So my dilemma was whether to introduce more funds (you don't like that), close a non-performing position altogether (tempting, but then I lose a potential winner), or de-pyramid a position. I really didn't want to do the latter, because the whole point is to back the winners, but Levendon was the best choice on which to lock in some profit because the price had just shot up.
Closing £1-per-point of my £2-per-point pyramid took my trading funds from negative to about +£49.
(that's what I meant when I mentioned my "recently freed up trading funds" yesterday)
Account Stats
Those of you who are pure of heart will be pleased to hear that my portfolio is up +21.80% on last week and up +56% in the five months since the low point on 3 July, and the rest (with my tongue firmly in my cheek) can point out to me that I'm still a massive GBP#678 under water this year.
You can see the cumulative performance and up-to-date equity curve as usual here, and the picture shows my current portfolio holdings.
Disclaimer: trades posted are real, but for general education and entertainment only and are not recommendations.
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3 comments:
Hi
although I'm not really 'pure of heart' - though I do regularly buy the 'Big Issue' - I am pleased to see that your strategy seems to be finally producing results (albeit late on in the trading year).
Personally I like to dwell on the positives, and so a 22% rise in just one week and 56% in the last 5 months are significant numbers. Also, at least from my small experience, it's always a great pyschological boost when patience starts to pay off...
Anyway here's to a few more gains before the end of the year!
PS Do Tradefair deal in AIM listed companies and other smaller shares?
Regards, Alan Leak
Yes nice to see a large jump up in the space of a week. Anythings possible by the end of the year now.
Wondering if the few negative comments you received yesterday were coincedental to you being published over on the Fool...
3d-box:
I suppose it's possible that someone had an axe to grind on that score, but I think that open-minded Fools would see that my strategy can actually be rather more Fool-friendly than most spread betting strategies; which I tried to explain in only 800 words at http://www.fool.co.uk/news/investing/2010/12/02/a-long-term-investment-is-a-short-term-trade-gone-.aspx
I think a more likely explanation for the occasional almost-personal attacks is that some people have found my blog, skimmed through it, not read my book(s), and have assumed that I am selling some snake oil that guarantees 3000% returns every year in exchange for absolutely no effort or risk on their part. And then they're disappointed when that promise (which I never made) has not materialised quickly enough for them.
I guess some people read what they want to read, rather than what is actually written :-(
My biggest challenge if I continue next year would be to manage expectations while at the same time not being afraid to highlight my genuine good results when they materialise.
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