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!
Showing posts with label stocks and shares. Show all posts
Showing posts with label stocks and shares. Show all posts
Wednesday, 17 November 2010
Thursday, 14 October 2010
Welcome...
Welcome to my new blog. I'm starting this really as a record of my progress but also to compare 2 different spread betting strategies I am using on 2 separate accounts to see which comes out top after 12 months. I hope you'll stick around and follow my progress.
A short introduction about myself:
I'm male, 35 years old and I'm a self employed architectural consultant, so I'm in the fortunate position of being able to work out of my home office. This gives me an added advantage of being able to trade at any time of day during London market hours.
I began spread betting (or trading as I prefer to call it) around 6 months ago after reading a few books on the subject. I've been a regular investor in normal stocks for around ten years so I have a fare grasp on how the markets work. I have the usual savings, ETFs and ISA accounts so spread betting is just another investment vehicle that I am trying out.
I actually turned a small but not insignificant profit during my first 3 months of spread betting, but as I began to learn the ins and outs of the platform software I discovered that the company I traded with had quite limited features compared to other companies out there - and on top of that their spreads were quite wide. Obviously every little advantage helps, so I closed all my positions and withdrew my funds whilst I did my research into other spread betting companies to decide what was the best platform for me.
During that first 3 months I was using a position trading strategy and like I said it turned a nice profit for me. What interested me was how this strategy which leaves the stock picking completely up to you would perform against a strategy based on 'professional' stock tip advice.
So I decided to open up 2 separate accounts on 2 similar platforms (both in features and in spreads) and test each strategy against each other.
So there you have it, basically this blog will follow the progress of each of the 2 accounts for the next 12 months. I am already 1 month into this experiment, so the next post I make will show you what positions I currently have open in one of the accounts.
Hope you'll stick around and enjoy the rollercoaster ride that is spread trading!
A short introduction about myself:
I'm male, 35 years old and I'm a self employed architectural consultant, so I'm in the fortunate position of being able to work out of my home office. This gives me an added advantage of being able to trade at any time of day during London market hours.
I began spread betting (or trading as I prefer to call it) around 6 months ago after reading a few books on the subject. I've been a regular investor in normal stocks for around ten years so I have a fare grasp on how the markets work. I have the usual savings, ETFs and ISA accounts so spread betting is just another investment vehicle that I am trying out.
I actually turned a small but not insignificant profit during my first 3 months of spread betting, but as I began to learn the ins and outs of the platform software I discovered that the company I traded with had quite limited features compared to other companies out there - and on top of that their spreads were quite wide. Obviously every little advantage helps, so I closed all my positions and withdrew my funds whilst I did my research into other spread betting companies to decide what was the best platform for me.
During that first 3 months I was using a position trading strategy and like I said it turned a nice profit for me. What interested me was how this strategy which leaves the stock picking completely up to you would perform against a strategy based on 'professional' stock tip advice.
So I decided to open up 2 separate accounts on 2 similar platforms (both in features and in spreads) and test each strategy against each other.
So there you have it, basically this blog will follow the progress of each of the 2 accounts for the next 12 months. I am already 1 month into this experiment, so the next post I make will show you what positions I currently have open in one of the accounts.
Hope you'll stick around and enjoy the rollercoaster ride that is spread trading!
Subscribe to:
Posts (Atom)