| Stock | Long/Short | Entry Price | Latest Price | Current profit/loss | % on prev day | % on total risk | ||
| Intertek | Long | 3,300.30 | 3,426.00 | 1,320.71 (SOLD @ 3,424.60) | 44.00 | 53.18 | ||
| Tullett Prebon | Short | 268.33 | 253.30 | 2,169.60 (SOLD @ 251.94) | -10.16 | 86.86 | ||
| Anglo American | Short | 1,848.60 | 1,671.00 | 3,118.16 (SOLD @ 1,685.78) | 6.03 | 125.18 | ||
| Hargreaves Lansdown | Long | 886.90 | 879.85 | -9.83 (SOLD @ 880.60) | 98.30 | -0.39 | ||
| Staffline | Long | 399.00 | 393.00 | -630.24 (SOLD @ 392.01) | -200.03 | -25.21 | ||
| Meggitt | Long | 485.99 | 485.90 | 2.65 (SOLD @ 486.09) | 100.59 | 0.11 | ||
| Running profit / loss | 8,352.77 | |||||||
| Diff from prev day | 1,946.91 | |||||||
Friday 12 April 2013
Round 2 : Week 7 Day 4 Trade Log
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Nothing wrong in giving the market a rest and waiting to see what happens next. The market right now is in one of those phases where things could go either way, it pays to play things a little tighter especially if you are long on most of your positions.
ReplyDeleteIt would be interesting for readers to perhaps know a little more of your strategy, how you make your selections, fundamental, technical analysis or a little of both, why you enter a trade when you do and the time frame you have in mind for trades. Knowing a little more about this might result in a few more constructive replies as we would then have more idea of the thinking behind your trading.
Despite the hiccup of the last week it's still looking pretty good.
Thanks for the comment and yes, I do need to write a post about my selection strategy etc. but I really need to sit down and try to make it coherent, I don't always follow the same selection strategy; I choose stocks according to many different factors, industry knowledge etc. but I will certainly try!
ReplyDeleteAm watching the market carefully and am waiting to enter again soon. But it's good to be out of it for a while - a lot less stressful too !
One other thing and you may have posted this already on the site, if so can you point me to the post, I was wondering how you calculate the level of bet to place. You are clearly trading quite big numbers, but I get the impression that bet size is dependent upon the price of the share? In other words, the lower the price the bigger the bet, the higher the price the bet is smaller. Just be interested to know whether you have a formula which automatically dictates the size of bet for you and how you decided on this.
DeleteYes, I do work out the £'s per point based on the share price. Quite simple actually, all I do is start off with a stop loss at around 7% below the price (adjusted if it's near a round number etc.) and based on how many points I have at risk, I calculate my £'s per point.
DeleteSo at the moment, I am placing a total of £45k at risk with a maximum of 18 bets which works out to £2,500 per bet. So for example if the price I could place a long bet is at 100, I'll set the stop at 93 and have 7 points at risk. £2,500 divided by 7 would be £357.14 per point!