as a share tip is an added bonus, but I feel it has a couple more % to drop first before I rebuy but we'll see.
Happy trading!
Wednesday, 17 November 2010
A few more stops: I guess the FTSE dropped whilst I was away!
Thanks to Tony for his comment yesterday. I did try replying to it via my mobile phone from my hotel room last night but the software just wouldn't let me for some reason. Anyway I'm home now, and I'm afraid to say my mistakes were made in the Position trading account Tony, sorry!
As for the 'Pro Tips' strategy, I wont be running it like the position trading account otherwise it would just be a slight variation on Tonys strategy. I will run it like I run my normal shares account, with slightly wider trailing stops and decent money management. I wont be pyramiding into any of the positions and occasionally I may cash a position in if it is doing particularly well just like my shares account - not that I'm having that problem at the moment!
Anyway Mondays trades went down like this:
All trades occured in Account 2, these were a stop of Mouchel @91.70 which got me a profit of 3.30, a new position in Wincanton @215.5 and a new position in RM PLC @150.10.
No activity in Account 1.
Tuesdays action:
In Account 1 three stops triggered, one in Blinx Plc @76.56 at a £2 loss, one in Centamin Egypt Ltd @173.06 at a £3 loss and one in Norseman Gold @68.33 for a £4.20 loss. I'm not sure why the stops for Blinx and Centamin were so close to my opening levels, my only guess is that they rose and my trailing stop rose slightly higher then they dropped and took me out very near to the buy levels but not quite break even. Ah well, that frees some money up for new trades tomorrow (Thurs.)
In Account 2 I established 5 new positions, these were:
Barratt Developments @76.6
William Hill @161.20
Kewill @96.2
Cable & Wireless @49.2
Grainger Trust @100.70
One stop was triggered, unfortunately another loss for the account but not a massive one - Robert Wiseman Dairies sold @315.3 for a £6.20 loss. One more for the stop list, and I guess I'm glad I dont have a real large holding after their recent bad share price action. Poor stockholders!
Anyway as I've just got back I doubt I will open any new trades today as I have other stuff to catch up on. I know I have got an email from IG index (account 1) about a stop that must have triggered but I will report on that tomorrow with any other action from the WorldSpreads account. (account 2)
Good luck with your own trades!
As for the 'Pro Tips' strategy, I wont be running it like the position trading account otherwise it would just be a slight variation on Tonys strategy. I will run it like I run my normal shares account, with slightly wider trailing stops and decent money management. I wont be pyramiding into any of the positions and occasionally I may cash a position in if it is doing particularly well just like my shares account - not that I'm having that problem at the moment!
Anyway Mondays trades went down like this:
All trades occured in Account 2, these were a stop of Mouchel @91.70 which got me a profit of 3.30, a new position in Wincanton @215.5 and a new position in RM PLC @150.10.
No activity in Account 1.
Tuesdays action:
In Account 1 three stops triggered, one in Blinx Plc @76.56 at a £2 loss, one in Centamin Egypt Ltd @173.06 at a £3 loss and one in Norseman Gold @68.33 for a £4.20 loss. I'm not sure why the stops for Blinx and Centamin were so close to my opening levels, my only guess is that they rose and my trailing stop rose slightly higher then they dropped and took me out very near to the buy levels but not quite break even. Ah well, that frees some money up for new trades tomorrow (Thurs.)
In Account 2 I established 5 new positions, these were:
Barratt Developments @76.6
William Hill @161.20
Kewill @96.2
Cable & Wireless @49.2
Grainger Trust @100.70
One stop was triggered, unfortunately another loss for the account but not a massive one - Robert Wiseman Dairies sold @315.3 for a £6.20 loss. One more for the stop list, and I guess I'm glad I dont have a real large holding after their recent bad share price action. Poor stockholders!
Anyway as I've just got back I doubt I will open any new trades today as I have other stuff to catch up on. I know I have got an email from IG index (account 1) about a stop that must have triggered but I will report on that tomorrow with any other action from the WorldSpreads account. (account 2)
Good luck with your own trades!
