The FTSE 250 short is really killing profits and I am currently looking into other options.
Also, you will notice that even though I am down over £4,000 on yesterday, my total profits are almost £11k. So where did the extra money come from?
Well, it's down to spreadsheets and deleting a calculation that I shouldn't have. The table below is generated out of a spreadsheet and I stupidly deleted the closed bets totals, so the profit from both my GKN and William Hill bets were not included in the running P&L.
Anyway, they are now, so that's where the extra £5,779 comes from !
You'd think I'd notice but, while I watch each bet and my running balance very closely, I don't always check the table generated below at the end of each day, I trust it and just copy and paste! Well, now I've checked it, and it's fixed!
Let's hope today brings some profits...
| Stock | Long/Short | Entry Price | Latest Price | Current profit/loss | % on prev day | |||
| Arm Holdings | Long | 934.90 | 946.00 | 418.48 | -60.70 | |||
| Advance Computer Software | Long | 90.23 | 89.00 | -489.71 | -0.09 | |||
| Aveva | Long | 2,303.00 | 2,316.00 | 198.19 | -23.96 | |||
| Bellway | Long | 1,134.80 | 1,153.00 | 565.42 | -33.25 | |||
| Cineworld | Long | 272.68 | 283.20 | 1372.07 | 15.98 | |||
| Diageo | Long | 1,952.00 | 2,000.50 | 1212.08 | 0.72 | |||
| Domino's Pizza | Long | 526.30 | 567.50 | 2787.75 | 1.21 | |||
| Easyjet | Long | 987.00 | 1,055.00 | 3218.49 | 7.18 | |||
| Euromoney | Long | 924.80 | 912.00 | -496.04 | -512.10 | |||
| Intertek | Long | 3,300.30 | 3,429.00 | 1380.12 | -5.20 | |||
| Ladbrokes | Long | 224.36 | 226.70 | 368.73 | -76.63 | |||
| Moneysupermarket | Long | 199.00 | 191.50 | -1799.96 (SOLD @ 188.976) | -54.12 | |||
| Porvair | Long | 198.50 | 196.96 | -280.08 | -4,262.62 | |||
| Ryanair | Long | 566.30 | 584.20 | 1124.3 | -24.55 | |||
| Spectris | Long | 2,367.00 | 2,383.00 | 236.7 | -27.65 | |||
| Telecity Group | Long | 926.30 | 927.50 | 42.9 | -80.19 | |||
| FTSE250 | Short | 13,679.84 | 13,953.35 | -6380.49 | -12.40 | |||
| Restaurant Group | Long | 425.06 | 444.10 | 1597.88 | 30.04 | |||
| Interserve | Long | 497.34 | 497.00 | -25.81 | -111.43 | |||
| Dialight | Long | 1,294.20 | 1,300.00 | 159.5 (BOUGHT) | ||||
| Running profit / loss | 10,990.35 | |||||||
| Diff from prev day | -4,407.88 | |||||||
I suppose in one sense your FTSE250 short is doing what it is supposed to do and act as insurance against a sudden market move against you. As long as the majority of your trades are in profit and overall you are winning the insurance works, but in the current market it is an expensive hedge because the trend has looked strong towards the upside, so a FTSE250 short is essentially against the prevailing trend.
ReplyDeleteOne possibility is to find an alternative market that is in a downtrend and short that. To do this you will probably need to arm yourself with the knowledge of which markets generally act counter to each other. However, sometimes you will find that everything is going one way.
Another possibility is to try and judge the market strength and decide whether it is worth bothering to hedge until you get some signal of a top or weakening trend on the latest run. You will need to arm yourself with some technical analysis and spend a little while looking at charts to try and become expert in this.
Overall, you are still doing very well and as I'm sure you know, this is a game where there is always something new to learn.
Thanks for the advice, always welcome and yes, maybe looking at another market heading down would be a good thing but these days I think that might be hard to find!
ReplyDeletebut, exactly right, we are always learning in this game aren't we! just when you think you have it mastered, something else pops up.
A case of the more you learn, the less you realise you know.