06/02/2011 Accounts Roundup

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!

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!

Account 1

One of the pitfalls of working from home is sometimes you get a project that needs completing quickly and as you dont have the usual work routine of actually leaving the workplace to go home on a night that means that sometimes you end up working very long hours sat in your home office. That's where I've been for the last 2 days!

So anyway as promised I'm going to go through one of the accounts and show my current open positions.
This account is the 'pro share tips' account, so I only open new positions in the account when I receive share tips from either of 2 sources. I'm not going to reveal my tip sources here so please don't ask, but I will be showing which new positions I open as and when they happen.

So the account started with £1k in it (around $1570) and is currently showing a slight profit of £0.64. Here are all my current open positions:

I've had one or two positions close before this point, either through hitting their stop loss or dropping in value after their trailing stop has triggered and therefore realising a profit. For the sake of this exercise I will forget about those previous trades and from this point on document the current open positions and any new trades I make.

All the above trades were based on share tips only. In my next blog entry I will show you my current positions open in my Account 2 - following a position trading strategy. See you then!