All in all, with Part 1 and Part 2 it took me just over 8 weeks.
Phenomenal.
The markets have been very kind I must say!
Below is a list of my trades for Part 2.
I am going to combine all trades from Part 1 and Part 2 into one big table together with what I have learnt and post that this weekend sometime. I certainly have learnt a lot; take a view on the market and stick with it, don't hedge or bet against yourself, don't over trade and don't move stops up too close before hitting targets!
I will write about this in more detail over the weekend.
In the meantime, I am going to just get to terms with turning £30k into £105k from Nov '12 to now - just fantastic!
Hope you all have a super day and good luck to all of you in the markets - may the rampant bull run continue!
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Congratulations! Great performance.
ReplyDeleteThe market Gods must be smiling on you as you get out the day before the first big market fall for some time! Well done, great timing.
Perhaps now that you are out of the market you can write a little about strategy and your thinking behind your approach?
One thing that does stand out and would be interesting to read more about is how you feel about trading such large numbers? Several of your recent bets were in the £100 to £300 a point range, which of course can result in great returns when markets are in your favour. Needless to say, losses can also mount up quickly when things don't go right. How do you feel when you have such large amounts in play?
Given that most spread bettors are probably playing in the £1 to £10 a point range, which is especially advisable for those new to the game, handling £2-300 a point is a different psychological game. Will the bets get bigger in the next round?
It's important to emphasize that while your results have been excellent, you have been trading big numbers from the start and not everyone can handle this or should, at least when they are starting out. You deserve your return for having the balls to do it.
Congratulation....job well done. But if you plan to do this long term, does todays falls suggest that either (1) a hedge strategy is needed....or (2) leverage should be lower....ie each bet represents less than three % trading capital. If todays falls had happened at the beginning of round two you would have been pretty much wiped out.
ReplyDeleteHmmm, this is the question really. I tried to hedge myself in Round 2 Part 1 with disastrous results. I am not so sure hedging is the right strategy (for me anyway). I think I need to take a view on the market and back myself. But, yes, you are right, if the plunge had happened earlier - I wouldn't be where I am now.
DeleteI really do need to re-look at this though...