Saturday, 13 November 2010
Woohoo! Profit!
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.
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.
Friday, 12 November 2010
Coming down like a lead balloon
Account 2 suffered 2 more stop outs, Qinetiq group stopped out losing £12.30 and Trinity Mirror that I've had for a while stopped at a loss of £13.80. Not all doom and gloom as Aviva stopped out for a profit of £9.45. All 3 get added to my stop list.
I also made 2 more opening trades in the account, small positions in Xchanging @120 and 888 @40.3.
In account 1 I've had no stop outs and made 4 new opening trades based on share tips. These were
IQE @40.85, Photo-me @62.16, Chariot Oil & Gas @189.97 and Henderson Group @132.63. See if we can bag us a winner on one of them. 2 positions in this account have actually started showing a profit after the last 2 weeks of breakeven play. I'll update account figures on Sunday, if I suffered any stops on Account 2 during today I will report on those tomorrow.
I really think the market has found resistance at the moment, so long only strategies may start to suffer but we shall see.
I also made 2 more opening trades in the account, small positions in Xchanging @120 and 888 @40.3.
In account 1 I've had no stop outs and made 4 new opening trades based on share tips. These were
IQE @40.85, Photo-me @62.16, Chariot Oil & Gas @189.97 and Henderson Group @132.63. See if we can bag us a winner on one of them. 2 positions in this account have actually started showing a profit after the last 2 weeks of breakeven play. I'll update account figures on Sunday, if I suffered any stops on Account 2 during today I will report on those tomorrow.
I really think the market has found resistance at the moment, so long only strategies may start to suffer but we shall see.
Tuesday, 9 November 2010
Not much action, but a profitable trade triggered!
I guess I should explain that this blog will generally run 24hrs behind my actual trades. This is partly down to my work schedule but also due to the fact that I get my daily statements from WorldSpreads around midnight every night, so its easier for me to report any trades I made earlier the following day. So until that changes, there wont be many posts made on a Monday.
So now I got that explanation out the way, yesterday was pretty uneventful, mainly due to the fact I was asked to go into a clients office for a meeting all day that ruined my plan of action trading-wise.
But the day wouldn't be complete without some stop outs! Actually one stopped out in Account 2 making a profit, I think the first proper reported one so far. Resolution had gotten up to around £22 profit as I reported on Sunday, but sadly it dropped down and hit my trailing stop but the silver lining is I made a £19.70 profit on the trade. Ker-ching! Maybe next time I will keep my mouth closed about the profitable open trades!
I think a few people may have been caught out by Tribal Groups latest share price and I didnt escape unscathed, a loss of £10.20 racked up for me and another one for my stopout list.
I did make a couple of trades today in Account 2, but I'll wait for my statement to come through later tonight and report fully on those tomorrow.
No action at all on Account 1, unless IG Index didnt set up my instant email notifications like they said they had. I didn't receive any emails about any trades but I'll double check on that tomorrow aswell.
Happy trading!
So now I got that explanation out the way, yesterday was pretty uneventful, mainly due to the fact I was asked to go into a clients office for a meeting all day that ruined my plan of action trading-wise.
But the day wouldn't be complete without some stop outs! Actually one stopped out in Account 2 making a profit, I think the first proper reported one so far. Resolution had gotten up to around £22 profit as I reported on Sunday, but sadly it dropped down and hit my trailing stop but the silver lining is I made a £19.70 profit on the trade. Ker-ching! Maybe next time I will keep my mouth closed about the profitable open trades!
I think a few people may have been caught out by Tribal Groups latest share price and I didnt escape unscathed, a loss of £10.20 racked up for me and another one for my stopout list.
I did make a couple of trades today in Account 2, but I'll wait for my statement to come through later tonight and report fully on those tomorrow.
No action at all on Account 1, unless IG Index didnt set up my instant email notifications like they said they had. I didn't receive any emails about any trades but I'll double check on that tomorrow aswell.
Happy trading!
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